St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-12-11
Leading Markets are Dull and Dropping,
Raiders Getting in Their Work
Very Effectively.
War Gables Firm Up Prices at the Close,
But Wheat Loses About One
Cent.
Year Corn Drops on Sharply, Oats
are Dull and Provisions Weak
and Lower.
A Feverish, Exciting Day in Wall
Steeet, Prices Fluctuattng Rap
idly--Financia1.
Chicago.
Special to the Globe.

SpCSldl " InC OAOOS'
CHICAGO. Dec. 1O.-The leading markets
were dull and dropping to-day. wheat
opened weak and slightly lower on de-
pressed cables. Private advices confirmed
the reports wired for public posting, and
stated once more in the plainest possible
terms that Europe could get along without
a bushel of American wheat if compelled by
higher prices on this side to look elsewhere
for supplies. At the lowest point yesterday
the difference against Chicago, based on
Liverpool quotations, was about lie. An
increase of 1900, 900 bushels in amount
on passage to the United Kingdom, as
compared with last week, had dis
quieting effect, and severely shook
the confidence of holders. Light shipments
from points of accumulation i'll TINS coun-
try were held 10 offset lighter receipts.
The decrease that some expected to see III
the visible supply this week is not looming
up in the horizon of the future as promls-
ingly as it did few days ago. Altogether
the conditions were unfavoraole Tor holders
and a large quantity of wheat was offered
for sale after the opening. December de-
clined from SIC to S57sc, January from
S715c to seize. February from 884c to
S62lc. and May from $500 to 925sc by II
O'Clock. This marked a
DROP FROM YESTERDAY
of 15I@13lc The reported revision of the
government estimate, making the total
so. 600 900 bushels instead of 357, 900. 600
bushels. was used as club to put the mar
ket. and this may have served to frighten
out holdings. which literally poured in
upon The pit during the break i'll big lots
and small packages. This last rumOr was
not confirmed and on the receipt of batch
of war cables the market tirmed up. Hutch
inSon was given the credit OF being the
main stay of the market, and the bull talk
INDUCED in by Minneapolis millers who
were on the floor led many to think they
felt as they talked and believed
what they said though skepticS
who do business on the theory that every
man uses his vocal organs as blind in
sisted that Northwestern wheat grinders
were selling. At any rate the market
braced up and advanced sharply closing at
l o'clock about midway between the best
and poorest prices of The day, December
being quoted al S615c. January 66T9 S7c.
February S735 @S1 &c, and May at Size.
The market was depressed 15@2sc in the
afternoon by increased selling on rumorS Of
stock failures in New DIRK. 1t was not
confirmed and part of the decline was re-
gained, but last sales were 1g@3sc below l
o'clock. AS to the
YEAR CORN DEAL,
it dragged along YEARLY. There IS still a
great deal Of nervousness over 1t. a good
authority says that the corn recently held by
Lester but sold out day or Two ago, was
fer \. G.. Miller and his friends. This
Miller was the one who was Llndblom' S
principal customer in his successful January
corn corner. 1t is said that Miller was wiped
ont year ago. but made another fortune out
of the advance of stocks. Corn had strong
opening. year being started at 1920,
or 1Ic above the first official Quotations, but
it was sold down lc at once and later struck
41c. 1t recovered and hung around 41Hc,
closing at Al &c. January lost &c and
May sc. Business was only moderately
active and property was offered as fast as
the crowd would take it at the market.
This afternoon year corn lost }5c,
closing at 40%c: January, 3S74c,
February 81 sc, May 4036c.
Oats were soft and prices a fraction off.
closing at 2SIc December, 2S$4c January.
So. May.
The feeling III provisions was rather
weak and quotations on all products were
lower. Packers are displaying Increasing
indifference. and in the hog market as well
as in product they seem less anxious bid
derS. 4 better cash and speculative trade
Is the feature noted to-day. Pork closed at
So. 50 M9.92l3 for January and February;
lard at So 05Go6. Is for January and Febrrl-
AIRY: ribs at 81. 95@5. - for February and
March