Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-12-19
BY THEIR own PETARD,
The Bears in Chicago Hoist by Their
Own Great Greed.
THEY PRESS PRICES TOO HARD.
And the Rebound Sends Them Up Boom.
ing Several Pegs.
ALL CEREALS NOTABLY HIGHER.
Provisions in Good Demand and Prices
Well Sustained.
III CEREALS NOTABLY HIGHER.
A REVIEW OF THE PAST WEEK
A Constant Reduction in Values for
the Whole Seven Days.
TRIBULATION AMONG THE BULLS.
Stock i'm New York Trifle Weak..The
Next Vanderbilt Acquisition.
CHICAGO.
Especial Telegram to the Globe. |

Especial Telegram to the Globe.
CHICAGO. Dec 1S.-An unexpected i'm
provement occurred in all the grain mar
kets to-day, and the bears themselves we're
the direct cause thereof. Opening lifeless
they put prices about where they wanted
them this morning, until scared at their
own success, they began scramble to buy
at the figures reached. Everybody seemed
to be of the idea that bedrock was reached;
consequently everybody was buyer. This
of course gave life to the markets and
spurred on by competition among the
bears themselves, corn and oats walked
right up, and the bulls without an effort
scored a point. During the temporary ex-
citement when the shorts were all trying
to close out their deals at the profits al
ready accrued, rumor was started and
became current that the remaining
longs were preparing for another desper-
ate effort to lift things. This added to
the haste of the short crowd, and mate
rally helped the turn in affairs.
During the whole of last week there was
and the feeling was heavy with a gradual
decline in prices from the opening to the
close, month closing &c lower than the
previous week, January 14c lower, Feb
ruary 414c lower, and May 25sc lower.
During the early part of the week there
was but little doing and the business was
principally of local character, and out
side orders few and scarce. This neglect
caused dull weak feeling, but the decline
was very gradual, only falling about 1c
during the first fourdays of the week. But
after that the decline was more rapid
Influenced largely by the heavy break in
the corn market, and there was also more
activity, the downward tendency having
brought out pretty free sellers. On
Friday and Saturday prices fell fully &c
and closed at nearly the lowest point of
the week.
This morning this market was more
active, and irregular, being exceedingly
dull and weak early in the day, but after
wards frmed up and at the close, month
was about sc more than Saturday, jan
uary sc higher, February 1sc higher and
May 70 higher. The feeling was ex-
ceedingly weak early, and sold 1@14c
below the closing figures at 1 o'clock
Saturday, but afterwards improved and
sold up nearly 21ac from
the lowest point, eased off
some, then fuctuated slightly and closed
tolerably steady. December was quiet,
and there were few sales early at 90Ic,
but under good demand and little offered
sold up almost Immediately as high as
9215c, eased Off some, then fluctuated and
feeling was trif1e quieter, and as result
a shade easier. Still the closing figures on
the board were very nearly maintained.
Winter is lower, and in good demand.
Spring broke early but recovered when
No. 2 regular improved.
Flour is on the down grade. During
the week just closed 1858 barrels were
received here and ia, ,S06 barrels shipped.
The receipts were nearly $4,000 barrels
more than during the same
week of last year. Dullness
ruled throughout the week. This is due to
the large quantity exported having fully
supplied the markets abroad and caused a
sufficient reduction to offset the higher
freights on the decline at eastern points.
Our home trade has also been light, with
buyers taking more than usual for the lat
ter days of the week. At the concession s
made to the trade, prices were generally
easier, with quite low rates allowed for
winters, and it is said decline of 15@2Oc
per bbl. for good and sound export stock,
and the lower grades being disposed of for
what they would bring. This heavy. move
ment noted was mainly on through ship :
ments, and only small quantity was
stopping here although we have
had more winters on sale
than for some time past. Rye was dull.
Buckwheat lively at better prices, and bran
and millstufs doing fairly.
To-day the flour market was slow and
the feeling in the trade was one of de-
preston, with the home trade buying to a
light quantity and shippers and exporters
were having light orders and demand for
lower prices. Prices were weak, and
would be shaded for nearly all grades whom
by SO doing sales can be made. Buck
wheat flour was doing well and in quite
sharp request. Bran and all millstuffs
were in lighter inquiry. still holding at
steady prices.
During the week under review there was
fair degree of activity in corn, but
the general tone was one of
weakness, and at the close cash No. and
year was 53se less than the previous week.
January 414c lower, February 355sc lower,
and May 22c lower. The decline COM
menced with the opening of business on
Monday, and continued with scarcely a
check to the close of business on Saturday.
Cash and the year futures, it will be seen,
showed more weakness than the deferred
options. Thus while year fell SIC from
the opening, May declined only 224c. The