St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-09-01
SCARED BY CHOLERA.
Weakness and Depression
Marked All the Cereals on
Chicago Change.
This Condition Of Affairs
Brought About by the
Fear of Cholera.
Frost Failure Also Was a
Weakening Influence in
Corn.
Bears on Wall Street Take
Advantage Of the Cholera
Reports.

CHICAGO, Aug. 3l.-There was weakness
and depression in all the pits on board of
trade today, and a sharp decline all along
the line. Everybody seemed. disposed to SELL
but there was little inclination 10 buy. and
the result was decided Weakness The chief
cause of this condition OF affairs was the
growing fear that cholera would gain foot
hold in this country, with all sorts of panic
possibilities as a result Holders of Septem-
Der contracts. in view of the fact that tomor-
row is delivery day, with every prospect of
heavy deliveries. were particularly concerned
over the situation, not caring to accept the
actual grain on Il market which stands ready
to be stampeded; so they made haste to sell
out their September holdings as soon as trad
ing began.
Wheat showed downward tendency from
the Start, and the first transactions were at
SEC decline from yesterday. The expected
frost did not materialize. the government
weekly crop bulletin was unexpectedly ia
vorable for the crop. domestic and foreign
markets were oil lower and weak and the
receipts were very large. The liquidation
was not confined to September, however, as
was evidenced in the almost equal down
ward tendency of The more deferred futures.
The feeling in fact. was that if the dreaded
scourge should get foothold i'll this coun-
try its effects OH business might extend be-
yond mere temporary depression and might
last until the disease had run its course or
until checked by freezing weather.
About the only buying was to cover short
sales, in which there were good profits in
sight. New York and ST. LOUIS led the sell
ing, and adyces from those points said that
the cholera scare was the principal depress-
ing factor. The heavy receipts everywhere
were another big weight. After the general
liquidation was over there was II moderate
reaction, but at no time was there positive
strength. Partridge Yves said to be the heavi-
est short seller today, but he had a big fol-
lowing Dunn also sold heavily. and the
trade generally was OH the selling side.
Bradstreet's reported all increase III the
available supply of wheat for the week OF
3,241,0J0 bu east of the Rockies, aud 17l,0p
bu OH the Pacific coast.
September onened SSc lower at 747sc
against 154c at The close Yesterday, touched
75c. declined TO 74ssc, the lowest figure yet
reached this season. reacted to 71asc. but
weakened again and closed easy at 14I2c
December opened lac lower at 7ec. sold at
7essc fell to 7issc, and closed at 7Slac.
Corn was depressed and lower from the
start. the failure of The expected frost to ma
pcctedly favorable character of the govern
ment weekly crop bulletin. with the general
depression which held sway in all speculat-
i've pits. all favored lower prices. Baldwin
Farnum seemed to lead the selling, but they
had big following, and there was sharp
struggle, both i'll unloading long corn and in
selling short. The confidence felt so re-
Gently seemed to have disappeared, and the
bears were in full control. september
opened mt 50@j0ssc. against 5Cssc at the close
yesterday, sold Off to 49c, and closed at 4jlsc.
Oats were weak in sympathy with the gen
eral depression, but were not SO demoraliZed,
as the crop conditions were such as to make
short selling more hazardous. September
shows a net loss for the day of ssc.
Hog products were weak and at times
seemed demoralized. The offerings were
urgent with very little demand. while the
cholera scsre and the depression in other
speculative articles were bearish agencies to-.
gether with heavy present and prospect e
receipts Of live hogs and lower prices at the
yards. September pork started at Sl625, a
loss of De. advanced to so. 32L2, broke TO
$40 .02Ia. and closed ct Si00.l2 Lard is l2lac
lower. tut ribs were better held and October
closed without change, though September is
off 1l2c and January 17l2c.
Lake freightS unchanged. Estimated re-
ceipts for tomorrow: Wheat, So cars; corn,
40 cars; oats, 23) cars; hogs, $4,000.
The leading futures r'noe1 rs foIlo-ve.