The Saint Paul globe., 1897-10-02


CHICAGO Oct 1.-Wheat made a great
showing of strength during the early hours
of the session today but gradually changed
around and closed at a 12q3sc decline.
Drought news was again the prominent pull
ish factor. but weak Liverpool cables ana
anxiety to realize ultimately wiped out the
advance occasfoned by the dry weather. corn
followed wheat, starting strong and c-oslng
weak and hc lower. Oats declined Ac ana
provisions closed sc lower all around.
Wheat opened easy at a slight decline, De-
cember, which closed yesterday at So7sW
9Oslc. starting today at 90asq9O12c Thls was
because of the weaker English markets. Inc
weakness was especially pronounced at LiV-
erpool which market started at an advance
of 5667sd. but before the opening here hao
declined to from I'D to I'D below yesterday
closing prices All the offerings at the open
ing prices here were readily ABSORBED, now
ever and an immediate change OF direction
was Unmarried to the market. The dry wealth
or condition reasserted its influence, and the
slight decline at the start was soon Wlpeu
out. and an advance inaugurated. me price
reached size very quickly, and after huctu-
atipg for a short time between tEat ana
9Oslc it took another squirt to 9l9sc Inc
influence of the drought news was lntenslneu
by the fact that no change in the prevalnng
conditions was anticipated for at least thirty
six hours The advance to $3.50 satshed the
bulls. and they took their profits. That
price. in fact, proved the turning point OF the
day.
Various theories were given to account lor
the Liverpool decline, one being that it was
partially due to selling against the NO. Z
spring wheat, for which shipping engage
here
The Chicago receipts were 206 cars. Minneap-
nils and Duluth got ,O96 cars, against 1OO1 cars
q week ago and l. 1876 cars on the corresponding
day of 1896 The Atlantic port clearances
were only moderate at the equivalent IN
wheat and -four of 253, 600 bu. Continental
markets were from steady to firm. More NO.
Q spring wheat that had been delivered on
September contracts was being sent forward
to Liyerpool The quantity was said to De
about as much as was arranged Tor yester-
day, about 250 00O bu. The market grew quite
weak late in the session. There was gooo
deal of disappointment over the weakness
at Liverpool, in the face OF yesterday >
strength here and the advance of the morn
ing. Closing prices at Liverpool were AW
nd lower Many of the early buyers resoid
and the market reached the lowest point
of the day on the decline, December selling
at 90Bc That price was pld at Ile c4ose'
Corn during the morning was in good de-
mand from shorts on account OF the cry
weather and the consequent enforced feeding
Of stock which they claimed was more OIL
a factor in using up the crop than any eX-
port demand Prices advanced quite sharply
in the first two hours, then the market began
to feel the effect of free selling by longs and
gradually declined. Receipts were 547 cars.
Atlantic c.earances were 375,O0O bu. Deem
Der sold between 297s@90c and 29B@29Ac,
closing &c lower at the bottom. oats were
weak and lower, prices declining Ac all
around The late heaviness of corn was an
influential factor and selling was heavy on
the break in that market. The early hrmness
was due to drouth reports. Receipts were
517 cars Clearances we're 26S,000 bu. De-
eember sold at 2OBc and 1850, closing lower
at 1880.
Provisions were easy, showing but little
strength, when the grain markets were strong.
Buyers were discouraged by the more serious
aspect to the yellow fever situation and con-
siderable short selling was done on this ac-
count The market closed close to the bot
tom; December pork &c lower at $S.2212; De-
cember lard &c lower at 81. 5212, and December
ribs &c lower at $472l5@4.75. Estimated re-
ceipts Saturday: Wheat, 300 cars; corn, S25
cars; oats, 500 cars; hogs 1900 head
follows.