The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-04-08

CHICAGO, April 7-Wheat today had the
most disastrous break it has suffered in
many months, the May c9ticW declining from
69N to 655sc, a clean drop of $40, while July
was an almost equal sufferer. Liquidation
started by weak cables and worlds visible
increase, was very heavy all day, and, at
times, almost took on the nature of a STAN
pede. Corn and oats were naturally weaker,
corn decIinig 1G1Bc and oats &@%c. Pro-
visions closed at declines ranging from to
1211c.
The weak feeling in wheat which prevailed
on the curb yesterday was continued in an
aggravated form today. Liverpool cabled
Id lower, and Berlin IL marks lower, and
compared with Mondays closing prices the
start here was at from e to &c decline In
less than an hour the loss had been increased
TO 15sc per bu for May and 1%c for July.
May opened at from 6Sk to 69Ac, and In the
time named went down to 67H667sc; July,
from 68 and 681sc, tumbled to 67Ac. The
bills had evidently given up the struggle to
maintain prices
The incomprehensible character of the stats
teal information was another cause of the
wholesale abandonment Of long wheat which
caused the early decline. Bradstreet's pub
LEGATION yesterday of an increase of 2,65S, 600
Blu of wheat and -four in the visible supply
of the world, during the preceding week
movement had pointed to a considerable de-
crease, took from the bulls the last remnant
OF their faith in the statistics which had
been the basis Of their belief. Apart from
the decline In foreign markets, early news
was not productive of unfavorable matter for
the bulls. The { cago receipts were % cars.
and the quantity inspected out of store 112 900
ou. Minneapolis and Duluth reported this
mornings arrivals at 263 cars, against 3S1
Wednesday bafor
corresponding day of last year. A London
cablegram reported generally unfavorable
weather in Europe. AS regards the home crop.
much uncertainty still prevailed. The reports
of the generally flooded condition of the
Northwest spring wheat country was enough
TO Great uneasiness to say the least with re-
gard to the delayed seeding operations I'D
there, but that like other bulMsh matters
was lost sight of in the commotion attend
ing breaking prices.
Atlantic port clearances of wheat and -four
for two days amounted to the equivalent Of
$4,000 blu, which was light enough to count
in FAVOR OF the bears. Closing cables reported
1urther lowering of prices. AS the shorts
1hslead OF covering on the early weakness
sold more, and again renewed the selling nm
receipt of the continuing depression abroad
prices had further material break, Nav
getting to 65$sc and July to 651k@655ac. about
"ii iiOul lIOHl the close. Inc --latest trad
ing was at 659sc for May and 65hc for July.
Liquidation in wheat extended into corn
and that market suffered more than on anv
DAY for several months. The market held
comparatively firm during the first scramble
In wheat, but when after a temporary lull
the stampede began again corn was dragged
down in the general wreck. Exports were
again large, 1903, 600 bu May opened 1kc
lower at 241sc, sold at 24Ac then went down
10 zS1sQ2SAc, where it closed. Oats were
strictly in the race and finished good
third sympathy with wheat was the mace
Wnlch the market followed, and there were
independent coachers in the shape of nou.da
uoh ana short selling to keep up the rapid gait
on the down grade track The aggregate
business was heavy. May opened a shade
lower at 17q171sc and declined to 161l @16sSc
which was the closing price. Provisions We're
as weak as everything else and for the same
reasons. Selling general by all classes
or commission people, evidently uouidatiop
ana there was not let up to 1t, nor any
support or consequence given the marker
Al the close, May pork was 121hc lower ar
$SGfh; May lard, about 21ac lower at 81. O7Ib
and May ribs about 10c lower at s4221b Esti
mates: Wheat 10 cars; corn. 375 cars oafs
3OO cars; hogs, $4,000 head.
Ihe leading futures ranged as follows: