The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-12-17
FOOLED THE BULLS
WHEAT AFTER A MATERIAL AID
VANCE INDUCED IN A SUD-
DEN SLUMP.
MAY AGAIN UNDER EIGHTY.
GENERAL ANXIETY TO UNLOAD
RESPONSIBLE FOR THE SHARP
LIQUIDATION,
MAY AGAIN UNDER EIGHTY.
BREAK AscRrBED TO ARMOUR.
RumOr Backed by Free Deliveries
Made by Him on December Con-
tracts-Grains Weak

CHICAGO, Dec. 16.-After encouraging the
bulls today with an advance of &c over yes
terdays close, wheat broke suddenly and
sharply, closing at a net decline of PIC.
SPECTATORS rather overbought on Hessian fly
damage reports, and the anxiety to unload
started the general liquidation, which result
ed in the slump. Corn and oats SYM
pathetically weak, closing about PC and Ac
lower, respectively. Provisions closed at sub
stantially unchanged figures. Wheat started
weak, because of a decline of I'D to start
with at Liverpool and further break OF I'D
which was likewise known before the start
here. 1t opened at from S01ac to SO5sc for
May, as compared with Use at the close yes
terday. The commission houses generally
had selling orders and the local professionals
were feeling bearish as dullness is looked
for until the holidays are over. But the sit
uation soon changed for the better. North
west receipts were light to begin with. Min
neapolis and Duluth reported but 81 cars
compared with 629 last week and $50 last
year, Chicago receipts were equally bulish
&c cars, against q last week and 2G5 on the
corresponding day last year. The chief
strengthening factor, however, was the news
OF damage to the winter wheat in Ohio and
Indiana Illinois and Missouri Letters and
dispatches were received showing injury from
Hessian fly, as well as from the late cold
deal scattered, and raised the fear that the
trouble was possibly serious and widespread,
and started the early sellers to covering re-
Euiting in an advance to size. 1t turned
at that point, and turned emphatically. drop
ping, by 1890 O'Clock to 8GISc.
The break could not be traced to anything
Deyong the general and almost simultaneous
desire that seized the crowd to take profits
on early purchases. The seaboard exports
We're very heavy. amounting to $4,000 blu, in
hp2T mr. aI,,
New Orleans and Newport News The de-
cline at Liverpool and shade lower quota
uohs at Paris were the only bearish feat
ureS of the days news, and LIVERPOOL in the
end was only from I'D to I'D lower than #
closed yesterday. Altogether, it was rather
an 1neXplicable break, and when such a
Ihlhg occurs 1t is usual to ascribe it to Ar
mour and there was no exception to that
To-Day, all the more because Armour & Co.
again sent 100000 blu or 900 blu to those
VINO had 1t coming from them on December
contracts. The price finally got down to 1895
and closed weak at 797kc.
corn was more active than for some time
previous, put the tone was heavy and the
tendency downward. The heayiness was ir-
respective of light receipts, liberal export
cIeafances and fresh sales for foreign shin
ment reported from New York of eighty
t HostIoads: all this being overshadowed by
the weakness Of wheat. May opened a shade
lower at 253s@254c sold at 25a4@257sc. then
oecllned TO 2512c. where it closed. Oats were
a a' with good business transacted, the
Dulk OF which was of a scalping nature
through sympathy with wheat and under the
lnnuence OF heavy offerings the market ruled
weak and prices closed 4Gssc lower than
they did yesterday. Atlantic port clearances
We're $4,000 bu; May opened unchanged at
ZUt4c, advanced to 201ac and closed EASY at
zoe bid. Provisions were very dull, but a
nrm undertone existed. The feature was the
smalness of the offerings, which served to
hold prices steady during most of the session,
d dfi We're more or less affected by the
cholera claims. The extreme weakness of
wheat had its effect late in the day, and the
slgnt opening advance was lost. May pork
changed at $4.05; May ribs unchanged at
S4O212 Estimated receipts: Wheat, az cars:
corn 20 cars; cats, 1926 cars; hogs, SO. 600.
me leading futures ranged as follows: