The Saint Paul globe., 1897-09-25
MARKET SUMMARY.
FINANCIAL

CHICAGO. Sept 24.-Wheat averaged higher
today and closed at a quarter-cent advance
for the December future. Local feeling was
bearish but there was enough encouragement
to BUYERS in the way of bullsh foreign news
to keep the market little above yester-
days prices. Other markets were dull and
inclined to weakness. provisions having an
other touch of the yellow fever scare. Corn
and oats were closed shade lower, Wnlle
provisions showed 712@15c decline, at the
close.
In wheat, prices around the opening, were
controlled entirely by the action of the Liver
pool market. That market started at %c
decline. but before the opening here had not
only recovered this, but added %d to yes
terady's closing price. The reason given
for Lverpools strength was a report Oh
damage to the Argentine crop by frost That
was considered unlikely, and another private
message from Liverpool said the report was
without foundation. The market here, how
ever took sufficient notice of the report to
open December wheat from 92% to 92Bc,
the closing price yesterday having been 9ZAW
92ssc The advance encouraged sellers and
a quick reaction to 9178c followed. 1t was
stated on the floor that a special session
of the British parliament was being talked
of to consider means of relief for the sufferers
The bringing of this feature of the worlds
food situation before traders undoubtedly was
influential in the advance to 99c, which fol-
lowed the decline to 91Bc. One decidedly
weakening factor was the continued heavy
local and Northwest receipts Chicago re-
ceived 229 cars, % of them contract quality.
The quantity inspected out of store was only
$1,000 bushels Minneapolis and Duluth re-
ceived ,001 cars, against lob week ago, and
1872 the corresponding week of the year pre-
vious.
The bull clique was left alone in a great
measure to do all the fighting of the bear
ishly inclined section of the operators. Most
of the heavy traders expressed themselves as
unwilling to buy during the continuance of
such heavy Northwest receipts. New York
reported that foreigners were moderate sell
ers of futures early in the session. A pri-
vate cablegram from Berlin read: Wheat
declining; Danubian states and Russia Of
fering freely" The Atlantic port clearances
of wheat and flour were 460, 900 bu. Primary
market receipts amounted to 1,217, 500 bu,
compared with ,S47 bu, for the CORES
ponding day of last year. The closing prices
abroad showed the following changes, COM
pared with yesterdays final quotations: L;v-
erpool, No. 2 American red and No. 1 north
ern spring Id lower; futures from sd to sd
higher Paris &c lower for September ana Zuc
lower for later futures. After the advance
to 93c the market reacted to 9212c. slow
advance to 927sc followed, but the weakness
of closing cables caused another reaction,
the price of December dropping back to
g212@925sc by closing time.
Trade in corn was dull, and the small
amount of business made a rather heavy
market. The start strong in sympathy
with the opening jump of wheat. 1t followed
that market on its decline, and for the re-
Inainder of the session ruled very quiet and
fiuctuated within a narrow range Gables
were unchanged to I'D higher. Elevator peo-
ceipts 572 cars. Cash demand was reported
poor, December ranged between AQ3O7st
and 30BQ3012c, closing a shade lower at
309sc bid. Oats huctuated sympathetically
with wheat and corn. Elevator people sold
moderately. The cash department was easy
with sales &c lower. The market was very
dull, during a greater portion of the session
and fluctuations were narrow and infrequent
Receipts were 342 cars. Clearances were 1885,
coo bu. December ranged from 207sQ205sc
closing a shade lower at 205s@20Ac.
news and liquidation of October contracts
for ribs especially were the principal sell
ing features. The market apparently lacked
short interest and the market showed alb
solutely no buoyancy, closing at the bottom
of a rather severe decline At the close
December pork was 1212c lower, at $50; De-
cember lard 15c lower at $4.45GD4.471A, anC
December ribs, 712c lower, at $4421a. October
ribs declined 15c. Estimated receipts Satur
day. Wheat, 275; corn, 5S5; oats, 425 cars
hogs, 1900 head
NH