St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-09-23
WHEAT IN The LEAD.
For the First Time Since Aug.
g 1t Is Worth More Than
Corn. p.
MARKETS ALL BEARISH,
The Drop In Provisions Bein&
Most Severe--Corn Down IA
Two Cents.
- Z
RISE IN STOCKS RECORDED.
Good Business Shown in Trad
ing in the Trusts and
Changers. =,
MARKETS ALL BEARISH,'
RISE IN STOCKS RECORDED

CHICAGO. Sept. %. - Northwestern
receipts were heavy today. and specu>
lators anticipated a heavy increase in
the visible supply. AS a result wheat
shows a loss of 1ac per bushel, while
September corn dropped 2 cents and
May l cent of their previous values.
Provisions are lower by SIC in pork,
1715c in lard and zoe in ribs. For the
first time since Aug. 6 No. 2 cash wheat
is worth more money than No. 2 corn.
Wheat opened quiet but firm at a.
small fractional advance. The firmness
was in consequence of the inspected
receipts here turning out much less
than had been estimated. The esti-
mated receipts were 160 cars, and the
number actually inspected los. The
general condition of the speculative
situation was unchanged. The weakest
feature of the days news was the heavi-
ness of the Northwest receipts. which
at Minneapolis and Duluth amounted
to $40 carl Dads, compared with only $50
on the corresponding day OF the year
before.
The speculative business was local in
character and rather light in volume.
Fearing the probability of a heavy III
crease In the visible supply the crowd
was bearish, and were all The more in
cllned to sell on account OF the weak
ness of corn. December opened at 5514c,
and sagged YEARLY to 543sc, which was
the price when the ten-minute morning
bell sounded its caution to prepare for
the close. The desire to sell increased,
and SAGE was reached near the end,
with H@5i2sc the closing price.
Corn opened firm, but did not long
remain SO. 1t gradually became weak.
weaker, and was weak at the end. Stop
orders were reached at every &c de-
cline below SIC for May, and as the
closing value was 524c, there were
numerous opportunities for the stop loss
orders to come into play. The weak.
ness was principally in consequence of
the pressure to sell September. which,
for The first time this season, sold at a
7 discount as compared with May, and
for the first time in about two months
cash corn was cheaper than cash wheat.
The receipts were 357 cars by rail and
20, 400 bushels by canal. September
was worth 521sc near the opening and
50Sc at the close, while May declined
lc from the highest to the lowest
price made today.
Gals were active from beginning to.
end. Selling was still very urgent
mostly long stuff, and prices were again
lower. The corn market was also i'll
fuential in helping the decline. The,
first symptoms of the decline were no
tIceable at the start, when brokers for
Cudahy & Co. started to raid the
market with heavy offerings. The gene
eral disposition was. to close out and
the price of May declined from $500.
the opening price, to 34c, the low poilt,.
and at which price the market closed, Il
decline of &c since yesterday. BOyden
x C~arrington- Hannah were among the
heaviest sellers. October ranged from
29%c to 2S}sc, closing &c under at the
latter price.
Hog receipts being light and the grain
markets rather firm at the opening. the
first few transactions showed sone
steadiness. That state of feeling was
500 exchanged for n of extreme
weakness. Stop orders on the decline
were reached in great plenty from the
appearance of offerings, aud the pack
ers led by CT lahy's brokers made it
easy for stop loss orders to he reached.
There was very little recovery at the
close from the bottom prices, although
a gCoi deal of covering shorts was in
| progress during the last fifteen min
uteS Of the session. Business was
active during the greater part of the
day.
Frelghts slow at. TIC for wheat and
14c for corn to Buffalo, and a load of
corn to WalkervAie paid 11@c.
The leauingfutifreS ranged as follows: