St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-09-20
WHEAT WAS WANTED
Buying Orders for Wheat
Checked the Decline at
rs Cents.
But the Feeling Was Heavy,
and the Close Under
Saturday.
Lack of Frost Had a Depress-
ing Effect in the Corn
Northern Pacific Preferred
Hammered Down by Wall
Street Bears.

CHICAGO, Sept. 19-At 75c a bushel today
there seemed to be millions of wheat wanted
by purchasers and for sale by owners A
fear has existed in some quarters that when
the market reached that figure for December
delivery the pit would be swamped by a del
uge of stop loss orders. The instructions to
buy about that price proved rather more
numerous. however, than the directions to
sell. Nevertheless. the feeling was on the
whole heavy, and at the close lsc was
knocked off Saturdays closing prices. Corn
lacked what it appears to need in order to
sustain the price-a damaging frost. A fur
ther decline took place, and at the close it's
value was reduced Sac compared with Satur-
days closing quotations. Provisions were
dull and a trifie lower
AT no time did the price of wheat get ont
of range of l2c Considering the extreme
narrowness of the Grade, and the many de-
pressing features of the situation, the stub
bornness with which the market resisted the
efforts to break rather surprised the trade.
Among the most prominent weakening fact
ors were the enormous receipts in the North
west-nearly 1900 cars-the weak and lower
cables, and IA report that the yellow flag had
again been holsted over couple of steamers
i'll quarantine i'll New York harbor, indicat-
ing that other cases of cholera had broken
out there. The visible supply also proved
depressing factor.
But the buying on all the weak spots was
sufficient to prevent anything like a slump,
and prices kept toleratly steady, Buyers
found little encouragement in the fact that
Chicago stocks increased but 1900 bu, with
all the heavy receipts of the past week. The
outward movement bv lake kept stocks from
piling up. Bloom, who went long over half
million bushels of wheat last week around
Es4c, has apparently not been shaken out
yet but bought nearly quarter of million
break
Corn exhibited more activity than Satur-
day. The sentiment was inclined to be bear
1sh at the Start, there being no frost i'll sight,
the weather over most of the West being mild
and dry. and there was no prospect of any
severe change. The local crowd commenced
selling at the opening, and initial trades
were at slight declines, and under moderate
offerings sold off S4c. Buying by shorts
one far-sized line being covered-checked
the decline. after which the price rallied l2c.
reacted Sstlcl2c. and closed within 1et0I4c of
the bottom. There was fairly good demand
for May at ste Commission houses, many of
whom are bullish. appeared 10 have num-
Der OF orders early at that figure. Receipts
were larger than eXpecIed-490 cars-but in
cluded sundays work on three roads. The
generous receipts, indicating the Willingness
of farmers to part with their old corn, was
taken as an admission that the outlook for
the new crop was satisfactory to those who
ought to know the most about it.
The oats market attracted little attention
during the early part of the session, but be-
came fairly active about noon. When there
was pretty good buying of May. Notion
Worthington sod small quantity of Sep
TENDER, buving October and May in ex-
change. The close was at decline of about
ssc, compared with Saturday, except for
| May, which shows 1sc loss.
The provision market was dull and weak.
| The receipts of hogs at Chicago were less
than had been looked for, but that had little
effect in view of the fact that the packers
appear to find the most profitable market for
| their product in selling it to spectators for
future delivery. Weakness in corn and
wheat had It's effect January pork and lard
are off DC compared with Saturday evening,
and January ribs 2l2c
Freights were steady at 2l2c for wheat and
24c for corn to Buffalo. Estimated receipts
for tomorrow: Wheat 900 cars: corn, SIS
cars; oats, 563 cars; hogs. 10000 head. =
The leading futures ranged as follows: