The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-12-11
WHEAT HURLED DOWN. ARD
Bull Clique Closed the Lid on Boiling
December Shorts.
LESS ATTRACTION FOR THE HOLDERS
some Disappointment Over the Poor
Response to the Advance nv Liv-
crpOol-Thc transactions.

Chicago. December lo.-After consider
able efforts the bull clique in the wheat
maittet today succeeded in closing the lid
on the boiling December shorts and get.
ting the pr!ce down to a poilt that does
not so openely Invite ali the contract
wheat in the country to Chicago De
cember closed at 1,oS, decAne for the
day of A cents, While May showed about
cent decline at the close. Corn and oats
were governed by the changes in wheat,
| but showed very attle change at the close.
Provisions were unchanged.
Wheat az the opening was a very UNI
certain quantity. II was generally con-
ceded that it was to the interest of the
bull clique to allow the December price to
settle down to a point where it would be
| less attractive for country holders to send
all their wheat of contract grade to Chi
cago, but because this was so pdlpabls
many others expected the opposite course,
and the result was a nervous market
There was some d!sappoiG tmeut over the
poor response OF Liverpool TO the advance
mere, which had some effect on opening
prices. The cary course OF December was
down, but very soon IL became strong
again and took only TWO skps in rec3v-
crlng from l.064 to los. 1t opened at l0l
the same figures at the C.Ose The day be-
fore, 1t soon became evident that the
priGe went up not because OF any manipu-
alton by The bull clique, but IN spite Of
ther efforts to keep ii down. They tried
1t again however, later in the session,
and had more success, the December Op
tion selling on that occas. on at Los. May
vas largely influenced by the course of
December. 1t opened = lower, at 92isn9214
Trade was very quiet for the first forty
minutes, during which May kept within
range of wa ana 81 rs. At the end of
49,, i.
together the crowd in the meantime
having got short. and rapid rise TO 93is
occurred in consequence. The bull turn
thus given to the market did not las
long II worked downward after thai.
Notwithstanding some rather bullish items
OF legitimate market information. Tho
Ordinary market news was principally of
a bullsh character but because New York
exporters did not report an active de-
mAnd fcr export, the encouragement from
elsewhere was forgotten L minute after
It was received. Live; pool advices co..
lirmed those of the day before regarding
heavy rains IN Argentina. There will be
practically no wheat to ship from this
years Australian crop, and San Francisco
repor'ed the purchase for shipment to
Cape Town Of three cargDes of wheat
giving corrohorltion to the news of a con
tinuation of last years dearth IN Aus
tralia. Northwestern receipts were 62S
cars against 795 week ago and 5S7 in
1876. Liverpool expects 5000 0W bushels OF
Chicago wheat sent to them, feeling easy
about supplies IN consequences. MAT mar
ket closed lad lower for futures, but Isi
Tor NO. ! Northern spring. Atlantic port
clearanCeS Of wheat and flour so 600. Con
tinentai markets showed moderate
strength and slightly higher prices. Re
ports that wheat was be ne started for
here, were circulated and made it very
easy for the Clique tor keep prices down
december got down to Los and closed n
That price. while May declined to 9l2s0