St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-12-27
THE COMMERCIAL RECORD.
Big Dealers Dump Their Holdings OF
Wheat on the Market, Causing
Decline of Five Points.
Corn and Oats Close Easy, All Manner
Of Hog Products Taking a
Tumble.
Financial Operations in the Monetary
Centers---T General Quota
tons.
Special to the Globe.

Special to the Globe.
CHICAGO, Dec. 26.-It was just o'clock to-
day when May wheat sold at the bottom
point, S1.02A. This was just &c under
the closing price on Saturday. There was
but s4c loss at the opening this morning,
with May at sI.O7l2. The order of the Gay
was TO sell everybody appeared to obey.
The first hour brought out an amount of
long wheat from all quarters. The price
went off to s1.O57s quickly. Then there
was a rally 10 SlC6A. After some hesita-
ton, the offerings began again and the price
reduced 10 81 .O5, and selling on stop orders
put it down to 81 O4s4 This was the
second stopping place. After rally of Ice
to S1.O54 the third slide began, and the
price fell down l4c and Ice at a time to
Sl.O2L That was the bottom. little
rally carried the price TO Sl.03A, and the
close was at Sl.03 Other futures closed:
December, 973sc; January, 97s4c. The loss
i'm May for the day was SAC. The selling all
day long was led by Hutchinson. Jones.
Kennett and Hopkins sold heavily and
hurried the break from Sl.O6 to S1.O5.
Later, J. i. Boyd 4: Co. became heavy sellers,
and helped the price from Sl.O4 to the
bottom. The conundrum was whether the
Fairbank wheat was unloaded. MI Fair
bank was on the floor and said he was not
selling to-day Bloom claimed that Fair
banks wheat was sold several days ago.
W. T. Baker said the market was already
lower than he thought it would go.
Altogether it was a big break. Oats
dull, weaker and declined 4c, but rallied
slightly and closed easy. Offerings were
large and buyers Indifferent about taking
hold Receipts were large and percentage of
contract grades small. May sold at 2o1sO
29lsc, closed at 29c. There was pretty free
selling of hog products to-day, which re
suited in general decline in prices. Com
pared with Saturday, the closing figures to-
day were 12I2Q15c lower for short ribs
l502oc lower for lard and 3 @32l2c
lower for mess pork May RIBS opened steady
at S7O7l2 ana closed at $685.. May lard
opened 2lac lower, at S7.97l2 and closed at
S7.S2l2 Mess pork sold from $3.50 to
$3.50 for May while January closed 32l2c
lower at $3.50. Corn was quiet and steady.
with transactions largely of q scalping nat
IRE Offerings were light. Receipts were
LOGS cars for two days.
THE ROUTINE REPORT.
CHICAGO, Dec ga weak and heavy feel
ing existed in wheat to-day, and prices de-
clined to point 5s4c below closing figures
OF Monday, and closed 5lsc lower. All the
markets were in pretty much the same weak
and demoralized condition. The increase in
the visible supply was larger than had been
expected. though this was known Monday.
but it had a weakening effect AS prices de-
clined long" wheat came upon the market
and the speculative offerings were very
heavy. Part OF the wheat was brought out
by the exhaustion of margins, and there was
no doubt good deal of wheat closed out by
parties who did not see indications ahead for
any immediate turn for the better in the
market. One prominent trader was
credited with having sold very freely
his selling being estimated at from 2,OJO,-
900 TO 100000 Blu. Whether this was
short or long wheat it was difficult to say;
many however, believing them TO be short
sales. Other prominent traders who have
figured conSpicuously oil the bull side, ii was
claimed, had not sold much wheat. the open
ing was about s4G1lc below Satu days clos
ing, and soon declined ll4c more; then held
steady for while between Sl.057sG O6A
for MAY but later again became heavy, de-
clining TO 81 .OlS4. Here the market remained
for while, but again weak spell occurred,
prices declining 23sc. The decline was very
rapid the feeling panicky, and il was almost
impossible to execute orders ut times when
the market was most excited at the limits
given. From Sl.O2Ss for May the outside
figure reached, prices rallied lie very sharply,
again eased OFF, and closed 5lsc lower than
the closing figures saturday. Outside IN
tluences apparently had but little effect,
and received but little attention.
Corn ruled quiet and rather firm Trading
was only moderate and chiefly local, with
fluctuations of Il light nature. Prices after
the market ruled quite firm, advanced He,
became steady and closed iS0Ac higher than
Saturday. In oats dull, weak feeling pre-
vailed, and prices declined l4c. The weak
ness and heavy decline in wheat caused
operators TO hold of, and II required very
light offerings to cause the decline. Consid-
cradle pressure TO sell early in the day. main
ly on local account, caused an easier feeling
in mess pork ana prices declined j 632l2c.
The demand was only fair and chiefly from
shorts. Prices recovered 2l2Gl5c from the
inside figures reached and the market closed
comparatively quiet and steady. moder-
Htely active trade was reportedi in lard; prices
receded l7l2020c per 100 los; rallied about
2l2c and closed steady. Trading was fairly
active in short rib sides. Prices ruled some
what irregular and declined lU0l2l2e, and
closed quiet at inside figures.
THE GENERAL QUOTATIONS..
Wheat--No. December opened at .Ooss
closing at 97ssc; January, 81 .006S, closing
ut 97Stc; May, Sl.O7ss, closing nj Sl.03
July. 95i2c closing at 93e. Corn-No. 2
December opened at 33s4c, closing at 33S4c :;
January, 337Sc, closing at 34lsc; May Bose,
closing ut SIC. Oats--No. December
closed at 25SSc; January, 25ssc. closing at
255sc; May, 29lsc, closing at zoe. Mess
Pork Per jBbl-December closed at ST. 90 {;
January, S13.22i2, closing at $3.50;
May Sl3.6o, closing at $3.50 Lard, Per
1ON lps-BCCCuluCi,op at Cc.--,bs CIOslilS
at SS25; January, 81 9Gl2, closing at
s7.72ls; May, S7;92l2, closing at $50;
Short Ribs, per 100 Lbs-January opened
at $500. closing at 6.77t2; March, S6.97l2.
closing al So 80 Nays. o7l2, closing at $6.97
Cash quotations were as follows Flour
firm andunchanged. Wheat-No. = spring,
97@97Ssc; No. 3 spring, s0Q96c; No. red,
97@97ssc. Corn-No. ,, 33ss0337sc. Oats
No. ., 25lec. Rye-No. ., 5Oc. Barley
NO. 2, 100, &c t. o. b. Flax Seed-No. l,
Sl.6l. Timothy Seed Prime, sl.4s0l 40.
Mess pork. per Dbl, SIS. Lard, per 100 lbs,
S.. %; short ribs sides, loose. Sc. s0@6 50
dry sailed shoulders lboXed), S6.75G16.s 7I2
short clear sides (boxedl, S7l2l267. 25.
Whisky-Distllers' finished goods, per gal,
Sl.2o. Receipts-Flour, 10000 bbls; wheat,
$4,000 bu; corn, 793,0oo bu; oats, 236.-
600 bu; rye. $4,000 bu; barley. $4,000 bu.
Shipments-Flour, $1,000 bbls; wheat
$4,000 bu; corn, 54l. 600 bu; oats. 24I,-
600 bu; rye 5000 bu; barley, $1,000 bu.
On The produce exchange today the butter
market was dull and easy, but without
change; fancy creamery. 2S63uc; good TO
choice, @2li2; fine diaries 22123: good
10 choice. 2O@22e. Eggs dull and un-
pboptrad l.. DOa