The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-03-09
WAR SCARE OVER
WHEAT LOST CENT ON THE
MORE PACIFIC NEWS FROM
CRETE.
CORN SURPRISINGLY STRONG.
WHILE WHEAT WAS
FALLING.
STATISTICAL ITEMS ALL BULLIsH.
Worlds Shipments for the Week
Small and the Northwest Re-
c2ipts Light.

CHICAGO, March S.-Wheat was almost
entirely dominated by the more pacific
European political news and closed at a lie
decline. Small worlds shipments were again
Indicated, but traders paid little attention
to the fact Corn was surprisingly strong
most of the session, but closed at unchanged
figures. Oats closed shade lower, and pro-
visions closed at declines ranging from 212@
7!zc
Wheat opened weak. the first transactions
in May being at from 755sG75ssc, or from %
@9sc below the closing price Saturday. In
The face of the confident predictions that
war, involving all Europe in its bloody folds,
was inevitable the aspect of the affairs
this morning was surprisingly peaceful. Eng
lish consols were up 7-16 of l per cent since
Saturday, and that was the chief reason for
the decline with which wheat started. Be
fore the session had progressed very far
there was an unexpected and quite material
rise in corn which caused wheat to respond
sympathetically, May getting up to 1910
zee, or to within 1Sc of Saturdays closing
value. That was the highest point it
touched, and then commenced a decline
which by 1l15 O'Clock had reduced he price
to 74Bc.
Statistically the news was quite as bullish
as any one had expected; the decrease in
the amount on ocean passage was ], 800 900 bu,
and the visible supply decreased over 1,000-
eco gu. The worlds shipments last week
were again sensationally light, only 2,811 900
bu, against 1885 900 blu a week ago and
6,671 coo bu a wear ago, The English Visible
supply decreased 773, 900 blu last week, Min
neapolis and Duluth receipts were only 254
cars, against 800 week ago, and 416 last
year. The falling off was attributed to the
severe storms in the Northwest. To the
early ADVANCE of 7-16 in consols was added
further rise Of slice later in the forenoon
making the days gain l lie per cent The
latter came about the same time as the Tho
man report Of wheat in farmers hands and
was very bearish. 1t was the combination
of Thoman and European peace but chiefly
the latter, that started the price down after
It's hrst rally, and kept it dragging to the
END. May got down to 74%c about half an
hour from the close, but the taking of 147 900
Du or wheat here for shipment, with 25 boat
loads at New York, for export, caused a re-
acuo1 TO 15@75Bc, at which the market
Corn started with rush making 1hc
advance, while wheat was hurrying in the
6pposite direction. Shorts were active buy
ers -on--.Ae poor inspection, and the unfavor-
able weather, and the market was very lively
ior time The continued weakness of wheat
mad Its effect ultimately, and all the adj
vance was lost Clearances were light 1885,
000 blu. May opened at 241Ac, advanced to
261sc and reacted to 245sc, where it closed
There was good lively trade in oats, the
market jogging along after corn. Early in
me oay there was a good short demand, and
Lhis, coupled with sympathy with corn caused
good advance. Trade dropped off later in
the day, and prices followed on the down
ward path, closing at a slight decline May
opened shade lower at 173sQ1714c, ad-
vanced to 1Sc, and reacted to 173s@171bc.
where it closed Provisions were fairly act
I've. Prices went up sharply after sub
stanuaIly unchanged opening, on the buying
of a good line of pork With this out Of the
way, prices declined as fast as they had ad-
vanced. The market was quiet, but steady
Tor the rest of the session. At the close. Nav
lard, &c lower at $415 and May ribs about
DC lower at $40. Estimates: Wheat. 40
20 600 head. -e''
The leading futures ranged as follows: