St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-01-23
BEARS GET IN THEIR WORK
BULL NEWS DOES NOT PREVENT
MARKED DECLINE.
n LARGE VISIBLE REPORTED

Over Fifty Thousand Sugar Shares
Change Hands Congressional
Legislation Causes a Serious
Drop-Final Sales of Stocks
Showed an Advance Over Sat-
urday's Closing Prices.
CHIC AGO, Jan. 22.-There was bul
news in wheat today of the kind which
usually eXcites the habitual supporters
of that side to dare the bears to do their
worst. They were ready to do battle on
the danger now threatening the next
crop. The bears stood pat on their old
and well-tried reliance on the much
worn text: Sufficient urto the day is
the evil thereof" Bull news affecting
next season was Intellectual as against
an S0,000,000 bu visible. Compared with
Saturdays closing price there is de-
cline Of sc, Corn suffered from a
100000 bu Increase in the visible and
declined &c. Provisions were strong
and higher on lighter receipts Of hogs
than had been looked for.
Wheat surprised some people at the
opening by the strength it displayed
Not that there was anything in the
early news of a bearish character, for
quite the contrary was the case, but
there has been such settled conviction
among large contingent of the specu-
lative operators that wheat was dead
that the signs of life it gave this morn
ing raised a protest. Higher cables and
prediction of cold wave were the
strong features early in the session.
The opening was about 4@Hc higher
than Saturdays closing figures, and
after holding fairly steady for while,
became weak and prices declined 40
sc from the top figure reached, then
ruled more quiet, and the closing was
about sc lower than on Saturday. May
opened at 65114 and declined irregularly
To 64s5c.
The corn market was very dull. but
the price rather favored the bulls in
the forenoon. with the tendency in the
other direction later in the session. The
receipts were less than the estimates,
but the increase in the visible supply
was heavier than was satisfactory to
holders. Business was very dull, with
ten minutes Intervals between trades in
the middle OF the session. May sold
sparingly at $500 and gradually de-
cined, closing at 3S11Sc.
Business in oats was quiet and con-
fined almost entirely to local dealers.
There was not much disposition on part
of holders to sell, and the tendency to
buy was even smaller. Prices opened
frm ana sold off, in sympathy with the
larger markets. At the close the low
prices OF the day were made May
sold from 3011s @3O4 down 10 295sc. which
shows decline or from 14@5sc since
Saturday.
The provision market was we'll sus-
tanned at an advance over Saturdays
closing prices. There were reactions
in the course of the days advance, but
there was always strong hand felt
under the market on its weak spots.
The days receipts of hogs were only
$4,000, instead of about a. go or 81, 900,
as expected, and the price at the yards
was quoted from l0c to zoe higher. I hat
was the reason given for the strength
in the provision market. The estimated
receipts of hogs for tomorrow are for
only 10000, and that gave additional
strength to the products.
May pork was the article over which
the spectators fought with most activ-
ity, closing 25c higher than Saturday.
May lard is nc and ribs 1715c higher.
Estimated receipts for tomorrow:
Wheat, l55 cars; corn, 425 cars; oats,
155 cars; hogs, 10000.
The leading futures ranged as follows: