The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-07-19
ANOTHER LET-DGWN-
MARKETS CLOSE LOWER.
WHEAT TRIED HARD To RE
ACT. MAKING GAINS.
Corn Was Heavy and Week All
Day, and Recorded Another
Sharp Decline in Prices.

s-o-fsr had record was made 10y the gram
markets Of this country today, The '''sV
showing very conciusiysly that the GOWN
ward trend II values has not YET iIH ''s
course. Taken IN the aggregate, there was
little or no Improvement 10 be w!'A's7''' III
the local speculative situation over '-e CON
d,tiors that have prevailed throughout '"e
,,resa,,. week. Wheat, II IS true. made an
r,b.r effort to get out OF IFS weakness ana
dullncsa, and for time greatly eN1''i
a-ed its friends by its actions. bur II soon
fell back. and. like all other grams S'VS,'
AT a sharp decline FOR the day. Much 81 'he
,Inls to-day the pit trading was e>S7e'-
iuciy Of light volume. and the unIot'"i'%
one Of weakness In this respect the si'"-
alton, IS a whole. was an index OF '"e
speculative conditions and the temper w
tt.drrs which Is one OF weakness ana uh-
certainty Even professional traders "e'"
hardly in evidence 1T times, and only snsh
dealings Characterized the days rroceei-
irzs in the pit on change Inc pressure
~ sell exceeded that 20 buy. with tho re-
suit that early gains were completely "li,eH
ont In short order. and tho day closed with
losses in all cereals, and particularly IN
wheat; corn, however, being very e'o-
second.
Wheat To-day made another effort % get
AWAY From the weak and depressing infii-
cnces that have SO long overshacoWVd spec
ulation IN ;hIs grain and have eeen me
cl.ief chara ctcrist!cs the past week o. teI
DAYS. For awhile this mpFinNs T. iOpht
very much as though success Hou!a cio"A
the efforts o: the friends Of this cereal
but before the day Was hait oNer tie9 Mesv
up against Il once more. a:Id the sHbHt
gains disspTeared, the early strength Vas
succeeded by decided weakness, ana the
final figures showed an ali-around loss Tor
IN. day OF over &c as compared with yes
teryiay's close. There was some specuia'Ne
stir in this market to-day, and from q s.ec-
ulative point Of view the long-l9ohya.ior !.
action seemed 10 have arrived, but as II
turned out, the ma ket Was no more OF Il
success in this respect than II has been
during the present week The buns We're
greatly encouraged by tie way TINS inaiket
started Off some decidedly strengthening
sdyices being received from abroad. Whefs
Il stronger sentiment was indicated py me
early cables-due, II was clained, 20 tho
chinese question, private liverpopi caoit
stating that an uneasy feeling exis,e-s an;
as that market was reported 12d and Lon
don lAd higher. stronger feeling was
shown here right from the start. and there
long side than has been witnessed Of late,
as a result Of which the opening Tor o-p'
was iaGa<c better, at a5i.c- This advance
did not hold very long. for the reason mat
the bear sentiment was still IN the ascend
ant and there was plenty OF wheat for sale,
so much sc. in fact. that sept feH PACK 70
.s7sc, but reacted again 20 '5r4c. only 10
fall back again TO 74sxc. A weakening irfiu-
ence at this time WAS in the arrivals posted
on change. which had more effect upon
July than on any other option. that month
being offered freely, Iisc below sept, at '4c.
with no buyers at that figure. According 10
the postings. the arrivals here were 1890
hu.. against only steo ou. one year ago.
Other markets reported very heavy receipts.
and thu total at the fuur winter wheat mar
ke;S amounted to 81, 90 hu.. against az 30
bu. last year.
The regular weekly Government report
on crop conditions received This morning
indicated an Improvement in the North
west. The days outward movement from
the seabOard was small at 24s,elo bu-. as
were the days receipts at Minneapolis enG
Duluth. The closing Liverpool cable de-
noted a continuation Of the early strength
in that market. il closing sd higher for the
day, but Continental markets were by no
means strong, Paris closing L9i.c lower,
Rerlfn ssc and Buda-Pesth &c. Antwerp
alone being quoted steady ana unchanged.
The market acted heavy DUNG the balance
of the session and appeared 70 have no
bull in Il. No export business was reported
and this fact. with the let-dOwn in corn
had q bad effect. StiIl traders managed TO
get September up 10 15Asc again, but as
usual were unable TO hold il there long the
market breaking on reports OF longs selling
out II Chicago. which started some traders
TO sell for short account here. The situa-
ton gradually grew weaker and sein,de-
moralization prevailed near the close, Sept.
selling OF 20 Io3ic. or Ii llA.c lower for the
sold at .33sc TO dc, but closed ldlisc down
at i2s.c asked Aug. had ia t1isc bid, but
was NOT worth more than 73c at the close,
which was li4c lower. Dec brought '6ssc,
was bid 10 71isc and closed l4iisc down at
1886 bid.
The bulls IN corn were unable to get any
encouragement out OF that grain this morn
ing. though there were some OF the more
sansuine who figured il out fhat after the
late shake-dowu and heavy decline in prices
a reaction was due. II was d heavy ana
decidedly uninteresting market all the way
through. except for the bears. who again
sdcoee,ied in making new l0w-price record
before the day was over. The bulls wer.
encouraged TO seine extent by the fact that
the rains were said To be over with and
warmer weather might bs expected and
also by the renewal Of damage stories In
sections Of Kansas, where Il was claimei
was stronger, opening SsG off IN sympathy
with our declines of yesterday, but reacting
and closing I'D better for the day. The re-
ceipts at Western markets were SiS.nD bI.,
against s23GO bu d year ago. st. Louis be
celNing le,4oo 6u. against $500 bu last
year The total shipments from Western
markets were Lib go bu but the clear
ances from the seaboard were small at 2l0-
Cty bu: There was considerable apathy
much disposition to take hold, and the deal
inRS were small The opening here was Lee
lower at SSssc for September. from which
tnere was an advance 10 3sizIysasc and
iet-down tr 3Si.c sellers. Near the close
there was another reaction TO 3sssc. after
which old conditions asserted themselves
and from this tine 70 the fina! wiul-up
there was nothing left but a heavy. ragged
and decidedly bearfsh market. which
sellers &c of for the day at 3TI.c. July was
neglected throughout the day and closed
sc lower at S1iaC bid, year closing 'sc down
at Salzc. The cash situation was discourage
ing, the business done consisting of only
90 loads at the seaboari.
Again We are compelled TO repor. a very
uiet and embarrassing market in cats.
traders giving 1t little or no attention. The
receipts at Western markets were 2SS go
bu., against Z52pop bu. a year ago, including
y. 500 bu- locally, against 81 20 bQ. last wear
Total shipments Were 222 Go bu. and clear
ances 3.25s bu. There was little change In
the market closed at loss for the day
September being isc lower at 2a2.c asked
but July nominally unchanged at 2S,.c
Trade Gossip.
How senSatigEally exaggerated We're the corr.
lie seen in the Government weekly statsmcrt
On the crop and weather conditions OF last
week. II saws: The condition Of corn in Kan
sss and Nebraska IL less favorable than T., the
previous week and the crop Is suffering FOR rain
IN portions Of Missouri, Southern Ohio, West
Nirglnia, Maryland. Virginia and North Caro-
lima. In Indiana Illinois and Iowa corn has
pade very favorable progress AMI Is improved
IN Kentucky. Tennessee and PENNSYLVANIA. fls
''urse' the late hountful rains have relieved .hs
SUI. ering alluded to. OF wheat conditions saws:
except In the northerly districts the weath,
er conditions being very favorable for this work
in the districts east Of tbs Mississippi River. OK
rspt in portions Of New York where IL kaa tee,,
interrupted by rains Harvesting Is we'll aSvarcsi
the Pacific Coast. Furthe. improvement IN
TIE condition of spring wheat Is reported iron,
minnesota and South Dakota, and, while de-
cdcd improvement is reported In North Dakota
fhe weather Conditions In that State have been
IFopftious In Minnesota the crop has suffered
s,me damage from local storms. Fair TO good
ff