St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-03-18
EVERYTHING GOES DOWN.
WHEAT, cORN, OATS AND PR0vIS IONS
ARE WEAKER.
STOCKS MODERATELY ACTIVE

STOCKS MODERATELY ACTIVE.
SeiGniorage Bill Talk Has a De-
pressing Effect on the Market
st Paul in Fair Demand
Pressure to Sell Was Not at All
Pronounced-Majo Of the
List Shows a Decline.
CHICAGO, March17-Weevilsi in cargo
of wheat loaded in the river was the
war cry of the bears today. Chinch
bugs in the winter wheat fields. replied
the bulls. The Weevils were felt more
than the bug bites on the growing
wheat. and consequently prices dropped.
Compared with yesterdays closing
price May wheat is sc lower. Corn.
oats and provisions were even weaker
than wheat. Corn declined &c, oats
&c, and pork zoe per Dbl. The heavy
cash business in wheat reported from
New York yesterday was fully con-
firmed this morning. Commission houses
with New York connections said that
'
terday was not short of 1,250,000 bu,
and there was further inquiry here this
morning from the sane source. AS
a result, the market started firm at
&c over yesterdays closing price
Tor May and July; but the longs APP
parently received that as fortunate
opportunity to realize little profit,
and theirs was the selling which caused
subsequent decline. A report was
circulated that a cargo of wheat in
vessel here. had developed weevils. and
was being unlOaded i'll consequence.
1t turned out that the cargo in question
had received some damage from the
weather through imperfectly patterned
matches, and about 900 tu becoming
heated had developed weevils and was
taken out to prevent the evil spreading.
1t had the effect, however. of turn
ing general sentiment from strength
TO weakness, and caused - along
with the previous realizing by the
bulls-a decline in May wheat from
5S@5e5sc early to $500, about midway
of The short session. The receipts here
were SO cars, against 263 a Year ago.
Minneapolis and Duluth reported 337
cars, compared with 2S5 last year. At
!antic export clearances yesterday were
light, but for the week from both coasts
BradStreeiS reported eiearances of
wheat and flour at 3.25S,000 bushels
against 2S5I 200 bushels the week be-
fore, and 2.SS6O00 bushels the CORE
spending week OF last year. The weevilS
discovered in the cargo Of wheat were
made TIE most of by the bears. The
market ruled quiet to the end, and
closed at the lowest of The days range,
5S1sc for May.
I,puidation nf IOpp P0rp WAS the
feature of the trading i'll that article.
Schwartz and others, who had at one
time felt that corn was low enough,
have evidently changed their minds Ill
view of the liberal receipts on top of a
heavy visible supply and the prospect
toi an early planting for next crop. The
receipts were $50 cars today, and estl-
mates for Monday are 474. Business
was dull for half an hour. but at the end
of that time Bartlett. Frazier and one
or two others increased their offerings
al d pressed them with redou5led vlgor
1T Inc same time. May opened at 315e C,
or tins Same price at which 1t closed
yesterday. 1t was easy at that, however,
and soon began to yield. About half an
hour from the close it was down to
5000. There was d recovery TO 36Tc C,
anu that was the closing quotation.
A moderately active business was
transacted in oats at considerably low
er prices. A weaker cash market, the
fine weather, which has Increased the
receipts. and the decline in the price of
corn, were the causes of the weakness
in this market. Bartlett-FraZier were
reported to have sold good many oats,
ana helped TO break the market. May
started Is under yesterdays last quota
ton at 3G59c, and sold right down to
29Ic. /; rallied slightly just previous
10 the close, and sold at 3O1sc, where it
rested.
Provisions were heavy, with the
packers the tree sellers of the day.
They are bearish Oh the expectation of
plcmly of hogs through the summer, for
there were only 5000 received at the
yalds today. The total for the week
was $50, S53. against S2,215 on the CORE
spending week of last year. The ship
menls this week were 1888, compared
with $500 a ear ago. Opening prices
were about the same as closing values of
the day before. Prices declined all day
with few reactions, and the close was
near the bottom. Compared with last
night, May pork is zoe lower. May lard,
1712c lower, and May ribs, 10c over.
Estimated receipts tor Monday:
Wheat, 81 cars; corn, 474 cars; oats, 325
cars; hogs. $4,000.
The leading futures ranged as follows: