The Saint Paul globe., 1897-10-22
MARKET SUMMARY.
FINANCIAL

CHICAGO Oct H.-Wheat today kept up
It's little game of see-saw, which II mas oeeh
indulging in all week the December option
closing at 3s612c decline. 1t was 9sc ABOVE
Yesterdays final price for time, but llquld-
alton and weakness which developed IN &c
tober dragged the market down. Corn 1ol-
lowed wheat and closed nc lower. oats dlu
likewise. Provisions were independently
strong and closed about 712c higher.
Wheat maintained the firmness OF tone
at the opening that characterized it at yes
terdav's close 1t added from a to 1Ac per
bu to the previous days closing prices as
soon as trading commenced, and during the
two following hours it refused to sell SUD-
stantiallv lower. notwithstanding a good deal
of proflt-taking by the smaller class OIL
longs Principal holders apparently did not
believe 92c to be the limit OF the present
advance and took but little part in the sell
ing Conditions were generally more 1aVor-
able to holders. Cables were all strong ana
higher. Liverpool showed an advance equal
to nc per bu, and Paris was up asc per bu.
The denial Of the statement attrlbuteo 10
the Corn Trade News that the continent wou
require Sc COO coo bu less than heretofore cal
cuiated on also helped the price. The Ne
braska state crop report said the winter
wheat area would be reduced one-third by the
drought The only fly in the ointment was
the statement of the Price Current that re-
cent rains had materially improved the win
ter wheat prospects. Not much attention
was paid 10 this, however. Business during
the morning was more influenced by the fact
that foreigners were buyers of wheat both
covering of previous short sales and for long
account New York wired to that effect and
that was the case in Chicago also.
December opened at from 91A@92c, as com
,Ioc Y,,-ica Of
6915c. 1t sold at 915s@91Ac, then turned
and by II o'clock had advanced to 92Ac. Chi
cago received 1873 cars, against 320 estimated
and only II were contract. Minneapolis and
Duluth reported S54 cars, against Isl last
Thursday and 1,090 the corresponding day OF
the previous year. Atlantic port clearances
were 6l5 geo bu for the last week. The de-
mand here from local millers for low grades
of spring wheat caused lc per bu advance in
price of No. spring. One lot of $4,000 bu
of No. 3 spring was sold to go East. The
market broke badly during the afternoon.
October became very weak on selling by Gle
vator people and interest in December died
out, the crowd doing most of Its trading in
May. Some of the buyers Of the morning
sold out and the result was a decline in
December to 91@911Sc. There was practically
no rally, December closing at 91bc asked.
Corn was firm early. partly with wheat,
partly on covering by shorts, but mostly
on the greatly improved shipping demand,
there being an out inspection of $4,000 bu.
Trading was only moderate, but prices were
well maintained until wheat turned down,
when corn showed its sympathy with the
movement. Offerings became quite free at the
decline and continued TO the close. Receipts
were 626 cars. Cables were "a to I'D higher.
December ranged from 26bQ26Ac to Z5Ssq
25Ac and closed Ae lower at 25%c. There
was very quiet session in oats. The mar
ket followed corn, being steady at slight
advance during the morning but moving of
later. Cash department was also quiet, very
little fresh business being reported. Re
ceipts were 24S cars. Seaboard clearances,
225,O0O bu. December ranged from 1872 to
1Sc, closing Nc lower at lSQ1SMc.
Provisions were firm and higher, closing
near the top prices of the day in spite OF
weakness in grain. Better reports about
yellow fever had something to do with the
strength but the cash demand was said to
be excellent from all points outside of fever
afflicted districts in the South. feature
was the buying of lard and ribs by Armour
At the close December pork was 71ac higher
at $7.S719 Dec q Der lard 714c higher at $40
and December as 71ac higher at $4.5712. Esti-
mated receipts Friday: Wheat, $50 cars
corn $40 cars oats, 300 cars; hogs, 25,OOt
head.