St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-02-14

CHICAGO, Feb. 13.-May wheat went
down to 5S1sc today. Opening lie lower
at 593e, the price went down to the new
low price record on a continuation of
yesterdays weakness. Buying by
fhOris on a decrease in the visible caused
Nreaction of le, but runners of local tinan-
eial troubles sent the price down
Rgain.and May closed with loss of sc.
May corn closed sc lower, May oats 3
lower and provisions. with pork and lard,
lower. and ribs unchanged.
The weakness which prevailed
throughout the markets of the country
yesterday was present i'll large chunks
at tile opening OF the board today, and
when May wheat started 1c lower at
595sc, traders were nervous and began
to let go of their holdings, their fears
being augmented by the discouraging
tone of the cables. In few minutes
May had slid down Re more, ana not Il
few traders were agape as they saw the
new record made-at 5S5sc. The trading
at that figure was light, however. The
deluge of long wheat for sale that was
looked for, failed 10 materialize. The
visible supply in England was estimated
to have decreased !, 947. goo bushels last
week and the decrease here was $50, 600
Gu. This, in the tace of the expectation of
an increase, gave buyers Il little encour
agement, and with the temptlnglY low
price shorts did some covering. st.
Louis sent a good many buying orders,
and reported $50. 600 bu taken there for
export. New York reported that for
eigners were buying there, and May
climbed slowly until it recovered an ad-
vance OF 1c. Near 595se, the price held
steady for some time, but runners of
some house here being III trouble, al
though unconfirned, sent prices down
&c. A little buying at The finish
caused a reaction, and May closed but
5se from the top at 59A. May opened
at $3.50, lost re, advanced 1c, declined
&c and reacted Il to close at 5915.
In corn only moderate business YVES
transacted, the market ruling quiet
most of the day, with fluctuations con-
Lned within &c limits. Price changes
were governed 10 great extent by the
action in the surrounding pits. The
feeling early was weak. but later more
strength was displayed. The opening
was 14@115c lower than Saturdays close,
OWING To the action OF wheat and the
easier feeling that was displayed yes
terday i'll outside markets. A good de-
mand sprung up at the decline, due to
the expectation of lighter receipts, and
the price rallied 35c, held steady, and
closed with May at the days top figures.
There was & fair trade in oats and Il
weak feeling early, prices declining
sc from Saturdays close in sympathy
with wheat and corn. The price rallied
sc oil good bidding around the inside
figures, and May closed but K under
the days top figures.
Provisions opened strong and higher.
in response to the very light run Of live
hogs at the yards, and higher prices tor
TOMORROW. After easing off To q limited
extent, the market advanced on the SUD-
port accorded to ii by prominent pack
Ing Institution, especially in lard and
ribs. The offerings were light, and
there was not much trading.
Later on feeling of weakness
was developed, with a limited
decline III values, particularly
il lard and ribs, on increased offerings
OF the former, pork not being partlcu-
larly affected. The weakness culnIinat-
ed iii pronounced break shortly before
tile end Of the session, pork and lard
being offered down 10y a leading COM
mission firm, with nothing TO hold the
market up. There was slight reaction
just before the final tap Of the bell, but
the close was weak, near the inside fig
ures Of the day. Compared with Satur-
day night, May pork is 20c lower, May
lard 1Oc lower. and May ribs un-
changed.
Estimated receipts for tomorrow:
Wheat, 1GO cars; corn, $50 cars: oats,
$50 cars; hogs, 90 COO head.
The leading futures ranged Us follows: