St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-03-14
PR|CESSTILL GO DOWN

CHICAGO March 12-Everything dealt in
on the board of trade was again weak and
lower to-day. The news was generally bear
ish, and the conditions rather disconraging
to holders. Cables were weak and lower and
on the continent some Generalization was
reported, especially at Berlin. and one dis
patch said that London buyers had reduced
their bids Is. though the first public report
quoted the market as weak, but only 1@1l2d
lower Domestic markets all had down
ward tendency and the bulls seemed tired
out and discouraged
The fine weather here and the mildness
which the weather map showed to be pre-
vailing throughout the winter wheat belt
was also q weak factor The trade was light,
the demand being largely confined to the
covering of shorts, very few operators being
disposed to buy for investment, even after
the scent drop. and with sellers plenty and
times urgent the weakness was most natural
and the decline easv. Foreigners were said
to be selling freely at the seaboard, and a
lull was reported in the export movement
New York reported a failure there of an ex-
port house, but as it was found that the con-
Germ was not large one, and that Mcintyre
& WardWell had assumed all their contracts
its effect was not very important Partridge,
Schwartz-Dupee and Brosseau were among
the most generous sellers though Baldwin u
Farnum also disposed of good line.
There was some effort made to check the
weakness by raising q weather scare, and
story was started that cold wave was head
ed tor the winter wheat country, and that
the mercury would be 10 to 20 degrees below
zero in some parts of Kansas and Missouri
tomorrow. But it fell flaI. the undercurrent
being too weak to be much affected. IL was
generally accepted as an effort to make
hard spot either TO unload long wheat or get
out more shorts.
The exports from both coasts for the week
were 3. 734, 000 bushels, against $780,, 900 BUSH
els for the previous week. and thirty-tive
boatloads were reported at New York; but
even this had no perceptible effect Bulls
were tired and discouraged, and the bears
had all the nerve and confidence. Still the
covering OH the break was sufficient to pre-
vent any great slump in values. May opened
at S7SB@8l5Sc, against S79sc at the close yes
terday broke to S67sc, to SIC, rallied to S7Ssc
went off to s6s4c, strengthened on covering
by shorts, and closed steady at S73sc.
Corn continued weak and lower range of
values was again recorded. The weakness
was due to liquidation, largely by country
holders, the government report evidently
havinga bearish influence in the interior.
and the weakness in wheat caused a sympa-
thetic bearish feeling in the corn pit, longs
Offering quite freely. Large receipts were
also weakening factor. May opened at 4334
@41c, against Ale at the close yesterday. and
sold down to 41sc; then shorts began TO
cover. and this, with some investment buy
ing stopped the decline and caused rally
which brought the price up to 4O5sc at the
close.
Oats were traded il freely during the early
part of the session, but the last hour the mar
ket became quiet. There was free liquida-
ton by longs early and no demand, except
from shorts. who bought literally. The
heavy offerings. however. produced weak
ness. and Nav closed at 205sc q loss of Csc.
after having touched 29SBe
Hog products, in the absence Of any other
news to affect prices. were governed largely
by the fluctuations in wheat and corn. The
market was dull and with narrow fuctua-
tons. Pork and ribs closed 2Isc lower while
lard was unchanged.
Estimated receipts for Monday: Wheat, 1S5
cars: corn. 305 cars; oats, 140 cars; hogs,
10000 head.
The leading futures ranged as follows: