The Saint Paul globe., 1897-06-05
MARKET SUMMARY.
FINANCIAL.

CHICAGO, June 4.-Wheat today closed at
decline of 1c per bu. Liverpool which yes
terday was the guiding star for the bulls,
was responsible for the disaster which over
took them today, that market showing
break as sensational as was the advance of
the day before. Other markets were also
weak, corn declining 12@5sc, oats A@3sc and
provisions 5q15c.
Wheat began, as soon as business started,
to rid itself of the effect that the Liverpool
advance of the day before had upon it. That
market reported a decline of Id per GENITAL
before trading commenced here The result
was that July, which closed yesterday at
6S1sc, was sold at the openeing today at 6714@
675sc and declined in the first twenty minutes
TRADING to 671s@67Ac, although few sales
wera made Immediately after the opening at
67@ 6677sc. A Ac reaction followed the drop
to 67B @67Hc then business died away and
the price once more declined to its previous
low point Liverpool meantime continued
to decline, and about the period of the second
drop here to 67Ac, the English quotation for
July was 1%d lower than at the close of the
day before. Another bearish feature of the
early news was the Ohio June crop report,
which gave the condition of wheat 85 or
per cent Improvement during May, as against
a condition of 49 at this date a year ago. The
214c premium over July late yesterday after
noon and early this forenoon, was the only
encouraging matter the bulls had to talk
about, outside of the threadbare statistics of
the trade. Chicago receipts were 21 cars,
and the quantity inspected out was II 900 bu.
Minneapolis and Duluth receipts were 314
cars, compared with 407 a week ago and AIS
the corresponding day of last year. Elevator
stocks at Minneapolis and Duluth are esti-
mated to have decreased 100, 900 bu compared
with 1853, 900 bu decrease at the two places
the week before. Chicago stocks are expected
to show a decrease for the week of 500 600 bu,
and the visible supply a decrease of LIZ 900.
bu Atlantic port clearances of wheat and
flour were equal to 1900 bu. Liverpool closed
with drop of I'd for the day. The market
here declined to SIC on that. No increase of
business followed the additional decline how
ever, and the market ruled exceedingly dull
to the end The closing price was 671kc bid
Corn was easier on fair amount of trade
ing, the decline being due to larger receipts,
freer country offerings and sympathy with the
break in wheat. Short selling was prominent
all day. Local receipts amounted to S57 cars
July opened at A@2sc lower, at 24A@24Ac
1t declined to 23%c, and recovered to 23M@
24c bid where it closed. Oats were dull and
weak, chiefly throuh sympathy with corn
ai1hCuSh sood weather, large receipts and
the extreme narrowness of trade also contrib
uted to the decline. Buying was scattered
Local receipts were 421 cars. July opened NC
lower, at 1S1sc declined to 1724c, and closed
at 177s@1Sc. The provision market was merely
repetition of early days in the week
about the only feature being it's dullness
The Cudahys were sellers, as were commits
SION houses. larger run of hogs than ex-
pecied and the break in coarse grains were
the cause of the decline. At the close July
pork was 15c lower, at $40; July lard, sc
lower, at $3.5212, and July ribs sc lower at
$422A. Estimated receipts Saturday: Wheat
is cars; corn, S35 cars; oats, 400 cars; hogs,
IS 600 head.
The Leading futures ranned as follours: