St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-09-11
OPENING STRONG, END wEAf
Visible Supply Statement the
Cause Of the De-
cline.
UPS AND DOWNS IN STOCKS
List Was Strong at Opening,
but Reaction Caused Par
tial Decline.

CHICAGO, Sept. 10.-The grain mar
kets started out in a very bold and ag-
gressive manner, and made considera-
bic advance before meeting any
effectual resistance. When they ran
against the visible supply state
n-ent they turned around and became
rs bearish as they had been previously
bullish. Compared with Saturdays
close December wheat is &c lower,
May corn, sc lower. and September
oats unchanged. Provisions were inde-
pendently strong, finishing with liberal
gains all around.
Wheat started strong at from &c to
&c over the price at which it closed
Saturday. 1t was a holiday in Liver
pool. Beerbohm's reported Paris firm
at slightly better prices. and Berlin
from a to q mark higher. The amount
OF wheat OH ocean passage increased
$4,000 blu during last week, and the
weeks shipments from India were
400 bu. Receipts of wheat at Chi
cago were only 205 carloads. Minneap-
oils reported receipts of sos cars and
Duluth 240, making 1873 at both places
compared with 1913 a year ago.
The market kept firm until after the
visible supply statement was published.
and even Tor half an hour following that
1t appeared inclined to resist the bear
ish Influence which might be expected
from an increase Of 2.2l9,OOO blu COM
pared with a generally expected increase
of not more than 100000 bu. In the
meantime Npoamhar which hod opouad
at 572sc. and after slight downturn to
5711ac mad advanced to 5Sc. had becsm Q
steady at around 571sc until it was seen
the visible supply would increase be-.
yond expectations. When the result
became known it broke to size, but met
good demand at that, which turned 1t
up again about &c. Rumors became
current at the latter point that the New
Workers had good authority for the pre-
dlction Of a quite bearish government
report OH wheat this afternoon, and on
that there was clattcr in the pit as the
price rolled down to SIC, with sellers at
that for brief space. closing Eat 571sc.
Corn opened strong under a BELIEF
that the government and the elements
were both going to do something tor the
bulls this afternoon. The government
was confidently expected to conirm the
worst beard from other sources regard
ing the extent OF the drought damage.
and the weather bureau reported frost
conditions for large area of the West :
ern corn country tonight with possibly
killing frOsts in the more Northern
fringe of counties. The. days receipts
being light and the estimates for to-
morrow also small were addltenali
causes for the early strength. After
the heavy Increase in the visible supply
of wheat had begun to weaken the mar.
ket, the local bears i'll corn found the
crop report untrue and quickly
knocked the bull feeling out Of
the corn market. There was an
active trade during the first half hour.
1t then became quite dull until after the
visible was received, when it became
active again, while all the early bulllsh-
ness was evaporating. May opened at
561sc, with sale as high as 5615e, but
hardly any business was generally pOs-
siDle over 56hc. IL tiuctuated for a time
between 55Yc and 561c, and about an
hour from the close 1t sold AZ low as
$3.50. 1t recovered again 10 $3.50 aud
closed at $500.
Oats started with. indications of
strength and good business, but soon
after the start the firmness gave way.
Fluctuations continued to rule in sym.
pathy with corn and still show no signs
OF independently. The expectation OF a
very bearish government crop report
added materially to the heaviness pre-
vailing. September opened at 3O1ac,
sold off to 30ssc and closed at SO4c.
There was only one side to the pro-
vision market. 1t was strong from
start to finish. Receipts of hogs here
and elsewhere in the West were quite
light. and the price here was about SC
over Saturdays average as reported
from the yards. Some buying orders at
the start could only be filled by bidding
up prices. the offerings being light.
Chaplin & Edwards were good buyers
of ribs. and Boyd, Durham & Co., and
the Cudahy Packing company had them
for sale OH the advances. January PORK
closed 271ac'hiRher, January lard zoe
higher and Jan uary ribs 1870 higher.
Freights, slow with boats, offered at
NC, for corn to Buffalo.
The leading futures ranged as follows