St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-03-16
Bearish Factors Controlled
/ the Quotations on Chi
/ cago Change.
A Generally Discouraged, De-
pressed Feeling Ruled in
All the Pits.
Wheat Is One Cent Lower,
Corn and Oats Each Los
ing a Half.
Apathy Is the Feeling Of the
Public Toward New York
Stocks.

CHICAGO, March 15.-There were a number
of very bearish factors in the market today,
and these, taken in connection with the gen.
orally discouraged feeling among holders,
had a very depressing effect on values There
were only few points which could be made
to favor the bulls, and they produced very
little effect. Perhaps the governments com
pilation of the wheat crop of the world III
1891 which was published this morning, was
about the most discouraging piece of news.
This report makes the wheat crop of the
world last year nearly 81, 100000 bushels in
excess of that of 1899, and. in fact. the largest
ever reported. being 100000 bushels in eX-
cess of the crop of 1887, heretofore the larg-
est.
The effect of this on those who have been
bulling the market on the alleged deficiency
in lastayears crop was most disheartenlng
OF course, this report makes no mention OF
rye, which is I'm iversally admitted to be very
deficient, and. therefore, it is claimed does
not fairly represent the situation as to the
breadstuffs; still it was regarded as very
bearish. Another very weak factor was the
increase in the amount of wheat and flour
on ocean passage, which shows an increase
of g. 52S 900 bu during the week and indicates
that other countries than America are max
ing large shipments But the hopeful bulls
explained that this increase is chiefly due to
the storms. which have prevented vessels
reaching port
Cables were all lower, particularly Paris
advices. which noted decline OF 2(D3SSc per
bu. This was attributed to financial troubles
there. where and at st. Petersburg bank fail
ures were reported. On top of all this, while
the weather was cold all over the wheat belt
the plant was reported as generally protected
by snow There were some struggling re-
ports of damage by freezing. About the only
favorable news was the report that the En-
glish visible supply decreased |, 10000 bu last
week and the liberal export movement. The
flour exports continue large. over $4,000 bbls
having been cleared from the seaboard yes
terday-
Holders showed much Encouragement and
there was free liquidation in some quarters,
both by local professionals and tor outside
account. On the break there was apparently
some investment buying. but the chief de
mand was to cover shorts. Schwartz-Dupee.
Poole Sherman, Mitchell and others took a
good deal of wheat at SIC and below. Par
bridge was also believed to have covered q
big lue.. The lowest price touched during
the session was record ID and the close was
weak, though somewhat better than bottom
figures May opened with sales at S6Isc and
S5s4c. soon sold at Sj5sc, then rallied to S6ISc
weakened and sold off to S5c, and closed at
S5Ac against S6Ac at the close yesterday
The local feeling continues bearish.
Corn was heavy and lower. Feeling con-
tlnues bearish. and there was good deal of
long corn for sale and generous short selling.
The situation in wheat was also favorable for
the bears, and they used their advantage.
May opened at 39sS@39ssc, weakened to 39Ac,
reacted with wheat to 399sc, but weakened
with it again and closed steady at 39ssc, loss
of 12c.
Oats were dull and easy, closing with loss
of l2c.
Provisions started with show Of weak
ness on account OF the heavy receipts and
. lower prices for hogs. hut grew strong and
and though there was some reaction. the
{ close shows slight advances over yesterdays
quotations.
Estimated receipts for tomorrow: Wheat,
155 cars; corn, 270 cars; oats, lob cars; hogs,
27,006 head.
The leading futures ranged as follows: