The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-01-20
BREAK ON THE CHICAGO STOCK
EXCHANGE THE MOST POTENT
INFLUENCE.
THE CLOSE WAS SEC DOWN.
THE GENERAL DRIFT OF SPECULA.
TIVE SENTIMENT WAS DECID-
EDDY BEARISH.
OTHER MARKETS SCORED LOSSES
Corn and Oats Dropped Fractions in
Sympathy with Wheat, and Hog
Products Fell OF.

CHICAGO, Jan. 19.-Wheat ruled weak to-
day and closed at a sc decline being af-
fected principally by the break In the local
stock exchange. Corn, oats and provisions
were weak in sympathy, corn losing 1sc, oats
&c and provisions from IL to 15c. In wheat
the drift Of speculative sentiment was pro-
nouncedly bearish at the opening and the
session naturally started with decline. The
Liverpool market opening with 12d decline.
AS the local market had dropped equally as
much yesterday this in itself was not suf-
fcient for the decline which followed the
opening, but when later cables showed a
still further drop it was considered a suf-
fcient incentive. May opened at 79$4q79B,
compared with yesterdays closing price of
S01sc, dropped in a few minutes to 1850, re-
covered to 1880 and then fell off to 79l2ql93sc
by 1890 o'clock. The other routine news
at the opening was similar to what has been
usual for some time back. Chicago shipped
a good deal more than she received, getting
ffty-two carloads and shipping by rail 1O3,-
900 bushels. The out-inspection was IA 900
bushels. Minneapolis and Duluth received
PCS cars, against $50 a week and S42 on the
corresponding day of the year before. Some
further bearish features developed, but the
market appeared to have been already some
what oversold, as instead or a further break
the price began to mend after their receipt,
finally climbing up to S01sc, which was the
high mark of the session. The Atlantic port
exports were again light, the wheat and
-four amounting to only 10000 bushels.
The local stock market was so weak, as to
attract considerable attention. Weak stock
markets, no matter where always have more
or less effect on the local grain markets, and
the wonder today was the comparatively
small effect it did have. 1t was sufficient
however, to break the market to 1880. Be-
tween 1850 and 1870 fluctuations were main
tained for a long time, but near the end the
price Topped to 791Ac and closed at that.
Corn was very heavy and depressed all
day without losing more than Mc per bushel Of
Its previous value. Much Of the weakness
was caused by the decline in wheat, but
holders were less inclined to sell, and but
slight decline resulted. Bradstreet's reported
g visible increase Of ], 1874 900 bushels. May
opened a shade lower at 244c, sold between
242sc and PAS, closing at 241sQ24Ac. Oats
weakened under the influence of liberal Of
ferings, and through sympathy with wheat
AT the opening, buying was heavy. Shorts
being active buyers, but these same people
unIoaded later as wheat declined creating a
decidedly weak feeling toward the end of
the session. May opened a shade lower at
1SAc, sold at 1880 and declined to 1Sc, closing
at 1Sg181sc. Provisions were afflicted with the
contagious weakness Of the grain markets
the consequence was, as before, that a mod
crate quantity offered could not be absorbed
and sharp decline followed. At the close
May pork was about 15c lower at $1,000
1.9Z12. May lard about nc lower at S4.G5,
and May ribs 1Oc lower at $4071A Estimates:
hogs A.. 1000 head.
The leading futures ranged as follows: