The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-11-06
TRADERS WHO HAD LOADED UP
BEFORE ELECTION SWAMPED
THE MARKET.
ALL OUT AFTER PROFITS.
NOTHING TO JUSTIFY A
SLUMP.
CASH WHEAT IN GOOD DEMAND
1t Lost Less Than Cent in Spite OF
the Sharp Decline in December
Options.

CHICAGO, Nov. 5.-All the speculative COM
modties dealt in on the board of trade closed
lower today, wheat declining 23sc corn 1sc
oats Ac and provisions 712c to 1215c. AS was
the case yesterday, large quantities of stuff
bought before election in anticipation of an
advance were dumped on the market. This
was apparently the chief reason for the de-
cline. Everybody appeared to have wheat for
sale when trading in it started. December
which was worth 761ac as the session was
ending yesterday, was urgently pressed for
sale at 75&c. but practically none could be
disposed of until 1t was offered at 75Ac 1t
was only minute or two longer until there
were no buyers at over 75c, and half an hour
from the opening 1t sold at 7411c. Stop loss
orders, in a great number of instances, could
not be filled until the loss had largely ex-
ceeded the limit set by the brokers' customers.
There was considerable disappointment in the
cables, which came lower in spite CT our sharp
bulge yesterday, and it had depressing tend
ency. But this in itself was not sufficient
to cause such a sharp decline, especially
In view of the somewhat bullsh tendency of
other news. The Minneapolis and Duluth
receipts amounted to $40 car loads, compared
with 1,221 on the similar day Of last week,
and LABS car loads on the corresponding day
of year ago. All outside markets were much
higher than this one.
Cash wheat was in excellent demand and
for the most part brought within &c or &c
Oh Yesterdays prices, when even December
was down 212c. Too much had evidently been
bought In expectation Of an immediate big
advance after election, and those who had not
seized yesterdays opportunity to take their
profit, had evidently begun to think it was
now time to take what might still be left
Beerbohms report that the worlds wheat
STOCKS had increased 28, 600 000 bushels during
october was another weakening factor as
was the report put afloat that the later cleo,
ton returns showed the success of the free
silver presidential candidate This report
Wnich had been telegraphed into the country
Drougnt good many selling orders Out
Sloe OF buying to cover shorts and secure
profits, the market receiy ed very little sup
port. Shortly after IL o'clock, the market
Wh!ch, In the meantime, had rallied to 74azc
teok another slide which landed it at 7315c
Haf cent of this quickly recovered
ana at the close December was selling al
ing.
Corn opened weak and renamed in that con-
dltion all day. May started &c lower al
2S7sc, gradually declined to % and closed
easy at 26Ac asked In oats, business was
limited and the market could truthfuIIy be
called a purely sympathetic one. May opened
&c lower at 215s@21&c, declined to 211b and
closed at the opening price, Provisions fareG
no better than the other markets. January
pork closed 1Oc lower at $3.50; January lard
l24se lower at $3.50; January ribs, TIC lower
at $3.50. Estimated receipts Friday: Wheat
40 cars; corn, 375 cars; oats, $50 cars; hogs
,000 head
The leading futures ranged as follows: