The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-08-10

CHICAGO, Aug. 9.-Calamity overlook
the bulls in the provision pit today. The
week, and especially the precipitous de-
Cline in corn, had taken all the faith from
holders in all the speculative pits. AS
further argument against the bulls corn
broke again early in the day. This was
too much for the provision crowd and an
avalanche of stop-loss selling orders
swamped the pit. Pork made the great
est break-80c-but other products kept
company.
While a stampede was working havoc
In provisions, the grain crowds came to
reached. Covering on tremendous scale
took place. Corn shorts covered by the
millions. The bearish conditions of
rally, but in the end everything on the
floor reacted. September corn closed "a
@Ac up; September wheat a shade lower,
ions closed 71s @15c lower.
Really Demorailzed.
Provisions were demoralized until late
ing pressure in the shape of liquidation
in September holdings and selling short of
January and May. Pork was the product
raided and the bottom dropped out of
the market. Everybody was Offering
stuff. At times January pork was offered
zoe under the market with no takers.
about soc. The lard had been firmest of
the products and turned strong on sup
port. The hog market, which had been
lower on only 5000 head received, turned
stock to market next week.
Corn, the weakness of which was the
primary influence in the provision sell
ing, turned firm. After the severe break
there was a reactive tendency and the
days losses were much less than seemed
at one time probable. September pork
ed weak, 15c off, at SIG .35; January sold
from $14. IS to $13 80 and closed at $14 SO.
September lard sold as low as $40. so and
closed TIC down at $40. 67H; September
closed 121sc off at $40. OH.
corn's Weakness.
Corn was so weak early that it caused
weakness in everything else on the floor.
After Slumping over &c in a week, an adj
ditional decline in deferred futures of lie
renewed liquidation. The weather was
favorable and crop reports were beariSh.
Texas was asking for bids for corn for
immediate shipment. Altogether it ap-
peared that soon there would be big
movement from the Southwest. The de-
cline, however, soon brought prices to a
to the shorts to last long. Covering had
been going on all morning, but now grew
lively. The clique that had sold Septem-
Der short around Soc as a hedge against
big profits. The crowd turned bullish,
but the recent depression had been so
great that it was hard to overcome. Sep
TENDER, which slumped to 50ssc rallied
to 51Ac, but closed only a trifle firmer,
B@Ac up at 51as @51Ac. December
Slumped lc to S9c and closed easy, u @
Nc off at 1874 @39Bc. Receipts We're still
remarkably small at 81 cars.
New Low Record in Wheat.
Wheat made new records for low prices
for the crop. There was a temporary
firmage at the opening on light rains in
the spring harvests, but the drop in corn
and the subsequent depression in oats
brought marked depression. Crop pros
poets still were excellent and all reports
indicated big yields both for winter and
spring wheat. StDp-loss orders were
plenty, short selling was free and there
was only Scanty covering later in the day
on more rains predicted Northwest. Re-
ce1ptS We're very heavy, especially South
or Liverpool, but the continent was weak
september opened Il C up to unchanged at
68A @6Sc, broke to 671sc and closed easy
a shade off 67M @68c. December sold
down to 661ac and closed 1sc up at 66% %
66Bc. Local receipts were 262 cars, one
of contract grade. Minneapolis and Du-
luth reported 11S cars, making a total
for the three points of $50 cars. against
459 last week and 416 year ago. Pri-
mary receipts were 1,311, 900 blu, against
775, 900 bu last year. Seaboard ciearances
IN wheat and flour equaled 633 600 bu
Corn weakness brought slumps in oats
Trade was fair, but the crop reports were
too bearish to allow much of rally when
lively strong, but liquidation in the near
futures caused a dip of 1c. September
sold from 81 to soc, and closed weak, 3; C
on at 30Ac. Receipts were bearishly
large at 244 ears.
The estimated receipts for Monday are:
Wheat $40 cars: corn, S5 cars; oats, $40
cars, and $4,000 head of hogs
Inc IeadIng futures ranged as follows: