The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-12-30
WHEAT MARKETS TUMBLED
The Besrish Influence Drove Down
the Prices.
OATS WERE The STAYING QUALITY.
Trading Was Narrow, but the Drift
Of the Market Was In Favor OF
the Dearish Element.

Chicago, December 29---Wheat today was
apparently held UP for a time by buyins
furry In oats. in the last half hour the
beading brokers OF the bull clique In wheat
started 10 sell some May. and the crowd
emulated and In the end surpassed their
efforts IN that direction. December wheat
was left AT u decline of 3Ac and May &c.
Corn declined &c. Oats IN TIE end were
left at practically yesterdays closing
prices. Provisions ruled strong after a
weak opening and made substantial gains.
Wheat was shade easier at the opening
because OF Il decline of I'D in Liverpool.
There was nothing else OF a beai'ish CHAR
acter IN the news that the straders had
before them at the opening, and the mar
ket IN consequence ruled Arm during the
forenoon within a narrow fraction OF the
starting price. The opening OF May was
at 94i6U9iA, compared with Yesterdays
closing price OF 9ih A spell OF weakness
around the opening carried the price dow1
10 9diS, w1en the strength which devcI-
oped In oats affected wheat aud the mar
ket recovered In a short time to gilsmaiA
and kept close to these fractions all the
mcrring.
Trading was exceedingly narrow
Traders who favored the bear SIDE. how
ever, learned a lesson from the buzzsaw
tendencies DEVELOPED yesterday and keptl
away ana In the absence of any iInpor
thnt buying demand the market vas nj
most stagnant at times.
Chicago receipts We're much smaller To-
diN than estimated. The number OF ca Is
received by rail was 1856 aud out of tha
81 We're contract. The total addition Tor
the day to the contract stocks in regular
elevators was estimated at 49, go bushels
minneapolis and Duluth reported ~ cars
AGAINST Az the corresponding Gay Of the
col M
laitfiC port clearances OF wheat ard uour
Were equal TO 1000 bushels. Ins he,ped
10 SLsiain prices.
The estimates OF the Argentine export
ntln surplus circulated yesterday max, ~
1, 0On bushes We're less generally ac.
cepted today. All the other estimates from
reliabie and usually we'll informed sources
axe Argeintine's export capacity for tine
- 100000 and $4,000 coo.
ne marked began to weaken In tie M.
.ernGon, when closing cables indicating
rs'.es easy Tor the foreign markets wf"'
received. Inc bearishncss that started
cohhhued TO increase as the session near
ed its end. and whereas no one dared ia
touch II IN the forenoon, tho whole crowd
sot after II when they saw i; was on the
Allen Grler for the bull clique pnt n
big line on the market at 1905. to which
May had declined Meanwhile that option
drorred Ike Il shot to ag3s, eyervboJy taL.
Ing a Kick at It. Then il rebota,ont ana
iuHt at Inc close it sold at a2a, a decline
OF ns,. ,tttle was done IN Decemher BIT
u Was also heavy. Armour & co. Were
Rtc II opcped a. 10. declined to 81, ana
ttrcay 80
Corn was inclined to be weak rhei,
was n good sized scalping trade. with
prices easy early ON liuliidation. viii
steadiuess lietor with oats then wsaiScn,,o
iinaily WIN wheat considerable pro.,. yak.