St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-04-19
ANOTHER DUMP IN WHEAT
THE KAY ARTICLE CLOSES WITH 4
LOSS or FjEE-EICHIHS.
UNSETTLED STOCK MOVEMENTS

A Heavy Tone Characterizes the
Close on Wall Street.-The In.
dustrials, After an Early Boom,
Are Pounded by the Bears
General Financial and Com
mercial Gossip.
CHICAGO, April 1S.-Wheat was weak
at the start and finish today, closing
with a loss of 55se for May. Favorable
crnp reports were responsible for the
weakness. and overcame temporary
advance caused by California drought
and an advance at Minneapolis.
Corn was nrm and closed unchanged.
Oats quiet. &c lower for May. and
provisions finished higher throughout
the list.
A heavy feeling was pervading the
wheat market at the opening Oh ac-
count OF the rain which was falling
over great portion of the winter wheat
area. A more considerable decline
than the 1ac or SO which occurred at the
start was prevented 10y the knowledge
that i'm California the drought was still
unbroken, ana that the sleet and snow
storms reported from the Northwest
would cause further delay III seeding
operations there.
Trading came to almost standstill
for a couple OF hours in the middle of
the session, and at no time during the
forenoon was there heavy trade. The
opening prices were quite irregular, but
i'll every case at least &c lower than
they closed yesterday, and i'll a majority
of instances &c lower. The range for
May in the first second or two was from
6G14c to 60c. and FOR july FROM &c to
6lTc. May ratified down to 59szc, and
July to 6l5s@6lIc. then recovered to
6015c and G2ta621sc respectively, follow
ing which there were numerous &c
fluctuations under and back again to
those figures. The first recovery already
referred to was caused by the strength
displayed by the Minneapolis market.
While May wheat here was 1Sc lower
than it closed yesterday. at Minneapolis
it was 70 higher. but the Minneapolis
advance being confined to the May fut-
ure. it lost its first effect as a DulIish
factor. The market became firm when,
shortly after IL O'Clock. it was known
that wheat in San Francisco, at the
opening there, was points higher
than it had closed Monday last. Some
dispatches from there used strong eX-
preSSionS In claracterlZing the extent
OF damage 10 the California crops. Nav
rose to 6014r, but by l o'clock it was
back TO 6Uc. The market closed weak
at SSj5sc sellers.
Corn was very firm except at the
close. Patten Bros. and Bartlett-Frasier
were named as the principal supporters
of the market. Fluctuations had a range
OF &c, and the price during the greater
part OF the session WAS kept above yes
tvrday'S closing rates. The Liverpool
market was I'd higher. and handlers of
TIE property here claimed to have
better inquiry for export.
Tie heaviueSS with which the wheat
market closed caused weakness in corn
also.
Only small business was transacted
In oats. The fine weather and favorable
reports tended to bring about more
sellers,
The provision market was easier at
the opening on account of the receipts
OF $4,000 hogs at the yards and decline
OF from 10 to 15c in their prices. At the
decline with which the days trading
Was inaugurated there was good de-
mand from shorts, and that continued
during the greater part of the remainder
OF The session.
Pork opened off 21z@5c, and closed
with gam for the day of IKE. Lard
started with decline of 212@5c, and
wuund up with an advance of 1Uc. Ribs
sold oil from 2 10 " early, then be-
came strong. and closed l251c higher
than they did yesterday.
Lake business was dull at lie for corn
to Buffalo and l51sc tor corn and 116c for
oats 10 Port Huron.
Estimated receipts for tomorrow:
heat, So; corn, go; oats. 1876; hogs,
$4,000.
The leading futures ranged as follows.