St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-08-25
Induced a Selling Pressure
Which Led to Lower
Quotations. y
Strength and Activity Disap-
pear From the Dealings !
in Stocks. =
Trading Again Assumes Its
Professional Character on
Small Losses.

CHICAGO. Aug. PA bearish sentiment
prevailed in all of the trading pits OH change
today, and everything closed lower than yes
terday's last figures. Wheat was rather
strong on the curb before the bell tapped for
regular trading. and, as result of this. first
transactions in regular way were at a point
above yesterdays close, but the situation was
regarded as bearish, ana there was consider
able selling pressure, resulting soon in lower
prices. The bearish points were the weak
and lower English cables, the strike at Buff
falo, The increase of the cholera in Europe
and the danger OF its invasion of this coun-
try. and the heavy receipts of wheat at all
points OF accumulation.
Bradstreets reports the increase of stocks
east OF the Rockies last week at 4,042 900 Blu
and IL zoo bu on the Pacific coast, making
grand total of 4, l74,0 900 bu increase for the
week. The government crop bulletins were
also favorable and reported big Yields while
interior deliveries continue on liberal scale.
8 good deal of long wheat was closed out
and short selling was equally generous. while
the buying was somewhat restricted and eau
tious The weakness in corn aud provisions
also helped to cause depression in wheat, and
the market was heavy almost from the start
Trading was fairly active for the first few
minutes. but thereafter the market ruled
dull. Late cables quoted the English mar
with Paris higher on flour. but unchanged
on wheat. September opened lsc up at 76lsc,
sold Oft slowly to 75asc. reacted to 757sc. held
around 7ss4c for considerable length of
time. sold off during the last hour to Use, and
closed steady at Ease.
Corn was lower and weak early transactions
were at yesterdays close, but reports of gem
erous rains i'll the most important sections of
the corn belt started considerable liquidation
and lower prices, the weakness being helped
along by the softness Of the wheat market.
Later II was asserted that the rains had beeu
highland local. and the governments weekly
crop bulletin indicating that drought was
very general. there was some recovery.
Good buying by shorts on the break also
helped the improvement, but the average
price was considerably below that of yester-
day. September opened Ac lower at SEE sold
at once at 5.I2c. broke to 5ls4c. reacted to sec,
again sold at 5fs4c. ruled dull and steady for
time, weakened again during the last hour
10 5lI2c and closed at 51ssc.
Oats were quiet and easy, in sympathy with
the course of corn and wheat closing Hc
lower at 3iAc for September
Hog products were generally lower; the re-
ceipts of live hogs were some 1900 more than
expected and there was less urgency in the
demand and considerable realizing. which
resulted in lower prices. The European
cholera scare and the weakness in
grains also tended to produce weakness
In the provision pit, where the downward
tendency was accompanied by dullness dur
ing considerable p art of the session. Sep
TENDER pork opened sc off at Sll 25 sold
down without material reaction to Sl1.15 ana
during the last hour took further dip 20
6o, closing at Sll. a loss of 30c compared
with yesterdays final figures. September
lard was entirely nominal during the early
part Of the session and closed with loss of
7lac. Ribs are 17lac lower
Estimated receipts for tomorrow: Wheat,
$40 cars; corn, 800 cars; oats, 2Sj cars: hogs.
$1,000 head. Lake freights steady on the
basis OF &c for corn to Buffalo.
f,1tt