Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-12-22
PROVISIONS AND CATTLE FIBn.
A Spiritless Bay Among the Bulls and
Bears OF New York.
THEFAIlUREs OF THE PAST WEEK
Movement OF Frade-A General Apathy
and Dullness Manifested.
CHICAGO.
[specigI .lagran to the Globe. ]


the party Of higher prices who have been
reinforced from VII street, and smaller
receipts (cniy 185 car loads) wheat las
ruled weak all day. It, however, WAS
claimed by those Who profess to believe in
''the stuff" that 1t was nos from
inherent weakness, but simply
from neglect aud general
disinciinstion to increase lines iust on the
eve OF the holidays that prices declined.
The opening sales vera & 1(c below yes
terday's close, and most of the outside
orders we're to sell. Several longs IN
loaded and took good profits. The princi-
pal feature and the most depressing in
huence vas the throwing upon the market
of 100000 to 100000 bushels of long
wheat By Deacon Hobbs. This made e
drop of 80 plump. Several others fol-
| owed OF traiIed on, and the fact that the
shorts seizsd the opportunity
to cover alone saved a sharp
decline. As it was wheat closed 1c per
bushel lower ali around than it closed on
yesterday. The curb was weak and no one
seemed inclined to traffic to any great sx-
tent in puts aud calls.
Shepard & Peacock say tonight: "There
is not much use in theorizing just now.
We need more trade to put wheat higher,
and just now the principal operators are
engaged in corn"
Critterdon il Harney say: "We believe
wheat worth the money it is selling at,
and would keep on the buyer side
Receipts ara dropping of, and as
soon as stocks reach q maximum point
prices will advance materially"
R. LIndblom & Co. say: "Whest has
ruled weak to-day. A short time ago we
called attention to the fact that war had
been fully anticipated and prises would
decline after the fret furry. Last even
ing we had actual war news. and the result
is cent decline, There were no shorts
to scsre and the longs wanted to sell but
could not, and are now holding in antici
patton OF a January balge and crop
scare. II may be thai the
advance Of cents from the lowest prices
represents the accumulated snticipatIons
of all these things. We confess that were
it not for the immense stocks in Chicego
the situation would be fairly bullish, and
it is barely possible that this may be lost
sight of long enough to bring about a
bulge, but next spring this element of
100000 wheat in Chicago will come
back with crushing forco, outweigh every
other consideration and perhaps bring
about semi-panic."
The local scalpers pitched into corn
this morning con Gmore, and pounded
away until, finding that they could not de-
press the market, they turned and went on
the other side. Then some OF the longs
turned rouud and fed the crowd some
corn. This gave the market down tuIn,
and prices drooped abou. 58c all around.
Towards the close Lester changed tactics
again, apd becoming heavy buyer boost
ed the market about 15e.
There was very little done on call or on
curb, aud prices we're unchanged.
After gas lighting this evening some
brokers visited prominent commission
houses and offered corn in lots to suit at
81 Sc. They seemed anxious to sell, and
one house told your correspondent that he
believed that they could have bought l00,
900 at Gl5i c # he had bid. 1 made some
careful inquiries and found the rises of the
brokers wero apparently carefully ar
ranged, for they had covered house which |
are generally understood to have CORE
spondents in all sections of the con ntry
so that the country both south, east and
west will be duly advised to might that the
curb and after hours markets were very
weak ana much lower. II has
besn placed this way before, aud may be
intended, like the s1.10 pointer. for 4ay
wheat few days ago.
Private advlcss we're received to-day by
& large house from reliable correspond
ents in Illinois, Iowa, Missouri and Ksn-
sas, which are less hopeful in regard to
corn than they had expressed themselves
two weeks ago when expecting cold
weather.
There were good many on the pro7is-
ion market who desired to make costly
Christmas presents. These realized to-day
and although cables were irmer, the e1-
cessive offerings depressed the market, and
February pork closed weak at S14.S0 and
and perhaps a shade of on the curb.
There we're only 12,500 barrels traded Or
the call. and these purely covering up"
transactions. The packers are beginning
to recognize the fact that the hog crop
will not prove as extensive as
they have been estimating, nd that
their producs is costing more
than they have in some cases
saied it. The weakness of the market is
purely an end of the year holiday affair.
Tonight prominent operator expressed
the opinion that as soon as the new year
dswned there will be perfect whirl in the
markets. If the manipulators of January
corn held on and Carried their, the markets
would all be forced upward. If. however.
they should unload, the whole list would
drop, wheat to 81, corn to so cents, pork
to S12 and lard to 79s cents. It is gen