The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-10-14
SEVENTY IN THE CHICAGO
PIT.
CUT DOWN BY REALIZING.
ON THE REACTION AN ADVANCE OF
OVER A CENT WAS
SCORED. a
PROSPERITY FOR CORN AND OATS.
Provisions Alone Ran Counter and
Ended for the Day With Prices
Showing Net Losses.

CHICAGO, Oct. 1S.-Wheat today sold
Der touching 70Bc at one time To
the surprising strength shown by the
Liverpool market, was due most of
the advance. Heavy realizing created
g. reaction later, but the Decembei.
option scored a 11sc advance on the
day. Corn and oats both shared in tho
prevailing prosperity and advanced
&c each. Provisions were the only
commodities to decline, pork, lard and
ribs showing reductions of 25@5c.
Wheat started with a Jump of about
INC per bushel, much to the disgust
of many of the bulls who had sold
their long wheat yesterday The sud-
den advance was principally because
of the strength with which TIE Liver
pool market had started. Both wheat
and corn in Liverpool opened at Id
advance upon yesterdays closing
prices. This rise indicated independent
reasons for higher prices, which were
partially explained by a cablegram
saying it was due to specul ltion To
the news of yesterday, too, was due
part of the strength. With an ac-
knowledged shrinkage in our own crop
OF nearly 60000,000 bushels from last
year, an admitted shrinkage in Russia
of $1,000 000> bushels and over 200OO,-
900 bushels in Argentine, with the news
of disaster to the wheat crops of In
dia and Australia, there is no longer
room for reasonable doubt that Amer
lea will be called upon for larger con-
tr1hntIOnS 70
supply with the ability to respond less
than usual
Inc range of prices at the opening
was a wide one. Decembet scld at
from 1880 to 7O%c, very sparingly
at the extremes, but heavily at
from lO9sc to 70Ac. The closing price
yesterday was 691sc The figures given
marked almost the entire range Of the
forenoon's fiuctuation, the only excep-
tlon being dip to 70Ac as the Gull
mlnat1ng point of a general reaction
which set in after the opening splurge.
but that was followed by a second
rise to 7OBc before II O'Clock. Tho
principal bearish factor was again the
heaviness Of the domestic receipts
Chicago got BAT cars and Minneapolis
and Duluth together 1 ,433 cars, against
l,2S9 week ago and l ,446 on the COR
responding day of the year before
Bradstreet's visible supply statement
showed an increase in the worlds stock
OF $685. 900 bushels. This was heavier
than expected and caused a temporary
silght depression in the market. but
the erect was dispelled by the strength
CT the closing cables, and encouraged
by that strength, there were plenty of
buyers on every soft spot The price
OF december had numerous f1uctua-
tons between 70as @70%c ana finally
rested at 7oAQ70$sc, or 11sc rise for the
Gay. The re-selling of some $500 bush
els taken some days ago for exnoTt
created slightly easier feeling at the
close.
Corn got a good send-off and in the
Irst few minutes Of the session showed
rise or lc in the price of May. but
sellers became too numerous for such
considerable and sudden advance TO
hold The undercurrent, however. was
Lulllsh all day May opened irree1l-
lar and about sc higher, at from oslo
TO 289sc, advanced to 28Ac and de-
cl1ned to 2S12c, where it closed Oats
'pened firm, grew very strong and adj
vanced considerably in price. Demand
was very good, shorts especially being
active buyers. May opened about &c
higher at 2O5s @207sc, advanced to 215sc
and closed steady at 21c Provisions
opened with strong bullisn feeling
but enormous offerings by packers and
EngIlsn houses caused decided reac-
ton and the close was at slightly
lower prices. January pork closed SC
lower at 1910, January lard &c lower
At S4.671a. January ribs 21hc lower at
$4.O72. Estimated receipts Wednes-
cay: Wheat, 270 cars; corn, S65 cars:
oats, $50 cars; hogs, 81, 900 head. J.
Inc leading futures ranged as follows.