Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-12-22
THE HENNEPIN CANAL PROJECT.
Resolutions Of the Chicago Board Of
Trade Urging Government
Purchase.
SLEEPY MARKETS IN NEW YORK.
A Rise in Northern Pacific and Fall
in Minneapolis & St. Lsuis.
CHICAGO.

CHICAGO, Dec. 21.-The short demand
change, to-day, influenced largely by the
higher range of prices and large cover
ings of the two previous days: As result,
the stays being removed from under the
grain markets, excepting only oats, prices
were not sustained and a shrinkage took
place all along the line. 1t was not seri-
GUS. and cannot be ascribed to faintheart-
edness of the bulls but some longs who
were sure of a moderate profit on stuff
bought early in the week were willing to
shade prices in order to realize. The
bulls who are now under corn did not ap-
pear to think the weakness sufficient to
rush into the market and with big buying
orders. They let things take their course.
On the board wheat was fairly active
but generally easier Auctuating H@&c
and closing go lower than yesterday on
the month, 10 on January, February and
May. Early sales were at nearly the clos
ing prices at 1 o'clock yesterday, but soon
began to weaken and fell off irregularly
&c from the highest point. It afterwards
changed slightly and closed as labove noted
Spring was in fair demand but easier, and
winter quiet and steady.
Almost nothing was doing in flour and
dealers do not anticipate any particular
trade until after the holidays.
Trading was not as active in the corn
market as yesterday. Outside orders wore
less numerous and operators did
not trade as freely, still very fair aggrs-
gate business was transacted. Shippers
bought moderately of the lower grades and
prices ruled weaker. At the opening the
speculative market was higher for Deem
Der than closing figures on the call yester-
day, but weaker for other futures and
under free offerings prices ruled weak
declining 1a@14c for the various futures
frsm early prices, with December suffer-
ing the greatest reduction. The receipts
were again very fair and shipments mod
crate. The market finally closed quiet and
4 lower for year, 10 lower for January
and &c lower for May, than closing fig
ures on change yesterday. No. 2
was in moderate request and sold
at 5a@5S and closed at about 531sc
High mixed quotably about the same as
No. 2. Rejected sold moderately at 44c
New mixed in great request at lower
prices. For December the demand was
less active with sales at 52@54llc, and
closed 531sc bid. Opened with sales at
s@544c, declined with slight fuctua-
lions to 53c, sold to 534c, then $50 $3.50,
fiuctuated and closed as above mentioned.
The bears show much anxiety yet over
the contrariness of corn in not staying
down when they put it there. A promi-
nent broker said yesterday: II was telling
you few days ago of dark horses in corn
who had played 'possum on the late decline
in year. Well, they had so strengthened
their position in corn that sharp advance
was then probable. They now hold the
key to the situation and will get material
aid from the shorts as it advances. I
fancy that the line of shorts is very large
in all the future options of corn. I have
it from good sources that there are now
two organized syndicates in year and May
corn, each working Independent of the
other. The year is within the grasp of
Wall street operators, and they are con-
trolling deal. These New York parties
have bought as far back as two months
ago. and held on through thick and thin,
until now they have a huge profit in the deal
even so far. The May corn is in the hands
of very powerful clique here in Chicago,
but it would not be prudent for me to
mention names at this stage of the game.
1t is certain that there will be a big ex-
element here before JAM L."
The wiseness of his prediction remains
to be developed There certainly is an at