The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-04-12


CHICAGO, April 11.-Wheat today sold off
I've, largely on fine weather and enormous
worlds shipments. Closing prices, however
showed decline of but A@7sc, sensational
crop damage reports from California relev-
ing the pressure late in the day. The presi-
dents message was not factor, the con-
tents not being generally known until the
trade for the day was at an end. Corn,
oats and provisions were all easier and left
of at small declines from Saturdays final
prices.
weak. July starting at from sac to sac, COM
pared with Saturdays closing price of S49s
QS4Ac. Several influences combined to bring
about the decline. Advces from Washington
early were of a more pacific character and
as a good deal of buying has been done Of
late on belief that impending hostlities
responsible for less unloading.
The weather West was very favorable for
were bearish. The government crop report
was expected to show condition of 81 against
SIS last year, but uncertainty in regard to
this and the fact that the foreign markets
were still closed had a tendency to restrict
trade all day.
Small Northwest receipts were apparently
overlooked. Minneapolis and Duluth re-
ported 271 cars, against 357 last week and
662 a year ago. Chicago receipts were SO
cars. The addition to contract stocks was
large. Besides receipts of Al cars Of this
grade from regular sources, % cars and 14,GO0
bu were received from mixing houses, and
a cargo of 70.175 blu by lakes, a total of about
amounting to 10,3760G0 bu.
Licuidations. which started at the open
ing, was kept up without intermtss1on for
some time, the price finally dropping to SS1ac:
This was below put prices, and slight
rally was caused by buying by holders of
these privileges, July reaching to S39s@S3&4c
This show of strength lasted but short
time. The visible which expected to
show decrease of about million blu, proved
a severe disappointment to the bulls, the de-
ket quickly sold off again on this announce
ment and the lowest prices of the day We're
recorded July getting down to S31s@S3Ac.
The market then steaded somewhat on
covering by shorts, but did not rally much
until after the noon hour, when the great
cidedly sensational reports as to the wheat
condition in California, put a different COM
plexion things and caused the best buy
Ing of the day, some really important short
lines being covered. The California reports
were the worst so far received, hot norther
prevailing. with advance at 4 1-5c at
San Francisco. During the late hour of trad
ing the market showed a good deal OF firm
ness. The July price finally advanced to
SS7sc and closed at that figure.
Corn was very weak early When the rally
In wheat brought buyers in the market prices
rallied to the best point of the day. May
ranged from 29a4 @292sc and closed 1s@Ac
lower at 293s @29Ac. Oats in a general way
sympathized with wheat and corn. May ranged
from 259sG25s4c to 252sc, and closed a shade
lower at 255sc.
Business in provisions was light and mostly
of a scalping nature. The market closed
steady May pork nc lower at $3.50; May
lard PIC lower at s5.l71k, and May ribs 21ac
lower at $5.172.
Estimated receipts Tuesday: Wheat, 106
cars; corn, 800 cars oats, 800 cars; hogs, e.
900 head
The leading futures ranged as follows: