St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-08-27
Gravity Of the Situation in
Europe Exerts a Bad In
fluence on Markets.
Hog Markets Suffer Most in
thu Depression Resulting
From Cholera. "a
Thu New Jersey Decision In
tensifias Dizziness on Wall IL
Street. =.
Dun's Review Of Trade Indi-
Gates Gen eral but Modsr-
ate Improvement. d

CHICAGO, Aug. 26-The grave aspect of the
situation as regards cholera in Eastern Eu
rope, rs shown by the dispatches published
this morning. demoralzed the markets on
the board of trade especially hog meats
Yesterday the stories going aDout Ill regard
tolt were received with some caution. Today,
however. the published reports concerning
the spread of the epidemic abroad. and the
talk of quarantin' caused the trade to take
gloomy v ew of the future.
The receipts of wheat continue in good
volume, notwithstanding reports freely cir
cuiated that they were sure TO decrease great
ly. At the start, Logan, Schwartz-Dupee
Norton-W orthington, ana other prominent
houses, with the scaiping element, were free
sellers. and the first sales showed A0bc
decline. Observation-Disclosures, Cutler and
McDougail were good buyers on the break
most OF 1t being understood to be in the way
OF covering shorts, and there was some Tecoy-
cry, but at no time did the market show
much strength.
The bears, who have along couteuded
that the situation was weak. considering the
crops at home and abroad and the large sur
plus carried over, now feel that since the
cholera has added its weight there can be nc
doubt of the correctness of their position
ana are steadily increasing their short lines
Many ormer bulls are showing discourage
ment and are unloading freely as the marhe
can take their holdings. OF course there is
more or less bull sentiment vet, but it is fee
.b!e he>itating and cautious, and consequent.
~ without much influence
After the market had worked up about Isc
under buying for investment by Representa-
tive operators who were inclined to the opin-
ion that the cholera danger had been over
stated and that the price was ut a safe
point the news that cholera had
reached England. coupled with reports
from Northwestern states that the
spring wheat crop was deficient in quantity
ana III hour-producing qualities, caused a
down turn again. Sales of September
ijc. against 1ol2c at the close yesterday. The
price worked its Way up. with some slight
reactions, to 1Jssc reacted and closed weak
at 7jI4c
Corn was weak almost from the Start. and
before noon I'd fallen 1lsc on September
from yesterdays close. The cholera scare
the weakness in wheat and TIL, damoraliz l.
iion In provisions were the depressing fac
tors. CJngdon. SchwLrtz-Dupee and Bal l.
Wln-FarnIm were the big sellers. Cong
don, who has been q bull until ouiie
recently. led the raid. and now
pre- diets lower prices Some prom
lnent longs liqui1ated freely and
there WAS little demand except TO cover
shor;s and secure profits. Purchases by the
latter. together with an up turn i'll proyis-
IONS caused rally later. but the advance
N"o itoI All iSltl, TIE UltTkSt SlnkinS WnoN
the shorts quit buying. September opened
Zee lower at 5l5sc, with a possible sale at
5is4c, and sold down to sic. reacted to 51ssc
weakened aud closed Mt 5llsc.
Oats were slow and easier largely in SYM
pathy with wheat aud corn, closing with q
loss of ISc. ye
Hog products were again demoralizad.
Receipts of live hogs were much larger than
expected with the market at the
yards demoraiized and 2J@!5c lower
Holders of products were press
ing sales and low prices ruled
at he start. But covering by shorts TO secure
prorits. and good buying BY Cudahy and
Charley Wright started prices up some. Sep
tender pork opened &c lower at SIG -. re-
manned weak for some time. sthen advanced
to $40. 70, and closed at $40 49, al
Lard vas very weak early on liqudating
sale; and stop loss orders. but soon regained
the lost ground. closing &c higher than yes
terday. Ribs were affected mnch the same
as pork and lard. and closed with loss of
12l2c for September.
Lake freights steady at &c for corn to Buff
falo. Estimated receipts for tomorroy:
Wheat, so ears; corn, 4l0 cars; oats, 800 cars
hogs. 1900 head.
The leading futures ranged rs follows.