St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-12-04
NAY WHEAT SAGS OFF.
Heavy Carrying Charges Are
Too Great a Load for
Bulls.
After Some Solid HammePing
Early Buyers Became
Active Sellers.
Sluggish Prices on Wall
Street Helped ty Rem
Traders.
he Advent Of Cold Weather
Materially Assists Coal
Stocks.

CHICAGO, Dee. 3.-The heavy carrying
barees were found too much of n load for
he bulls 10 stagger under, and tins was the
ause OF a radical drop in the price of wheat.
Inside news was mainly in favor of better
noes. hut sellers at the odds offered in their
vor were too many for the farmers friends,
no, after valiant attempt 10 lift The bur
On Of sc premium for May wheat. were
reed 10 drop il, and in the end ii looked as
their hearts as well as their backs had
token under the early strain. Wheat de-
iiled Use ard corn Ssc. The wheat market
ened strong. but without being specially
tive. The opening quotation for May WAS
I.ut Is, which was ISc over the previous
.ternoons closing quotation, and
the price named there was not
noueh 10 supply the demand. There was
0nSeQuently an advance which proceeded
nil Sl.0l14 was being paid. There was
faction II i5c from the price last quoted.
nj for considerable time thereafter Sl.0l
So SLOTS were maintained Us the trading
riees The news coming TO hand about the
me the foregoing fluctuations look place
rs in favor OF an Advance, and 1t was APP
iIenlly regarded in mat light by some very
Irewd and experienced traders who were
bSeNed buying freely. Under the influence
their purchases the price advanced 10
i.oll2 aud the December delivery narrowed
OWN 10 Il discount OF Slice aud occasionally
Ac. There was perfect avalanche of wheat
II sale at the last named price for
ay, and it was very soon on the
own grade. Partridge was Il free seller
g. hen the market hooked It's strongest, and
hutchinson also came in on the bear side on
ne advance. After a good deal of hammer
ng by the Iast-named parties some of the
arly buyers turned around TO the selling
dc, and when the price had from these
auses lcen forced back 10 around 81, Ream
as thought TO be slipping out of his line of
.,ng stuff. As soon as the scalpers had mace
..emSelves sure of the aforementioned cir
nuisance they jumped on the market with
he accord and the haste TO sell soon caused
decline to 99Isc. During The closing hour
was very active, but weak. May declined
. $3.50 and December to e95Sc, both clos
ig at the bottom. The corn market
9as well supported in the face of
what was going on simultaneously i'll the
- heat pit, but after all il sustained Il loss OF
early S4c, and was around its lowest point
L the close of The session. May opened ir-
egulaTly at range of from 5Jl2e to 5334c,
nth The bulk of the transactions at 53s4c.
fOT some time succeeding the opening burst
'usiness was slack, but prices were firm and
Tadually advanced, and for an hour or more
ne price was well sustained at about ole.
ONE sales were effected at 54lSc. and il was
d until wheat became so very weak that the
rice OF corn finally worked back to around
3I2c. Hutchinson sold q little early in the
.ssion, but later he allowed The market to
Ike its natural course, which was mildly
downward as already remarked. There was q
rop of over lie from the highest price of the
;ay, 53c, between the closing quotation,
" hich is &c under the price it rested at yes
prday. Oats were traded III moderately, and
rices advanced l4c soon after the opening,
wing 10 the strength in corn. The advance
cOught out good selling by large operator
AhO has bought for several days past. The
weakness and decline in wheat, and corn
lso had depressing effect. and values re-
eded a4c. At the decline, trading was mod
rate, and the market closed quiet at about
inside figures. Pork-In the aggregate there
vas fair business, but the feeling was some
: hat unsettled during the latter part of the
-essIon. Early i'll the day prices ruled 5@
i2c higher. Later, prices gradually reacted
Z @2.I2c, and the market closed rather
uiet Lard-Quite an active trade was re-
'Orted and the feeling was somewhat unset
ed. Prices ruled 2I2@5c higher shortly
fler the opening. LaIer prices receded
ally sc 10 7l2c and the market closed rather
asy. Short Ribs-A fairly active trade was
ported, and prices averaged lower. Open
:lg sales were made at 24ac decline, which
followed soon by an advance of 5e Later
he market ruled easier and closed quiet.
The leading futures ranged as follows: