St. Paul daily globe., 1894-02-26
MAY WENT DOWN ONE CENT
FREE SELLING AVID LIBERAL NORTH
WEST REc:L9Tj RESP0H5L5LE.
yWOCK SPECULATION DULA.

2ugar Went Up 2 5-S on Reports
From Washington That Duty
Would BE Imposed = whisky
Broke 3 ia Fer Cent on Heavy
Selling From Chicago-A Tum
bic in Lackawanna.
CHCAGo, Feb. 24.-Wheat again de-
slined today and May closed with lie
loss. Free selling, small export clear
anceS, the mild weather and liberal re-
ceipts in the Northwest were RESPONSE
bic for the weakness. y little buying
caused a temporary reaction, but May
closed only sc from the inside figures.
MAY core closed Sc lower, May oats sc
lower. and provisions lower all around.
Wheat opened weak aud with greatly
diminished activity, as compared with
the big business of the previous day.
The starting price was at a decline of
from y to 55c, the first transactions
being AT from 603sc TO G015c. as compared
with 6l@6llsc at the end Of yesterdays
markets. During the first hour and
half.which comprised the larger half OF
the short session, the range for May
WAS inside of the limits of 6Ol496OS5c
and 6O3<c. Some long wheat MAS sofa
out ana some short wheat covered. put
there was not business enough 10 Sug-
gest that any change occurred i'll any
important lines un either side OF the
market The more conservative OF the
bulls recognize the necessity OF pa
tience, but there IS q more radical ele-
meut Oh that side Of the market which
would be disheartened by an advance
of less than from lc 10 &c per buShel
per day continuously and Indefinitely,
and are correSpondingly ready TO take
deSpOnding view OF their prospects
on any intermediate countermarchlng
during the bull campaign. Those latter
were sellers OF long wheat this after
noon.
The cables were not suggestive OF
more than very lukewarm sympathy
with the last two DAYS advance here.
The weather was mild with warm
wave in view. Liverpool was quoted
firm at the opening, but closing easier.
BradStreet'S gave the exports of wheat
and flour from both coasts tor the week
nj I,130. 800 bu, compared with 100000
bu last week, and $3.50 SIS bu on the
spending week of the preceding
year. Minneapolis received 149 cars OF
wheat and Duluth 1872 cars as against
253 and ; cars respectively year ago.
Chicago receipts were only ~ cars as
against 226 cars last year. New York
expects decrease in stocks OF wheat
apoliS of $4,000 bushels and
ST. Louis a decrease of 225,000
bushels. The general expectation
as regards the total in the visible is that
il will slow a decrease of 1.50C, 900 bu.
Comparing the difference in the relative
receipts this week and a year ago, the
decrease should amount to something
over 2,000,0 900 bu. New York sent bear
ish dispatches, but reported export pur-
chaseS of twenty-three boat loads. The
market weakened in the last hour of
the session. May declined to 60c, re-
covered to 60$sc Oh little buying, but
was down again to 6J@6015c at the
close.
Corn was dull, the market ruling
quiet and stagnant the entire session,
prices keeping within fractional limits.
An easier feeling prevailed, the market
opening Oft Is C and sold down &c more,
all of which was due to tbs action of
wheat. At the decline the prices held
steady and the market closed with May
at the days bottom Tgures.
In oats there was m0derate trade
and an easier feeling. due to sympathy
with wheat and com and on prospects
OF All increased demand. Prices Ie.
ceded i C and the market closed quiet
at the inside.
Provisions were weak and lower early
Oil the business in live hogs at the yards,
liberal receipts all over the country, the
decline in wheat and free selling of
pork by a prominent broker and lard by
leading packing institution. The
volume Of trading WaS'very light, with
no outside support. y moderate re-
action in wheat little later Oh was re-
sponsble for the market improving to
the opening prices of the day. When
wheat broke this morning it declined in
sympathy 10 below the inside prices of
the day and then rallied to partial ex-
tent shortly before the end Of the seS-
sion on little buying. The market was
all extremely narrow and featurelesS
one, with pork and ribs closing steady
and lard firm.
Compared with last night, May pork
is 713c lower, May lard sc lower and
May ribs sc lower.
Estimated Receipts for Monday -
Wheat, 4U cars: corn, 400 cars; oats, 155
cars; hogs. SO, 900.
The leading futures ranged as follows: