St. Paul daily globe., 1894-03-19
EVERYTHING GOES DOWN.
WHEAT, c0RN, OATS AED PR0ViS IONS
ARE WEAKER.
STOCKS MODERATELY ACTIVE.

STOCKS MODERATELY ACTIVE.
seigniorage Bill Talk Has a De-
pressing Effect on the Market
st. Paul in Fair Demand
Pressure to Sell Was Not at All
Pronounced-Maj of the
List Shows a Decline.
CHICAGO, Weevils in cargo
of wheat loaded in the river was the
war cry of the bears today. Chinch
bugs in the winter wheat fields. replied
the bulls. The Weevils were felt more
than the bug bites OH the growing
wheat, and consequently prices dropped.
Compared with yesterdays closing
price May wheat is 3sc lower. Corn.
oats and provisions were even weaker
than wheat. Corn declined re, oats
5sc, and pork zoe per bbl. The heavy
cash business in wheat reported from
New York yesterday was fully con-
frmed this morning. Commission houses
with New York connections said that
the amount taken there by millers yes
terday was not short of 1,250,000 bu,
and there was further inquiry here this
morning from the same source. AS
result, the market started firm at
&c over yesterdays closing price
Tor May and July: but the longs ap-
parentlY received that as fortunate
opportunity to realize little profit.
and theirs WAS the selling which caused
subsequent decline. A report was
circulated that cargo OF wheat Ill q
vessel here. had developed weevils. and
was being unlOaded in consequence.
1t turned out that the cargo in question
had received some damage from the
weather through imperfectly battened
hatcheS, and about 600 Du becoming
heated had developed weevlls and was
taken out to prevent the evil spreading.
1t had the effect, however. of turn
ing general sentiment from strength
10 weakness, aid caused - along
with the previous realizing by the
Dulls-a decline in May wheat from
5S@5S11sc early to $3.50, about midway
of The short session. The receipts here
were 80 cars, against 263 year ago.
Minneapolis and Duluth reported 337
cars. compared with 2S5 last year. At
lantic export clearanceS yesterday were
light, but for the week from both coasts
Bradstreets reported eiearances of
wheat and flour at 3.25S, 600 bushels
against 2,S5l COO bushels the week be-
fore, and asst, COO bushels the corre-
spending week Of last year. The weevils
discovered in the cargo of wheat were
made TIE most of by the bears. The
market ruled quiet to the end. and
closed at the lowest Of the days range,
$3.50 for May.
Liquidation Uf long corn was the
feature of the trading in that article.
Schwartz and others, who had at one
time felt that corn was low enough,
have evidently changed their minds i'll
view of the liberal receipts on top of
heavy visible supply and the prospect
Tor an early planting for next crop. The
receipts were $50 cars today, and esti-
mates for Monday are 474. Business
was dull for half an hour, but at the end
of that time Bartlett. Frazier and one
or two others increased their offerings
and pressed them with redoubled vigor
at the same time. May opened at 373sc,
or tbs same price at which it closed
yesterday. 1t was easy at that, however,
and soon began to yield. About half all
hour from the close it was down 10
5626c. There was recovery TO 36I5c,
ana that was the closing quotation.
A moderately active business was
transacted in oats at considerably low
er prices. a weaker cash market, the
fine weather, which has Increased the
receipts. and the decline i'll the price of
corn, were the causes of the weakness
in this market. Bartlett-FraZier were
reported TO have sold Il good many oats,
ana helped 10 break the market. May
started Is under yesterday 5 last quota
ton al 3O2sc, and sold right down to
29Isc. Ii rallied slightly just previous
TO the close, and sold at 3O1sc, where it
rested.
Provisions were heavy, with the
packers tile free sellers Of the day.
1hey are bearish on The expectation of
plenty of hogs through the summer. for
there were only 9.G00 received at the
yalds today. The total for tie week
was l50, S53. against S2,2l5 on the CORE
spending week of last year. The ship
menls this week were o., ,99S, compared
with $500 a year ago. Opening prices
were about the same as closing values of
the day before. Prices declined all day
with few reactions, and the close was
near the bottom. Compared with last
night, May pork is zoe lower. May lard,
l715c lower, and May ribs, 1Uc over.
Estimated receipts for Monday:
Wheat, "a cars; corn, 474 cars; oats, 335
cars; hogs. 2S.C00.
The leading futures ranged as follows: