The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-09-24
MARKET SUMMARY.
FINANCIAL.

CHICAGO, Sept. 23.-The wheat market
seems to have been played with by the bull
clique today. Shorts, startled into cover
ing. had to bid prices up nc before they
we're filed. Then heavy offerings broke the
price to a point 1ac below yesterdays close.
December closed at a 7s@Ac decline.
weakening factor was the widening of the
May discount. Corn followed wheat and
closed 3s01ac lower. Oats closed shade low
er and provisions declined 5@712c.
Wheat at the immediate opening, was easy.
Curb prices inclined TO weakness on account
of rather sharp decline at Paris, but the
higher quotations from Liverpool caused the
market to turn strong at once. December,
which closed yesterday at 921ac, opened to-
day at from 92h@93c. Shorts started to
cover, ran up against a snag in the shape
of scarcity of offerings, the price being hoist
ed to $3.50 before any wheat of consequence
came on the market. Northwest receipts
were again heavy and that caused holders to
exercise caution, so that when the price had
risen to $3.50 plenty of wheat, showing a
profit was unloaded. The receipts at Min
neapoIis and Duluth were 1,193 cars, compared
with 901 week ago, and SOC the correspond
ing day of the year before. Those cities, how
ever, are still paying the &c to 212c premium
for immed ate delivery. Chicago receipts wee
239 cars only SO of which we're contract. The
quantity inspected out of store was 9052S bu.
The previously exploded rumor that Russia
intended prohibiting exports of wheat was
revived again about the time closing Paris
cables were received, showing complete re-
covery from the early decline. This sent De-
cember skyward again, the price climbing
with hardly a halt to $3.50. At that price
big trade was done, large quantities of
wheat being dumped on the market. The
abS
but in the end the weight proved greater
than the market could bear, the market be-
coming quite weak when explicit denials of the
Russian reports were received. noticeable
feature during the advance was the refusal
of May to respond except in an extremely
unwilling and backward fashion. When De-
cember was readily bringing 9324c, the May
delivery barely touched 917sc, and house
with close Liverpool connections said they
had liberal selling orders from the latter
place for May delivery. Export clearances of
wheat and flour ION Atlantic ports we've equal
to 100000 bu The receipts for the day at the
four principal outside winter wheat markets
kansas City, st. Louis, Toledo and Detroit
were only 1S2 900 blu out of the total primary
market receipts, which amounted to 1276,0O0
bu The latest trading in December was
at 92A@92$sc.
There was a smaller business in corn. The
market averaged firm all forenoon, starting
1kc higher on light receipts and the steadi-
ness OF Liverpool cables, and enjoying good
support as long as wheat Kept strong. TO
ward the end, however, when wheat COM
menced to slip, corn followed very willingly
Receipts were ass cars. Atlantic. exports were
343 591 blu. There were claims OF accumu!a-
ton of stocks at Eastern points. The snip
ping demand slow. December ranged
from 31$s to 3O5sc, closing as@12c lower at
805s@9O%c oats were steady up to the
last hour of trading. Then that market struck
a slippery place, too and dropped with the
rest of the markets. There was an excellent
shipping demand, which was mainly response
bic for the buoyancy displayed. sympathy
with wheat and corn caused the decline. Re
ceipts were 3O5 cars. Charters were for 6S5, COZ
bu December ranged between 2l1s and 2094c,
closing about &c lower at 20%c.
The incubus of the yellow fever epidemic
weighed down the provision market. Prices
started weak on that account and through
sympathy with a weak hog market and the
market ruled heavy all day. Cash trade was
only moderate There was very little outside
trading A moderate line of long pork was
liuuidated. At the close, July pork was 112c
lower at IS. 321a, December lard DC lower at
81 621b, and December ribs &c lower at $3.50:
Estimated receipts for Friday: Wheat, go
cars; corn, 600 cars; oats, S25 cars; hogs, 2lOJO
head.