The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-11-02
LARGE INCREASE IN THE VISIBLE
SUPPLY WAS THE PRIME
CAUSE
AN EARLY ADVANCE CHECKED
Sudden Rise in Liverpool Gave the
Market a Decidedly BulIish Tone
at the Opening-A Long Inter
val of Dizziness Followed, and
Then Came the DecIine-Corn
Also started Higher, but Receded.
Previous

CHICAGO, Nov IA large increase in
the visible supply of wheat as reported by
Bradstreet's today caused sharp decline
in prices near the end of the session. After
early advance on the sudden rise at Liver
pool, December closed sc lower. Corn left
off at decline of AQ$sc. Oats are unchanged.
Pork lost l5c. LARD 71sc and ribs 5@71Ac
Liverpool started at an advance of Id for
spot wheat and Pad for futures, while the
next quotation for December showed a rise
of $50 and the closing cable reduced the last
previous quotation from Id to I'D. The effect
of the bullish irregularfty abroad upon specu-
latiVe sentiment here was to start December
wheat at about last nights price for calls.
Business, however, was by no means animal
ed and the opening advance was followed by
a long interval OF dullness, with the tend
ency toward a slight downward reaction.
The sudden rally at Liverpool was said to be
due TO small stocks and the unsettled political
aspect. New York sent bullish dispatches,
one of which said that the continent accepted
Wheat offerings last night Notwithstanding
the holiday prevailing. Shipping houses here
also reported heavy acceptances from the
United Kingdom. London threw cold water
on the bullish news, however, by quoting
better inquiry for cargoes on passage, but
at prices 3uAd lower. The clearances OF
wheat and Hour from Atlantic and gulf ports
were again enormous, amounting to 100000
bu Primary Western market receipts all
told were 1,S5S,O00 blu, against 1,267 0O0 Blu
the corresponding day last year. Chicago re-
ceipts were as cars against 217 for the same
day year ago, and the Northwest received
Asa-O CdIlOduS as COIupdIGu Will Law JuS
similar day a week ago, and 1,04S the year
before Bradstreet's report made wheat
stocks east Of the Rocky mountains show g.,
3SS,000 blu increase. The amount ahoat for
and in Europe showed an increase of 1890
bu making a total of 6,2S2, 900 blu, against
5,210,G00 Blu increase the corresponding week
of last year. Owing to the Bradstreet report,
and an absence of anything more warlike
from Europe than had already been received
the market slumped off, closing weak at the
lowest price of the day. December opened
1b6USac higher at 61lL 6D673Sc held steady
67$sc, declined to 671sc, rose to G7Ac, then
dropeed to 669sc. the closing figure.
Stronger cables end decrease In stocks at
Liverpool together with the up-turn in wheat
started corn higher. The early strength gave
place to a much easier feeling however, on
account of the slackness of the shipping de-
mand. The declining tendency of wheat in
the last half hour had a depressing effect
and caused selling of corn, which left off at
the lowest pr ce of the session. Receipts
were sol cars, December began 1sc higher at
32ssQ322zc, held steady at S2Ac then declined
quickly to 32Ac buyers the closing figure.
An excellent cash demand developed con-
siderable strength in oats. There was
large business transacted with heavy buying
by professionals. Receipts were al cars.
May started 1sc up at 24AG24sc, declined
to 245sc, advanced to 24%@G5c, then reacted to
249sQ24s4c at the close.
Provisions ruled slow and easy. Receipts
of hogs were large and prices at the yards
were weak. The demand was limited Mod
eraet selling Of lard by houses with English
Shipments were large 4,S57, coo pounds Of
meats and 423S, 600 pounds of lard. January
pork opened 5Gu715c lower at SS97126D9, and
declined to $3.50 buyers, the closing price.
January lard began a shade lower at $4.921ac
and declined to 81 S712, at the close. January
ribs started 213c lower, declined to S45312
and closed at $4.5719@4.60 buyers.
Estimated receipts for Wednesday: Wheat
$50 cars; corn, $40; oats, 24O; hogs, 25,0O0
head.
The leading futures ranged as follows: