The St. Louis Republic., 1901-05-10
WALL STREET BREAK
affected WHEAT MARKET.
PRICES DECLINED SHARPLY
UNDER FREE SELLING.
Corn Ruled Rather Erratic-Oats
Were StrOng-Provisions Low
er, but Steady.

REPUBLIC SPECIAL.
Chicago, ILL.,, May 9.-wall streets break
in stocks caused free selling in wheat and
prices declined sharply.
Corn was rather erratic. Shorts covered
freely. Good buying was noticed in July.
The oats market was strong. crop reports
not being favorable.
Provisions were somewhat lower. but held
steady.
Wheat was active and dull by turns. with
fair trade. The feeling developed was
nervous and unsettled within lower range.
May declining to 7O7.c and July TO 707sc.
Later there was a fair recovery. but tho
close was a.@!sc lower. The situation on
the New York Stock Exchange created a
great deal of apprehension. and timid
longs liquidated their holdings. The evi-
dent lack OF short interest made the de-
cline more easy. support being lacking until
material break had occurred. English ca
bles We're weaker. seaboard markets lower.
Continental cables off sharply and the Price
Current again 'bearish,' claiming wheat
condition was fully maintained. The fore
going naturally created weak feeling and
liquidation was general French crop news
was conflicting. Liverpool futures were Isll
Ad lower. London declined I'D Paris came
19c lower. A private Paris cable stated that
IL was too early to say much about the
wheat crop. but prospects were less
favorable: weather cold and wet. Clearinss
were very moderate. 10000 bu.. and G2 boat
loads were taken on coast. The local cash
demand was reported quiet. Minneapolis
wired that good reports continued to come
from the wheat-growing country. Receipts at
Duluth were q ears and at Minneap polls l62
cars. total of lss cars. as against l42 cars
yesterday and 297 cars last year. Local re-
ceipts We're IL cars as against 10 cars last
year Included in the above were no cars
OF contract grade. Estimated receipts for
Tomorrow are 45 cars. Tho receipts at
Eastern points We're 35l.55l bu. Shipments
from Western points were 1856 bu. Ex-
ports Of wheat and flour were equal to fso-
Os' bu. May opened at 727so and closed at
asso bid. July opened at 77sg72c and closed
at naG7sc.
Corn was only moderately active, with
trade largely local The feeling was weaker
and lower prices ruled early, followed by
steadier tone. May closed 1c higher, July
OFF ssc and Sept. shade easier. The Wall
street excitement. break in wheat. better
grading. prospect Of increasing receipts and
lower cables caused the early decline.
Long interest bought on the decline also
taking on Sept. shorts in that delivery
coming in. causing an advance to 46c. Re-
ceipts 2si cars. Receipts last year were IA
cars. Fer tomorrow 325 cars are promised.
Liverpool futures were 1sQAd lower. Liver
pool cabled market slowly declining and
that Argentine corn was cheaper than
american. a n1 M Western receipts We're 20 900 bu.
62,W0 bu. larger than In 1890 Shipments
were 10000 bu.. 1000 bu. greater than last
year. Ciearances We're small. u4,OO bu..
and only IA boatloods were taken on coast.
Local cash demand still mixed. Country
acceptances moderate. but better than yes
terday. Starch works in some sections are
contemplating closing down, owing to high
and closed at SIC asked. July opened at 46c
TO 4614c and closed at iSatc bid.
Oats.
Oats were active, unsettled and acted in
dependent OF other grains This was due
to heavy outside business. based on unfavOr-
able crop reports and sale of 100000 bu.
receded Aa3sc early. nut advanced .sgiao
over yesterdays close. and last sales were
at a net loss of 1sc on May. lsc gain on July
and unchanged for Sept. Cash sales were
1000 bu. Seaboar3 slearances were 26.U0
bu. Arrivals were III cars. with 1876 cars
estimated for tomorrow. May active, OPEN
Ing at @ac and closing at 2sssc, July opened
at Nisga,c and closed at 27asc. Sept. opened
at 25l<c and closed ut 251sc.
Provisions.
Trade was fair In a speculative way and
free, and the demand moderately active.
Outside orders light and local trading was
fair. Market opened rather easy in SYM
pathy with weaker feeling In grain. Dur
ing the latter part of the session the feel
Ing was steadier with moderate rally In
prices and the market closed steady. For
eien meats were strong. and Liverpool quo,
hams. Lard was quiet at cd decline. Do
mestic markets were steady. May pork de-
mand was light and offerings small. Opened
of sold tn ~ nd oln ofn
July offerings were fairly liberal and In
quiry was moderate: 1t opened at S14s71s. and
SHisd as small at las. at seR Sas 5a,hss and eosed Sosd
at sh.55. May lard demand was moderate
and offerings fair. Opened at s7.S2hla. and
closed steady at $3.50. July opened at 81 90,
AND AND closed May IBBs were at anss
and steady. with small sales at 3s.o2lsaS.oo,
closing at ss.O5. July opened at S7.S7iS and
Flax was firm. Old crop seed commanded
1lfd3c higher bids Not transaction aside
from sale Of rejected; New crop fax
the prices bid yesterday being again bid to-
day. Movement Of fax was very small;
ca cars % were received. d - There he were taken out
cars and Duluth cars. Rejected sold At
$l.63; No. l and No. l Northwestern each
met n t with bids Of s;ss Is May sls7 bid. and
sl.35 and sl.3O bid.
Timothy and Glover Seed.
Timothy was again very weak. and
fected. prices for this dropping fully
2oc. There were fair offerings and de-
mand limited. with no competition.
Sept. sold down SC. and the final bid
was 30c below yesterdays closing bid. Good
quality of cash seed sold at g .26d3. 30; very
poor. $3.50. Choice to fancy nominally
about sa.35a3 30: contract ut $3.65: Sept.
Ss.15. and closed at $40 bid. Tho closing
was very weak.
Clover-There were no offerings aside
from few lots of poor tailings. These
naturally had to be sold very low. For the
regular grades values were said to remain
unchanged, but tone Of market wenk; no
one caring to purchase Cash market quota
bic at ssdi9 for common to high grade coun-
try seed: very choice possibly above, and
tailinys $2G4 Fair to good, $IdS; contract
grade, S9.50dI0 nominally.
3. Range of Futures.
v5S:ss.a.' Wis .:::::lssi III Fl s. esSs r,s;s;
Corn-Nay -. :. 52ta So hlh S
July ......$ 9S !es 4sS ..4Sx
n