The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-01-20
BEARS TOOK A FALL
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CHICAGO. Jan 19.-Heavy domestic re-
ceipts weak foreign markets, small soaooaro
cicsrancss and poor shipping demand hnaiy
wen the struggle with bullish sentiment IN
wheat today and May, after an advance VI
SIC c!osed laG3sc lower. Corn and oats leit
on = shade higher. Pc K, lard ana tbs are
practically unchanged. ,a,.
Cnfavol able news from abroad gave wheat
a wax start. The Liverpool market pau
lso at;eEt On to the advance here yesterday,
tpt on the contrary was I'D lower ara the
cortinental markets also tended downwaru'
w lie all advices continued TO SPEAK We! en-
coura singly of the outlook for larss !;eic
in A.gen,.na and ILda. May opened s0Ac
lower. a. 7e5. @70%lc and although the crowd
were inclined 10 buy, their enthusiasm WAS Mas
checked by the execution OF heavy seii,he
oiders Tor futures from the United Kingdom
in the haGds of commission men. Inc North
western receipts were quite mode a.e, row
ever and that in the minds OF local operators
Part ally Offset the bearish news from abroad
Wall street stocks and cotton were both
strong 10 begin wiki. AID that was CONSIDERED
another and sill more important reason 10Y
disresarding the depressing aspect OF the
European news. the consequence being that
tbs weakness az the opening was In snort
time replaced by a spaSm OF sentimental
strength and May wheat rose quickly to nag.
Chicago received IN ears. OF which IA grad
ed cont act. Minneapolis and Duluth got 500
carloads. against 4l2 for the same day last
week and 3O7 q year age. The aggregate re-
cepts at West rn primary markets was 6i2,o0
eu, whereas last year S2l eco bu were re-
celNeQ. ClSaranceS or wheat ana HOur LOT Tue
day from Atlantic pots were equal to 410,ot0
bu or about half what they were yesterday,
and only about one-third as much as on many
recent occasions.
New York reported 40 boatioads wheat
worked for export at an carly period of the
session and of the many small successes
OF the bulls in the days market followed that
announcement. Sentiment in favor of higher
prices, however, had about exhausted itself
an hour or so from the clvse when it was
found that there was no demand for spot
wheat at Size bu below the speculative price
OF May. Near the end early purchasers be-
came sellers and May began to sag slowly.
finally working down TO 7012GI0Asc, at which
il closed.
Corn met with buying of character which
led the crowd to believe that p ointment par
ties were becoming interested. The strength
in New York stocks tnded to awaken specu-
lation and as there very little selling
pressure early, prices advanced sharply. Re-
ceipts were 400 cars and arrivals at Weste n
primary markets were very large. while the
slipping demand had dropped of entirely.
This had a depressing effect as the session
advanced and as soon as wheat began to de-
cline the demand in corn dropped Oh and the
lowe, at 364t dS6zsc, advanced to 37Ac, then
reacted 10 367sG97 buyers at the close.
Oats followed corn closely. being influenced
by the same rules which governed the lead
e. Trade was active and almost all the
cent sellers turned buyers. but in the end
outside selling orders predominated and the
market weakened az the those. Receipts, l7S
cars. May opned a shade lower, at 271ec;
sold at 2IssG27l2c rose to 273sc then de-
clined to 279sc the closing figure.
Higher prices for hogs lack of offerings and
the stead:ness of corn held provisions firm at
at SlOl212. The range in lard and ribs was
a small advance. May pork opened 212c low
er. at SOLO. advanced to s10.171s and closed
very narrow.
cars: corn. 400: oats, 200; hogs, 5000.
The leading futures ranged as follows: