St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-09-08
BRUINS CAUGHT ON.
Imports of Barley From Rus
STA Had Bearish Effect
on Markets.
WHEAT MADE A BIG BREAK,
And Corn Tumbled 2 Cents
Per Bushel--Oats Also
Weak.
WHEAT MADE A BIG BREAK,
TRUST STOCKS WERE ACTIVE
Some Trading in the Gran
gerS--Entire Market Was
49, Weak.

CHICAGO. Sept. THE public cable
grams do not often furnish Il sensation.
but today's London dispatch to the
board of trade proved an exception.
Two cargoes of Russian barley were
reported sold for shipment to New York
at price equivalent to about Acc per AZ
lbs, duty paid eX-vessel at the latter
port. That Russian invasion at New
York was of much advantage to the
bears in the grain market. Corn
dropped &c per bushel for September
and October delivery. and wheat broke
from 5S11sc for December down to 67@
671sc, closing sc lower than yester-
day. September oats finished &c.
lower and provisions closed practically
unchanged.
Wheat averaged strong during the
forenoon, and it opened with an addi-
ton to yesterdays closing price for
December of from &c to &c per bu, but
had some little difficulty in maintaining
the advance owing to the occasional
lapses of the corn market. Business
was heavier than Oh the day before,
but 1t was still far from reaching its
usual autumnal gait. The receipts
here and i'm the Northwest gave some
indications of falling off, 2l4 carloads
being all that was reported here, 34S at
Minneapolis and 1856 at Duluth. The
aggregate receipts of 993, 600 bu at the
primary Western markets was. how
ever, still too close to the 1000, OOO-bu
mark to permit of much comfort to the
bulls from any falling of In farmers de-
oil
ness abroad, and for the most part as.
cribed the strength to yesterdays ad-
vance here. The Atlantic port export
clearances were smaller than for any
previous day of the week, amounting in
wheat and flour to 240, 600 bu. A matter
which caused considerable dlSquietude
to the bulls in both wheat and corn was
the reported sale of two cargoes of Rus Z
sian barley at Odessa for shipment to
New York. Whether that barley is
being imported for feeding purposes or
for mailing, as claimed by some, 1t will
in any case set free an equal quantity
of American grain for one or other of
those purposes. and thus its effect be
came all the more bearish the longer it
was considered, and finally it broke
both corn and wheat.
The opening price of December was
at from 5Sc to 5SSc, and after that the
tendency was generally downward. 1t
did not suffer much until about two
hours of the session had passed, but it
broke badly after that. losing all but
about sc of yesterdays advance, the
closing quotation being 57@571sc. The
corn market opened with a continue
ton of the buying fever which
struck the crowd yesterday afternoon,
but In the course of the session the
around and prices had a severe break
September corn sold early at $500 May
opened at from 5614c to 561s. Later,
after the sensation of the day had
worked itself we'll into the understand
ing Of the crowd here and outside, the
market broke badly. September dropped
to $500, October TO $500 and May to
5514c, and there was but little subse-
quent recovery.
The sensation was the sale of Russian
barley at Odessa, which also affected
wheat 1t brought a new element into
the stock-feeding problem. which gave
the bears an opportunity they were
not slow to avail themselves of when
its significance became fully under
stood.
Some of tine country holders realized
profits on the opening bulge, and the
local bull contingent sold heavily. Clos
ing prices were near the bottom of the
days range, closing quotations being:
September, $3.50; October, 5614c, and
May 55114@55a5c.
For the first time in a long while the
oats market showed some independence.
At the start prices were steady to a
shade firmer, but instead of going still
higher with the fluctuations In corn
they gradually declined. Later, when
corn fell off. the easier feeling was still
more noticeable. There were but few
buying orders, and outside points es-
ptcialy were prominent in selling, con-
seQuently the decline. September
opened a: 3O1Sc, sold at So4c, and weak
ened to Soc. 1t closed at 291sc.
The provision market was quiet but
firm, and did not take fright like the
grain markets at the Russian invasion.
Hog receipts were light at 1900 head,
and only 10000 are looked for tomorrow.
Prices for the products were rather in
clined to advance, but in the end closed
without change, except as regarding
January pork, which is . cents lower.
Vessel room is in good demand at IL
cents for wheat, and 14@l3s cents for
corn, to Buffalo.
The leading futures ranged as follows:
Open-l High Low, CLOS