The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-09-22
MARKET SUMMARY.
FINANCIAL.

CHICAGO, Sept. 21.-Heavy receipts Of
wheat in the Northwest this morning set
tied the fate of the wheat market for the
day. The December option closed at a de-
cline of 13s@13c, about where it started
Corn was surprisingly firm. considering the
wheat weakness, and closed Ac higher
Oats were unchanged. Provisions were af-
fected by more alarming yellow fever re-
ports, and closed at a decline ranging from
712c to 1712c.
Declines of 11s@11bc marked the opening
in wheat. December, which closed yester-
day at 92Bc, opened today at from 91Ac to
s1asc, and was quoted at 91Ac almost i'm
mediately afterwards. This was the natural
result of the enormous receipts at Chicago
and at Northwest points, and the weakness
Of cables. Minneapolis and Duluth receipts
were 1882 cars, against SOL Tuesday a
week ago, and 903 the corresponding day OF
the year before. Chicago received $50 cars,
against 377 week ago, and 3O5 the CORE
spending day of the previous year. Of to-
days receipts at Chicago only five carloads
were deliverable upon contracts for Deem
Der that have been entered into since the
exclusion of No. spring from the regular
speculative grade. That was about the only
feature of the situation to restrain short
selling that would otherwise, in the temper
of the crowd, have occurred. Liverpool got
down to I'D below the price it closed at
yesterday.
Paris was 10 centimes lower at the start
and the news from London was generally
very dtscouraging to the prospect of any
immediate advance in price. cablegram
from there said that French grain dealers
were reseling American wheat in the Eng
lish market and replacing it with Indian
wheat for spring shipment Another cable
oil uyhn fnr cnrin chi ant prnr
India was offered at As per quarter, or 12c
per blu below figures now current The Lon
don Mark Lane Express says that although
the crop of Russia is very deficient, there
will still be 100000 quarters (64,0000 900 bu)
for shipment from that country. After the
opening decline the tendency for a while
was toward a mid recovery. The opening
was below put" prices, and good many
buyers came In who had those privileges
for protection which caused a rally to 91%
Q91%c, when a new batch Of yellow fever
rumors, coupled with the reports from Lon
don of reselling of American wheat to buy
futures of India wheat, started the market
on a regular toboggan, December selling
down to 9O5sc before a halt was called.
During the decline some stop-loss orders
were reached and the market exhibited the
only activity of the session. A rally then
ensued on covering by scapers, December
advancing to 919s@911ac, at which price it
was quoted at the colse.
Corn was weak around the opening, in
sympathy with wheat, but soon recovered
In response to the bullsh influences i'm
mediately affecting corn. Receipts were 1858
cars, more than 100 below the estimate, and
n4,!ch smaller receipts were expected tomor-
row. Heavy frosts last night were said to
have severely damaged late corn in some
localities. Clearances were 600 blu. Coun-
try offerings were light. The yellow fever
rumors caused the market to hesitate toward
the end but, nevertheless, 1t closed at the
top. Shorts covered generally December
opened sc lower at 301sc, sold to 5000
and closed steady at that price. Oats were
firm especially so for September, but trade
was dull. There was a good export demand
$4,000 blu being reported sold. Prices de-
cfined somewhat during the morning with
wheat but this was recovered later. The
strength of corn a factor. Receipts
were 435 cars. December ranged between
posse and 209s42O1ac closing unchanged al
2O5sc.
Provisions were weak and dull, what lit
tie demand developed coming from shorts
Sensational rum0rs of yellow fever at St
Louis caused free selling late in the day
Cash products were pressed, which also
weakened the market. Hog market firm
and higher At the close December pork
was TIC lower at $S.371a; December lard
10c lower at $4.671A, and December ribs Tx
lower at 81. 9219. Estimated receipts Wednes-
lay: Wheat, $50 cars; corn, 600 cars; oats
$50 cars; hogs. $4,000 head.
The leading futures ranged as follows: