St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-10-10
THE MARKET OVERLOADED,
Increase in the Visible and
Uncertainty on the Gov
eminent Report.
STOCK MARKETS HEAVY
Closing Figures Showing
Losses Ranging From IA
to 1 3-S Per Cent.

NHlCAGO, Oct. y. l. ue MARKETS were
all moderately inclined to the bear side
today. Wheat, corn, oats and provis-
ions suffered from tired feeling and
were sympathiZing alternately with
what was said to be forecast of tOmor-
rows government crop report. and
rumors concerning the condition of the
car of Russia. The crop report, accord
ing to the alleged forecast, is to be
bearish. The czar's death, which was
apprehended. was considered bullish.
Wheat lost sc only. but corn suffered
to the extent of sc for October and &c
per bu for May. May oats closed &c
lower, and provisions at slight de-
elines.
The disbursement of yesterdays
increase of 100000 bu in the visible
was still working on the crowd this
morning. For over half an hour the
market was very weak. 1t was about
steady for ten minutes or so at yester-
days decline, but after that, and for
about thirty minutes. it became very
weak. December, which closed yester-
day at 55ss4c, opened at that this morn.
ing, and touched $3.50 for an instant.
1t worked gradually down to $3.50, and
then fell rapidly to $50, which latter
price it reached about 1910 a. m. May
was traded III at spread of SIC.
The Northwestern receipts were
again heavy,9 $50 carloads being reported
at Minneapolis and Duluth. Here the
inspection showed lis carloads. The
foreign wheat markets were quoted
ooia OF "a ha po1t oh
sea. Argentine AID other competing ex-
porting countries. exclusive of India,
shipped 2,SS0.000 bu of wheat and flour
last week. Including 3,245.OOO bu from
the United States and Canada, 6.149. 600
bu were put at1Oat last week. The lib
eral Northwestern receipts ana the
weak tone of the cables were the mat.
tiers which, along with the still growing
visibleS, caused the easiness at the
opening. The other statistical matters
referred to were not of any in
fiuence. Later it was report
ed that the government statement
tomorrow would state the yields of
wheat per acre at such rate as would
increase the official indication of the
total crop to 460.0U0,0 600 bushels, or about
100000 bushels more than it had
previously suggested. That rumor was
said to he the reason for the increased
pressure which broke December to
53114c the first time it got there. 1t re-
covered to 535s @531ac, declined again to
5314c, with sale Of small lot at $3.50
534c, and had reacted to 5314c, which
was bid when Bradstreet's visible sup.
ply statements struck the market and
knocked small chip off. 1t sold off to
5314@533sc at the time referred to.
Bradstreets gives an increase of 81
$4,000 bushels east of the Rockies,
7Sl.000 bushels increase on the Pacific
coast, and an Increase of 2S2, 900 bushels
af1oat for and in Europe.
RumOrs concerning the condition of
the car of Russia were numerous dur
ing the session, and near the close it was
spread about that he was dead. There
was disiuclination among the crowd
to remain short over night. and some
covering near the close resulted in adj
vancing the price of December to 535Sc,
at which it closed, May resting at $3.50
bid.
Corn acted in sympathy with wheat.
The receipts were considerably heavier
than had been estimated, but were far
from being heavy. The estimates yes
terday were 95 cars and 1913 cars were
inspected. Estimated receipts for to-
morrow are 100 cars. The government
ditiOn so much the better than on the
month previous that 1t would indicate
100. 900. 600 bu more than it did then in
the total yield.
A little business was done in No 2, to
arrive in December, at SIC under the
May price and in No. yellow at SC
under. Business was moderately &C
tive, with generally downward ten
dency up to the middle of the day and a
slightly reactionary tendency after that.
May opened at from 50A @505sc against
507s@51c at the close yesterday. 1t
fuctuated around 501a@5O5sc and then
dropped to soc when wheat was at the
weak point. Toward the end it was
back to 50ssc. The price hardened in
the last few minutes and closed at 501ac
for May and sic for October.
Oats were active throughout the
entire session, and, influenced by the
easiness in corn, also were quite
weak. Considerable long stuff was
offered for sale, and that, with lower
cash market, created a good share of
the heaviness. Quite a big business
was transacted. Orders were fairly
good all day and sellers were numer-
Gus. The stocks OF contract oats in
store showed all increase of $4,000
bu since last week, and may have had
something to do in the bears favor.
May started at 1890 and sold down to
33c. closing at S31lc. The receipts of
hogs were $4,000, but the provision
market did not receive any benefit
from the smallness. The weak.
ness in the grain market caused a SYM
pathetic feeling in the hog products.
There were some half-smothered indi-
cations of desire TO unload some long
stuff had the market been broader, but,
as 1t looked unable to absorb much
without breaking badly, the offerings
were tempered to the capacity of the
market. Hog receipts for tomorrow are
estimated at $4,000. The January deliv-
cries at the close showed the following
losses since yesterday: Pork, Tac;
lard, SC, and ribs, 21ac.
Freight rates held sted y at 1870 for
wheat, NC for corn antslTc for oats to
Buffalo, and SIC for GA to New York
The leading futures ranged as follows:
;rrI M.