St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-03-18
EVERYTHING GOES DOWN.
WHEAT, c0RN, OATS AND PR0YIS lows
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-Majo of the
List Shows a Decline.
CHICAGO, March17-Weevilsi 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 on the growing
wheat, and consequently prices dropped.
price May wheat is 3sc lower. Corn.
oats and provisions were even weaker
than wheat. Corn declined &c, oats
&c, and pork 20c per Dbl. The heavy
cash business in wheat reported from
New York yesterday was fully con-
tirmed this morning. Commission houses
with New York connections said that
'
terday was not short of 1,250, 900 Ou,
and there was further inquiry here this
morning from the sane source. AS
a result, the market started firm at
&c over yesterdays closing price
Tor May and July; but the longs APP
parently received that as a fortunate
opportunity to realize little profit,
and theirs was the selling which caused
subsequent decline. A report was
circulated that a cargo of wheat in
vessel here. had developed weevilS. and
was being unloaded i'll consequence.
1t turned out that the cargo in question
had received some damage from the
weather through imperfecuy battened
hatcheS, and about 900 Du becoming
heated had developed weevilS and was
taken out to prevent the evil spreading.
1t HAD the effect, however. of turn
ing general sentiment from strength
10 weakness, and caused - along
with the previous realizing by the
bulls-a decline in May wheat from
5S@5o5sc early to $3.50, about midway
of HE short session. / he receipts here
were 80 cars, against 263 a Year ago.
Minneapolis and Duluth reported 337
cars, compared with 2S5 last year. At
!antic export clearanceS yesterday were
light, but for the week from both coasts
Bradstreels reported eiearances of
wheat and flour at 3.25S,OO0 bushels
against 2.S5I. 900 bushels the week be-
fore, and 2.SS6,O00 bushels the CORE
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,
5S15c for May.
I,,uuidation inf long pOrn WAS the
feature of the trading i'll that article.
Schwartz and others, who had III one
time felt that corn was low enough,
have evidently changed their minds III
view of the liberal receipts on top of a
heavy visible supply and the prospect
tOi an early planting for next crop. The
receipts were $50 cars today, and eStl-
mates for Monday are 474. Business
WAS dull for half an hour, but at the end
of that tine Bartlett. Frazier and one
or two others increased their offerings
al pressed them with redou5led Vlgor
1T Inc same time. May opened at 313 &c,
or tins Salme price at which it closed
yesterday. 1t was easy at that, however,
and soon began to yield. About half an
hour from the close it was down to
$3.50. There was recovery TO 36Tc,
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 in the price of
corn, were the causes of the weakness
i'll this market. Bartlett-FraZier were
reported to have sold good many oats,
ana Helped 10 break the market. May
started IS under yesterday'S last quota
ton al 3C39c, and sold right down to
$3.50. Ii rallied slightly just previous
TO Tie close, and sold at 3O1sc, where it
rested.
Provisions were heavy, with the
packers the tree sellers of the day.
They are beariSh on the expectation of
plenty of hogs through the summer. for
there were only 5000 received at the
yalds today. The total for the week
was 15O, S53, against 3d. l5 Oh the CORE
spending week of last year. The ship
menIs this week were 1888, compared
with IS. $50 a year ago. Opening prices
were about the same as closing values OF
the day before. Prices declined al! day
with few reactions, and the close was
near the bottom. Compared with last
night, May pork is 20c lower, May lard,
1112c lower, and May ribs, l0c over.
Estimated receipts for Monday:
Wheat, 81 cars; corn, 474 cars; oats, 335
cars; hogs. $4,000.
The leading futures ranged as follows: