St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-01-30
EVERYTHING DROPPED
News Of a Bearish Character
Affected Chicago
Markets.
Only a Moderate Demand, But
Free Selling by Weary
Holders.
Lower Markets Abroad and
Weak Cables Helped the
Decline.
New York Stock Market Is
Holding UP Well Under
Hammering.

CHICAGO. Jan. 20.-Wheat was lower and
very dull in the early trading this morning.
The news was mostly of a bearsh character.
British cables were unchanged, but CONT
mental markets were lower, followed by Brit
ish markets later. The receipts in the North
west and here indicated Il little freer move
ment. The estimate of the agricultural de-
partment of North Dakota made the last sea-
sons wheat crop of that state amount TO 64,-
ZOO, 600 bu. or about 12.5O0,010 blu more than
the government estimate. Partridge added
his mite by free selling during most of the
session. All of these things gave the market
heavy look around the opening, and there
was free selling by tired longs. with only a
moderate demand. Schwartz Dupea sold
generously on their weak continental cables.
Private New York advices reported exl ort-
ers doing very little. and the acceptances on
cable offers extremely light. Logan, Mil
mine Bodman and Kennett-Hopkins were
good buyers. After period of dizziness and
weakness the market began to show some
nervous strength; it was reported that the
export business at the seaboard was showing
evidences Of revival; that nearly 10000 bu
of wheat and flour were cleared yesterday.
and that thlrty-nine boatioads had been taken
at New " DIRK and ont ports today. This
started early sellers to covering. and there
was quick rally, but the advance brought
out free selling again. and another period of
weakness followed. Then the crowd grew
nervous and bought again, sending prices up
TO outside figures: but the advance did not
mold. ana there was another lapse and weak
ness which continued to the end of the ses-
sion, and the market closed easy nearly at
the bottom figures
The late cables were all lower and q dis
patch from New York said there was abso-
lutely no demand for freight room and that
several vessels had bought wheat TO make up
cargoes. 1t looked as if news was being
manufactured for the purpose of see-sawing
The market. May opened at 9118c. against
01l2c at the close yesterday: held for some
time within range of 9l@9lAc. sold up to
9f5sc, reacted to 9lHc, rallied TO 9l9sc, broke
again during the last hour to 9JS4c and closed
easy at 917Sc.
Corn was again fairly active and the in
f1uences which led to yesterdays advance
were still effective eat the opening this
morning. The market opened firm and a
the start there was some disposition to
sell, but the advance reported in New York,
the fact that out of the 243 cars inspected
into store not a car graded contract and the
nervous feeling i'll wheat soon turned the
market and there was Il slight further adj
vance which held for time, after which the
market weakened. New York was said to
have been hbeSal buyer of corn here today
the purchase on this account, it was thought,
would aggregate over 100000 blu.
During the last hour Partridge became the
controlling feature in the market and his
sales, coupled with the weakness in wheat
caused a break and the market closed at bot
tom figures. May started at 4l3ac, against
lac as the last figure yesterday, weakened
to iIlsc, advanced to Also, weakened to and
closed at Ale
Oats sympathized with corn, and May
closed at Bose. u loss of ssc.
Hog products started higher, on the mod
crate receipts of live hogs and the advance
of 1C@l5c at the yards. But realizing sales
were free, and some OF the leading packers
eased off. There were several fiuctuat ions
within narrow limits thereafter and the
close was at slightly lower prices than those
at the end of the session yesterday. Esti-
mated receipts tor tomorrow: Wheat, $50
cars: corn, go cars; oats, $50 cars; hogs, 90
600 head.
The leading futures ranged as follows: