St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-12-17
The Sellers of the Speculative Privileges
Express Themselves as Very
Sorry They Did It.
Lack of Outside Support and Steady Rise
of the Visible Supply Caus-
ing a Decline.
Wheat Loses Cent, Corn Growing
Weaker, Oats Dull, Provisions
Tame and Lower.
Tue Stock Market Active, Strong and
Higher--General Financial
Matters.
Chicago.
Special to the Globe.

Special to the Globe.
CHICAGO, Dec 16.--The bears were still
very well satisfied on the board with thel1
profits to-day. May wheat closed last night
at Gle and the sellers of privileges sold
puts at 9O1(@90%c. Within half hour
OF the opening these very same privilege
traders were swarming into the wheat pit
TO protect themselves. May sold halt
dozen times at 904c in the course of the
day. Wheat opened sc lower this
morning than it closed yesterday, and after
making a brief stand the market took
another drop of 1Sc before noon. 1t
displayed considerable strength at
times during the morning, but the pre-
vailing tone was one OF weakness, and
the bears had the call. Trading was livelier
than ii had been for some time past, and 1t
looked as though the big fish were stirring
up the pond. Hopes that were entertained
as late as last week that stocks III store had
reached their maximum limit are evaporat-
ing into thin air. Receipts are falling OF,
but not as rapidly as the bears anticipated,
and another large increase in the visible
will undoubtedly be reported as a result of
the current weeks movement. Additions
TO the huge pile are not calculated to fill the
breasts of the oppressed bulls with joy, but
they are
NEAT AND DRINK
for those who insist that prices must seek
the export level before trade can be restored
to healthy state. The bears had the
market to-day. though there was free abb
sorption of offerings, and, as a great quan-
tity was thrown into the pit, the question
where it went to is beginning to interest
ha Of tho frodn For tho last bn1lr
and a half the privileged traders held the
market, and fluctuations were within ex-
ceedingly narrow limits. They worked
back and forth and in and out, but refused
TO release the market from the peg upon
which they had it hung for the day.
Hutchinson bought 300, 900 or 400, 900 BUSH
els and sold it again Immediately without
moving quotations more than &c. Trad
ing in privileges last evening was unusually
active. and the brokers were strong enough
to prevent break very far below put
price. They hung it right at that limit
for an hour or more, but subsequently let it
drop fractionally. On the late board weak
ness characterized the pits, and under very
light trading wheat dropped 15@4c. The
close was weak at $500 for December,
S35sc for January, sac for February and
90@901sc for March, decline of 1@1Ac
from Tuesdays prices
CORN OPENED LOWER
in sympathy with wheat, and year showed
considerable weakness, but later on de-
veOped unmistakable strength. Norton
X Worthington took everything that was
offered. The shorts imagine that an UNI
bilical cord still connects this house with
Lester u Co.. and that the Lester, McCOr-
mick, Kenneth 81 Co. deal has been gal
vanized into life, and they. too, bought
literally. The Griggs Bros. took consid-
cradle year and January at the top, and
were buying right to the close. There was
quite a little life in corn to-day. This af-
ternoon year fell off &c. but the feeling
was one of tirmness nevertheless. Latest
figures are. $500 for year, $3.50
for January, size for February,
4O1Sc for May. decline of 35@5sc from
yesterday. There is nothing new in oats.
The stock yards fairly bristled with hogs
to-day, and the procession of porkers threat
ened TO stretch away to the break of dawn.
Provisions opened lower clear down the
list, pork being T15@10c and lard and ribs
21@05c Off A still further small decline
occurred, followed by an upward reaction,
prices closing at l o'clock about where they
began in the morning. The aggregate of
speculation was large. January pork
closed at 80. S215, February at S9.92155,
March at $1,000 May at S10.2719. Lard
closed at Sc for January, S6.10 for Feb
rllary, Sol bid for March. Ribs closed at
S4.S5 for January, S4.95 for February,
S102112 for March.