St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-03-28
4 TWO-CENT TUMBLE
Wheat Received a Bad Set
back on Chicago Change
Yesterday.
from Opening to Close the
Downward Slide Was I'm
checked.
Corn, on Rumors Of a Squeeze,
Broke Away and Sailed
Upward.
Cats and Hog Products Also
Gained--Isolated Activity
in Stocks.

Cu1cAGo March ga two-cent tumble IN
,.haot was mart of the entertainment on'the
hoard of trade today. Corn too, was full OIL
interest and on rumors of a squeeze broke
clear ont of the traces from wheat, jumping
I'M full yac The lack of any appearance
of onv blood on the moon after the war-ilke
minors of the final hours yesterday was
what first upset wheat. Opening trades
were about 1c decline and the slide from
there down was almost without check BE-
fore two hours of the session ha passed.
another cent had been Knocked Off the
price But for the heavy purchases OF far-
bridge on the decline, a still further reduc-
lion would undoubtedly have had 10 be re-
corded. The trading was heavy and the
nominal profits to buyers since the previous
drop to S04c for May were all wiped out
Gables were woefully disappointing, mold
ers unable to sustain the advances, cont
mental crop prospects improving, mo conn
dence in present prices and such adYices
coming thick as leaves.
The receipts at Minneapolis and Duluth
were 722 cars, against 537 on the week before.
and the aggregate of the clearances or wheat
from the principal Atlantic ports yesterday
was under 10000 bushels. The failure in
London of prominent firm of iron manu-
facturers, with a capital of S20,0000OO, com
pleted the list OF bearish factors, Wnne
moist, mider weather in the winter wheat
country was used as complete offset tC the
crop damage reports Of the day before.
There was a reaction from S0ac to S0s4c, fol
lowed by another decline to S0S5c sellers, but
upon an attempt by Dorr to corner 100000
bushels of short wheat accompanied by
similar break for freedom on @5.0CO bushels
at the last named price, without an lmmedl-
ate response from sellers. the crowd laShed
itself into miniature bullish fury for few
minutes and ran the price up to Sl1Sc.
The advance last referred 10 was helped by
better closing cables than expected: but
after touching size it again sold OFF and
closed al Sys4c. There was some talk OF BAD
crop prospects i'll Kansas and cold weather
TO follow the present mild spell. 1t was gen
orally estimated that the visible supply re-
port of Monday win show an increase in
wheat of 100000 bu The London iron fail
ure was first reported here as the collapse OF
a grain and stock firm, increasing the force
OF the blow.
The corn shorts are getting very nervous
over rumors that strong parties are working
20 force a squeeze of the May shorts. Evi-
denceS of a ticklish situation are appearing.
While other markets are heavy. corn has
moved up from IS cents to better than Al
cents for May. Aside from manipulation,
the argument on the bull side is that delayed
farm work will call all hands to the fields
before any quantity of contract corn reaches
this market, The May price today started
around 30lsc, with sales at 394s, possibly 59a4c;
dropped on the early selling to 398s@30I2c;
sold 59S4c to 3912c. and then up to 4Olsc be-
fore 1 o clock, getting another hit after
clock to 4Cssc and closed at 4OAc. 1t was
said that Schwartz, Dupee and Cudahy had
become big buyers. The former is supposed
10 control the bulk of the contract grade i'll
store.
Oats were strong and fairly active today.
the market advancing with corn and closing
fully SEC higher Counselman d Co. and
Bartett-Frazer were the principal buyers. At
New York 10000 bu were taken for export.
The receipts were below the estimate.
In provisions, scalping was the main feat
uTe, u. j. Ryan buying pork on a consider
able scale and putting it back on the market
again at small profit Other local operators
pursued a similar course. At the close May
pork showed an advance of 10c, lard and
ribs. 212c.
The estimated receipts for Monday are:
Two hundred and twenty cars of wheat. $50
cars of corn, 200 cars of oats and $1,000 head
of hogs. The estimated receipts of hogs for
he entire week are 1870 900 head.
THE leading futures ranged as follows: