The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-12-31
DROP IN DECEMBER
TWO CENTS CLIPPED FROM THE
PRICE, THE BULL SIDE
CONSERVING.
JANUARY AT A DISCOUNT.
FIVE-CENT PREMIUM OVER MAY
FOR THE OPTION ALL
WIPED OUT.
THE MARKET DULL BUT NERVOUS.
May a Net Half Lower, After Little
Bulge on Heavy Export
CIearances.
JANUARY AT A DISCOUNT
THE MARKET DULL BUT NERVOUS.

CHICAGO, Dec. 30.-At the close OF dull
but nervous and irregular market today, May
wheat showed k@5sc decline and December
was &c lower Practically no support was
given the market, and very little selling suf-
fcient to cause sudden and sharp breaks.
Other grains and provisions were dull and
trife easier. corn closing &c lower, oats Ac
lower, and provisions unchanged to 21aq5c
lower
In wheat Liverpool showed about sd de-
cline at the opening here, which, although
little more than half Of the drop here yes
terday, apparently the cause for the
easiness at the start. First trades in May
were made at from 923sc to 925sc, or &c un-
der yesterdays closing price Besides the
decline at Liverpool the Northwestern re-
ceipts were quite liberal Minneapolis and
Duluth reported $50 cars, compared with 4O7
last week, and 261 year ago. Another good
sized addition was likewise made to Chi
cago contract stocks. Receipts here by rail
were 100 cars, of which At were contract.
The quantity of contract wheat added to
stocks in regular houses amounted to about
100 GOO blu. Cablegrams were received re-
porting reductions in estimates Of Argentine
crop; of hot winds damaging wheat in New
Zealand; of unfavorabe weather for crops in
interior of Russia, and of small stocks at
the port of odessa, the present amount of
which was reported at. 4,32000O Blu, against
II, 800 coo blu at the similar time year ago.
The export clearances from Atlantic and gulf
ports were exceptionally heavy at the equiva-
lent of $40, coo blu in wheat and -four. The
price of May was at 927sQ93c for few min
utes after the opening, but soon declined
again to 91Ac 1t rose again to 9234c on &C
count of the enormous clearances, but weak
foil 1hpr yt11aa ar
acted about as 1t has been doing for some
days, that is, as if inclined to drop its prem
ium over May. The trading in it was small,
and as it could easily have been advanced
to almost any desired price by the buying OF
perhaps less than 100000 blu, the bull party
was evidently favorable to its decline. 1t
sold very sparingy at sc to begin with, and
droped to 94c in the disposal OF g. few fives.
January, from having been at from &c to &C
premium over May, fell at one tine today to
slight diseout. 1t looks as If January wheat
would, as a matter of policy, be allowed TO
drop a few more points to remove the in
ducements for immediate delivery. May, on
the second decline, got down to Size A lit
tie better feeling was noticeable just before
the c;ose May recovering to 921s@92Ac under
some covering by shorts. Those were the
ruling figures at the close.
Corn was rather neglected by traders and
ruled dull, with very little of interest hap
pening. There was some show OF hrmness
a short time after the opening but for most
of the session the market inclined to
eas:ness, wheat being the principal factor.
May ranged from 297sc to 1850, and closed
Is lower at 1880. In oats trading was fairly
active, though prices were Kept within
comparatively narrow range. The tendency
was downward in sympathy with wheat, but
there were plenty buyers at any concessions.
Offerings were ultimately too much for the
demand however. Elevator people sold con-
siderable. May ranged from 2SBc to Z91ac'
and closed Ac lower at 233sc
Provisions were very SOW and kept within
a narrow range. Prices were affected in
small way by the decline in wheat, but the
firmness of hog prices prevented any material
decline. Market closed steady. May pork,
&C lower at $685. May lard unchanged at
s4.771a, and May ribs unchanged at $3.50. Es-
tmated receipts Friday: Wheat, 115 cars;
corn, ATS cars; oats, 1863; hogs, 10000 head:
Total sales of stocks today were 162, 400
shares, including 1855 Atchison preferred,
%, $50 Manhattan, 1908 Metropolitan, 4,43S
14,34O Tobacco, $50 Chicago Great Western,
10, Pei Peoples Cas- 3,74 Consolidated Gas,
II, 1876 Sugar.
The following were the fluctuations of the
leading railway and industrial shares fur
nished by c. H. F. Smith & Co.. members
New York stock exchange and Chicago board
~ frada