St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-03-07
MUCH BEARISH NEWS.
Wheat Was Depressed on Chi
cago Change and Closed
Lower.
Corn Ruled Firm and the Clos
ing Was a Shade
Higher. y
Provisions Were Irregular
and Weak. With a Lower
Closing.
Stocks on Wall Street Weak
From Opening to
Close.

CHICAGO, March 6.-There were
many discouraging features in the days
news TO holders of wheat. Money at 80
per cent in New York and talk OF a
strike among the railway switchmen OF
Chicago were perhaps the most depress-
ing items The market Opeued weak
and closed weaker, at decline or Use
since Saturday. Corn ruled firm ana
closed a shade higher than at the close
OF the previous week. Provisions were
irregular over considerable range, but
IN the main weak, and at no time dld
prices rise to the level Of Saturday 5
closing figures. Pork is off soc, lard
about l5c and ribs Zoe.
Wheat at the opening was about &c
lower than closing figures of last Satur-
day, and after numerous small tiuctua-
tions prices further declined lc for May
and sc for July. ruled quiet and the
closing was about 1lsc lower for May
and &c lower for July than Saturday.
The weather was milder and the visible
supply did not show the expected de-
crease, which was disappointment TO
the trade and accountable in large part
for the Sagging off of prices. 1t was eX-
pected by some that the visible supply
would show at least 1.0O0,0GO bu de
crease: but, when il was quite evident
that the decrease would he less than
half that, there was inclination TO sell.
The market seemed 10 receive some
support around the lower prices
reached. None OF the most prominent
traders was credited with doing much
TODAY. There were some crop damage
reports received from Indiana, illinois
and Missouri, while the crop IN Kansas
and Texas was reported in good condi-
ton. 1t was rumOred that the state re-
port of Missouri would show the condl-
lion to be about so per cent, but there
was no confirmation.
In the absence of decisive influences
professional operators showed DISPOSE
ton to act conserVatiYely in the corn
pit, pending the publication of the gov
eminent supply report this week. Two
or three houses covered short" lines,
and there was some trade believed to be
investment buying. With relatively
little corn for sale, and an absence OF
pronounced beariShneSS in the move
ment of the crowd. local 'shOrtS" pre-
ferred to cover their lines, and the
price was advanced Ease after the
opening until 44c was reached, which
called out a few sellers. There was
mild talk of a better export inquiry, but
clearances did not show any improve
ment, and cables were steady TO firm.
There was far trade in oats and
stronger feeling early, due largely to
the advance in corn. A feature was the
increased business in the deferred
futures, and September was quite freely
traded in for the first time this season.
1t was bought by carriers, who sold
June and July as a hedge at a good
premium. Fluctuations in May COW
cred 1l5c range, and the close was
at the bottom with fractional loss.
There was only moderate activity in
the provision market, and the main
feature of the trade was the raiding
tactics of Baldwin and Wright III pork
and lard, and an apparent support given
to ribs by Cudahy II Co.
Estimated receipts for tomorrow:
Wheat 800 cars; corn, 275 cars; oats, 100
cars; hogs, 1900.
The leading futures ranged as follows: