St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-12-22
Early Confidence Shaken by
Heavy Receipts in the
Northwest.
Trading Was Also Dull and
Narrow, and Selling Or
4 derS Numerous.
Demand for Corn Is Light
and Price Lower--Popk
Gets q Little Lift.
Lots Of Activity in Stocks at
q New York, With Heavy
Realizing.

CHICAGO, Dec . 1.-The wheat market wBs
a trifle firmer at the opening this morning
than at the close on Saturday, and for time
a strong market seemed probable. Cables
reported an advance in Liverpool, with
higher prices at Berlin and Paris Trade,
however. was dull and narrow, and when
the heavy receipts in the Northwest. together
with an increase of 100 carloads in the re-
ceipts here, became known. confidence was
somewhat shaken. About the same time the
last weeks shipments from India were re-
ported at 2.O57, 900 bu. or more than double
those of the week previous and the heaviest
on record from that country. This had a
very weakening effect especially as free
selling orders were received from New York
at about the sumo time, and prices sagged off.
Clifford alone was credited with selling 500
600 TO soc, 600 bu during the first hour.
Then came a correction concerning the
shipments from India, making the amount
l,12l,0)0 bu, which brought about better
feeling temporarily But confidence had
been shaken, the longs were alarmed and be-
gan to unload, and under the pressure there
was decline OF fully 1c from the opening.
A report that closing English cables were
weaker helped the development of the bear
sentiment although Berlin and Paris were
quoted higher. During the last hour there
was some reaction. and the close was steady
u oOluS improvements Oh tue lowest
MAY started at 975sGl917Sc, sold off TO 97Isc
reacted TO 91ssc, weakened to 9Ss4c, advanced
TO TAc and closed ut &c. Late cables were
generally strong and higher, the advances in
Berlin and Paris being quite heavy.
Corn was quiet and easy. The offerings
were rather free and the demaud light The
receipts were considerably over the esti-
mates and the grading showed continued
improvement in the condition of The moving
crrp. This made investors shy, causing dull
ness and weakness. December opened I'M
changed at Acc, sold off to 45I2c. remained
steady for a time then on free selling by
COngdon broke to 4314c and closed at 43I2c
January closed with a loss of IsQssc and
May lost 14c.
Oats were dull and steady
Hog products opened steady to firm. "'he
receipts OF hogs were about as estimated and
prices were steady. Then a notice from
Samuel Shoeneman, an old but not very
heavy dealer in provisions, was posted,
lnstructng those having open trades with
him 10 close them out and send the accounts
to his office. 1t was not understood in the
pit 10 be failure but that Mr.. Shoenemau
chose this method for closing up his business
and retiring on what is understood to be
snug fortune, though there were various
old gentleman, who is said to have gone out
side of his customary dealings in the pro-
vision pit TO dabble in options on corn to his
disadvantage. At any rate the trade was not
slow to close It's deals with him, and the
market being narrow. the price of pork was
advanced 25c per barrel by the process 1t
sagged off some later, but closed near the
top. Lard aud ribs were also firm and
higher. Estimated receipts for tomorrow:
Wheat 2SJ cars; corn, 400 Cars; oats, 2l3 cars;
hogs, 1900 head.
The leading futures ranged as follows: