Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-05-24
SPECTATORS SURPRISED.

1he biggest Weekly Decrease In the Visible
Supp ' of Wheat Ever Responsibilities
Recover Quickly From tho Decline ts
Close Lower Than Saturday.
CHICAGO-A surprise was in store for thu
! spectators to-day-the biggest weekly de
crease ever reported in the RECORD
of the visible supply of wheat. 1t caused
| sharp recovery from a general de
cline in prices, caused by the sud
den general improvement in the weather
Nevertheless, compared with saturdays
closing, everything on the list is lower this
pork, I21Sc May corn is nominal and
shows a decline of 10c.
The Signal Service map was the first thing
1t showed that the weather everywhere was
splendid for the crops and Tor farming oper.
attons. There were only two points west oi
Chicago from where rainfall was reported
and the barometer indicated q continuance
of these conditions. Values we're still further
demoralized by drop of R@ld reported In
Liverpool and a sharp down turn in domestic
markets. Long wheat was freely liquidated
The bears who have been held in check by
the bad weather, sold short freely and there
was a gradual drop of Nc from the closing
figure OF Saturday. Pardridge was not doing
much. There was some good buying
the recent bulge and were inclined to
take profits. Purchases lJy Logan, Schwartz
DuDe6 ana Mllmlne 'hOu1na0 were lar2ely
covering short sales made Friday and Satur-
day. The visible supply was to show a
good decrease of anywhere from l,5O0, 600 to
1000, 600 bushels, but the report of the lakes
was last in, and when that was posted,
showing decrease of nearly ZOO, 900 bushels
and an aggregate decrease OF 1904 600
bushels, the market took q sudden
jump Of &c But the Advance ,, was met ~, With noo
bushels-and a rumor that the worlds ship
ments 10 Europe we're over 100000 bushels.
The opening was about 5s@Ac lower than
Saturdays CLOSING, ruled weak and declined
1Sc more, then rallied 1Ec, and again eased
OFF &c at the close.
Corn was weak and lower on the fine
weather. the marked improvement in the
grading, the free realizing and short selling.
The May deal looked to be on the point of
collapse, the short interest was apparently
largely eliminated last week and there was
not much wanted to-day, while the realizing
by the longs was heavy. There was con-
siderable talk OF large settlements by shorts
on private terms. Initial trades we're at
1R@2c decline from saturdays close, and
furtner weakening of 5s@54c set in; prices
then advancing 11s@llIc, easing off later 15c.
Oats were traded in Iairly, and an unset
tied feeling prevailed. The market onened
weaker and A1lc lower and declined L6sSc
more in sympathy with wheat and corn,
but when they advanced and the visible
supply statement came in O flrmer feeling
developed and prices advanced x@lc. The
close was steady.
Notwithstanding fiimness in live hogs at
the stock yards, provisions opened 21565c
lower than Saturdays final figures on
ports of fine weather; the offerings of pork
for September delivery by a prominent
packing institution drove the market down
several points, but lard and ribs scarcely par
ticipated in the break. Grain was also
strong element in producing weakness
When wheat advanced on the visible supply
figures, provisions doomed in sympathy,
the local crowd who had bought early rush
ing to cover. This was followed by n slight
the market clio sing steady for pork,
firm for lard and strong for ribs.
Lake rates were easy at 134c for wheat and
115c for corn to Buffalo.
The estimated receipts for tomorrow are:
l6O cars wheat $50 cars corn, $50 cars oats
and p, 900 hogs
The leading futures ranged as follows as cor
rected by John NJ. Oakley & Co., IS Sixth street.
members of the Chicago Board OF Trade: