The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-12-03
BULL SIDE WEARY
LIQUIDATION TOOK A CENT AND AN
EIGHTH FROM CHICAGO
WHEAT.
PIT RULED DULL ALL DAY.
LONG DECEMBER WHEAT FREELY
DUMPED ON THE WEAK
MARKET.
PIT RULED DULL ALL DAY.
THE COARSE GRAINS IN SYMPATHY
Corn and Oats Closed Fractionally
Lower, but Provisions Resist
ed the General Slump.

CHICAGO, Dec. Wheat ruled weak all
day and closed at decline of 11sc. 1t was
due almost entirely to liquidation, as the
news as a rule favored higher prices. The
weakness was communicated to other grain
market, corn closing Ac lower, and oats &c
lower. Provisions held up stubbornly, clos
ing sc lower to &C higher. For short time
after the opening today wheat was strong
and higher. Liverpool opened Ad higher for
wheat futures, and the effect of that upon gen.
eral sentiment was at once seen in half cent
ri.e in the price of May when trading com
menced. For about fifteen minutes it looked
as If yesterdays sickness in the bull herd
had passed, but such was not the case, as
subsequent events quickly revealed. The
first transactions in May were from SS%QS4c.
But in half an hour, May was down to S2s4@
S2Ac, and in another half hour after rally
ing to S314c, it slid off to S23sc. Liquidation,
and that alone responsible for this de-
cline. A good deal of long December wheat
was thrown on the market in the forenoon
and those who expected to get wheat on
their purchases for this month in time to
ship it East before the close of navigation
were among the sellers. Longs, who had
any profits left, were inclined to realize.
while those who had a loss also sold out,
fearing that the loss might be increased, as
the speculative situation seemed very un-
promising for the moment from the bull
standpoint Receipts at Minneapolis and Du-
luth amounted to only BIG cars, as compared
with 445 last week. and 1913 last year. Chicago
receipts were 81 cars against 81 cars last
week, and 173 cars last year. These figures,
however, had no effect on the market. By
II o'clock the price had worked down to 837 q,
the feeling continued weak and depressed in
the afternoon although the price recovered
&c from the lowest point, May resting at
3s@S214c, or &c below the price at which it
stopped yesterday.
Trading in corn was spiritless. The gen
eral tone of the market was heavy, partly
in sympathy with the decline in wheat and
partly because of an expectation of heavier
receipts, induced by the dry, cold weather.
May opened a shade lower at 269sc, and
and recovered from that to 263sc, where it clos
ed. Oats were heavy and lower, with a
big business transacted The feature Of the
market was the free liquidation of May by
the crowd in general, which caused an indie
pendently weak feeling. There was a slight
improvement near the close. May opened &c
higher at 21Kc, declined to 211s@21Mc, and
closed easy at 213sc bid. repetition of
yesterdays slump was looked for In prov1-
sions at the opening. The days run OF hogs
was almost unprecedented, but it's effect was
felt only at the opening. Strong support was
given and the early decline was soon recoy-
cred. At the close May pork was &C higher
ct S914c; May lard, 215c lower at $415@4.1719;
May ribs about &c lower at $4.05G40712. Es-
Inmates: Wheat, Is cars; corn, 200 cars; OATS
40 cars; hogs, 43, 600 head.
The leading futures ranged as follows: