The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-03-31
PIT FAVORED THE SHORT
SIDE.
NO. TRUST PUT IN FIGURES.
TRADERS DISGUSTED BY THE DIFF
FERENT VIEWS OF THE CROP
EXPERTS.
SHARP LOSS FOR THE MAY OPTION
Closing Price Showed a Net Decline
of a Cent and a Half-COrn
Comparatively Firm.

CHICAGO, March 3O-Wheat was very weak
all through today's session, and closed at a
full l1kc decline. The weakness at Liverpool
ard heavy Northwest receipts were the fac
tors in the decline. Corn, oats and provisions
were not affected by the weakness of wheat.
Corn and oats closed shade lower and pro-
visions about 212c higher.
In wheat everything seemed to be against
the bulls at the opening. May, which closed
yesterday at 731sc, opened with sellers at
from 72s4c down to 72$sc; not many at the
latter figures Just then, but plenty of them
at 721ac, which became the regular trading
price for few minutes. In about an hour
and half from the start the price was down
to 134c The Liverpool quotations before this
market opened were 12d lower than at the
close yesterday. Minneapolis and Duluth re-
ceipts were ne cars. compared with 41O
Tuesday a week ago, and 44S the correspond
ing day of last year. The Thoman report
differed radically from Shows report, thus
confirming what had been rumored about it
yesterday. Thoman gives the condition mate
rally higher than a year ago, with prom
Use of 359, 900 900 blu at the harvest, while
Snow gives the condition lower-with one ex-
ception-than known before. This radical
difference in the judgment of supposedly
trained experts evidently Disguised the trade
with figures, and little attention was paid to
them. The figures on the Northwest receipts
were very depressing. 1t was understood
that New York operators had a good many
selling orders here, and that they were being
pressed on the market. Exhausted margins
and stop loss orders also played a conspic-
uOus part in bringing about the break. One
of the severest blows dealt the bulls was a
late private cablegram quoting another I'D
decline at Liverpool. Bradstreet's report on
the worlds visible gave the decrease for the
week at l ,951 coo Blu, whereas $500 COO blu or
more had been expected. There was a rush
to sell upon that information, and May,
which had recovered to 72c, tumbled instantly
to 7174c for the second time. 1t was found,
however, that the 1951, 900 blu decrease ap-
piled only to stocks in this country east of
the Rockies the changes for Europe and on
ocean passage not being forthcoming. The
price recovered tri1e on that, but the bears
were in too thorough control of the market
for any kind of bull news to have any eff
feet and during the last few minutes renewed
liquidation set in. May, after touhcng 711Ac
closed weak at 711aO715sc.
Corn was remarkably firm, considering the
weakness of wheat. Fluctuations were ex-
tremely light, however, and shorts were the
best buyers. Liverpool came higher; tomor-
rows receipts were expected to be light, and
exports were large, BOD, 900 blu, all of which
made a steady market. May opened a shade
lower at 2424 G24Bc, and did not get on either
side of those figures all day. The closing
quotation 24$4 G247sc.
Oats were extremely dull and uninterest ting
There was no especially influential news, and
the tendency was generally easier prices The
market had some support by people who put
out short lines yesterday. The visible supply
decreased 81, coo blu, seaboard clearances were
$4,000 blu. May opened unchanged at 17Ac
bid. Provisions were strengthened by the re-
celptS OF hogs, which were even smaller than
small estimate. wa
with buying ribs at the opening, but specu-
lation as rule very quiet. The opening
was at sight advance, which was main
tanned all day. At the close May pork was a
shade higher at $3.50; May lard, 214c higher,
at 4.25, and May ribs about sc higher. at
$46212GD4.65. Estimated receipts Wednesday:
Wheat, 20 cars corn, 107 cars; oats, 118 cars;
hogs, "a, COO head.
The leading futures ranged as follows: