St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-08-09
WAS A DAY OF SLUMPS
WHEAT GOES DOWN THE SCALE TWO
CENTS A BUSHEL.
UNEASY FEELING In CHICAGO,
Bears Make Sharp and Precon-
certed Onslaught on the Stock
Market-Suspension OF II. l..
HOtChkiss & CO.-Northwest
Breaks Four Points-Arrivals
of Gold From Europe.

CHICAGO, Aug. S.-Wheat slumped
&c bu today, but recovered sc of the
loss. Corn closed sc lower than last
night. DisQuieting, but apparently
baseless rumors of more financial
troubles. locally, were chiefly RESPONSE
BILE. In addition, the trade was hoping
that the presidents message would con-
tain some suggestion OF means to i'm
mediately relieve the present conges-
ton pending the deliberate discussion
OF permanent remedy.
Provisions acted strong on light re-
eeipts of hogs, and closed considerably
higher for lard and ribs, but at the last
moment pork weakened. and closed
with loss of from loo to 1215c.
Wheat at the opening was about the
same as yesterdays closing to 14@39c
lower, and with some fluctuations
prices further declined 1%c for Sep
TENDER and 1Tc for December, then
fiuctuated some, and the closing was
about 12Sc lower for September and
| ] &c lower for December.
An uneasy feeling existed, and there
was rather free liquidation, notwith-
standing the quantity of wheat and
600 bushels; reports of 100000 more
gold coming to America, and the Hi.
nolS crop report being decidedly unfav-
orable, reporting the yield per acre the
smallest since 1885. and the crop the
smallest harvested for years. There
was some shipping demand, and some
lots were worked for export, and more,
1t Is said, would have been done but for
the difficulty in selling exchange.
Corn opened firm, the hot, dry weather
everywhere, except few scattering
showers through Colorado and the ex-
IRENE Southwest, having this tendency,
and the first trades were at 4@36c adj
vance. The market, however, immedi-
ately sold off, declining %001c on I'M
founded rumors coming from New York
OF fresh financial troubles there and in
sympathy with wheat. The price
worked up again about as quickly as it
had declined, recovering one-half of the
break, but again sold off on predictions
from Washington that showers were in
dicated for Kansas, Nebraska aud Iowa.
The market changed some, ruled easier
and at the close the near futures were at
| Is@118c easier, and distant deliveries
16@4c lower. Selling of September and
buying of October was feature.
Prices for oats fluctuated 16c, and the
close was weak at nearly the inside
with net loss of 75C05sc. The depres-
sion that affected other grains was the
chief cause for the recession IN oats.
Although Eastern shippers of hogs
We're out of the market owing to the
collapse of exchange, the receipts of the
live animals were not enough to meet
the demand which came chiefly from
local packers. The result was firm
ness III the provision market, although
there was only light trade compared
with last night. Lard is from zoe to
2219c higher, and ribs from 1Oc 10 15c
better. Pork was firm until just at the
close, when it slid off 25c per barrel.
Freights were weak at 4 C asked for
wheat and 1c for corn to Buffalo.
Estimated receipts for tomorrow:
Wheat, 90 cars; corn, POO cars; oats, 100
cars; hogs, $4,000.
The leading futures ranged as follows: