St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-04-11
MAY AN EXCEPTION.
Chicago Gears Had Occasion
to Rejoice at the
Close.
Nearly Everything Traded in
Declined During the
r Session.
= ~
hay Wheat, However, Closed
With an Advance OF
Ny "a Cents.
heavy Prospective Gold Ship
mentS Affect the Values
Of Stocks.

CHICAGO, April 1O.--The majority OF the
Board of trade shorts had reason for rejoic-
Ing at the close of today'S market. July
wheat was 7Sc lower, corn was of lSc, oats
Ec.and there were material declines in PORK,
lard and ribs. The exception was in the case
81 those short of May wheat. That partlcu-
lar delivery closed lac higher than it did on
Saturday. The clique were not sellers OF May
wheat; they merely leased the shorts. and 1t
has now become with the latter question Of
Ebility 10 put up margins. That ability will
apparently be severely tested III the next two
weeks
bulge of 24C was witnessed during the
nay in May wheat Partridge seemed to be
she leading buyer, and had half a dozen brok-
PRS in the pit taking all they could get, while
The small fry was also buying freely with lit
Ne for sale. The clique has so far
been doing nothing; it has not
hided the advance, except that II
has not sold TO any extent 1t is generally
admitted however. that II holds the winning
HardS, aud has only 10 refuse 10 sell 10 put
prices much higher The point was out sat
urday that May would go 10 s5c today, ana 1t
has been dangerously near that figure al
Ready having sold from SlS4c 10 Sac. Ii mas
great possibilities. apparently. ana many
would be surprised II IL should MOI so 10 SI
before the close OF the week.
In July there was less business ana very
sittle excitement. with prices ruling weaker
than Saturday This was due to the fact that
general rains were reported throughout Kan
saS, Missouri, Nebraska and Southern Hi
uois As the bull feeling had been built up
On the dry weather in these districts. the re-
ported rains relieved The situation. Bat ad-
vices on this score were very contradictory,
the weather map did not show them and
many doubted their existence. Gables
10Th
was q bad one. and the visible supply de-
creased o, 00G bu But the amount on ocean
passage showed an increase OF 10000 bu.
I'he expected Issue of the government crop
report was a restraining influence. The
scalpers and small traders were generally de-
sirOus of Strengthening up their trades III
view of the more than uSua! uncertainty re
Eulung from the fact that this was the nrst
government report since Mr. Dodge de-
h9pitatiOn Nav opened 5c higher, and
with only slight fluctuations advanced
P624c more. held fairly steady. and the clos
Ing was 134G2c higher than Saturday. Some
private settlements IL was claimed, were
made at better prices than quotations shown
on the open market. The July future opened
l2d 5sc lower. became stronger ana ad-
NanCed l2M5sc, bus again weakened oil
5sQ1c, ruled easy and closed 7S9lc lower
ihan Saturday.
good deal of evening up was INDUCED in
l)y corn traders. longs selling ana shorts
credited with purchases of May to the extent
of 100000 bushels and large receiving and
elevator concern was supposed TO have dis
posed of like amount Initial trades were
a trifie under The sing quotations Of Sat
alrday. but il was -, long under quite a
brisk demand before an advance Of lac took
place. Market afterwards ruled easy with
Wheat closing with a slight loss.
There was o liberal trade in oats and
q weaker feeling, prices declining SS0l2c,, nd
closing easy at about the inside figures, with
8 net loss of ssHl2c. There was good selling
Of May by shipping houses. Their offerings,
combined with the weakness i'll corn, had
depressing effect.
The scalpeTs had merry time in prOyis-
ions early, but came near their own destruc-
ton later. They started in on the easier
opening 10 hul the market. Prices were
advanced 1oai;c from first figures all
nround Then the pit got dull. When the
scalpers tried TO ee!l out no one wanted the
stnff. The maract quickly broke below the
point where buying began. On the break
the country became sellers on the stop-or-
derS Then there was a race to get out OF
the stuff. Pork lard and ribs all went down
together the last hour. The break from top
figures was see III pork, sc in lard and 25c in
short ribs, a very unexpected ending of the
little bull market OF the first hour. With the
exception of a very little rally in July ribs
products closed al the bottom prices for the
season.
The estimated receipts for tomorrow were
not made up tCCay. The parties compiling
them, it is said, have not received sufficient
remuneration from the trade, who refuse TO
share III The COS. OF collecting the figures
The leading III ures ranged as follows: