St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-07-20

CHICAGO, July 19.-Wheat went to
smash worse than ever today. There
was break of over &c bu in the De-
cember option. During the last hour
general panic seemed to take posses
sion of the owners of grain, and espe-
cially of wheat, and there was mad
rush to sell, which sent Sep
TENDER to csc and December
to re. breaking the low price
record anew for September. The
many failures in Denver and fresh
break in stocks were the moving factors
and ACKNOWLEDGEMENTS. apparently,
though there was some reaction in the
last few minutes. At the close July,
compared with yesterdays final quota
tons, was one cent lower; September
was off &c and December 115c. Corn
lost nc; oats 1c for July and &c for
September. Provisions are 3219c lower
for October lard and 10c for September
and October ribs. Pork is unchanged
and September lard gained 215c.
From the outset the financial situa-
ton eXerted depressing influence on
the wheat pit and brought IN many sell
ling orders. First prices we've at de-
cline of 13@1c. A small local failure,
L. NJ. SweeZy, increased the depression.
After the selling out of his long stuff
the feeling grew temporarily better.
Stocks were stronger for the moment,
and the feeling in London was said to
have improved greatly, and there was
liberal covering by shorts and Drisk in
vestmeut buying, which gradually
caused recovery of nearly &c. Nc
Pharan and Martin. Orr, Kennett-HOp-
kinS aid SchwartZ-Dupee led the buy
ing, aud for a considerable time the mar
ket had rather encouraging look.
Then came the announcement that
big banks at Denver which had success
fully stood the run yesterday had
closed, and prices again turned weak.
The market was full of apprehension,
and of the longs. while expressing con-
tidence in ultimately better prices. few
had the courage to buy. The scare was
so great that the export of clearanceS of
$4,000 bushels of wheat and flour, in
Guiding New Orleans. and the decrease
of 9. 750,000 bushels in available wheat
by Bradstreet'S were almost entirely
lost sig lit of.
Corn opened a trIfle easier, but soon
recovered and advanced $Sc.again eased
Off, ruled weak. selling off in all 15(0Mc,
and at the close was 130$4c lower. The
business was largely local. and the
early demand confined 10 shorts, who
were inclined TO cover. as the market
lad steadily declined all the week, and
reaction seemed possible. The
favorable crop reports did not
appear TO cut much OF a figure. The
RI or hE4ih fsiy lxy CT. hn
receipts for tomorrow came in at 500
cars, which started room traders to
selling, led by.one Of the prominent
shipping concerns. 1t was at this time,
too, that the news of additional bank
failures came i'll, with reports of the
slump in Wall street.
Oats were weak in sympathy with
wheat and corn, and on the absence of
good buvng orders and an increased
pressure to sell, prices declined $4@1c
on the mar deliveries. and the market
closed easy at the bottom. News from
abroad was builiSh, the Austrian crop
beng reported short aud prices higher.
The feature in provisions was the
support in September lard, which was
again pegged. This time Parker did
the buying around 1910 and took several
thousand tierces around the price sup
posed to be for John Cudahy. At the
same time the October lard was forced
lower until the discount was at one
time 81 .025l.
Lake rates were firm with light offer
ings and a good demand at 115@l5sc on
wheat, 1A@l$5c on corn to Buffalo. 115c
Ion corn t. FORT huron, aud &c for
wheat to Kingston.
Estimated receipts for tomorrow:
Wheat. ST cars; corn, 500 cars; oats, 22O
cars; hogs. 25,O00
The leading futures ranged as follows: