St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-02-12

The stock Market Was the Mar
rowest on Record, and Specu-
lation Exceedingly Dul.-st.
Paul and Manitoba Stock
Dropped 1 3-4 Per Cent-Very
Little Movement in Changers.
CHICAGO, Feb. 10.-May wheat sold to
60c today. a new lOw-price record. and
closed with 4 loss OF sc at 6OSsc. After
a steady opening on the cold weather
and larger exports, q loss of 1c was
caused By free liquidation and pressure
to sell. y reaction of sc ensued on
covering by shorts, followed by de-
cline at the close on more selling. May
corn closed 3sc lower; May oats &c
lower, and provisions with but little
change.
Wheat started higher, with Nav sc
up to G078c. The cold weather gave the
bulls some encouragement, as did also
the larger export clearances. and they
SOON had May up to Gle. Renewed
pressure to sell, presumably Oh account
OF the expectation that the next visible
supply statement will show an increase,
started ii decline. however, and May
went down with rush, landing at 60c.
The market seems 10 have acquired the
habit of making new Iow-price records,
and the astonishing price created
but little excitement aid 10 pamcky in
dicationS followed. 1t had been eX-
pected that a decline to 60c would de-
velop another demoraliZing bunch of
stop loss ORDERS, but the orders did not
materiaiiZe. This somewhat alarmed
the shorts" and they proceeded to
cover, with the result that May reacted
y and held steady Tor time at 60$Ic.
Northwestern receipts were again, how
ever, numbered among the beariSh
influences, Minneapolis and Duluth re-
porting total of 100 cars, compared
with l16 Oh the corresponding day last
year. Liverpool advices also were
rather beariSh, and as the session neared
its close tie selling again became flee
and the tirmer feeling wore away, TAX
ing with it 81 for May and that Imonth
closed but = above the days bottom fig
ures. Nav opened at 601sc. advanced sc.
lost 1c. reacted &c and declined s5c to
close at G055c.
Corn was quiet most of the session,
but all uneasy, unsettled feeling per
meated the market. Price changes
were governed largely by the action of
wheat. and the decline today was due
entirely TO The action of that cereal.
Opening trades showed a fractional
loss, bGt that was soon recovered when
offerings again increased and prices
sagged down 14@35c, rallied 15@l4c,
declined 1403sc, and closed with May
but sc above the days bottom figures.
Oats were easier, in sympathy with
" pr ia ~
longs" Prices receded &c and closed
easy after opening unchanged. There
was moderate buying early, but later
buyers appeared to have BEEN filled up
and May finished at the bottom.
Provisions opened strong and higher
on estimated nght receipts Of live hogs
for next week and good bidding, prices
advancing moderately. The offerings
of ali kinds of products were very light,
and the trading CORES p0ndlngIy SO.
There was an effort on the part Of some
or the Local operators to advance values,
but the continued weakness in wheat
had the contrary effect. Some support
was gwen TO the market by two or three
leading packing institutions, prices ad-
yancing for Il time with only slight re-
actions. The improvement in wheat
from the lowest price on record also
contributed 20 the strength in this mar
ket. Later on it declined to nearly the
inside prices of the day on increased Of
feringS and the withdrawal OF the previ-
Gus support with the closing weak most
Of the early advance being lost. Com
pared with last night May pork is SC
higher, May lard 219c lower and May
ribs unchanged.
Estimated receipts for Monday:
Wheat, rs cars; corn, GEO cars: oats. 203
cars; hogs, $4,000.
No session of the board of trade Oh
Monday. Legal holiday in Illinois.
Birthday OF Abraham Lincoln.
heleading futures ranged as follows: