St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-04-24
DOWN AT HOT PACE
Grain Quotations Take a Tunl-
BILE and a Big Slump Re-
suits.
CENT AND A HALF DECLINE
In Wheat, Other Cereals Tail
ing Along Behind--Pro-
visions Weak.
CENT AND A HALF DECLINE
STOCKS STILL GO UPWARD
Bull Movement Receives &
Fresh Impetus - Bears
Control Coal Shares.

CHICAGO. April %. = Wheat
! turned sharply. today and started
down at hot pace. Lack Of demand
and free selling weakened wheat, and
: the other markets followed. Wheat
closed at a decline for the day of 1sc
per blu, corn at a loss of 1sc, oats are
at declines.
Wheat started at 11sc decline.
Shorts had apparently covered TO con-
tentment, and there was much bear
ish news to encourage sellers. The
public Liverpool cable giving the
opening Of that market described it
as steady at I'd decline. Another
Liverpool cablegram said millers are
refusing to follow the advance and
the prices Id lower since the opening.
The Russian shipments of wheat and
flour for the week were reported to be
100000 blu, and an addition of the
clearances from all the exporting
countries revealed a total of 1888, 900
blu, compared with estimated weekly
requirements by the importing coun-
tries of 100000 bu, or an excess of
1853, 900 bu for the week. The receipts
for the day at Minneapolis and Du-
luth were 2S6 cars, compared with
1SS cars On the corresponding day Of
the year before. An item of con-
siderable significance was a quotation
of 26S for gold at Buenos Ayres,
which is IA to Is per cent higher than
the premium it was bringing ten days
ago. The advance in the gold premium
makes Argentine wheat cheaper to
the English importer, just as the re-
cent advance in silver made Indian
wheat dearer. AS an offset against
that matter was another dispatch
from Rosario, which said holders of
wheat very firm and stocks light.
New York dispatches reported 30
boatloads Of wheat taken as export
yesterday, and commission houses
here had plenty of inquiries from
country millers for No. 2 red. The
.>esh demand from country millers
Sas good, but was not on a suffi-
Gently extensive scale to offset the
.lsect Of the cleaning out of all the
..e.ort wheat. Some manipulation OF
: ~ May deal in st. Louis, which ran
O'Clock, caused a nervous feeling
here, and an advance of 1c per blu
over the lowest price July and May
wheat sold for at the opening. The ST.
Louis scare was quickly got over,
and the reviving bullish feeling here
was Immediately shattered with
breaking Of what was being styled
the st. Louis corner. The opening Of
May was at from 6OA to Zoe, and Of
July at from 6l1a to Gle, as compared
with the. respective closing prices Of
61ss and v621se on the. day before. A
few sales of May were made as low
as $3.50, the latter recovered to 607sc
and July to &c before the second
break began, and at about the bot
tom of which the market closed. May
declined to 591ac and July to 60Bc;
the latest trading was at 597sc for
May and 607sc for July.
Primary market receipts amounted
to 233e00 bu, against ISL 600 blu on the
corresponding day of last week and
221,C0 blu a year ago. Export clear
ances from Atlantic ports were equal
to 455, 600 blu in wheat and flour. Brad
streets statement of the stocks of the
world gave them at 2,3SS,0O0 blu, less
than they We're a week ago.
The corn market was weak at the
start, under the influence of the break
in wheat. May, which closed yester-
day at 4SAc, was for sale at the start
at from 47$4 to 471ac, and sold as low as
4T4@i87sc before it had any reaction.
It recovered to 47A@47zsc, but broke
from that point gradually at first and
then rapidly until it touched 467sc, near
the close, the latest trading being at
47lsc
Oats were fairly active throughout
To a great extent fluctuations followed
the course of the wheat market. Brad
streets Increase in the visible supply
of oats Of $4,000 bu was credited with
assisting the decline. The feature of
the market was the widening of the
difference between May and July. At
the opening of the session May was
selling at a premium of Ac over July.
At the close prices were 1bc apart,
caused by an improved inquiry for
May, while the late buyers of July to-
day were disposing of same quite free
ly. May sold from 2Saz to 2S7sc, declined
to 2Slsc and closed at 2SA@2S5sc. July
ranged from 2S1lzc to 2Sc and rested at
2S02s1s, 1a@5sc lower than yesterday.
The provision market was rather
quiet, with very little disposition to
trade shown by the spectators. George
Baldwin tried to wake up some feeling
on the bull side, but received very
slender support, and retired The de-
cline in wheat and dullness in the hog
market were given as reasons for the
apathy in the products. Fluctuations
were light, and at the close the reduc-
lions in price were not heavy. Pork
compared with its value at the close
yesterday is from 21ac to SC lower:
lard from sc to nc lower, and ribs
: show losses about equal to the decline
In lard.
Estimated cars for tomorrow: Wheat.
q: corn, 175; oats, 230; hogs, %, 900 head
The leading futures ranged as FOL