Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-12-31
CHICAGO.
Ispecisl Tslagram to De GLobe.

AAAJAAEg. LyEt. "a l-Lst PBGCGLi-AfG ONs14
ness was transacted 10 corn to-day, and the
feeling developed VS. weak, prices showing q
liberal decline all round. The receipts we're
larger and there is little larger percentage Of
the arrivals grading contract corn.'' Besides,
there appeared 70 be considerable pressure to
realize on long corn. Atany rate the offerings
were liberal and exceeded the demand. The
market opened irregularly from H92lc lower
for the various futures, but ruled firm and ad-
vanced after the opening. When January had
reachei 59c and one trade had been made in May
at 60c, David Dows q Co., George
Eldridge, Paul, Kent & Co, Nat Joaes,
Crittendsn L Harvey and others commenced
selling January corn. AS the speculative offer
ings increased the market soon began to weaken
and prices declined IB91Hc below the out
side prices reached, huctuated, and the closing
figures of to-day ruled 10 lower for January,
14c lower for February, and 1Bc lower for
May than the closing figures yesterday. No.
and high mixed in moderate demand ard Sold
at 573I958c and closed at about 57Mc. Re-
iected in light demand and ruled 292Nc
lower, and sold at 42c. New mixed sold at 489
46%c. New high mixed sold at 49Hc. 1t was
reported that brokers for Schwartz d Dupee
were quietly buYiog January and February
corn, and w. D. Baker bought largely to-
ward the close. There was a great
deal of shaking out to-day, and many
who were aud are firm believers in
May corn were forced to unload, as the market
has every appearance of going to 55c before a
halt is called. A few fortunate ones belonging
to a clique, OF which the firm OF Schwartz j Du
pee are believed to be foremost, can afford to
awaite the outcome with supreme Indifference to
the sentiments Of the crowd who think January
corn has COLLAPSED. Having upwards of $780,
900 bushels of corn bought while there is a visi-
BILE supply of barely ZOO, 000, they have only to
absorb the amount IL store to get the whole
thing into their own hands and run it as they
please. Had they purchased but 2,000,-
900 bushels which could be prompt
ly delivered to them, and which
they would be obliged to either close ont at a
sacrifice or carry at a risk, the situation for
them W )uld be more alarming.
"The reason for the drop and weakness in
corn was unconsciously expressed by my little
boy this morning. said Mr.. John V. Ramsey.
''Wheu 1 came Town TO breakfast 1 said: Joe,
what kind Of a day is it outsider 'sesutiful,'
he said, just like spring. That's the trouble
with corn. Hogs can got along very we'll with
out it this kind Of weather"
A. H. Bliss is rather a Big bear. To-day he
said: ''The lambs are in here, the wool has grown
long and they are getting sheacsd. They are
usually good holders. They won't Let go till
they have to, bat they are getting shaken cut. l
look for d b-ea1."
Shepard & Peacock said: SIN the csrn mar
ket weakness was tEe order OF the dsy, and Z
pretty general move was made to sell. Long corn
was thrown overbsard and the decline and
wsakaess encouraEed and emooldeued tie bears
to increase the T lines, and hammer the market
in doi1L 1t. January corn has now goae To
about lc discount uuder May, and it was quietly
bought Uo by brokers for tlose having the
deal. February was also more closely looked
after and bought along with January. From
all we can ascertain the January deal remains
undjsturbad. Receipts we're rather lib
eral, and the inspection somewhat
better. Closing, the market was aboat 5sc May
and 5Sc January. The curb was a shade easier,
sellers at sec.
Crittenden & Harvey sag: Corn opened weak
and has averaged lover all morning. TIE sit
uation has not changed particularly, and We zee
no evidence of any disposition on the part of
the January holders 10 unload. Local talent
seem disposai to pound the market considerably
and operators from the southwest come to the
front with liberal selling orders, which helped
along the general weakness. We don't look Tor
much additional decline, aud believe BIay corn
boughtat current prices viii make money
Wheat opeHed "a C lower than it ciesed on
yesterday, rallied slightly and then declined
Ia uudert the unloading by the large buyers of
yesterday, aad m sympathy with the weakness
in corn. The receipts vera $50 car loads; and
public acd private cables were alike dishearten-
ing ID the b dis. The largast local spectators
were selling all day, aud the bsars pounded the
market. With all thsse depre ssing irhuences
the only strange thing was that the market did
not 60 much lower. Thsre was u rally
near the close of the session.
While tho sroak at this point will
show an increase of about 800, O0O bushels,
there was q report that the visible supply would
show a decrease during the coming week. Ad-
vices were also received from the northwest in
Gicatilg that wheat receipts were falling off.
I'D Unat millers at Minneapolis were conmenc-
ing to withdraw supplies fcom the elevators.
This emboldened Roach to try and buy a large
lot. He loudly proclaimed himself in the
market for l,Gt0,oO0 bushels of wheat.
He got alb, VT 250,00s bushels of Nav
wheat a 81 .04$l9t.OS. The fluctuations of the
day IN ali the options were governed by May,
which opened at 81. 03$49l. esq, sold down to
SA.O1lSs NSAt up With one safe To SI.U3. then
fell 70 Sf.O2S4, was bulged to SI.0SH, went off
to Sl.02}4, then advanced and closed at sl.US.
4 leading commission house, writing of
wheat, says: "A decidedly weak feeling was
exhibited in this market to-day, and no at
tempt whatever was made to hold it or sustain
1t. The dealers, such as Reens, Jones, Hubbs
and Comstock, are on top of the market. and
whenever thev see a weak opening they force
themselves through it and hammer the prices.
May whest touched Sl.p2H and closed at ST 03
old. Receipts were not at ali large, but there
was noshlus in the outside situation to encour-
asea Dull, AID hen e the market was TO all an
pearahceS without a FREUD or believer. The
euro marAet IS a shade easier, 81 .e21 sellers
There was quite a heavy break !, TIA o.ts
market, and the7e was i%itrleif any effort made
TO recover the loss In addition f. re nr
thv IN the weakness IL Other markets JobI1 ~
ant, Moses JoUes and W. G. Press 80 "S
sellers. Iae total decline was abon. s<4TFs
y predict = much lower range all roT7nd ;,
SAID Mr.. ". &. Press, q prominent broker !;
oats, we favs had al advance of I or Sc -
eats and a1o : &c II corn. 1 Iook for Nav
corr to sell ab51t 5sc aad oats about SIC. We
have l,5Go,0l2 5szne,s OF oats in store, and he