The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-01-13
MARKET SUMMARY.
FINANCIAL


CHICAGO Jan 12-Wheat today lost all
the advance it acquired yesterday and closed
of 1a055c decline The market received
some support from the Letter interests, put
weak cables and general apathy of traders
resulted in a decline in spite OF this buying.
Corn dropped HG%sc in sympathy. Oats closed
a shade lower Provisions were the only
strong market and advanced 5@1Gc.
Opening prices for wheat showed slight
decline May starting at 9O24 G907sc, as com
pared with yesterdays close OF 9lc lhls
was because Liverpool showed very small
advance in response to the gain here yester-
day and Paris opened weak and lower Inc
Northwestern receipts were again too heavy
to be a comfort to bulls and small receipts
were the only circumstance that they could
claim in their favor. Trading was restricted
bv the general bearishness Of the speculative
crowd which prevented them from buying,
and their timfdity at the same time Of being
caught short under the well-known threat
ening local conditions that now exist. For
a short time after the opening the market
did show some strength Brokers for the
Letter interests were fair buyers at 907sc,
and their example in this respect was fol-
lowed by some of the small fry, prices as
a result advancing to 91Ac. Rumors that
the French duty on grain was about to be
opening. and helped in the advance. Denials
soon became so unanimous, however, that the
crowd dropped the tariff reduction a motive
for the decline at Paris, and the market here
eased off from that time Chicago received
Is cars Minneapolis and Duluth received 967
cars against 353 on the same day Of the week
before, and 2l3 the corresponding day of last
year. The receipts at Western primary mar
kets were 400 eco Blu, against 100000 blu the
corresponding day Of the year before. Liver
pool advance was only I'D per GENITAL, and
Paris opened from centimes to Is centimes
lower. Beerbohm cabled that Argentine wheat
sold at 33s Sd, or the equivalent of $1.0GB
and that cargoes of that wheat were being
freely offered to arrive. On the other hand
the Minneapolis dispatches reiterated their
constant theme of coming scarcity in that
region. The export clearances of wheat and
flour from Atlantic ports amounted to 49,
900 blu. Closing cables brought lower quota
lions from continental markets. while Liv-
erpool closed about Ad lower for next crop
futures, September showing I'D advance.
Paris quoted flour for this months delivery
IS centimes lower and for March-May delV-
cry 10 centimes higher; wheat, 5 centimes
lower for both immediate and remote deliv-
cries; Antwerp, . centimes lower for Amer
lean red, and 1919 confines lower for Walla
Walla. The price of May fluctuated between
903sc and 91c for the greater part of the ses-
I l u
the last u minutes of the session support al
most entirely disappeared, and operators who
had become long" on the early French ru-
mors had considerable difficulty in unload
ing. May declined quite rapidly, in conse-
quence, and was quoted at 902sQ901ac at the
close
Corn was very quiet. The market was easy
at the opening, with wheat. 1t turned firm
on the prospects of cold wave, but turned
easy again as wheat declined, and showed
weakness for the rest of the session Scalp
did the principal buying. Shorts who
covered yesterday did the selling today. May
ranged from 298s to 29c and closed A0sc
lower at 29q291sc. The market for oats was
slow. Some firmness was shown at the
opening under fairly good buying by commits
sion houses and on the good cash demand
but i9ter prices fell off with wheat and corn.
May ranged from 23B to 235sc, and closed a
shade lower at 239s@2334c.
Provisions were strong throughout Much
lighter receipts of hogs than expected started
the market at small advances all around
Some reaction followed, but at the conces-
sions there were plenty of buyers and g
second and more material advance quickly
ensued The market was we'll supported tc
the end. May pork closed 121ac higher al
$3.50 May lard &c higher, and May ribs 1Ot
higher. Estimates: Wheat, 81 cars; corn Al
cars; oats, $50 cars; hogs, $4,000 head.
The leading futures ranged as follows: