St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-04-12
DISAPPOINTED BULLS.
An Expectation That Shorts"
Would Be Pushed Hard
Proves Wrong.
The Price OF Wheat Started
Strong, but Broke Badly
Later On.
Corn, Oats and Hog Products
Show Little Disposition
to Improve.
Fractional Gains on the New
York Stock Exchange, but
Dull Trading.

CHICAGO April IL. - Everybody was ex-
pecting al the opening on change today %
see shorts" pushed hard in consequence of
the depressing government crop estimate
sent out from Washington after the close Of
trading Saturday. The first disappointment
10 the bulls was the cables reporting the
course Of the foreign markets. Ii was re-
carried as the most natural thing in the
world that they should start off excited on
our poor crop outlook. and this was relied
upon 10 start the ball here. But to the sur
prise Of everybody Liverpool aud London
both opened lower and with some evidence
Of decentralization; Ii was explained that this
was due 10 an important failure in London
but the fact remained that the English mar
kets were lower, aud domestic markets also
soon showed a hating tendency and added
to the hesitation mere The price OF May
wheat started strong al SIC bid, and with Il
few sales as high as size. compared with
sion on Saturday. The quotation set
tied down TO e3@4c, then up. with
some excitement TO SI2c. then broke irregu-
laIly 10 S2Iac, and at II CLOCK was s Rae Ait
or the noon hour the market had another
spasm OF weakness and May went off 10 SILc
reacted 10 sIS3c and at ! o'clock was Slice
There was additional weakness during the
last fifteen minutes of the session and May
wheat felI 10 SUSBc or Whereabouts at the
close.
The London failure, which had sucn n
marked influence, was represented az that of
prominent grain house having interests in
California. India, America and Russia Then
rumOr was circulated that kussia's pro-
hibitory movement would he removed and
there was some mention made of the anti
option bill being fayorably reported 10 CON
gTess from committee Bradstreets' report
OF the worlds available supply of l43,O 100
bu against W, Jte, 800 blu a year ago was also
made use of by the bear" interest and
helped the decline.
The corn markc: was not active after
he first hour. There was good support, even
when wheat was demoraliZed. the opening
was strong with everything else on the floor
There was an advance of about lee. putting
the May sc over the close Saturday. the
selling which followed. helped by elevator
men. together with the break in wheat sim
ply put the price back 10 Saturdays figure
The movement TO this market continues
light. Receipts were but li2 cars.
Oats advanced early with wheat and corn
but weakened later on with these cereals and
e.osed about steady at Saturdays figures
The market was fairly active throughout the
session. The shorts. led by Counselnan.
bought fair quantities, while the elling was
general.
IL was dull day in the provision pit.
Fluctuations were over a narrow range and
III the end prices were slightly lower for
pork and no higher for lard and ribs than at
the end OF Saturdays session. Cash sales OF
io9VOo bu ordinary No spring were reported
here today ut i3c over the price for May and
lO.U00 bu hard spring at 2i2c premium
The estimated receipts for tomorrow are:
Wheat. 81 cars corn, 80 cars; oats, 100 cars;
hogs 1902
Shippers were bidding &c on wheat to Buff
falo, while yesselmen were holding out for
2Ac. A large fleet was OF. the market.
The leading futures ranged as follows: