The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-11-18
WHEAT FOR SHhE
PRICES FORCED DOWN IN THE PIT
AT CHICAGO BY FREE LIQUI-
DATIGN.
NEWS WAS NOT BEARlSH,
But TRADERS ACTED AS IF THERE
HAD BEEN NO SHORT
AGE.
ALL OTHER MARKETS SUFFERED
Weakness in Wheat and n General
Pressure to Sell Were the Com
trolling Fac tors.

CHICAGO. Nov. 17.-Wheat closed today at
a decline of 115c. The news was not es-
pecially bearish, but heavy liquidation, which
mas been characteristic of the market for sew
eral days past, again forced prices down
All the other markets suffered from the same
cause, corn declining 3sc, cats Ac and pro-
visions 71zQ1715c. The controlling power in
the wheat trade was thoroughly established
IN command today. Liquidation, which has
been more or less prominent for several
days past reached large proportions during
the progress of the session. The news was,
forS the most part, the reverse of bearish,
but the market acted as if all that has been
recently heard about deficient crops in the
world has been authoritativeIy and finally
eontradicted and an abundance established.
Liverpool opened at a I'D decline for spot
and unchanged for futures. But shortly
after the opening here, private cables re-
ported Id advance in December which re-
suited in considerable buying and a sub
stantial advance. Opening prices here for
December were at 77%@773s as compared
with yesterdays close of 7SAc After selling
at 77Ac for an instant the private cables
referred to caused an advance to 77Ae. The
private cables, however, were a deluson and
a snare for direct cables showed a decline
at Liverpool Of 34d from the opening and
early buyers regretted their confidence.
Northwestern receipts showed a big falling
OFF from last years. Minneapolis and Duluth
reported S3S cars, as compared with 1855
cars last year. A local news collecting
agency announced that the worlds visible
supply had increased 7,780,00o bu last week.
That a not inconsiderable factor near
the opening in starting the selling which be-
came so very heavy during the forenoon.
Bradstreets figures on the visible reported a
total increase of 6,S53, 900 on the worlds visi-
bic, but the smallness of these figures as
compared with the earlier announcement had
little effect. After an advance of 78c there
was succession of irregular declines until,
about 40 minutes from the close 1850 had
been reached. The closing was characterized
by a little more 1rmness, December gradually
advancing to 76az 0767sc bid, where it closed.
Corn was again dull and decidedly weak
the influence being the weakness of wheat.
May opened shade lower at 20Ac, declined to
21%c, and closed easy at 271sc. There was a
good business transacted in oats The open
ing, though lower was fairly steady and
offerings were readily taken. Later mainly
in sympathy with wheat, the market fell off
and foundations became free. May started
about Ac lower at 22A 9222sc declined to
22o, and closed easy at 221sG22Ac. ProVis-
ions were weak from the start. The opening
was at a considerable decline, in sympathy
with the weak hog market AS the pressure
OF offerings increased, prices declined fur
Their, closing prices being about the lowest
OF the day. January pork closed 15c lower
at S.60; January lard, 171ac lower at 1921;
January ribs TIC lower at $S.9712. Estimates
Wheat So; corn. 260; oats, 180.
Tho leading futures ranged as follows!