St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-02-27
SLIGHT TUMBLE In WHEAT.
THE HATCH ANTI OPTION BILL ScARES
TIE BULLS.
PARDRIDGE A HEAVY SELLER.

u n "A
Unsettled Tone to Stock Specula-
tion-The Westerners Eought
Whisky Largely to Cover Short
Contracts - Large Blocks of
Sugar Thrown on the Market
st. Paul stock Moves Up.
CHICAGO. Feb. 26.-Wheat was weak
at both ends ana strong i'll the middle
of today's session, closing with loss of
5sc for May. n decrease in the visible
supply caused temporary firmnesS;
but free selling, all increase in the
amount of wheat and flour on ocean
passage and rumors favorable to
Farmer" Hatch's anti-option bill were
too much for the bulls, and the market
was generally weak. May corn closed
$sc lower, May oats &c lower. aud pro-
visions lower all around.
The opening trades III wheat were at
decline of from @sc to g C as compared
with the prices current at the close on
Saturday. There was a gradual hard
ening of. the price for an hour and
half during the time the particulars of
the visible supply statement were COM
ing in. That Ueing satisfactory to the
bulls when it was completed. the hard
enlng process continued for few min
utes and then dissolved entirely. The
trade had been light during the time re-
terred to, and those who felt disposed
to buy wheat on the encouragement of
decrease of l, 10000 bu liz the visible
Supply-Which was the change an
nOunced i'll the weeks stockS-had al
ready done so when Partridge and
Leeming came upon the scene with sell
ing orders which tor time appeared TO
LaVe no limit. There were no buyers
ieft on the spot 10 take those offerings
sufficiently fast. and the result was the
collapse. The opening decline was as
rribed TO the following causes: The
amount of wheat on ocean passage
showed an increase of S72. eco bu since a
week ago. The Liverpool market was
shade easier for futures, quoting I'D
decline. The New York stock and cot
ton markets had weak start, and the
weather was not suggestive of any
danger to the wheat plant. The SUBJ
Sequent rally was owing to the
decreases i'll the visible as the
returns came to hand. The OPEN
ing for May was at from $500
$3.50. and ii gradually worked up to
691s960c. and then dropped like stuck
steer to 5915c. the clearances from the
four principal Atlantic ports amounted,
In wheat and fiOur, to about 100000 bu.
The Indian shipments for the week
were 10000 bu. The taking of the
Hatch and anti-option measure out of
the hands of the ways and means COM
mlttee and placing it with the agricult-
ural committee of lie house of repre-
6entatlVeS today seemed further stab
administered to the market. which
caused it to fall again before it had we'll
recovered from the previous ASA ult.
Closing cables were diScouraging, but,
after break to 5S15c, May recovered a
trlt1e, closing only 35c from the bottom.
There was fair trade in corn, though
prices did not cover very wide range.
The feeling was weak and the tone
heavy from the start. The large re-
ceiptS and turn in wheat were factors
which Induced considerable selling.
Opening trades showed declines of 15(0
&c, but the market held steady at these
hgureS some little time, the buying of
about quarter million May by a. prom
lnent concern staying the market. There
was also good buying by commission
houses, which was credited to large
individual trader, which also helped
check the decline. After these buying
orders were executed the offerings
again Increased and prices sagged down
A(@38c, rallied fraction. became quiet
and closed with May but &c from the
lays bottom figures.
Ill oats there was a coed trade early.
there being very free selling by several
large operators: but their offerings
were well taken. Later in the day
trading was light. and the offerings not
large. Influences were mostly bulliSh
The visible supply decreased 100000 bu
and local stocks decreased 4S, 600 bu last
week. The receipts for the day were
but 1875 cars, with 100 cars expected to-
morrow. May opened sc lower, adj
vanced &c and reacted Il to close mid
way between the days top and bottom
figures.
With the arrivals of live hogs at the
yards largely i'll excess of the esti-
mates, and decline III prices for them,
provisions opened weak and lower, and
then ruled fairly steady for time on
the support accorded by prominent
commission house and two eading
packing institutions. The vol me of
trading was light, with corresponding
offerings. A heavy feeling manifested
Itself subsequently, the market suffer
Ing further decline on the weakness
in wheat, too many hogs arriving, and
the fact that there is. practically speak
ing, 10 short interest out. There was,
too, an almost entire absence of outside
support. The trading was quite light.
There was a moderate reaction near the
end of the session, the packers bidding
up the market, especially for pork, the
greater part OF the decline being recov-
cred, withithe closing steady. Compared
with Saturday May pork is 2Oc lower,
May lard re lower and May ribs nc
lower.
Estimated receipts for tomorrow:
Wheat, 70 cars; corn, $50 cars; oats, 100
cars; hogs, $4,000 head.