The St. Louis Republic., 1900-10-27
MARKETS WEAKEN
AND CLOSE LOWER.
NO STRENGTH TO SPECULA.
TIVE MARKETS.
Pit Trading Was Slow. but at the
Same Time All One Way, and
That Was Downward.
Office Republic.

The grain markets failed to come VI 10
the expectations Of traders this morning.
In fact they were n bitter disappointment
IL. more wavs than one. and In particular
as far as values were concerned. The
strength displayed yesterday at the close.
and which was expected to show w in a
more pronounced form to-day. had appar-
entity disappeared when the market opened
UP this morning. and. instead OF a eullish
condition of affairs, the trade was con-
.rcnted by conditions that were otherwise
than bullish. In other words, the whole
situation was entirely opposite to that ofyes-
Ierday, and where there had been strength h
and bulliShness. there were weakness and
depression. with the result that yesterday S
advances were wiped out, and lower values
went on record for the day. Most Of the
Information received this morning was bull
fish. the pressure TO sell wheat being hard
y noticeable. which was considered 10 mean
that the long interest had been pretty much
eliminated. These conditions. however, gave
no strength 10 the market which was bare
ly steady at very slight advance, which
was soon lost. and a much lower range or
values established before the close was
reached. Pit operations this morning were
light, as there were few orders, and room
operators were somewhat undecided as to
what side of the account TO favor
Cables were favorable to the bull inter-
est, Liverpool being reported I'D higher,
and cargoes on passage reported firm at
London. Argentine advices were somewhat
mixed. one authority reporting that the
weather was unsettled. and another that
IL was too wet and unfayorable for the
crops. Shipments from that country con-
tinue small. but the 10000 were lec.ooe bu.
larger than last week and $3.50 bu- less
than a year ago. Receipts locally showed
quite a marked falling off. being 100 bu,
compared with $3.50 bu. on last Friday
and -ovo 6u, one year M ago- the snipinrnSs @ ems
eral run OF news was favorable from bull
viewpoint. il was not SUFFICIENT to stimulate
buying. In other words. speculation was not
Of a character to get a good upward move
the market, which was handicapped by
heavy supplies There were some insect
damage reports heard OF, out they did not
have the effect that they had yesterday;
Receipts at Northwestern markets showed
up We'll, arrivals being S.S cars. against eS1
d week ago and 6iS a year aso.
The opening here for Dec. was uncharged
to Isc better at alssc to .lisc, that option
selling later at il4syg sc. from which there
time sold at .5c to l1;sc. Following TINS
comparatively fair start. there was an all
around weakening Of the markets OF this
country, which extended TO the one here.
and Dec. went OF to lu;sc to .ic. and May
10 75lzc. The late cables were had. Liver
pool going off and Closing "a for the day,
but Continental markets were not so bad
after all, Paris being up fsc to lc, and Buda-
Pesth i+c. while Berlin and Antwerp
showed change. private Hamburg
cable quoted hard winter wheat tsc lower.
Export clearances We're small at 2l9.e09 bu.,
and there was further let-cown here 10
fes4c for Dec. and to i0t4c Tor May Late
fly damage reports Were sprung on the
market, the object being to check the de-
Ginning propensities OF the market They
were backed up in a measure by the Mod
ern Miller, which reported damage in Il
lineis. Missouri and Indiana, though the
conditions prevailing Were favorable: These
advices were not very effective. as the best
the bulls could do was to advance Dec. TO
1lc and May TO 1aa.c bid. AS the close drew
near. and there wss nothing bullish de-
veloped, selling on quite q scale started,
and. as there WAS no demand to speak of.
the market sold off materially, Dec. going
to I0su11c and May to I5c. There was no
rally of Importance from this, though the
c.earances for the week were reported by
Bradstreets as 4.9s2.00 bu-, against 4,4ls,-
Vo bu. year age, and export sales Of "a
carloads were said to have been made al
the seaboard. At the close of the session
Oct. was reported 1c lower at 2ss.c nominal,
Dec sc on at 1elzc asked. and May axQ:sc
lower at 75@nc.
While there was nothing particularly
bearish In sight the local corn market was
by no means in an encouraging condition,
1t being heavy market, even when wheat
was showing strength. The country was
reported as selling little. stilI the receipts
to $1,000 bu. against $3.50 bu. last year
St Louis received $3.50 bu, against $3.50
crate at 1900 bu.. and the days EXPORTS
from the seaboard SQS.ooe bu. Those for
/! shs 1s- week amounted TO S.S6se? bu;, against
year ago. Liverpool opened better at
sd advance. but declined sd. and finally
closed I'D lower for the day. The market
was very dull one, there being no trading
up to the hour of noon. though the offers TO
sell Were at 1sG4c decline, Oct. being Of
fered at 36lsc, Dec. at 3iltc, and May at
354c. and Dec. later being offered as low as
ment speculatively later in the day. about
al that was heard of being an offer to sell
oct at SeG which was &c OF for the day,
lower at 34c asked; year that much off al
&c nominal, and May 1sc lower at 351Ic
sellers
dead one, not trade being made through
out the session. Western market receipts
we're $1,000 bu., against $4,000 bu. last year.
p Louis received 3s,4oo bu-. against 5000
bu. last year. Shipments We're reported at
"iIeo bu., and exports at 500 bu. The
nearest approach to a trade was q bid of
2issc for May. but there was no offer to sell
Oct. closed &c off at 225sc nominal Dec.
unchanged at 22i9c nominal, and May as
quoted above
ON THE cURB-wheat weak. Dec sold
at 7s1zc. and that asked: puts. 70lsgA.o TO
7olsc. calls. 7o7sc to 7Os4Q707sc.
Traders' Gossip.
The Chicago and 'sdo ,arkets will b
in a letter to schultz Nrrt Ter from >Au-
gusta, Mo, the writer says J., ism nies
abundant n the wheat and tH-t they are in
-strude hsa e.sl. from Hamburg tha:
equal to 30 while hard winter ha. gene off
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