The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-01-17
ANOTHER VERY BAD
SHkkE-DOWa IN GRAIN,
ESPECIALLY IN WHEAT
HERE WAS A SLIGHT SHOW OF
FIIlNNI2sS CARLY IN WHEAT. But
LATER PRICES COLLAPSED.
BRADSTREET'S THE CAUSE.
conn WAS STRONG AND N DEMAND,
ADVANCING EARLY, Rtr WEAK
ENED WITH WHEAT LATER.
CATS WERE A SHADE BETTER.

CATS WERE A SHADE BETTER.
Office RnDuhllc,
TUESDAY. Jan. 10. 1900.
Pretty near everything OF a speculative
ra.Ure showed evidence OF an improvement
to-day. but the hesitation, which for sew
eral days has held the markets back aud
marked the conduct Of speculation. stlll ex-
listed. ana tho various markets were slow
in moving. Stocks, cotton and the cheaper
grains dli show something OF an improve
mens at the close. but wheat duplicated Its
actions CT yesterday and collapsed COM
pletely. prices breaking over a cent. max
ing a loss Of over Two cents In the past
two days. General conditions early to-day
Wers without mach change, bat as traders
figured that the sitUs-iCn was entitled 10
some recovery after the late weakness. and
especially yesterdays shake-down. traders
started n TO work prices Up. and, being
helred by tie unmisJakahle strength in
corn. which was sharply higher, they sue
Ceeded TO some extent. Nevertheless, spec
u!a-iVe operations were Eot improved ana
the dealings throughout thr day We're large
y Of a professional and spdsmOdic charac-
ter. the improved temper OF the situation
failing 10 bring out an increase in speCull-
ton. The early reaction was a very slight
one. except In the case Of corn. which was
IN a most encouraging condition. The high
er-priced grain. however. shortly before
the close. was confronted by conditions that
changed the whole aspect Of affairs. and 4
most disastrous slump occurred In prices.
which carried other grains along with il.
and that cereal instead, IA was fondly
hoped, OF closing with q gain was largely
lower. and the Improvement IN other grains
WAS insignificant.
After sereral days Of almost unbroken
ana serious declines. wheat this morning
;.tter a weak and lower start. took on Il
slightly frmer aspect, and prices showed
a tendency 70 move UP a little in spite of
the slack trading and UnfavOTabie adViceS
from abroad. Otherwise the situation was
dull, and narrow and entirely Of a profess
stOnal order. anu iu such an unstable con
Gltiun that when Br8iStreeJs figures on
IN" worlds stocks We're made public. the
market went all to pioce-. and another
heavy decline was added 10 the past two
days record. making the loss for the week
so far over e. The send-vff was not in
the least Of a character 10 encourage the
balls. who Were confronted right at the
,pgulnS with cables that pointed unmis-
fakahly TO a Dvarish condition Of affairs
in the markets OF the United Kingdom,
and brought out a large amount OF wheat,
The selling being for both long and short
account These cables reported declines IF
I'D at Liverpool III futures and ~ at Lon
Jon, with cash dull in the latter market
and E-TIa lower in the former The re
,eiptS at Western markets were small. and
as the buying 10 take profits was sufficient
10 absorb most Of the grain offered for
sale. the May option. which opened &c of
at SO. End sold - 6s'sHGSc, Steadied some
what and went back to GgC again. at which
figure there was good buying. Shortly ant
cr the selling ceased. there were symptoms
of a better feeling. although there was
nothing III the aIVlCeS To- cause - as
cables reported Liverpool and LONDON clos
ing sd lower for the day, while Paris was
&c, Berlin l2c and Hu0a-PeStt sc lover,
and the seabuard clearanCeS leo" bu. III
Hour and wheat, I; was the feeling that
- reaction after the shake-dOwuS OF late
was in order and talk that the market
WAS largely oyersold that brought about
;he more bulliSh feeling Witnessed at this
time, and together with The great strength
shown py corn, started sufficient buying to
advance May to 6tH-c, the top price of the
day July sold at 95&c to 6bi2c. and later
was bid CSC. Jan. early had sellers at
GIl@c and brought OIS-c-
1t was Bradstreet's report that was re-
Ceivei just as the bulls were gaining IN con-
udence that knocked the builish movement
silly. demOralized the market and brought
about d most disastrous decline in values,
ON the selling Of most the wheat previously
bought. According 10 this report there was
= decrease OF 5000 bu. in the available
supplies east of the Rockies, but 4,6r.Uo
bu. Increase ia European supplies afioat
ana on shore, making the worlds visible
show an Increase $4,000 bu.. whereas a
year ago The increase was but 1.3Z2.e1 bu.
This statement. although It had a Gisas-
trous effect upon sentiment and values, was
not wholly believed in. as neither bulls nor
bears. for that matter. could understand
where the big increase came from. ana it
was claimed that the increase abroad WAS
due to a correction in Russian stocks. This
explanation did not check the selling or the
declining tendency of the market, which
continued uninterrupted t. the close. May
selling of to 6Ia4C and closing 1@sC of for
the day. at 67a4U July sold at G5i.c, and
at the close was offered Ii2c lower, at 65as,
while January sold at 65' Sc. and was for
sale at the close lc lower. at e6asc.
There was very decided strength shown
was pretty we'll maintained to the close,
though prices received "A setback late In the
session by the collapse in the higher-pricei
cereal The market was a quiet one most
of the day. Notwithstanding that it lead
IN point Of strength. In the first place
there was nothing In the adviCes that was
calculated To tempt traders to sell. except
the early let-doNn in wheat. There was
rot the slightest increase in the arrivals at
primary markets. though IT was said that
farmers were selling with more freedom,
the reason being that country roads were
in no condition for hauling. The total
receipts 1T Western markets.. according to
the figures posted on change. were 3d.
ga bU. against 9jl,11 bu. a year ago. while
the arrivals here We're hut 23,eUO hu. as
against 1850 bU- las: year. The shipments
were 1000 bu., and the Clearances from
Atlantic and Gulf ports 736.0eJ hu. Brad
streets figures showed an increase IN the
available supplies Of l.4e6. Vd b.. which
indicated l.135.00p hu. Increase at POINTS
outside the regular visible. The cables
were not half bad, they reporting a de-
cline of I'd in cash, but a fair demand and
futures closing without change. The OPEN
ing figures for the May option were the
same as they closed yesterday. 22c. hut
on a very sharp demand that option adj
NGnced to 321.c, and was strong at that,
but the slump In wheat could not be re
sisted, and II sold off TO &c again. while
closing Lice better for the day at 22risc
sellers. Jan. was &c higher at close. at
30S4c nominal. and July not quoted.
oats here attracted but little attention
from traders to-day, owing to the SUI
perior attractions presented by wheat and
corn. Some May sold early at 2iT.c, hut
it was wholly neglected later and closed
1-l6c better for the day. at that price.
July was hc higher at 24lsC. Receipts at
Western markets aggregated i3D.01t bu..
against 423.oo bu. last year. the arrivals
IN. a year ago. Shipments were 3AS, 90 bu..
and l20,e0 bu. from the seaboard. '3rat-
streets reported $4,000 bu. decrease In the
avaiEble, where the regular visible ne
creased $4,000 bu last week.
ON THE CURD-St. Louis. go p. NJ
May wheat sold at $3.50 4c; puts 67I.GS.c
b.; calls 6sLo b.
Sic. May S3i.asc: calls
S54sc s.
Trade Notes.