St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-09-09
SH0RT-lIVED BULGE.
w. .3.rs-
c.
Cereals on Chicago Change
Start or Strong and Ad-
Vanced.
Bearish Influences Soon Send
the Price on the Down
Ja Track.
Market Closes. Weak and at
Nearly the Bottom
Prices.
IF
Wall Street Movements of
Importance Confined to
a Few Stocks.

CHICAGO, Sept. s.-Weakness today fol-
lowed an early bulge in the grain markets.
and wheat sold 12c lower than last night
Corn climbed up nearly &c. and then slipped
back to about the starting point Oats show
a decline of s4@1c. Provisions. after quite a
show of strength, sagged near the close, and
quit with gain of 7l2@10c. Frost talk was
the main source of the strength, and cholera
of the weakness.
Wheat started strong, and for a time its
friends displayed good deal of confidence,
and. aided by the sharp upturn i'll corn sue
ceeded in advancing fraction. But there
was good short selling and generous realiz-
ing on the advance. Then came report of
a case of cholera in New York city, and the
price went off lsc from the top price early.
But this report was soon cleared and. the
Cincinnati Price Currents estimate that the
crop would not exceed 501,000.0o) bu becom-
ing known. the bulls rallied and pushed the
price back to nearly top figures.
But the announcement that the two steam
ers which were expected from Europe were
IL sight and both flying the cholera flag pro-
duced another season of depression, under
which there was another drop of I2c. Mitch
ell, Logan, Lindblom and Partridge were
the leading sellers of wheat early, especi-
ally on the breaks.
The market was exceedingly weak during
the last ten minutes and closed within 1sc of
the bottom although the New York report
about the new pest steamers arriving was
contradicted. The decline in the stock mar
ket was one bear factor, and another was
general desire by holders to unload.
In corn the opening trades were at 4@lac
advance, and after ruling steady for mo-
ment sold off under free selling by room op-
orators and longs in general I2@ssc. The
offerings were well absorbed, being taken by
prominent parties. and when the indications
of frost tonight in the Northwest became
known there was quite scramble among
shorts the result being q 1c advance.
There was a good deal of long" property
came out OH the rally. and the price worked
back &c, changed some and closed with a
slight gain. There is an impression that the
government repor. Saturday will show some
reduction from the August statement.
part-but just how much it is hard to
determine-of Norton. w orthington's line of
September oats, which has made the shorts
very nervous for some time, came on the
market today. creating a weak feeling and
depressing prices The selling was done
through brokers and the amount they sold
was estimated by some traders TO be only 25,-
000 Blu, while others placed it at 100000 Blu.
Much of the trading was in the May future.
The provision trade was not disturbed by
much outside business. There was good sup
port and higher prices for all products, but
much less action in the market than usual.
Lake freights were firm with a good de-
mand for boats at 24c for wheat and &c for
corn to Buffalo. Estimated receipts tomor
row: Wheat, 430 cars; corn, $50 cars; oats,
210 cars; hogs, 10000.
The leading futures ranged as follows: