St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-09-20
INCREASE IN THE VISIBLE
Was a Weakening Factor.
Provisions Followed the
Lead Of Grain.
STOCKS SHOWED FlRMNESS.
Speculation Showed q De.
cidad Revival in All But a
Few Instances.

-
pared with yesterdays closing prices
wheat is lc lower, corn DC,
oats &c and pork Csc lower.
Bradstreet's increase of the visible sup
ply was weakening factor in wheat
and free selling did the rest. the other
markets following wheat.
The first transactions Of the day in
wheat were at substantially the same
prices as ruled at the close of yester-
days session. The receipts at Chicago
and in Minneapolis and Duluth were
only moderate, but the total at the
primary Western markets was again
slightly over l,000,000 bushels. Foreign
markets were generally quoted steady,
the teXceptiou being at Paris. Tele-
grains from Duluth received this MORN
ing reported 100000 bushels as the
amount sold yesterday. 100000 bushels
of which was to New York millers and
100, 900 bushels to the Baltimore trade.
Negotiations for further lots were said
to be in progress at Duluth today. and
Minneapolis early in the day reported a
good demand for cash wheat at 564c.
Up to IL o'clock the business done
was small. The local crowd was rather
inclined to sell, and the orders from
outside were chiefly to sell December
and buy May at sc difference. The
tendency was slightly downward, but
until Bradstreefs visible supply state
ment came to hand aid any marked de-
sire to sell become general. The latter
report showed 1882, 600 bu as the net
increase in the world last week. A
Du in Europe and afloat, there was an
increase of 100000 bu. There was a
rush to sell, however, when today's fig.
ures were made known. and December,
which had sold sparingly at the open.
ing at 561ac, declined for moment to
551sc. The bears used the lever given
to them by weak corn market and the
increase in BraGstretts visible to I'm.
press their views upon the unwilll z
bulls, and, in an excited struggle to find
buyers III the las. ten minutes OF the
session, the price tumbled rapidly to
ssh 9553sc, and closed at 5533s (0551ac.
Corn opened firm on the confirmation
of yesterdays small! estimated receipts
for today. The local crowd was gem
orally beariSh on the unsatisfactory con-
dlton of the shipping demand. The
elevator people were looking for buy
ers OF round lots, but failed to find any,
and offers of No. 3 for December de-
livery were much freer today than on
any previous day this season. The
opening price for May was from 545Sc
to sac, but it took only short tune TO
get it down to sac, ana about II O'clock
1t had further accession of weakness,
and dropped to 5396c. The pressure Of
September corn upon the market con-
tinued to be the weakening feature of
the situation, and the closing heaviness
as the market was coming to close.
A further break to SIC was experienced
about ten minutes from the close. The
local bears pounded the market vigor-
Ously when they found 1t yielding, and
the local bulls ran and they threw away
their load as they fled. May declined
to 53c, Or 1880 lower than it had sold at
the opening, and 53(05311sc was the clos.
ing quotation.
The business in oats was of a rather
Hunted character, although the market
was fairly active at intervals. At the
start there was some apparent strength,
Influenced by light arrivals and good
disposition to buy. For the last few
days at Chicago the receipts of oats
aggregated 100000 blu. For the same
period last year 12,790,000 blu came to
hand. This influenced frmer feeling
In the cash market, which, at the OPEN
ing. extended into the speculate We
crowd. But corn declined, or rather
continued to decline, aud dragged oats
with it. May started at 36c. and gradu-
ally eaSed off to 3556c, where it closed.
Provisions suffered in similar man.
ner to the grain market, but rather
showed the way than followed in the
weakness. Business was fairly good.
January deliveries, which almost alb
sorbed entire speculative transactions,
ruled heavy, and toward the close the
feeling was slightly panicky. The
Anglo American packing company
started the swing at the opening and
continued to press sales during the fore
noon. In the afternoon buyers could
not he found except by the seller YIELD
ing about five cents from the rate OF the
previous transaction In the article
wished to be disposed of. January pork,
which closed yesterday at S14.U71S, sold
today as low as Sl377L and closed at
Sl3 S2H. Lard dropped from $S.171d to
-. and the latter was the latest trading
price. Ribs from Sis declined to
S7.021a and closed at $7.U5. Freights
Wheat 2s4c TO Kingston, corn II to
Buffalo aud Port Huron, and oats to
the latter port l &c.
The leading futures ranged as follows: