St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-02-20

the Various Changes.
CHICAGO. Feb. 19.-Wheat declined
iLc today, and closed with a loss of Bc
for May. Free selling by New York
and local traders was responsible for
the decline. After a firm opening. and
a slight advance on better cables. the
price went steadily down, with a reac-
ton of but &c from the low figures at
the close. May corn closed sc lower,
May pats &c lowers and provisions lower
all around.
Wheat opened at &c improvement.
compared with its value at the close of
Saturdays session. There was a lack
of enthusiasm at the advance, and such
as there was got easily squelched by the
execution of Il few selling orders from
outside sources. notably from New
York. The better feeling at the start
was due to an advance OF from Ac TO
I'D, which Liverpool reported at the
opening. That advance was accompa-
MED by the remark that there was a
hard frost in England There was also
ONE talk of a cod wave headed in the
direction of the winter wheat districts
VI lLAAO "a ' hlAlNA hNO ilOlhiS sup
port to the market here at the start.
There was also a small decrease
in the amount afloat as compared
with the quantity on passage a week
g The primary marker receipts, SO
far as known Of them before the open
ing, were light. The later cables, how
ever, did not repeat the irmness of
those first received, and the clearances
from the seaboard were disappointingly
small. The opening price for may was
594c, and il kept til at value for about
ten minutes. IL then became weak, and
about an hour and a half from the OPEN
ing it had declined to $3.50. The visible
supply showed a larger decrease than
had been looked for, o93. 900 bu re-
duction being reported. That, however,
did not help to strengthen the
market. for the lowest price of the day
was reached after the visible statement
was published. COttrell, of New York,
was credited with heavy selling here
through I'll. Lester d Co., and John
Cudahy was thought to be the principal
behind the selling of several brokers
who had apparently large quantities to
dispose of. Armour IL Co.. also sold
freely, and under the depressing intiu-
ence of the heavy sales May went down
to 57Tc. and closed but &c from the
bottom. May opened at $3.50 TO close
at 5SSc.
In corn there was ouly a moderate
trade, the market ruling quiet all day,
with the exception of a short time at the
opening. The ton at the start was
finn, and opening trades were at &c
advance. and values held quite steady
for a while, Until wheat turned down,
when corn SympathiZed, selling Off 3S@
&c and rallying later on A@4c, de-
clined K@4c. The car lots were about
as expected at 423 cars, but tomorroW'S
estimate was placed at $50 cars. The
increase in the visible supply and also
local stocks had the effect OF weakening
prices, and May closed but sc from the
bottom figures of the day.
There was Il light trade in oats, and
an easy feeling, in sympathy with
wheat and corn and on fair selling by
scattering longs. Prices receded &c
and the close was easy at the bottom.
Provisions opened easy and slightly
lower Oh the run of live hogs at the
yards being i'll eXceSS of the estimates,
reacted on the strength early in wheat
and then sold off to a moderate extent
when that cereal broke. Good buying
of corn, however, sent prices up again
to the outside figures of the day thus
far. The offerings were light. with a
corresponding volume of trading.
Later OIL the market ruled weak, de-
Ginning to the lowest point of the day
on two blocks of mess pork being
thrown ON it. A better feeling subse-
queutly prevailed for a brief period,
but prices declined again on the weak
ness in wheat. Shortly before the end
of the session the market rallied again
to a certain extent, the undertone OF
frmness asserting Itself, with the clos
ing steady. Compared with Saturday
night, May pork Is l5c lower, May lard
2Ic lower and May ribs 1219c lower.
Estimated receipts for tomorrow:
Wheat, 70 cars; corn, 75O cars; oats, 225
cars; hogs, 5000.
Theleading futures ranged as follows: