St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-07-28
news FAVORS BEARS.
All Pits on Chicago Board of
Trade We're Rul ed by
Weakness.
Corn Alone Gave Any Evil
dence of Activity in the
List Of Cereals.
Loss Of Nearly a Cent in
Wheat, With All Articles
Following.
Industrials Again Showing
Life on the New York
Exchange.

CHICAGO. July 27.-Weakness ruled today
in all the pits on the board of trade, and
everything closed lower. This tone was ac-
companied by light trading i'll everything
except corn, which was quite active. The
weather was factor every where, in the pro-
vision crowd as we'll as among the dealers in
cereals. The weakness was pronounced and
general during the last fifteen minutes OF The
session, and everything traded in closed at
or near the lowest prices of the day.
Nearly all of the news was bearish. and the
combined result was loss of 7s0lic in the
value of wheat. Cables were weak and gen.
orally lower with domestic markets also
tending downward. The -ery favorable crop
reports published this morning, with the
news of cooler weather in the Northwest and
liberal rains in that quarter, also helps to
cause weakness.
Another reason for depression was found
in the sharp slump which took place in corn,
and which extended to the other pits. The
crowd appeared to be generally long and the
appearance of weakness started the selling,
and the unloading was quite general. The
buying was not sufficient to absorb the
offerings readily, ard weakness ruled. Bros
seau, Logan, Dunn, Cudahy, Clifford and
others were generous sellers; New York. ST.
Louis and the Northwest had free selling or
ders here.
September opened &c lower at 7Sc, frmed
up to 7Slsc on local buying, then gradually
sagged away to 71I2c. held for some time
around 17l2@7fasc. touched 77s4c momenta-
rlly during the last hour, then near the close
weakened 10 and closed steady at 77s8c.
Corn was decidedly weak and lower, and it
did not take September long TO sell off 1Sc
from last nights close. The chief cause of
the weakness was the reports in the morning
papers denying the sensational crop damage
reports which have been so industriously cir
culated during the last few days. There was
some complaint of dry weather. but some
rain has already fallen.and more is predicted
by Uncle Jerry Rusk's weather bureau.
All of this started holders to selling at
once. Logan, Counselman and Day,
Schwartz and Baldwin. who have been the
bulls heretofore. all had lots of corn for sale,
and prices started at once on the down
grade and showed little rallying power.
September opened Sac lower at soc. sold at
5Clsc then broke steadily TO 494c, rallied
some during the last hour and closed at
49l2c.
Oats were weak. in sympathy with corn,
but did not slump so decidedly, closing
with loss of only ssc for September.
Hog products were dull and weak during
most of the session. On account of the eX-
cessively hot weather operators were inclined
to merely take care of orders received Prices
for the leading articles averaged lower, due
10 the increase in the hog supply and slight
decline i'll prices and the quite liberal re-
ceipts of products reported. The bulk of the
offerings however. was credited 10 longs"
who held small quantities, and who desired
TO realize their profits. Pork closed with a
loss of 2C@922l2c- lard sc, and ribs 1l2@i2c-
The leading futures ranged as follows: