The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-10-21
ANOTHER DECLINE
BULLS MAKE NO GAINS.
SPECULATION ON THE SANE
LINES AS LAST WEEK.
Wheat, in Particular, Showed
Weakness and Sold Off Sharply.
but Corn Held Up Well.
Office Republic.
SATURDAY nrfnFEr 20 7. y

Office Republic.
Saturday. Oct0t-r -. 1870.
There was very iitJlr tina, was new in
the speculative grain situation Gur.n. the
past week. Taken IN the aggregate. the
markets have not dom as well. from, q bull
standpoint. rs they dil the week beca:e.
and those WHO looked forward to a sub
staniiai reaction and recovery IN pries
We're greatly disa; pointed and discouraged
long ere the week was over. From start
10 finish almost the uf,iart0ne has be.n
one of weakness. will: hardly a single d.
velcprlent 70 encoura. e the trade. LiqgidI-
ton has been freely INDUCED in. and hard
ly a day has passed without adding To tie
prevailing weakness and 1uIlness that has
been the chief feature OF the speculative
situation az this point for soma c"nsid.rl-
BILE time past. The news was almost wholly
one way There has been little developed
To give bulls confidence. and the greater
part of the time the tendency Of Prices has
been almost al! one way. Both bulls and
bears have shown caution IN ih.!r ventures.
and the daily pit Transactions On 'C1ar.&-
were no; what could b- called heavy ty
any means. while. as far as exciting Ct-
Velopments were concerned. there We're
none. All tn. markets were affected pretty
much alike. and but seldom exhibited a re-
deemins feature during the week. and all
closed with more or less of a decline.
-
During the past SIX days the forces gov
efning TIE wheat market at this point were
OF a somewhat conflicting nature. and
therefore the movement Of prices was quite
irregular. though IL must be said that the
Inore important net changes each day
showed losses instead Of gains. and the final
leures Of the week Were NJ quite 4 heavy
decline as cornrared with those current last
Saturday. There was very little that WIS
or ar enEDlTlRfnV ma II r.r a hull : ~.
point al any time during the week. and
those who anticipated a good reaction from
the depressed and lower conditions that
have prevailed for so long were doomed L.
disappointment. as the events. in SO far as
affecting values favorably We're concerned.
wer- Just the opposite. However, tser-
Were a few conditions that served in II
measure 10 check bearish demonstrations
at times during The week and prevented a
more serious decline in prices than actually
occurred. Speculation throughout the week
was slack and draGgy. ard also almost
wholly of a professional character. and at
intervals, not so very far apart, tell into =
condition OF actual stagnar!On. Liquidation.
which was carried on So freely last week,
WIS again one of the chief features. the
bulls showing 4 noticeable lack OF conf
dence, and the least thing of a heariSh na-
ture was sufficient 10 cause them TO let -
cf their holdings. Weakness was shown
from The outset. the character Of the EsWs
and the conditions likely to have an infiu-
ence upon the market being ciscOurasin9ly
had. and the Result was that the longs COM
menced letting go Of their holdings early
There was little that was encouraging 10
ie gotten out of the cables at any time. and
the cash situation was equally a. bad, Their
being no foreign buying Of consequence IN
Ill late. when business on their account
picked ~ some. The outward movement,
however. was only fair at 3.I|s.tei bu,. or
5r.co bu. smaller than the week before. and
$1,000 bu. below those Of a year ago. Az
gentine advices cut considerable of a figure
in this market. but were conflicting. one
Gay the crop conditions being reported ex-
cellent. and again there. would re .advices
IS =ar.arrS lntDaya Nhils. Tho SNTDvn1n-E
from there for the week previous were only
2s9.Ha br.
Statistical advices were largely OF a bear
ish nature. In the first place The worlds
/! shipments were said 10 be over l,lti.t'V bu-
in excess OF those of last week. being re-
ported at $500 bn. Russian and Danu-
bian ports sending out 3.Jp.vp bu-. and IN
creasing. the amount afoat ltso,"o OF.
| $4,000 bu. Bradstreet's reported that the
| increase last week in the worlds visible
| was 4.273.c" bu, which was less tnan the
-, increase a year ago. but the increase East
I of the Rockies was 3cp.U9 bu- more than
the regular visible supply: First and fore
most among the few buliish factors, was
| the movement 10 market from the country
The arrivals at winter wheat points held up
very well. but did not show any material
| increase. while the receipts at Northwest
ern markets were small and generally be-
low those Of a year ago. a circumstance
that helped considerably to maintain the
market. Nevertheless the selling continued.
and although there was g shade better feel
ing to-day and an advance OF isQi4c TO lac
in prices the net losses for the week We're
discouragingly large. Oct. closing at 1i.c
decline at &c nominal. Dec. showing a loss
of sc and closing at I3isc sellers and May
Of lglls at ".8"ssc buyers
Although the local corn market held up
better and did not undergo the severe re
verses that wheat did. IT was far from
being In an encouraging condition from a
bull standpoint. and in many ways proved
"A disappointment To the trade and to its
friends. There was no great interes, shown
and no great amount OF speculation shown
in this grain. and during most of the Week
pit operations Were small and without
showed n backwardness in responding 10
hull!sh conditions. and as there Were no
new developments OF Importance a slow
and uniHteresting ondition O. affairs pre-
vailed throughout the Week.
Again corn largely sympathized with
wheat. and there being few sustaining in
iiue 4 il followed the downward course
of that grain, though not enough to bring
about much of any change from last Sat
urday, the close to-day sc to a9i4c better
than yesterday. and for the week IN
changed for Dec. and year. which closed at
aisc and Siisc respectively, While Oct. was
lac lower at &c sellers. and May Llsc bet
ter at :9iefissc BID. The weather was IL
ported fine all through the corn belS during
the entire week ana the gathering OF the
crop made rapid progress. The receipts
were not large. considering that the
weather was such rs 10 enable farmers 10
nove corn without difficulty. bur shipments
were large. including exports from the sed-
beard. which amounted to 2.s6.J9 bu.
against 2-S6.vS bu. last week and 5.659.c.l
bu- a year ago. The cash market was weak
and lower There was an increase in the
visible supply of l.s24.0Sp bu.. compared with
.."sl go bu. asst year. and the amount af.Cdt
fell off $780, bu., while, according 10 Brad
streets figures there was an increase in the
available last week of 2N-l as, I'm whore