St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-10-26
TWAS A LIVELY MARKET.
SILVER CUES TON AND VISIBLE SUP
Pr CUT A FIGURE.
SEVERE BLOW GIVEN WHEAT.
Bradstreet's Reports Enormous
Increase I'm the Visible Supply
Which Forces a Drop in Prices
Provisions Again Dull and
Lower-Operators in Corn "at
Sea" During the Afternoon.

CHICAGO, Oct. 25.-Repeal has spent
its force. That seemed to be today's
verdict in the wheat pit. Yesterday
mere rumor of the repeal of the silver
purchase was sufficient to add &c to the
price of wheat, and today. with that re-
peal in clear view, the price declined
almost 1c. Repeal, it was rumOred, will
make wheat none the less over-plentI-
full, and unless either the receipts be-.
come smaller or the foreign demand
more urgent, it can have no lasting in
fluence. unless through the revival Of
the general trade of the country.
Corn dragged on falling off in the
cash demand, but in strange coutradic-
ton to the expected effect of lighter re-
ceipts. The close was at quarter of a
cent under yesterdays final quotations.
Provisions were again dull and
neglected. at considerably lower prices,
The worst blow to wheat was when
Bradstreet'S statement of the visible
supply was received, few minutes
after II O'Clock, reporting an increase of
2,735,000 bushels east of the Rockies
and 492. 900 bushels west, and an in
crease of S32 900 bushels in the European
stocks and the quantity afoat, thus
making an increase in the worlds stock
i'll sight of 4,059,000 bushels. The re-
ceipts in the Northwest continued quite
nominal, and the export clearances
were small. Foreign reports indicated
more liberal shipments of Russian
wheat. The opening was about 1s@Ssc
lower than yesterdays closing figures,
eased off 4@19c, then rallied 3s@24c
for December and 1I@5sc for May, but
again settled back &c, and the closing
was &c lower for December and %(01c
lower for May than yesterday.
The market looked as though some
party or parties were feeding the mar
ket freely on each rally.
Operators in corn were apparently
sat sea' during the latter portion of
the day. The bulk of the business was
credited to the room traders. The mar
ket opened rather steady at about &c
decline. and a further reduction of 800
&c was submitted to. About the middle
of the session little more steadiness
prevailed and prices rallied %@4c, but
settled back slightly, and the market in
a general way closed steady.
In oats there was no particular press
ure to sell. prices were confined to the
&c range, and ciosei at &c below yes
terday's. The near futures were neg
lected. Hateley Bros, A. S. White &
Co. and the Chicago Packing company.
who have been for some time back the
main supporters of the October prices
of hog products, were free offerers. not
only for the present months delivery,
but for January as we'll. and that was
the chief cause of today's decline. The
market became very weak in lhe clos
ing minutes of the session, compared
with last night. October pork is SOC off,
and January 2719c; October lard soc.
and SANITARY l0c; October ribs 45c, and
January 1719c.
Vessel room was in good supply, and
rates easy, but no change made. The
charters to Buffalo were at 215c for
wheat and &c Tor corn. l.
The estimated receipts for tomorrow
are: Wheat, 160 cars; corn. 300 cars;
oats. $50 cars, and $4,000 hogs. H7
The leading futures ranged as follows;