St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-07-18
EVERYTHING DOWN.
BANK SUSPENSIONS THROUGH THE
WEST CHECK TRADING.
OTHER NEWS ALL FOR NAUGHT

The Entire Chicago Market Closes
Lower-Granger Stocks Take q
Tumble in Wall Street-Out-
standing Short Interest Very
! Heavy.
CHICAGO, July 17.-With banks top
pling over in the West all other news
today went for naught on change. The
amount of wheat on ocean passage de-
creased 1852, 900 bu. and the visible sup
ply decreased 2,49l, 900 bu. or together
nearly 100000 blu. A falling off in
Russian shipments was said TO be caus-
ing nrmness in the English markets,
and, reports from the Northwestern
spring wheat region here were no more
ireassuring than before. Nevertheless,
tonight wheat is &c lower than Satur-
days close, corn is &c lower, and pro-
visions are considerably lower.
The decrease in the visible supply of
wheat, although heavy compared with
the 69l 900 decrease on the similar week
of year ago. still leaves 59.32S. 900 bu
in sight. compared with O., 439, 900 last
year. AT 60c per bu 1t still needs $780,
100000 TO carry the load, and with five
bank failures reported today in one
Western city and three in another the
difficulty in getting tine necessary large
amount to hold wheat told with effect
on the lively tmaginatiOns of the specu-
latiye crowd. Very little business was
done in the wheat pit, the bank suspen-
sions seeming to check trading. The
opening was about 14@5sc lower than
Saturdays closing. then became strong
er, and prices were advanced 36@15c,
ruled easter, declining 150%c, then
ruled quiet, and the closing was steady
at A94c from the bottom. The de-
crease in the visible was about what
was expected.
Corn was weaker from the start.
Rains were reported in the West and,
together with the bearish special report
on corn issued in Kansas, had very
weakening effect and induced free sell
ing. Receivers sold freely, one concern
selling 250,0U0 bu. Shippers also offered
large quantities. Increase IN the visible
supply was 81, 200 bu, but IN Chicago
there was a reduction of 237, 900 blu, max
ing the stock of all grades 1,74S.OOO bu,
against 4, llS.000 bu for the correspond.
ing date i'll 1892. Market opened with a
fractional loss, and after selling off &c
more held steady until the car lots for
tomorrow came in at 975 cars, when the
offerings were again increased and the
price broke 14@3sc. Later the price rail-
lied trife, but at the close had lost q
@5sc.
Most of the trade in oats came during
the last half-hour. The feeling was
weak and prices averaged lower, July
declining &c and September &c, and
closing weak at about the inside. Ribs
were again weak spoti in the provision
market. The receipts of hogs were
heavy and lower. There were anxious
sellers of September ribs. without any
one to take the offerings except at con-
siderably lower than Saturdays closing
prices. Chaplin & Edwards. Armour d
Go. and Wright were prominent among
the sellers. Lard was weak also. but at
$40 for September, Cudahy and Fair
banks, or both together, put enough
supporting orders to prevent a further
decline. Pork was neglected by both
Sides
The closing prices were at some re-
eovery from the bottom of the days
range, but at smart decline since Satur-
days. Compared with Saturdays close
pork is l5c down. October
lard soc, and September ribs soc.
Freights were quiet and steady at 114c
for wheat and 111sc for corn to Buffalo.
and 219c for.corn to Kingston. Estimated
receipts for tomorrow: Wheat, n cars:
corn, 975 cars; oats. 800 cars, hogs, 1900.
The X aling futures ranged as follows: