St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-03-10
WHEAT MARKET WAS WEAK
cCRR, OATS AND PROVISIONS FOL-
LOWED AND CLOSED LOWER.
WALL STREET MANIPULATIoNs

WALL STREET MANIPULATIONS
No Shipments of Gold to Europe
Helped the Stock Market
London old St. Paul, but the
Buying Was Good-Sugar Made
dig acknowledgements Finan-
cial Gossip.
CHICAGO, March 9.-.The principal
speculative markets were all weak to-
day. Wheat took the lead, but corn,
oats and provisions each in their turn
challenged the leader, and they all, with
he exception of wheat, came in punched
together at about the bottom of the days
course. Wheat closed at a recovery of
sc from the lowest point it touched to-
day, but &c lower that it closed yester-
day. Corn and oats were each &c low
er. and pork zoe lower. Fear that the
government estimate of wheat in farm
ers' hands would exceed 100000. 600 blu
was the principal reason assigned for
the weakness in the article.
The wheat market acted weak during
the greater part of the first hour. The
weather was fine, and with plenty of
moisture in the ground, nothing more
could be desired tor a splendid start for
the winter wheat and the prospective
seeding of the spring crops. That was
the only element of weakness in the in
f1uences which usually come to bear
upon the market at the opening. When
the figures representing yesterdays
Atlantic seabOard clearanceS began to
be received, the earlier weakness was
partially recovered from. When the
total of the exports from the four prin-
cipal Atlantic ports was found to
amount 10 nearly 600,O00 bushels in
wheat and flour, decline of sc, which
had occurred from the highest point
touched at the opening, was recovered.
There were few sales of May at Coo at
the start. then a decline to $500, fol-
loved by recovery to 60c before ii
o'clock.
a sale Of $4,000 bu of No red winter
10y local handler of cash wheat to an
Eastern fir II at &c higher than was pro-
durable three or four days ago. when
May was quoted 1c above the price rul
ing this morning, was likewise factor
in creating more confidence. Closing
c;,bies were weak. Liverpool, Antwerp
and Paris all sending lower quotations.
This resulted in another weak spell in
the market here, during which the price
Tor May declined to 5912c. but Oh SEINE
fresh export business being reported
from New York. the market recovered
some, and closed at 59& 959Yc.
Corn was fairly steady for about five
minutes after the opening but later 1t
participated in the weakness in wheat,
The receipts were only 2JS cars and the
estimates for tomorrow are 200 cars.
The Liverpool market was quoted firm
and I'D higher. and the export clear
ances reported from the seaboard were
261. 600 bushels. But Patten Bros. who
had been conspicuous buyers for two or
three days, we're sellers today, and
some others who had also been buyers
under what appeared to be much less
encouraging circumstances took the
opposite course today. lie opening
price was 3756c. and by noon that had
melted away to size. The market was
at practically the lowest point of the
day as the session was ending. There
were sellers of May at 371sc.
Oats were also lower. Holders were
offering freely and big business vas
done. Patten Bros. and Bartlett
FRASER each sold in the neighborhood
of $50, 600 blu, while Hess bought fully
100000 btu. Merrill and Lyons were
also free buyers. There was besides
that considerable short buying in
smaller lots. The decline i'll values was
principally due to the weakness in
wheat aid corn. May opened shade
off from yesterdays latest quotations at
30I(031c, tOuched 31c and gradually de-
clined to 3013c. 1t was offered at 303Sc
at tho close. July sold from 90 10 28}sc.
1t was liquidation by longs in
ceipts diG not exceed yesterdays mod
crate estimates. and the report from the
yards indicate good demand for them
at previous prices. There was
Il considerable break in prices before
shorts were tempted by their profits to
come i'll as buyers. Many stop-loss
orders on long stuff were reached Oh
the decline, and it was only buying by
shorts which prevented the drop from
being more sensational. Baldwin coy
cred from 1000 to 5000 barrels of pork
OIL the brea k, and The Cudahy Packing
company also covered a round lot.
There was a moderate recovery from
the lowest price named. which the
shorts again took advantage of to put
out their lines again, and closing prices
were near the bottom. Compared with
last night, May pork is zoe lower, May
lard Zoe lower, and May rbs 1890 lower.
Estimated receipts for tomorrow
Wheat. 60 cars: corn, 206 cars; oats, l42
cars; hogs. IL, 0G0 head.
The leading futures ranged as follows:
Hiuh h