Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-12-17
THE GROWLERS WIN.
A Great Day for the Bears On the Chi
cage Board Of Trade.
ALL THE CEREALS AWAY DOWN.
Corn Scores a Decided Reduction With
Indications Favoring More.
LIGHT SUPPLY UNDERESTIMATE
Pork Likely to Fall Lower Than at Any
Time This Year.
THE STOCK MARKET VERY DULL.
Slight Fall in Prices on All the Lead.
ing Shares.
light SUPPLY UNDERESTIMATE
Pork Likely to Fall Lower Than at Any
Time This Year.
THE STOCK MARKET VERY DULL
Slight Fall in Prices on All the Lead.
ing Shares.
CHICAGO.
Especial Telegram to the Globe.

Special Telegram to the Globe.
CHICAGO, Dec. 16.-The bears are jubi-
liant tonight. They have had their own
way all day, and their foes are left in a
condition of utter Decentralization. They
have not been always glad. Until this
month the bulls have been making the
money. Now all is changed, and the
former victors are sinking a good deal of
their gains. Thus far there are no failures
this month, but there will be before the
close. Some of the weaker houses who
are long are looked upon as very shaky.
The shorts to-day boldly prophesy corn
will sell at 45c on the last day of tho year,
and that May will sell under SOC. With
wheat under dollar predictions of a much
further drop seem rash; still there is so
little life in that market anything is posi-
bic. All calculations in provisions have
been disturbed by the unexpected large ar
rivals of hogs, and it is admitted that the
lowest point is not yet reached, and that
there is little hope of recovery,
before the holidays. In January better
things may be hoped for.
On the board day wheat was fairly act
i've sbut decidedly weak, and at the close
month was 1Ac lower than at o'clock
yesterday. January &c lower, February
1}4c lower and May l &c lower. There
was considerable weakness yesterday af-
ternoon, and this morning the early sales
were at &c decline from the closing figures
yesterday, ruled weak, largely in sympathy
with the break in corn, and fell 115c more,
afterwards changed slightly and closed
easy. Winter is exceedingly dull and &c
lower, and spring moderately active and
115c lower.
The flour market was more quiet, and
the feeling in the trade was one of dull
ness, with little call from the home trade
and the export orders were greatly lessened.
Prices were weak, and would have to
be shaded for shipping stock to
sell any quantity. Rye flour
was slow; buckwheat -four firm; bran and
all millstuffs going out quite we'll.
The corn market was active and feeling
unsettled and weak, accompanied with a
material decline in price. The receipts
were larger, the weather cold and clear and
favorable for the inspection of corn, and
market adv1ces generally unfavorable.
Under these combined influences there was
considerable pressure to sell. AS price
declined and margins became exhausted,
operators commenced to sell more freely,
and the result was material break in prices
The market at the opening was a shade
firmer than closing figures OF; the call yes
terday, but commenced to weaken under
liberal speculative offerings, and prices de-
clined 1910 for December and year, 124c
for January, and &c for May below the
outside prices, then fuctuated, and finally
closed 11s@11ac lower for the various
futures than the closing figures on Change
yesterday. No. was in moderate
demand and while early sales were made
at 5055 q 5O4c, the market soon weakened
and by the time the bulk of car lots were
on sale, prices reached soc, and then sold
to 1870, and closed at about 1890. Hun
dreds of small operators closed out their
deals to-day at a loss or were closed out
by their brokers, margins being no longer
forthcoming. Some idea of the rapidity
of 1.-THE drop in corn may be had by 9
comparison of prices at the close of last
month and to-day. Then cash corn sold al
664; to-day at 1874, difference of 1870
in two weeks, of which difference SIC has
been made this week. May delivery has
lessened in value &c the past week, and is
still going off. The receipts to-day were
100 cars larger than yesterday, and graded
better. People are beginning to believe
the crop just harvested was much better
than had been reported. 1t is many months
since corn sold under SO cents until
to-day. The amount of this cereal
being thrown on to the market the last few
days is unprecedented.
Oats to-day are holding up fairly fol
present to breaking off heavily for the
longer futures, and dull for the same
with quite Shortage said to be out fol-
the year, and this was keeping from any
heavy break for the same. No. 2 cash sole
fairly for car lots fresh at 1890 early te
&c, the best bid later, with most samples
slow and the cars inspecting No. going
mainly in store and the rejected and No
2 white doing better on track than could
have been had in store. Future deliveries
were holding up quite well for the year
but dull at the close, under quite demand
from the shorts to breaking down for
the longer options.
Rye is quiet, and after the first opening