The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-06-02
MARKET SUMMARY.
FINANCIAL.

CHICAGO June Speculative markets
did not all go one way today. While wheat
and provisions were weak, corn and oats
were strong. Weak cables and a total lack
of cash demand caused a decline in wheat OF
nc per bu. Corn, on the other hand, ad-
vanced sc frost damage fears driving shorts
to cover. Oats advanced 244243s for SIM
liar reason Provisions closed at a decline
of about &c all around
Wheat was weak at the opening, in conse-
cuence of the piiing up of the receipts since
Saturday morning and the weakness or the
Liverpool markets, and although dry weather
and sharp frost have been the characteristics
of the climatic conditions since Saturday
that had but little effect in staying the hand
Of the short seller. July wheat which closed
Saturday at $3.50, opened today at 679s0
6724c, and after a temporary recovery to
eSJsG6SAc, it started on a decline, which,
by II o'clock, had carried the price to 6612c,
the little squirt following the opening de-
cline, it being considered that little or no
damage would result from the frost. Liver
pool was 1I5d lower at the opening than it
closed Saturday. Foreigners were said to
have been sellers of December wheat in New
York. Wheat on passage decreased 10000
blu. European stocks, according to Beer
bohm's, decreased SOS, 900 last week The
EnSnSn visible increased SJo,OUU Du. Inc
worlds shipments for the week were 5,705, 900
blu. The domestic visible showed decrease
of 1893. 900 blu, against 95S 900 blu decrease
the corresponding week of the year before.
This a disappointment as the trade had
expected q decrease of at least l, $50, 600 blu.
Chicago received 81 cars of wheat and 161,-
760 blu were inspected out of store. Mime
apolis and Duluth reported 1079 cars re-
ceived since Saturday against 1,453 for the
similar days of the week before and 1,4S4
cars the like days of last year. The poor
cash demand resulted in a total loss of
premiums here June selling at July price.
This was a factor in the liquidation, which
was general and steady all morning. During
the last hour shorts covered to a certain
extent, their offers causing reaction to 67Ac
The latest trading was at 610671sc bid.
Corn was strong and active compared with
the usual dullness of the market The fear
OF extensive damage by the frosts started
general buying, shorts being especially prom
inent, and the market advanced steadily, be-
ing strong, even when wheat at it's
weakest Receipts were very heavy, J. 697
cars. July opened &c higher at 233sc sold
at 2SAc, then advanced to 23Sc. That was
the closing price Oats were firm, helped
by large cash demand by good sized clear
ances and by the frost reports. Trading
was not large, but the market was by no
means dull one. Local receipts were SOB
cars. Local stocks decreased 900 blu.
July opened a shade higher at 173s@171@c
and advanced to 1E24c, where it closed. Pro
visions were very erratic, the market NOV
ing up and down within a comparatively mar
row range. but without any apparent reason
than outside scalpers manipulation. Markes
ultimately felt tn break in wheat and final
prices were ciose 10 the bottom July FORK
closed about &c lower at 81 80; July lard
about sc lower at So 571@63. CO. and July ribs
about &c lower. at $4,000. 32K. Estimated
receipts Wednesday: Wheat. 20 cars; corn,
1,5OG cars: oats 725; hogs, $4,000 head.
The leading futures ranged as follows