The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1880-12-30
THE BIG TUMBLE.

The market took another down turn
yesterday, and very unexpectedly SO to
the great majority of operators. There
was no great faith in a possible bulge be-
fore the close of the holiday season, but
most people had gotten the idea that
prices had declined about as far as was
necessary in order to make the trade feel
comfortable, as all the high priced longs
were supposed to have been closed out
under the decline of two or three days
previous. The opening feeling was
therefore, rather steady, but there were
orders to sell pork and wheat, which had
the effect Of depressing those lines, and
the others went down in sympathy with
them. Wheat declined to 96X for Feb
ruary "a drop of 256 cents,-and May
corn to 4156, a drop of about cent.
Pork declined to sl2.571s for February,
which was just a shade less than so cents
per barrel, while lard de-
clined to sS.424 for Feb
ruary, which was a trife less than 20
cent per 100 pounds decline. Oats fell off
to 34Mc for May. In wheat, pork and
lard, these prices were lower than the
bottom figures on Tuesday, which was
the really panicky day during the recent
period Of commotion. In corn and oats
the lowest prices were abouta quarter of
a cent above those of that day. The
markets rallied little towards the close
of Change, but
THE AFTERNOON FEELING WAS WEAK
and after the regular trading on the call
February wheat declined to 961e cents,
closing at that figure. The trading was
heavier than usual, but there were no
failures, and, so far as heard, no immedi
ate expectation of any. The fact seemed
to be that all the people who were hold
ing pork aud lard and grain at
the high prices of last month
were closed out a few days ago, and
though there are good many longs now,
they are longs at comparatively low prices.
For instance; the bulk of February wheat
which is now held by longs was probably
bought at from SO cents to 81 or $lOi,
and the same proportion will obtain in
provisions; so that q decline of or 4 per
cent. further would Oe necessary to ex-
haust the margins already put UP on the
majority of the deals which are now out
standing This is perhaps the best au-
gury that can be framed for a more
settled condition of things to-day and
during the holiday week. The trading
yesterday, though heavy, seemed to be
largely on local account, with few out
side orders either to buy or sell on the
market It was thought that the early
offerings of pork and wheat,
which started the markets down
ward, were the relics of lots sold
to the parties who suspended earlier in
the week, and were being closed out BY
the people holding them because they
were not able to deliver to the original
purchasers
THE SUSPENDED FIRMS
had nothing new to report yesterday.
Messrs. Jones & Mcdonald are in such
condition that they hope to be able to
make statement between now and Mon
day: They propose to treat all their
creditors alike, and their efforts are all in
that direction. Every dollar of the firms
wealth will go towards paying the indebt-
ness, and the indications are now that a
fair and amicable settlement will be made.
Col. Ray, of Ray & McLaury, is working
like a beaver to fix up the affairs of his
firm, and the same is true of Gardner