St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-02-09
BEARS ATTACK CORN
And the Ceral Declines 5-Se
From Tuesdays Final
Figures.
An Easier Feeling in Wheat,
With Only a Light
Business.
Provisions Quiet, Closing
Practically the Same as
on Tuesday.
The Stock Market Was lnfiu-
enced by the Gold Rove
ment.

CHICAGO, Feb. "A bear raid in corn
Ied by \. b. Ream was what attractde
the most attention today on the BOARD
of trade. The cereal closed at decline
of &c compared with yesterday. Wheat
and oats show loss of &c each. Pro-
visions opened strong on the very small
receipts of hogs, but ended at substa-
TALLY yesterdays prices.
In corn there was, for the first hour
and a half, only a fluctuatiOn of sc,
but the support which was pronounced
ND to this time, was withdrawn, and
then came a rapid and material change
in the appearance of the pit. Ream,
Barrett. Champlin, Parker, Bryant and,
following them, the entire scalplng
crowd commenced to sell. and pressed
their offerings so persiStently that
break followed as a natural conse-
quence Trade became suddenly brisk
as the price declined, and from 47c for
Nav down to 4G35c there were heavy
transactions. July sold off less, the eff
forts of the short sellers being directed
mainly toward depressing the May
future The weakness kept deepening
up to the close. Ream was reported to
be a heavy gamer on the covering of a
line he had been previously short The
receipts were small, 1G4 cars, and only
2l0 are expected for tomorrow, but COM
ment was made that moderate quota
tons of corn are going around chicago,
with stocks at the SeabOard accumulat-
ing. Then, too. low grades were OF
fered for forward delivery at wide
discount from the price of the specula-
tive grade.
There was a liberal trade i'll oats and
n lower range Of prices, due to increased
offerings and to sympathy with corn.
The market opened steady at sc adj
vance, declined 1403sc and closed easy.
The receipts were hgbt-49 cars-and
made the opening steady, but the selling
was too free for prices to hold up.
Parker sold 100000 bu, presumably for
Ream.
Only a light business was transacted
in wheat and the feeling developed was
easier. Fluctuations were confined
within &c range, the opening being
about the same as yesterdays closing,
then advanced about sc, eased off and
declined 15@@gc, ruled steadier, and the
closing was about lie lower for May and
IlsQCl4C lower for July than yesterday.
The receipts in the Northwest were
larger. but it was said this did not
signify anything more than than that
the cars which were blocked on
account of cold and stormy weather
were coming forward now. Cables gen
orally were lower, and, while some re-
ports of damage were received, there
was not much confidence placed in
these rumors, 'Sh0rts," however, did
some covering, they evidently having
some fears that crop scares might de-
velop and create higher prices. As
rule operators were watching and wait
ing for developments, each one waiting
for the other To act. The large traders
were doing but little and letting the
market take care of itself. The uncer
tainty Of the option bill eXertS
some influence on the market.
Provisions were Irregular and feature
less, The bulk Of the trading was cred
tied to local operators and largely in the
interest Of parties who were willing TO
accept small profits or losses.
Estimated receipts for tomorrow:
Wheat, III ears; corn, 210 cars; oats, 81
cars; hogs, LEGO.
The leading futures ranged as follows: