St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-10-16
Low POINT OF the YEAR.
DECEMBER WHEAT AT ONE TIME
TOUCHED SO 81 CENTS.
HEAVY RAID1NG BY BEARS.

Corn, Oats and Provisions All
Take a Tumble Down the
Slide - Unsettled Feeling on
Wall Street Results in Fever
ish Trading Slight Advance
on Most Stocks,
CHICAGO, Oct. lathe wheat trade
had hard time of it today. Later in
the session the bears pressed the SELL
Ing and forced prices to the low point of
the year. December broke the last half
of the hour to 63$4c, and closed 11Sc
under last night at 631sc. This was ZIG
off for two days. Charters were 227, 900
blu for wheat, but nothing can appar-
emily prevent large increase in stocks
here for the week, and an enormous in
crease of 100000 bu or more in the
visible supply. The dilatoriness of the
senate concerning silver continued as a
weakening influence.
Corn is 11sc lower, oats from u to &c
lower, and provisions likewise yielded
TO the general heaviness.
There were no cables and practically
no news from the East. nearly all the
wires being down, and operators were
left somewhat at ease.
This gave the bears an excellent op-
portunity for raiding, and they i'm
proved it. If wheat or other cereals had
any friends they hardly showed them
selves. The market yielded easily on
hostile bear demonstrations and showed
no rallying power. Holders who have
been bravely fighting the decline for
weeks got demoralized and let go; stop
loss orders became operative and selling
on exhausted margins, completed the
decentralization. Nothing seemed favor
able for the cereals; the exports for the
week were light, the deliveries in the
Northwest were again large, and the de-
mand was even less than yesterday.
On the break, Partridge covered a
good deal of his short line and Brant
Walker did the same, but the demand
was nil in comparison with the offer
lngs, and weakness and depression re-
suited. The opening was about sc
lower than yesterdays closing, and
with only slight changes prices further
declined 119@124c, the May future suf-
fering the greater decline, then held
steady and the closing was B@Ac from
bottom.
Corn was depressed by the action of
wheat, the offerings of new corn for
future delivery. Parties who are sup
posed to be among the largest ''shorts"
were again selling freely, while the
buying was scattered and mainly to
cover "shorts" the smaller traders be-
ing inclined to realize. Market opened
with &c loss and gradually worked
down 116c, rallied 8@4c, changed
some, ruled steady and closed within
&c of bottom figures.
Oats declined &c for May. and closed
at &c above the bottom, with net loss
Of &c. The near futures were off
4039c at the close, but the trade was
light. Longs" unloaded freely, and
the market did not have good support.
Provision traders had dull day. In
the absence of active operations, prices
dragged down somewhat in sympathy
with grain markets. There was some
little development looking like shorts
sales by the local trade. Prices were
largely nominal, with trades scattering.
Closing figures were the lowest of the
day, SOC down for January pork; 900
1Oc off on lard, and 712@15c lower on
ribs.
Vessel rates were steady at &c for
wheat and 1$lc for corn to Buffalo, all d
&c for corn to Kingston. Estimated re-
ceipts for Monday: Wheat. 225 cars;
corn, 1,S00 cars; oats, 500 cars; hogs,
$4,000 head.
The leading futures ranged as follows: