The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-02-17
WHEAT FELL BACK
ALL THE GAIN OF MONDAY
LOST IN THE CHICAGO
PIT.
ON THE ALTAR OF PEACE.
LONG LINES WE'RE OFFERED FREE
LY ON THE NEWS FROM
EUROPE.
OTHER MARKET FOLLOWED
Provisions Weak and Dull i'm Sharp
Contrast to the Session of the
Previous Day.

CHICAGO Feb. 16.-As was the yes
terday the grain markets were controlled
almost entirely by the European news, but
with a different result, the more favorable
political situation causing a decline in May
wheat of about 13sc. Corn declined sc.
oats 14c and provisions 7l2G1712c. Wheat
opened uncompromisngly weak, and the eau
tious bears who had waited until the
clouds of the day before had rolled by, were
enabled to enjoy to the full the more peace
full aspects of affairs in Europe. English
cOnsOls were nearly back to their original
height before the scare had disturbed
their serenity, and Liverpool. far from
spending to the jump in prices on this side,
opened at an actual decline and continued to
decline during the day, the opening slump
being from 120&4d. May, which closed here
yesterday at 7514 G753sc, opened today at from
7412d742sc, and after touching 1850 it worked
gradually down to 1880, which latter point it
touched about II o'clock. The Atlantic port
clearances for the day were light, which
was another source of weakness and the
only circumstance which steadied the market
for a while was Bradstreets report of the
worlds visible being given at a decrease of
2,295, 600 blu, compared with increase Of
about 400, 900 bu the corresponding week of the
year before. The exports of wheat and -four
were equal to only 1877, 600 bu. Closing cables
were very WEAK. Inc Sludllu6SS Oh TSCeIplS dJ
primary markets, as compared with receipts
year ago, were a great source of comfort
to spectators on the bull side, and were
responsible for the slight show Of strength
shortly after the opening, when a rally to
74ssc occurred for a moment or two. Crop
damage reports from various parts Of the
country were also present in abundance, but
this has occurred so often of late, and has
been just as often denied, that but little or
no attention paid to them. Chicago had
Al cars inspected into store and SO blu inspected
out. Minneapolis and Duluth receipts were
246 cars, against 352 a week ago and 452 last
year. Trade became light after II o'clock,
but previous to that considerable long wheat
was offered upon the altar of peace. The
price of May rose and fell several times be-
tween the limits Of 1885 and 74c, the latter
being It's value at the close.
Corn was quiet and weak, Influenced largely
by the course of wheat and the break in pro-
visions, the primary cause of course being the
same as in wheat. The advance of yesterday
gave shorts a chance to make little profit,
but the steadiness with which they unloaded
showed they fully appreciated the fact. Allan
tic exports were 5S7, 600 blu. May opened 3-16c
lower at 2324c, declined to 23s@2815c and
closed easy at 2312c bid. A good sized business
was transacted in oats and the market was &C
tive throughout the session. The opening
steady to firm on good buying by shorts.
Later the market declined under pressure
to sell by the same parties who were purchas-
ing early. sympathy with wheat also as
sisted in the drop. May opened Ac lower at
lie, declined to 1910, then rallied under some
covering to 1880, where it closed Business
In provisions was light, in great contrast to
the activity prevailing yesterday. The mar
ket opened weak and lower and remained
weak throughout the session, with still
further decline in pork, and with prices
Gear the bottom at the close. Large receipts
OF hogs with accompanying lower prices and
the weakness Of grain markets were both
factors in the decline. At the close May
pork was 1712c lower at $7.S71a; May lard, 71Ac
lower at $3.0212, and May ribs sc lower at
S4.021z. Estimates: Wheat Is cars corn
24O cars; oats, 22O cars; hogs. 10000 head.
The leading futIrns ranpad foIloua.