St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-09-13
PRICES TAKE A DIVE.
Everything Dealt In on Chi
cago Change Ranges
Lower in Price.
Large Increase in the Wis
ible a Weakening Influ-
ence in Wheat.
Heavy Receipts Of Hogs
Bears the Prices OF Pro-
visions.
Several Elements Combine
to Depress Values in the
Stock Market.

CHICAGO, Sept 12-Everything on Change
took dive today. The most prominent
causes for the general downward move ment
were al addition of nearly $780, 900 bushels
TO the visible supply of wheat, the renewed
failure of frost damage predictions as to corn,
ana the heavy receipts of hogs. Compared
with Saturday wheat is Ssc lower and pro-
visions 50l1l2c
Wheat started trihe higher on the better
English cables and the generally accepted
Duiilsh nature of the government report.
There was pretty good buying around the
opening by Logan, Mitchell and others. But
Baldwin Farnum, Schwartz Dupee, Brosseau
and Partridge met the demand freely, and
on this heavy selling the market began to
weaken. report that another pest ship
had arrived at New York. and the weak feel
Ing which ruled in corn, added to the de-
preston, and there was gradual decline.
A dispatch received by Schwartz & Dupee
that Russian wheat was being offered freely
to arrive in France at lower prices than
American also helped to increase the depres-
sion about this time The crowd began to
question whether the government report
should after all be regarded as bullish 1t
revealed nothing new concerning the winter
wheat and went far TO contradict the stories
which ha; e been so freely circulated of late
OF tue great damage in the Northwest. This
course of reasoning made the temper of the
crowd less bullish than at first, and the mar
ket continued to weaken during the last hour
on free selling, the big increase in the visible
and little demand.
Corn opened Al about where it closed Satnr-
day. but the absence of frost. the weakness in
wheat ana the fact that the gOverum, Mt e.
port was more favorable than eXp.c.ed
started free selling, which resulted III loss
OF 7sc i'll the price, with only slight re-
covery. The government report indicates
crop of over 1,7uJ, 100000 bu, which is 1G9,-
0o0.0)O bu more than the Price Currents estl-
mate last week. and hence the trade is in
ciIned to look at ii as bearish. There was
some reaction on probable frosts tonight
through Nebraska, Kansas and Iowa. but this
was Offset largely on liberal estimates for to-
morrow of 800 cars
Oats opened a little higher and suffered a
sharp and sudden decline through free sell
ing by the larger commission houses The
May future, in which the interest was CEN
tered, sold from Csc down to 374c, with only
one or two feeble attempts to rally as the mar
ket broke.
The heavy receipts of hogs. justifying the
estimates made on Saturday, was one cause
which tended to create weakness in pro-
visions at the opening The estimate of
only 5000 hogs for tomorrow re-established
confidence for time but weakness pre-
dominated again and the general market
was not far frOI. bottom prices at the close.
The heavy holding Of ribs by Wright. with
the declining market has started much
speculation as to the outcome of the So
called deal in this product
Vessel room was II, good demand. but not
many boats ready to load we offered. Rates
to Buffalo were firm at 2Iac for wheat and
24c for corn.
Estimated receipts for tomorrow: Wheat,
$50 cars: corn, 900 cars; oats, 40 cars; hogs,
100 head.
The leading futures ranged as follows: