St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-03-23
TRADING WAS LIGHT.
Chicago Operators Fear the
Bull Clique'S Load Is Too
Heavy.
Little Trading by Outsiders,
and Local Traders Were
Afraid.
Victory Finally Perehed Upon
the Shoulders Of PPoviS-
ion Bears.
Tone of the Wall Street Mar
ket Showed a Decided
Improvement.

3uICAGo, March ~ There is great
restriction OF trade in wheat on account.
OF the fear that the load Of the bull
cliuue is becoming unanimously heavy
and unmanageable. Business today was
light from the outside, and not heavy
even among the local traders. The price
was C lower at the start, and recoV-
cred lie of the early loss. Corn was
stagnaut and unchanged. Provisions
were lively and irregular, with victory
perching on the shoulder OF the bears
in the end.
The reports coming to hand concern
ing the winter wheat were somewhat
varied, but generally speaking, damage
was acknowledged from many points
Europe, where everything up to date
was couleur de rose regarding theirwheat
prospects, reversed the picture today
and noted failure OF a portion OF the
Algerian crop and injury to that of
Spain and Hungary. General rains
were reported IN the wheat belt, with
mild weather. ard a growing probability
thatthe serious droughtin Kansas would
be broken and crop prospects materially
improved. GeddeS. Mills, Parker and
Bovden, supposed to be acting in the
interest of the clique, came iutO the pit
and took Nav freely for a time. causing
some reaction, which, however. was
only temporary. Linn was generous
seller Of May and bought puts last night
Of.Pardridge on 100000 at 1515c. These
free and extensive operations on the
part OF this usually conservative oper-
atUr led to a ruMOr thathe was helping
the CLIQUE to unload its big line OF May.
There was a rumOr that some No. req
winter wheat was being shipped from
Detroit to Chicago by rail. but 1t could
not be traced TO any reliable source.
The opening was about 1s@14c lower
for May and 1sc lower for july than the
closing figures of yesterday, ruled a
ili6e stronger and market tluctuated
within 5sc closing easy.
The probable collapse of the Kansas
dry spell was partly Offset by reports of
floods in California and dispatches from
Missouri points saying the crop OUTLOOK
as worse than since 1885. Bradstreet's
available stocks showed less than one
fourth the decrease looked for.
Corn operators were disposed to in
ferpret the rain as meaning smaller re-
ceiptS, owing to bad country roads, with
POSSIBLY Door grading, hence bought a
little corn. Purchases by those friendly
10 higher prices caused about &c ad-
vance, bnt this support was soon with
drawn, and the market sagged to about
I'D prices.
There was a light trade in oats, most
~ in the way Of changing from tine near
60 the distant. A weaker feeling pre-
vailed. and the close was at net decline
Of is@4c.
Hog products opened weak and lower
on increased receipts Of live hogs and
the executing of a batch of orders by
commission houses. The shorts bought
quite freely. and as soon as the offerings
were taken the market advanced to top
prices, but the volume of trading was
light and the undertone weak. The
Improvement under raiding by Wright
and Baldwin WAS of brief duration, the
market dropping below the bottom
prices of the day. and closing weak.
The decline from last night varied from
DC to SOC.
Estimated receipts for tomorrow:
Wheat, $40 cars; corn, 40 cars; oats,
Ia cars; hogs, $4,000.
The leading futures ranged as follows: