Kansas City daily journal., 1896-12-19
WHEAT OFF NEARLY A CENT.
SLUMP IN WALL STREET PARTIALLY
RESPONSIBLE.
Weak Foreign Markets Also n Factor
Corn and Oats Suffer Only n
Trine-ProvisiOns Unchang-
ed to sc Lower.

Chicago, Dec. 1S.-Wheat was the only
article on the speculative list that showed
any activity to-day. 1t closed with a zsc
decline, partly caused by the weak for
eign markets and partly through sympathy
with the slump in Wall street. Corn and
oats declined about &c each. Provisions
closed unchanged to &c lower.
In wheat, the early Liverpool news re-
oeived a bearish Interpretation. There was
no change in price noted in the first cable
from that point, which was distinctly dis
appointing to the bulls, although why it
should be was a mystery, as this mar
ket was weak on the curb last night on
the correction of the Newport News ex-
ports, which were found to be only 1905
pounds, or about 100 barrels, Unsteady of
10000 barrels, as reported. This disap-
pcintment was shown in the opening quo
tations for May, which ranged from 1870
10 SGIsc, as compared with yesterdays clos
ing price of S02sc, after lowering around the
SOC mark for a time, the price began to
advance, and in the first 45 minutes trad
Ing had reached SO5sc. The Northwestern
receipts were smaller than ever, and re-
ports from that territory were to the eff
feet that arrivals are now about down to
their average during the winter Mime
Rpolis and Duluth reported 1863 cars. as
compared with 537 cars last week and 729
on the corresponding day last year. Chi
Cages showing was equally low, forty
cago's showing was equally low, IS cars,
against As the same day last week and 1Sl
last year Shorts did considerable cover
ms being encouraged by a bettre tone to
later cables and to a belief which is quite
prevalent that the Liverpool opening had
been manipulated by this side. The price
had many HupfuatiOrS -Qa. apJ
S02sc during the forenoon. A report that
3.O0j.00O bushels had been engaged for eX-
port at New York was the cause of the
dlop to the last named figure. The mar
ket came completely under the spell of the
New York financial news and the weak
stock market in the last hour 1t had re-
covered TO sol. from its previous break TO
T9&sc. but went down again with a clatter
TO 7Sasc about half an hour from the close.
Crop damage reports We're more numerous
than before. The crowd refused, however,
to allow next years crop to interfere In
this sessions campaign, and felt and act
ed like determined bears The price rest
ed at 79l=c
Corn was extremely dull all day. the lit
tie business doing being in small lots and
chiefly of scalping nature. Sympathy
with wheat and the colder weather. with
expectations OF increased receipts mill
tated against higher prices and caused
the market May opened 1sc lower at 25asc.
sold at 25lac and declined to 25I4d252sc
where ii closed.
Oats opened lower, and after a rnomen-
tary display of strength sold off stiI fur
ther under free offerings. Later, under
heavy huyinE. principally by one broker
the market recovered. business as a whole
WAS duh, fluctuations being confined TO a
narrow range. May opened isc lower at
2nC advanced to 9plsc then declined IN 1g7S
gI2Nc. closing easy at 20C.
Provisions were affected by the dullness
in grain and n general disposition TO post
pone buying until after the holidays The
offerings and orders to buy We're both light
Pork, however. was the only staple show
ing any apprcciable change at the close
May pork closed 5c lower at S7S7I5: May
lard unchanged at H.WdiO2I9; May ribs
unchanged at S4Onn402i2.
Estimated receipts Saturday: Wheat, 81
cars; corn. 3lg cars; oats, 80 cars; hogs
y ON.