St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-05-11
Prices on Chicago Change De-
cline Because of the Brill
liant Weather.
Wheat, Corn and Oats Close
Considerably Lower Than
on Tuesday.
Nobody but the Clique Knows
= Anything About Provi-
8 SionS' Course.
Wall Street Bears Succeed in
Establishing Considerably
Lower Prices.

CHICAGO, May III. - Inc brilliant
weather throughout the West seemed to
dazzle, if not demoralize, the bulls to-
day. Compared with last night prices
show declines of 1sc in wheat and corn.
&c in oats. Soc in pork, sc in lard and
1910 in ribs. There was marked i'm
provement in the crop outlook during
the twenty-four hours. The rains in
continental Europe appeared to have
greatly relieved the situation there. and
there had also been some rains i'll Kan
sas. All reports from the Northwest
indicate vast improvement in weather
conditions there, with seeding going
on rapidly and approaching compile
ton. The Missouri report was also
said to be better than expected yester-
day, showing a condition of II, instead
of 70, as then reported. All this. taken
in connection with the Wall street de-
moralization and the general distrust of
finances, made the bull crowd nervous
and hesitatIDg, and there was free sell
ing and not much demand. Longs made
haste to unload and short sellers dis
played more activity than for some
days. But the bears did not have it all
their own way. On the break shorts
took profits, and the Michigan report
was said to show 10 points de-
cline during the last month. The
government report this afternoon
was expected to make a very un-
favorable showing, as 1t would only
deal with conditions up to May l. En-
.glish cables were firm, and it was re-
ported that the English crop was in
jeopardy, as they had had no good
rains there for fifty-seven days. Werst,
ArmOur'S expert, who is travelling over
the wheat country, was quoted as say
ing that the Kansas outlook is not as
bad as reported. but that the winter
wheat crop is likely to prove S0,000.O00
bu less than last year. The market
turned very strong during the last hour
OH the sensational higher Berlin and
Paris cables, which showed advances OF
2(0254c, but in the final trading there
was another decline, due to selling APP
parently Oh account Of the good grow
ing weather and the disposition to even
up for the Washington crop report.
Corn at the start was quite weak, nu-
merous selling orders being on hand.
largely from the interior, and first trades
were anywhere from re to &c under the
final figures of yesterday. The decline
caught a good many stOp-loSS orders.
which only tended to increase the weak
ness. The fine, spring-like weather,
both here and over the West, made the
distant figures relatively weaker than
the nearby deliveries. The market,
after the weak opening. sold off frac-
ton more. when the price rallied
Oh buying by shippers. May
being in good demand and not
freely offered. A better cash demand
was also reported from the East. and
this aided the advance very materially.
Prices were up 38@19c, reacted 4(03sc,
ruled steady, and at the close nad lost
L(01c. The Missouri weather bulletin
in it's remarks said that much seed Was
rotting in the ground, and that nearly
all the corn planted three weeks ago
would have to he replanted, and that
few counties reported any material
work done. That helped to re-establish
confidence.
The oats market opened considerably
weaker. owing to the fine weather.
Dreyfus was heavy buyer on the de
cline. Counselman & Co. and E. A.
Driver were also large buyers. The
report that there were large quantities
u OdtS ought lOT export CduSeu lH6
shorts to take hold, and that, with the
decrease of 1,445,O bu of oats in Brad
streets report, caused the market to
firm up again, but all the decline was
not recovered.
The Wright Cudahy combination ap-
parentiY controls the provision market
to an extent that makes it all guess
work for others to operate. When the
trade started this morning the hogs
were posted at $4,000, instead of $4,000
estimated The cables told of some talk
of cholera abroad, and some restrictions
placed on meat. The first prices. showed
a break of 10025c all around from Tues
days closing. Then there was someraid-
ing in pork by Baldwin, seemingly in
the interest of the clique. On the break
pork and lard were taken by Wright
and Cudahy brokers. There was no at
tempt to mark up prices, but simply to
take all offerings. The volume of trad
ing was light, prices see-sawing up and
down, closing weak.
Freights were quiet at lie for wheat
and 1c for corn to Buffalo and SC for
cora to Kingston. Estimated receipts
for tomorrow: Wheat, 200 cars; corn, $50
cars; oats. 260 cars; hogs, $4,000.
The leading futures ranged as follows: