The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-08-20
MARKET SUMMARY.
FINANCIAL
september wheat r.

-F-r--, -~entenhar wheat "a
dav came within a very small fraction of
touching the 9Oc mark, but slumped ing!ori-
ously and closed at S1sc decline OF Use
since yesterday. The market was an ex-
tremeiy nervous one, with fluctuations cor
respondingly violent. Bearish crop reports,
foreign seaboard selling and letting go of
considerable holdings by the bull clique were
features in the decline. Corn and oats were
but slightly affected, corn declining 1sc, and
oats about the same. Provisions showed in
dependent firmness, closing unchanged to
71sc higher.
When the wheat market opened the pit was
TANNED with anxious and excited brokers
and traders and the course of prices after
the first plunge gave ground for the belief
that yesterdays sensational advance might
be repeated. more pronounced bearish fee
ing however, ultimately asserted itself. Sep
TENDER wheat, which cloSed yesterday at
SSlac. started today at from SSGSS14c, and
soon dropped to S76sc, and after bobbing be-
tween that figure and SSc for few minutes
it rose in quarter-cent leaps to S9s4c, helped
along by a flood of orders from those who
had previously held aloof. From S9%c the
market slid like a toboggan down we'll
planed runway, till it was brought up with
a splash into the figures between S712 and
Sic. Although S7lac virtually the bottom
of the decline, one $4,000 lot was sold at the
elimination of the descent at SIC. Business
slackened after that, and the price had again
recovered to SS9sc by 80 O'Clock, without
the buying of any great quantity. Liverpool
began the days sensation by a 17sG2Ad ad-
vance and showed sIghter increases later in
the day The news from New York, how
ever was somewhat discouraging, being to
the effect that foreign orders received today
were generally to sell out wheat previously
bought Crop reports, too, were not unan-
imouS as to the damage to spring wheat, the
Price Current in particular being bearisn III
tone. Paris cables showed advances, ranging
from 15s625sc. Chicago received 81 cars,
against 1874 a year ago. Minneapolis and Du-
luth got 1853 carloads, against 243 last year.
Atlantic port clearances were equal in wheat
and flour to 625 900 bu. Those who did not
get thrown out on the plunge to SIC and S712c
about II 80 O'Clock, had another chance to
get S924c that price being again obtainable
about the hour of noon. During the next
hour it went down to SSc, and up to $3.50,
and in fact, did not seem to know where 1t
was at during that time. The trade was not
heavy or general, the majority of the local
scalpers preferring to look on. 1t was current
rumor in the pit near the c-ose that wheat
was settling up with Allen-Grier, which in
dicates that they have parted with consid-
cradle portion Of the wheat they were hold
ing for the party known as the bull synol-
cate. Acting on that belief the crowd jumped
on the market and in very few minutes
hammered it down from around SSc to SIC.
and it closed at Size for September, and
size for December.
Corn was fairly steady, though showing
degree of nervousness at times, on account
of the erratic action of wheat. There was a
greatly improved trade, especially from the
outside. The bull crowd changed, selling
September and buying December to the eX-
tent of about a million bushels, the feature
of the market Crop reports were less IA
vorabIe. and shipping demand was better.
The market sid off toward the end with
wheat. September opened irregular, shade
lower at from 2S3s@2Sa4c 1t ranged between
291sG29Ac and 2S9sc, closing at 2S9s02SAc
Oats were rather quiet, within narrow
range. with the tendency towards slightly
lower prices. AS in corn, the feature was
changing from September to December. There
was some increase in outside trade Local
receipts were 633 cars. September opened IN
changed at 1Sc and ranged between 1Sc and
1724g17Tsc. 1t closed at 177s@1Sc.
In provisions the Cudahys were heavy sell
lers of October lard, presumably in liquidation
OF long line, which was taken by shippers
Pork after an early decline, advanced sharp
ly outside buying. Lard and ribs being
carried along. Most of the advance was lost
later during the last decline in wheat. Hog
receipts showed falling off. At the close
September pork was nc higher at $S.571a /;
September lard, 212c higher at s4.521A, and
September ribs unchanged at $5.07h. Esti-
mated receipts Friday: Wheat &c., corn,
LOIS; oats, GOO cars; hogs. 5000 head.
Tho leading f1itDraS yo1rad &c follous.