St. Paul daily globe., 1891-04-27
POUNDED BY BEARS.
The Chicago Bulls Stampeded
by the Very Rosy Crop
Reports.
A Private Report OF Frost
Damage in Kentucky the
Only Encouragement.
Wheat Takes a Big Tumble,
Sagging Away Nearly
Three Cents.
I'm
A Very Buoyant Feeling Re-
ported in Stocks ALI Along
the Line.

CHICAGO, April 25.-This was field day for
the bears IN all of the grain pits, and provi-
slons, even. which were inclined to be duh
and steady, finally caught the infection and
went off moderately. The net result of the
days trading was a loss of 25se in the price
OF wheat 2lsc in corn and 3sse in oats. The
news OF the day was unusually bearish. The
crop reports were rosy, the receipts in the
Northwest were heavy, English markets were
lower and exports for the week were disap-
pointing. About the only encouragement
OF advocates of higher prices were
a reported advance at Paris and Ber-
lin ana private report of frost
damage in Kentucky. July wheat started at
S1.0sss sold to sl.OSls, up speedily to sL094,
ana tnen started down again There were
DT1ef halIS and moderate reactions al S1.0S5s
the put pr1ce-at S1.0S, at S107l2, at
Sl.07A and at 1.06ss. From the latter figure
mere was rally to ol.01, but this was lost
near the close, which was easy at practically
the lowest prices of the day. Not since last
November have the bears made such con-
centrated and well directed attack upon the
market Ream. Linn. Cudahy. Roche, Kam-
merer, Pardrldge and a host of others flood
ed the market with heavy offerings, and
ABOUT the only purchasers were shorts, who
saw their danger and proceeded to cover
Inc old-tlme bears tfoeked in from all dlrec-
tiOns. races which have not been seen on
the board for some time were seen to-day
All were anxious TO get even on their late
losses They were savage and showed no
pity for the badly GemoraliZed bulls They
simply sold wheat right and left took it IN on
the bad breaks, and again threw it on the
market whenever there WAS suspicion of a
rally Their power increased constantly and
before the session ended they were appar-
emily in complete control. There was free
selling also credited 10 New \ YorS parties and
some wheat held by interior traders was
closed out, on which stop-loss- limits had
been placed.
Corn was as weak as wheat. The Iiquida-
ton by longs and selling by bears was too
great for the small buying demand to over
come. The brilliant weather. the prospect of
large receipts henceforth and the weakness
IN oats cut right to the bone of the situation,
and holders began 10 stand from under
July started at 664c, sold at 65$sc. but was
on to 66l4c before the session ended when
prices were I4c higher
The oats news was all favorable to the
bears. who hammered the market throughout
the session. The governing influences were
| the weakness in other cereals fine crop
! prospects and diminished consumptiye de-
mand on account of the approach of the sea-
| son for paSturage. The course of the market
! was downward all day, with the exception
! OF one or two brief periods. when there were
| titful rallies
| PROVISIONS were comparatively dull July
| pork started at S13.07Ia sold to Sl3 ID and off
! later to Sl292I2. The weakness of corn and
! other gains counted against the market but
! there was no heavy selling. The close shows
| q loss compared with yesterday of sc in
| pork, 1Oc in lard and 10912l2c IN ribs.
The leading futures ranged as follows: