St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-09-03
A PRE-HOLIDAY WEAKNESS.
Dealers Endeavoring to Dis
count the Effects Of Mon
days Close.
IS RAIDED
SUGAR,
MaX
Forcing the Price Down 1 $3.50
---Other Stocks Dull e.
and Weak.

CHICAGO. Sept. 1.-Board of trade
business was rather light today and the
bears had the advantage in the cOntem-
plation of big array OF figures as likely
to represent the receipts of Tuesday
morning. Another expected addition
to the visible of wheat of about 1000 900
bushels was also against the bulls. AS
consequence wheat is Nc lower than
1t closed yesterday. Corn, after lively
rise in the beginning, tumbled until nc
lower for September and &c for May.
September oats closed &c lower. and
provisions finished at advances.
A general desire to anticipate the
effect on Tuesday morning of the ac-
cumulatiOns of the receipts during the
Sunday and Monday holidays caused
wheat to rule weak. 1t was steady for
about an hour, but broke down when a
sudden collapse in the price of Sc ptem-
Der wheat TeawOke the wheat traders to
what had previously been in their mind
about the expected big receipts on
Tuesday. The receipts today were
rather smaller than estimated for
Chicago, and at Minneapolis and Duluth
the reported receipts did not show any
likelihood of the volume of farm
er's deliveries In the Northwest in.
creasing. The foreign markets were
steady. and the deliveries OF wheat on
September contracts were all taken
care of by the elevator proprietors.
About 100000 bushels was the
quantity which was supposed to he tell
dered in the morning by a few houses.
and going the rounds it found its way
all back to the buyers who have sold for
December. Trade was light. and The
price was thus easily affected by mod
crate amount of short selling. The
bulls are Juggling probably 10000, 900
bu OF long wheat in this market, and
they need help when their burden is in.
creased by the impact Of the short SELL
ers jumping on their shoulders. De-
cember opened at 567sc, or sc below its
closing value OH Friday. 1t advanced to
57akc, sold off to 561s, and closed at
$500. aIn
There were practically no deliveries,
OF corn on September contracts today
and conseq uently the shorts for the;
month were alarmed. The holders Of
the cash corn did nothing to allay their
fears, but, on the contrary, j.. G.
SchwartZ's recognized brokers weres
bidding for the limited offerings during
the first hour OF the session, Septem-,
Der opened at 81 as against 96A at the.
CLOSE yesterday. 1t rose excitedly to
5Ss4. and after reaching 70 So, close to
which it held for short time, it had a
sensational tumble to 561S and
later to SIC. at which latter point it was
when the market closed. The weak
ness came from expected heavy Monday
receipts. May opened firm at about
yesterdays closing price and advanced
under the influence of the strength in
September until the former touched SIC.
1t declined from SAC to 525sc, and closed
at 53c or sc lower than on the previous
afternoon. Receipts estimated for Mon
day at $50 cars was weakening factor.
The oats market opened with a firmer
tone and orders were quite plentiful,
but this strength lasted but very short
time. for when the corn market weak
ened oats followed and at the end of the
session prices were considerably lower.
The decline was helped by liberal
offerings and rather tame demand.
At the opening September sold from
80 to 3O1Sc. Then the decline COM
menced and 2914c was the lowest
price reached. That price was bid at
the close.
Provisions were strong. There was
uery little disposition TO sell short. The
deliveries on September contracts were
insignificant. Hog receipts for the dav
were 10000, and the price quoted from
the yards showed about l0c advance
aiding in the advance. Pork sold at $l4
for both September and January and
closed worth 1885 for deliveries, being
an improvement of from 1919 in Sep
TENDER to ~ In January. Lard closed
with 10c gain in September and SC in
January. Ribs unchanged.
Freight rates steady at 1880 for wheat,
nc for corn and 11s c for oats to Buffa.
10; pc for corn and 1c Tor oats to Port
huron.
The receipts for Monday are estimated
as follows: Wheat, 800 cars; corn, $50
nnr Gass; ib SsI ns1 OK NOES nne
expected.
The leading futures ranged as foIloxvs.