St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-10-29
PRICES ON THE SLIDE,
Cereal Values on Chicago
Change Going Toward
the Bottom.
Wheat, Corn and Oats All
Break the Record for the
n Year.
8
Provision Prices, Except for
"a Ribs, Also in the
Slough.
70
Distillers the Overshadowing
Feature in Wall Street
Speculation.

CHICAGO, Oct. 2S.-The way the markets
broke today was simply Tennysonian. After
the record smashing almosC daily during the
past week i'll the line of low prices. wheat
THIS evening, compared with twenty-four
hours ago. shows a decline of 1ssc for De-
cember and 1lsc for May. Corn is Csc lower
for November and from i2c to 5Sc lower for
the later deliveries. Provisions, with the ex-
ception of OCTOBER ribs. are >also i'll the
slough. October pork is l1l2c lower. Novem-
Der 22l2c and May &c lower. Lard for Oc-
tober dropped 17l2c, for November l2lac and
for January 15c. October ribs are 25c up,
November SOC off and January 15c off.
The wheat trade seemed 10 have come to
full realization OF the bearsh conditions
which have been steadily on the increase for
some time, and longs, who have been hold
ing on the hope of some improvement in the
outlook. seemed to have lost all courage, and
began 10 drop their loads. This was more
especially the case with holders of the near
futures, and December fell to &c discount on
May, and October TO &c discount on Decem-
Der. Short sellers also showed more bold
ness; and the offerings we've urgent. while
the demand was sluggish. and shorts who
take profits abou; the only buyers.
Cables were lower domestic markets
heavy, the receipts everywhere large and the
tracks crowded with cars waiting to go 10
store. Vague rumors of a local failure were
in speculation. and for a short time in
creased the weakness. Though they were
not confirmed, the market was SO heavy
there was little recovery. Partridge. who IS
supposed to have a big short line out. bought
pretty freely on the decline. The opening
was about Ac lower, and prices further de-
clined lac for December and lc for May,
then recovered slightly, and the closing was
about lSsc lower for the former and 1c lower
for the latter future.
Corn was lower. in sympathy with wheat
Tnfi lnd
relatively steadier than the rest of the list.
The clear and favorable weather all over the
West induced q good deal of selling as favor
ing an increased movement. There was
rather free selling of the near futures by re-
ceiyers, and some OF the prominent buyers of
late were also supposed to have sold out. but
the covering of several short lines on the
decline checked the downward tendency.
premium, was one time today at Ssc discount
Opening trades were 1sG14c under the final
quotations of yesterday and gradually de-
clined under free offerings 12Gls4c. rallied
4c, declined A@sSc. ruled steady and closed
with a loss for November and December of
"a d7Sc and MAY sac.
Oats held up better than any other, as the
receipts were only $50 cars. where 210 cars
had been expected. The big stocks III local
elevators serve to depress near months, while
some support is shown May the part of
investors. Opening firm the market held
about steady for time, but after the break in
wheat and corn declined A@gSsc under rather
free speculative selling.
In provisions offerings were liberal. both
from the long and manufacturing inter
ests. and the demand from all sources was
only fair, with the bulk of the purchases
credited to shorts" Prices ruled materially
lower on all the leading articles and the
market closed at about the inside figures.
Liberal receipts of hogs and the weakness in.
grain were the chief causes of the depression.
Prices received no support from the bull
clldue except i'll the matter of october ribs,
which were moved up 25c per 100 pounds.
3 Freghts were slow. Shippers were trying
10 force decline in rates. but did not sue
ceed, as vessel men preferred carrying ore
Rates were unchanged at FAC for wheat and
2e for corn To Buffalo. Estimated receipts for
tomorrow: Wheat $40 cars corn, 43o; oats,
100; hogs. II. 900 head
The leading futures ranged as follows: