St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-10-06
The PITS Went WILD
Tempestuous Time Of 1t In
the Grain and Provision 81.
Markets,
4!
FLUCTUATIONS WERE SHARP.
The Day Closing With De-
clines in Wheat and
. Corn.
THE CARS CONDITION,
Big Gotham Failure and Light
Recaipts Responsible for
the Break.
FLUCTUATIONS WERE SHARP.
THE CARS CONDITION,

CHICAGO, Qct. 5:-The grain markets
had tempestuoVs time today. The re-
ported death q the car. a heavy New
York failure, light receipts and light
clearances mixed themselves and The
traders up badly. and fluctuations were
sharp and numerous. AT the finish
December wheat was &c lower, May
corn unchanged and May oats &c lower.
Provisions declined moderately.
The small local receipts of grain and
firmer markets abroad gave the wheat
market strong start. Ii had scarcely
got under way, however, when Pard-
ridge and Laeming and other commits.
sion houses whose principal clients are
short selling opened their flood gates
and swamped the early buyers. De-
cember. which started at from 5i1e
to 5414c bid, and with sale or two
at 54s6c, was knocked down to $3.50 in
the course of fifteen minutes. The
short sellers had but short few min
utes of triumph at that time. The peo-
pie who handle the cash grain reported
buyers of their goods at an early hour
of the session. The reports from the
Northwest were confirmatory of what
was telegraphed from there Yesterday
regarding the failing off in farmers de-
lveries at interior stations, but the de-
creased movement was generally as.
cribed to the rainy weather and conse-
quent bad state of the roads. A report
that the car of Ru ssia was dead was a
matter which tangled up Legitimate in
ff,r cI, t,a,r
was killed and the car restored to his
recovered very quickly from its
first decline, and soon after sold
up to 541sc for December. May kept
step in the advances and declines at a
distance of from "a to 1-16c more or less
than that. The strength of corn at this
time helped wheat. The failure Of a
New York stock house was the signal
for general selling again by the local
scalpers. under which the price dropped
again to $3.50 for December. A few
buying orders at the decline quickly
changed the feeling of the crowd once
more. The price on the last named ad-
vance reached 543sc. Primary market
receipts were light at 74S,62l bu. which
To offset that the Atlantic port clear
ances were only equal in wheat and
flour to 100000 bu, including 10000 bu
at New Orleans. Closing cables were
firm and higher from Liverpool and Ber-
lin, but rather easier from Paris. The
last turn of the whirllglg market was
downward. The bears took more com
fort out of the Wall street failure
than the bulls could. find in all the
favorable features of the days news.
The market declined to $3.50 under the
bears management. and closed at 500
$3.50. Corn was strong the greater part
of The session. The selling pressure by
heavy spectators has given place to
of the cash situation, which includes
the smallness of elevator stocks and
very light receipts, was the main ele-
ment of strength. October corn, which
has ruled lower than the May future
recently, got good premium today, land
spot corn brought &c premium over
sellers the month. A sa of 100000 bu
of No. 2 corn for shipment to Peoria
was reported early in the session
but liberal offerings of new No. for
November and December delivery re
ceived from points In Illinois found no
buyers at from 4@414c per bu discount
under May prices. The local receipts
were only 60 cars, and ITO, estimated for
season of the year.
The market, after being strong nearly
all day, closed weak, affected ny the de.
cline in wheat. October opened at
501ac bid, advanced to 521sc. and closed
/ at Sic, or &c Improvement for the day.
| May started with buyers at 11sc. and
from that up to 5115c, compared with
| 505sc at the close yesterday. 1t rose to
51Ac. slumped to 5G5s@5O&c, and
closed at 505sc bid.
Oats met with fairly good sale, and
| after opening shade easier. gradually
tirmed up, too. The movements Of
prices In corn continued to in.
fluence oats fluctuations princi-
| pally, although there were surong
bullish features in this market. The
disposition to buy was very
good. with local scalpers about the only
parties selling, andcOnsiderable strength
was derived from that. May started
steady at SAGE, touched 3414c, sold dowr
to $500, up to 34ss5@3411ac, and shortly
before the close sold at 341ac, closing a
Sac.
The market for hog products rulee
weak. The prices, compared will
those at the close yesterday, are 15t
lower for pork, SC lower for lard
again the sellers. Liverpool marke
lower for lard. Hog receipts were II. 00t
today,a and $1,000 are estimated for tomor
row.
Freights steady at 1s6c for wheat, X,
for corn and barley, and 111sc for oats u
Buffalo.
The leading futures ranged as follows