St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-10-19
SPRUNG A SURPRISE.
The Chicago Provision Pit
Turns Seller On a Heavy
Scale.
Under the Pressure the Mar
ket Weakened and
Closed Lower.
Not Much Life in the Wheat
Market and the Feeling
Weak.
Only Fractional Changes in
Wall Street, With a
Weak Close.

CHICAGO, Oct. 1S.-A sharp surprise was
sprung i'll provisions today, resulting in a
lively break in prices. With everything look
ing bullish, the Cudahy Wright combination
started in TO realize on some of their profits.
Their numerous brokers began letting pork
and lard go freely. The shorts were quickly
supplied, and the general trade took great
quantities without much decline. Still, the
selling continued. The market weakened
under the pressure until pork broke nearly
Gee, lard Ice and ribs 7l2c on January con-
tracts. The manipulators bought sparingly
afterward and there was partial recovery.
Wheat compared with closing prices yester-
day is 14c lower and corn is unchanged Oats
were weak and lost from Ato 7Sc.
There was not much life in the wheat mar
ket, and the feeling was weak. With general
rains. receipts again heavy and the export
demand slack. there was not much apparently
to warrant the bull sentiment About the
only thing that induced buying was the fact
that the price was considerably below the
average at this season of the year. But this
was met by the claim that the situation was
hardly ever so bearish. The stocks are I'M
precedentcd, and the current receipts are on
scale that has never been equaied, while
prices abroad show an Indifference discour-
aging to American exporters.
The Liverpool cables. which have been
time, are beginning 10 excite some comment
as foreigners Go not seem to be buying much
The small estimate for tomorrow-iCJ cars
had tendency to check weakness some. but
did not prove the market much. The open
ing price was at about 1Sc decline. Then
followed drop of lac more. and the close
was at 1Sc from the bottom.
Corn. unlike wheat when Influenced by
the rain, which, it was thought, might cut off
receipts. opened strong and higher. The de-
cided strength at the close yesterday brought
in good many buying orders to he filed at
the opening, and, as there was little offered,
there was considerable iirmness for Il time.
But the advance brought out free offerings,
and. after fluctuations within a range or 40
SSc, the close was quiet aud steady at last
nights figures.
Ia oats the receivers were the best sellers
ana shorts the principal buyers Opening
sales were at the highest and the closing at
the lowest prices for the day. Trade was
materially reduced in volume.
The provision market opened strong and
active, due to the strength IN the hog market.
as reported from the yards. This appeared
to nave been what the Cudahys were waiting
for, and it is estimated that their sales were
over 70, OG0 bbls of pork 1000 ties OF lard and
liberal quantity of ribs. The price was
pumped up g little toward the close, but il
the end pork lett off from 5c0i2l2c lower
than it did yesterday. Lard is sc higher for
October, 15c lower for November and Tee.
lower for January. Ribs show II loss of &c.
Estimated receipts for tomorrow: Wheat,
400 cars; corn, $50 cars; oats, go cars; hogs.
2O.009. Freights were active, but weaker and
I4c lower to Buffalo at FAC for wheat and &c
for corn.
The LEADING fntIrns RANGED "a follows.