The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-10-28
WHEAT AGAIN ON THE. SLIDE IN
THE PIT AT CHI
CAGO.
THE OTHER MARKETS TRAILED.
CORN AND OARS BOTH LOST FRAC-
81 TIONS AND PROvlsIONs FELL
q Off.
EVERYTHING WAS AGAINST WHEAT
Weak Cables, Heavy Northwest Re-
ceipts and Stop Loss Orders Were
the Controlling Factors.

CHICAGO, Oct. N.-Wheat suffered from a
variety of causes today and closed with a
loss of &c. though selling at one time &c
under that figure. Among the chief reasons
for ths slump were the disappointing cables
and heavy liquidation by prominent brokers.
Other markets were also affected to degree,
corn declining 1sc, oats about nc and pro-
visions 212071ac
Everything was against wheat at the open
ing of the market today. The most depress-
ing features were the early cables and the
Northwest receipts. After the advance of
lie here yesterday, Liverpool was expected to
show steadiness at least, and the weakness
of that market was decided disappointment.
Northwest receipts were remarkably large,
ISIS cars, as. compared with 1,537 last week,
and 1874 last year. At the starting of tho
regular trading there were no buyers Of De.
cember at over 70Ac, and so anxious had
sons people in the crowd become to sell
having SUI. Loss orders at about 7oc-that a
sale or two at 6s7sc took pee IN the opening
melee, as against yesterdays CLOSING price
of 70ac. If it had not been that about 1,5OO;-
900 bushels of hedges against the wheat in
the Pacific elevators had to be bought IN,
owing to the destruction by fire yesterday,
the opening weakness would have been great
er. Later Liverpool cables noted decline
for December to 69&c, after having had
IedCllOH ITOL1 LIE OpcHlIS W tV72C.
Another depressing factor was the liberal
selling for foreign account, and during the
first nour such sales are believed to have
aggregated over 600 bushels. New York
also poured in selling ORDERS as did the other
leading markets, and the trade simply
swamped with offerings. Another disturb
ing factor was the high money rate at New
York. John Cudahy was a steady and per-
sistent seller, especially on the soft spots.
His tradings have been very heavy for some
time, and as he has generally been on the
right side Of the market, he had long fol-
lowing, the consequence being that wheat
poured the market at times in a perfect
avalanche. Prices continued to go downward
during the last hour under heavy liquidation,
December finally reaching 69Ac. This was
the turning point and December had recover
ed to 69a4c at the close, though remaining
active and nervous to the end.
Corn ruled slow and weak, following the
course Of wheat. May opened about Nc lower
at 2SA@1ac, and gradually sold down to 27szc
closing weak at 27M@28c. Oats were quiet,
but steady, holding better than wheat or
corn. Prices held well up to noon, but in
the last hour were affected by the drop in
wheat. May opened a shade lower at 21Mc,
declined to 211s@Ac, and closed at 21asc ask
ed. A fair amount of speculative business
was done in the provision pits, but there
were more sellers than buyers most of the
time. After ar opening decline, prices fuc-
tuated but little, January pork closing 71ac
lower at $7.82; January lard 21ac lower at
$3.50; January ribs sc lower at So S5@$3 S715.
Estimates: Wheat 200 cars corn 800; oats
$50; hogs $4,000 head.
The leading futures ranged as follows: