The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-01-22
EASY FOR SCALpERS
DULLNESS IN THE WHEAT PIT
GAVE THE BEARS A
CHANCE.
A NET LOSS OF FIVE-EIGHTHS.
FIRST LIVERPOOL CABLES CAME
EASIER AND INDUCED AN
EARLY DECLINE
A NET LOSS OF FIVE-EIGHTHS.
ST. LOUIS CASH DEMAND DENIED.
Free Liquidation Followed, as the
Traders Had Set Great Store
by the Report.

CHICAGO, Jan. 21.-The dulness which
prevailed in the wheat market today rem
dared it easy to depress prices Scalpers took
advantage Of that fact, and the May option
closed at a sc decline. Gables were weak,
and some doubt was expressed as to the
truth of tie big cash business at St. Louis.
Other markets were also weak corn decln-
ing &c. cats about sc and provisions 2l4@
&c. Wheat started weak at from 1889 to
79&ac for May. IS compared with S01sQS0Ac
yesterday afternoon. It was kept the run
until il got 10 Sc. Which it reached in a
very few minutes from the opening. A
weakening factor was the Liverpool cable re-
ported mat market a shade easier, nOtwith-
standing the advance OF nearly &c here the
day before. This indifeIe nce among English
buyers was discour3ging TO holders and as a
good deal Of long wheat carried over
last night, in the expectation that Liverpool
would come higher when il failed to do 50,
there was free liquidation ana lower prices.
Another discouragjng piece Of news was the
denial by ST. Louis CT the cash business
there. which was given so much Importance
yesterday Some adyices from there said that
instead Of 100000 bu having been bought in
two days, the transactions were really 10000
IN three days There was another dispatch,
however, which not only affirmed yesterdays
reported business but said that $4,000 blu
more had been added this morning. But
the fact that the ST. Louis market was nearly
$4c lower and that some Of the st. Louis
longs seemed to be HQuidating here caused
the trade to distrust the reported sales there
Chicago received % carloads, against los
year ago. Minneapolis and Duluth received
252 cars against 212 a week ago, and 463 on
the corresponding day of last year. Atlantic
port exports We're only equal IN wheat and
flour to Ill 600 blu. Cash sales of wheat here
comprised $4,000 No. spring for export; 3d.
600 bu No. l northern for prompt rail ship
ment to New York; 900 bu chiefly No.
spring, and 10 900 blu various grades. New
York reported fifteen boatloads sold for ex-
port. The price recovered tc 1850, after the
decline to 1880, but short sellers got after
it again, and kept the market under their
control for the rest Of the session. May
finally declined to 1880, but recovered some
what and closed at 79A8G7912c.
Corn dull and weak and sold off &c. The
weakness in wheat was the depressing factor,
while the weather was supposed to favor large
receipts and better inspection. This brought
out considerable liquidation and short selling.
Atlantic port exports were again liberal,
amounting to 604 900 bu; May opened 1sc
lower, at 2414c, declined to 24c and closed
easy at 241241sc. fairly good Scalping
business was done in oats. The feeling was
weak, and prices were lower, though con
fined to G narrow range. sympathy with
wheat and corn to a great extent caused
the weakness. May opened a shade lower
at 1Sc declined to 1734c and recovered to
1ttSC WH6It IL CtOSeU GIONISIOuS were uTLu
at the start and quite a brisk trade was
done for hour or So Packers supplied
the demand on some declines which followed;
other packers, who had been short, bought
then and the market ruled dull, but firm, at
the decline, during the remainder of the
session. At the close May pork was sc
lower at $7971a; May lard about 212c lower
at $4.G71a, and May ribs 21ac lower at $4.10@
APP. Estimated receipts for Friday: Wheat
o cars; corn, $40 cars; oats 215 cars; hogs,
60 600 liead
The leading futures ranged as follows: