St. Paul daily globe., 1892-01-05
Chicago Traders Engaged in
Election Hustling Nearly
All Day.
Grain Pits Deserted, and in
Consequence Prices Went
Downward.
All Cereals Lacked Strength.
and Some Heavy Losses
Are Noted.
New York Stock Market Is
Still Booming. Strong
and Active.

CHICAGO, Jan. 4.-Unusual interest was
manifested in the annual election of officers
OF the board of trade today, and, as a conse
quence, the trading pits were more or less
deserted during a considerable portion of the
session, and the business transacted was of q
holiday character which has prevailed fo1
the past two weeks.
Wheat was slow and weak and lower
prices were made. Cables were lower: for.
eigners were reported selling in New York.
domestic markets all ruled heavy and de-
pressed and the shipments from India last
week were $4,000 bushels against 800 600
bushels for the previous week. An increase
III the visible supply of about 100000 bushels
was estimated last week, but as the reports
began to come in it became evident that this
was too low and that it would be double that
amount. Longs were generally disposed to
unload, but there was only moderate de-
mand and the pressure was sufficient IN
cause general decline.
George Ford and Harry Lester were among
the best buyers of the day while nearly every.
body seemed to be selling. Schwartz Dupee
ana some other commission houses with
foreign connections had European conti-
mental selling orders for wheat futures held
by them which had been bought in anticipa-
ton OF the Russian prohibition of exports
May opened Mc lower at 957sc, strength ened
to 94s4c. sold off gradually to 94lsc reacted
and closed easy at 94S8c. Corn was dull and
weak. The heavy feeling i'll wheat, the gem
eral-apathy in speculation. and the distract
ing influence oil the pending election were
al! weak factors. The receipts were 333 cars,
with 29 cars of contract, and the offerings
were free with the demand limited on buyers
hes1tating and cautious. January was rela-
lively weaker than the more distant fut ures.
due, 1t IS Sald to deliveries OH contracts The
tendency of the market throughout the day
was downward and the close was at bottom
figures with January showing loss of lie.
while May is only 14c lower.
Heavy selling by longs and some hammer
ing by bears caused bad break in oats. The
depressers of the market were aided by the
weakness III the other cereals. the unexpected
neaVy receipts and the estimated large re-
celpts for tomorrow. The tendency through
out the session was downward, Its speed be-
ing accelerated as the dav progressed The
close was nearly at bottom prices and at a
loss of 2Ic for January and 1c for May, COM
pared with Saturdays Close
Hog products opened up weaker because
OF the showing in the monthly report of the
stocks of provisions on hand in this market
The report indicated gross increase OF S.
00o0O0 pounds of all kinds of provisions
during the month of December The
quantities of lard and ribs especially were in
excess OF the estimates. After small recess
sion In the early trading, however, shorts
took advantage of the situation to cover and
the result was rally, the market closing
at the top and generally at some improve
lard, which is UNCHANGED. Estimated re-
ceIpts for tomorrow: Wheat, 220 cars; corn,
3o0 cars; oats, 272 cars; hogs $4,000 head.
The Leading f1turpS ra aDDpd fO1lorc-