The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-12-22
FINANCIAL FURRY IN CHICAGO
OFFSET BY BULLISH NEWS
FROM ABROAD.
CLOSE A QUARTER LOWER.
BOTTOM PRICE FOR THE DAY
SCORED IN THE OPENING
TRADES.
ENGLAND OUT AFTER CASH WHEAT
Buying Orders Via New York Came
In a Steady Stream During the
Entire Session.

CHICAGO, Dec. 21.-It was foreign news
against the local bank suspensions in the
wheat pit today, and the former won. Wheat
held remarkably steady and closed only Ae
lower than Saturdays final figure. The
large export demand had a marked sustain
ing influence Corn and oats closed shade
lower and provisions unchanged. Wheat got
a body blow from an unexpected quarter be-
fore the opening. The failure of the Ma
tional Bank Of Illinois came as great
surprise and caused an immediate drop Of
about &c per bu in wheat at the open
ing. The failure was succeeded by rumors
of further financial troubles and the sus-
pension of two private banks soon followed.
Notwithstanding, wheat made its lowest price
for the day at the opening when May was
quoted from 79 to 79Ac. 1t rose to 1880 soon
after and had long struggle between 1915
and 7912c before 1t finally rose clear of the
financial embarrasments and struck a stronger
upward gait. The news otherwise regarding
the wheat situation was pronouncedly bull
ish. The amount of wheat on ocean pas
sage was found to have been decreased SAC, 900
bu since May last; the Black sea ports
exported to Europe only 1854, 900 blu,
compared with 5,272, coo blu on the week
before, and the Liverpool grain market in
consequence was from I'D to I'D per Genital
higher at the opening today than it closed
Saturday. The receipts at Chicago and in the
Northwest were very light. Chicago got SO
and Duluth got 563, compared with $40 a
week ago, and 800 on the corresponding day
of the year before. The visible supply state
ment was somewhat of a disappointment. 1t
was generally expected to show a small de-
crease, 250,O00 Blu or so, but instead
there was an increase of $4,000 bu, and
this was the cause of one of the rather fire.
Quent fluctuations. A great deal of the
strength Of wheat, in the face of the bad
financial news, was accredited to the great
demand from the United Kingdom for cash
wheat at the seaboard and for May wheat
here. New York had buying orders here
Tor May wheat, before the opening at 79Ac
when they knew at the same time it was
quoted at 7S7sc on the curb here The buy
ing orders came in a steady stream from
there all day. Crop damage reports were no
less numerous than before and the injury
from the prevailing unfavorable weather ap-
pears to be spreading. The worlds exports
10 Europe as officially reported were only
6,lSO,OGO bu. The closing figures for
May wheat were 795sQ79Ac, against 1899 on
Saturday.
Germ was slow and weak early. in SYM
2athy with wheat and the causes which made
mat cereal weak, but reacted some later
wren Wheat improved, and the financial skies
became clearer Trading, however, was ex-
uemely dull, and the variation in prices
covered only quarter cent range Nav
opened about 3-16c lower at Csc, and sold to
Zo1sqZ5Ac, closing steady at 25kc Oats
We're weak and lower during the early part
OF the session, but advanced later. and re-
covered IL the loss, with a fraction in the bar
gam: There was considerable buying on the
oecnne; and few short lines besides were
covered; The heaviness was for the most
part influenced through sympathy with wheat
may opened shade lower and rested at
I92Sq1S94c bid The provision market was
uu;I put hrm and although prices at the close
To-Day were almost Identical with Saturdays
cIoslng,s the tone of the trade was firm.
Ialr support was given by packers, who are
n9t ANXIOUS for break in prices at present.
lard shade lower at $4.021S; Nav ribs m.
changed at $4O219. Estimates: Wheat. s.
cars cars; corn, 425 cars; oats, $40 cars: hogs
The reading futures ranged as follows.