Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-01-25
gB sr0eK MARKET DEPRESSED.
CHICAGO.
Is,s..al Teleeraru 10 lie CLOSE. |

iugs of yesterday. While prices at che
time showed q tendency to rally, this in
Guence was paramount and induced a gen
eral dizziness and depression. A good deal
OF corn was thrown on the market by
callers anticipating the action of the direc-
tors and doubling their ability to carry
their deals longer, and this had some
effect.
In the corn pit trading was
quite active but the volume
OF business transacted was not as large as
yesterday. The feeling was unsettled and
prices irregular, with local influences gov
erning the market. The receipts were
larger and shipments small. Foreign ad-
vices quoted corn strong, and New York
reports quoted dull feeling. The market
opened easier, but under good demand raj
lied, and for February prices were ad-
vanced 2{@1c, while the more deferred
futures varied but slightly. Then under
free offerings ruled weak, and prices DC
cliued 2l@13$c for the various
futures; ruled unsettled later
in the day; fuctuated, and finally closed
sc lower for February, &c lower for
March, and sc lower for May than the
closing figures on change yesterday. Jan
nary ruled quiet and closed about &c low
er tAansyesterday. No. . was in light de-
mand and car lots quot able at 69a 6938c.
with round lots ranging the same as Jan
nary, G9a zoe, and closed ut about CSC.
Rejected was quiet. New mixed in some
request and quiet, owing to the small of
ferings, new high mixed sold at 50@504c.
The trading in January was mainly
in settlement. The first sale was
made at zoe. On call there was a moder-
ate activity, but prices were still easier.
January closed at 68}l @G8%c.
There are no new Developments con-
corning the Lyon injunction, but while it
is thought he will have 10 followers the
matter viii bar many settlements and
check business to a considerable extent
1t VIII be a convenient escape for de-
faults.
The directors, who arrived at no conclu-
sion at yesterdays meeting, met again
this afternoon to fix the marginal price of
January corn. The result of their
deliberations was the adoption of the
following resolution:
Resolced, That this board consider the
object of the rule under which these pro-
ceedings we're had as intended to secure
full protection to both buyer and sell
Ter rather than to undertake to determine
the actual value for final settlement. With
this view, and not desiring to be misunder-
stood, the board decides that members of
the board under the rule shall have the
right to call margins on contracts
for No. 2 corn for delivery for
January on the basis of 55c
as the value for No. 2 corn for marginal
purposes only.
The bulls say this will interfere with their
plans, and claim prices will not be affected
by the decision, which concerns only small
operators.
Handy thought this morning the mar
ginal price might be fixed at Sc, which he
said would satisfy him well enough.
Wheat has been very much affected by
the state of affairs, prevailing on the board.
Trading was fairly active aud weaker
feeling was developed. There was
more desire to sell, and with
increased offerings. Buyers appeared
more reluctant about purchasing. The
market opened weaker and prices were
about 90 lower; rallied about &c, and
then, under free offerings again took the
downward scale and declined about Ia
lie from the outside prices reached, and
closed - lower for February and March,
and 1116c lower for May than the closing
figures on change yesterday. The weak
ness was increased during the afternoon
and prices ruled easier than on the board.
Winter and spring were both quiet and
lower.
Flour continues slow and it has been diff
cult to bring about trading for some days,
with the high asking prices and the diff
Guilty had in shipping checking business.
The tone of the trade was firm one, and
in order to buy freely asking prices would
have to be paid, with the home trade look
ing after thesnfner Minnesotas, straights
and patents and shippers for the good
stock in sacks.
Oats were easier and there was quite q
break from yesterdays prices with few sell
ing orders and less disposition shown to
purchase, being Influenced in this direction
by the weaker tone shcwn in other mar
kets. No. 2 cash was about 372lc early, to
37llc later, with only few cars offered OF
wanted. Samples were DING but fairly
and holding at firm prices for the better
cars OF white. During the afternoon there
was a Somewhat better inquiry and board
prices held steady.
Rye was dull and 1Q2c lower
due simply to an absence of de-
mand. There were fair offerings
No. sold early at Gle and afterwards Sc
was all that could be obtained. Rejected
was about SAC, samples slow. Future
deliveries were dull, with better demand
and prices 1@2c lower. January wa:
nominal at these prices and shaded con
sidsrably on call.
In barley the cash market was neglected
and inactive for in store barley and very
quiet for sample lots. No. in store
nominal at 83c and Nose about So, fntrra;
we're in fair request.
In the provision market the movement
rather favored lower prices. In the neal