St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-02-12
BIG BREAK IN CORN.
Everybody Rushed to Sell
and the Price Went
Off lie.
Wheat and Oats Close Lower
in Sympathy With
Corn.
~. rg...,3 - 0us
Lard the Only Thing Traded
In Which Showed ana
4a Advance. 'ta<
Is
Wall Street Trading Moderate
and Confined to Pro-
fessionals. y

CHICAGO, Feb. IA break OF lie
took place in corn today. Trading. was
active III all the pits. Everything eX-
cept lard moved downward. Compared
with last night. tie declines at the close
were &c for wheat, &c in corn, nc in
oats, 22119c in pork and 1870 in ribs.
Lard is 10c higher for May delivery
than it closed on Friday.
The slide in corn did not begin until
after period OF stagnation. n. b.
Ream appeared upon the top platform
of the pit. and without any preliminary
shouting began to sell corn at the price
the brokers were then bidding for it.
The crowd Immediately desisted bid
ding and turned sellers al
most to man. Capt. Phillips
about the same time put brokers into
the pit to sell, and Il. M. Baxter, along
with crowd of brokers from the wheat
pit, rushed into the melee as sellers.
There was speedy slump in the price,
with so much unanimity among the
spectators. The days receipts were
216 cars. or 40 over the estimates. There
were only SO cars of contract corn in the
week amounted to 1,097, 400 blu and the
shipments 10 553,939 bu, showing only
Oil moderate receipts an accumulation
of 543, 521 bu, and that was considered
one of the weak features Of the present
situation. The mlder weather was
likewise expected to release good deal
of corn which was loaded Oh cars, but
sidetracKed at country stations during
the recent severe weather. The close
was unsettled at &c from bottom fig
ures.
Conflicting crop advices, buying Or
ders from st. Louis and reluctance to
sell short kept the wheat market steady
for time But as the day advanced
the market began to show weakness, in
fuenced largely by the decided break
which started III corn and oats, while
the finer and milder weather and more
assurance that the wheat had been I'M
injured also helped to weaken values.
Holders got encouraged and sold freely,
while there was also growing DISPOSE
ton to short the market. The opening
was about &c lower than yesterdays
closing, ruled easy and prices further
declined &c, held steady and the clos
lower for July than yesterday.
good deal of .short" selling was in
dulged in. This. combined with the de-
preston in corn,made the market weak
and prices receded Ssc. At the decline
there was good general buying. but
prices only rallied slightly.
The government report on swine was
considered bearish at first by thee pro-
vision crowd, but they modified their
views little later. For about half an
hour it looked as if considerable
break would occur. There was lively
rally at the end Of the time named, but
pork and ribs were too freely offered to
hold. Lard was held with a firm grip
after its early break and was bid Dip by
the Spectator, WHO is thought to be-
the most heavily interested in seeing it
decline. A ]. Wright bid for May
lard until it had advanced to $3.50, the
highest figures yet, but the close was at
a reaction of 1211zc.
Estimated feceipts for Monday:
Wheat, 125 cars; corn, 200 cars; oats,
100 cars; hogs, $1,000.
The leading futures ranged as follows: