St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-06-29
One Chicago. Concern Con-
trolls All the Supply in
That City.
Weather and the Silver Col
Il lapse Too Much for
Grain Prices.
All the Cereals Decline and
Closed About at the
Bottom.
Wall Street Stock Market I'M
settled and Heavy Through
out the Day.

CHICAGO, June 2S.-Brilliant weather
and the silver collapse were too much.
of combination for grain prices today.
Compared with last night wheat shows
a loss of &c in July and from re to 9se
in September, the greater decline in the
latter representing just SC much added
to the carrying charge. Corn lost lie
per bushel and oats nc. Provisions
were frmer for September but weak for
July, and the carrying charges are
more onerous than ever. TO carry pork
two months costs sl.l0 per barrel. There
was a jump of sc in the price Of
flaxseed. The Illinois Seed company
owns practically all the seed in store.
which only amounts to about 100000
bushels, compared with 3,0lS,55S bushels
year ago. Not enough people are in
terested in the fax market speculatlvely
to create sensation, but in other re-
spects all the elements Of one are IN
present existence.
Nobody seemed to want wheat. The
pressure to sell July was unusually ur-
gent, and the discount on September
widened to 511sc,against 43sc few days
ago. This naturally created the i'm
preston that there was good deal of
July wheat not cared for, and that
money was not so plentiful as it was
thought it was a few days ago. All the
crop news seemed more favorable. har-
vesting is becoming general and cables
were easy. The failure OF trust COM
pany in Minneapolis and the rum ors of
other failures elsewhere added to the
bearish feeling. Not only were local
longs free sellers, but there were heavy
selling orders here from the Northwest
and from st. Louis. while the
buying was slow and cautious.
Cudahy, Orr, Logan and Kenneth
Hopkins were leaders on the sell
ing side, and shorts were the principal
buyers. The market reacted slightly on
Bradstreet's report of big decrease in
the available supply. The opening was
about 1s(@3sc per bu lower. ruled weak.
and prices further declined q C for July
and nc for September, held steadler,
bottom.
Tie very favorable crop reports and
large receipts. together with the action
of wheat. all tended to depress corn.
Opening trades were at 1S@Ac decline,
and under a moderate selling pressure
and lack of demand the market gradu-
ally sold off 5s05sc more. At the de-
cline the demand improved a little, and
market held steady, and at the close had
lost 1@l15c.
Offerings of oats were, liberal. The
best buying came from shorts" Prices
receded 5s919c and closed at about the
bottom.
There was lively advance in the
price of f1axseed, occasioDed by bad re-
ports of the growing fax crop in Dakota
and the SmallneSS OF the stocks here.
The shorts became alarmed, and, prac-
ticaliy one firm in the seed trade owing
the entire stock here, they were able to
get their own price for it, the result
being an advance Of sc per bu since yes
terday. This can scarcely be called
corner. but the result to people who
have sold fax short amounts to the
same thing.
Provisions are only slightly changed
from last night after many fluctuations
within moderate range. The feature
was the purchasing OF lard and ribs by
Wright and the packers. Trade was on
the whole light and spasmodic.
Estimated receipts for tomorrow:
Wheat, 80 cars; corn. 500 cars: oats, -240
cars: hogs. 24,O00.~ Freights were dull
and easy: shippers held off, and only bid
nc for wheat, and 1c for corn to Buff
falo, and charters for wheat were at
ne. Through rates lake and rail to
New York were lower at TIC for wheat
and &c for corn.
Z, The leading futures ranged as follows.