The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-06-26
BATTLE BETWEEN THE BULLS AND
BEARS RACED FROM OPENING
UNTIL CzOSE
ACTIVE OPTION SUFFERED
Liquidation Caused Prices to Re-
cede Rapidly for Time, but
Strength Was shown Later
Reports Conflicting.

CHICAGO. June 25.-Wheat broke near
" &c today under heavy liquidation but
closed steady at &c from Saturdays close.
corn closed sc down. oats 14c higher and
provisions from L12c to zoe reduced in
ribs, TO 3212c lower in pork
1t was wild day in wheat, a battle
between the bulls and bears in which
the latter, for the first time in weeks,
scored a victory. July opened from STA &c
70 S612c, sold between SSlaGJSS3tc closing
&c under Saturday at SSC. There was
some dispute as to what really were tne
opening hgures, 50 many trades took
place at the sound Of the gong. Some
made the initial range from SSc to S61.c
Certain It IS that all sorts of prices were
paid in tumble ard that two mimi es
after the opening July changed hands
at SS1sC
In the fed of news the bulls retained
their old friend, the Northwest crop
wreck. Manitoba had rain, but Mime
sofa and the Dakotas reported dry,
screening weather, the kind that burns
uD vegetation in short order. One Da-
kOtd reporter had the temerity 20 men
ton the appearance Of fly. What harm
fly would find left 10 do was not men,
toned. On the bear side of the bulletin
beard was the Liverpool weakness in the
face of the Use advance here Saturday.
the excellent conditions prevailing IN the
Southwest and the heavy world ) ship
ments, which included 1900 coo bu from
Russia The visible was also on the bear
side of the fence, showing an increase Of
1,34S,0C0 bu.
The Southwest said Took out for a
big movement" and declared that har-
yesting was progressing in many sections
under the most favorable circumstances
with promises of wheat enough to go a
long way towards making up the short
age caused by the Northwest ia Iurr 7 he
items given undoubtedly had some in
ueuce in the selling Longs were profit
takers Saturday and they were ready
for more today. The news had the effect
of prOdding them along, ard. TO a de-
gree. of lesseuing the demand from GER
tain sections, although the No t1We It vas
still credited with paying good prices
here to make up the home shortage For
a time following the opening the market
held steadily over SIC.
The hammer1ng by holders shortly be-
fore noon. however, began u tell July
sagged TO SIC and then. ali IN few
stop loss orders in large numbers were
reached for the first time since the re-
cent advance began, and there was such
a rush 10 sell that between S5c and the
bottom there was scarcely a check to
the decline. Support, credited by many
TO Wall street interests, caught the
breaking cereal at S324c and hauled it
back TO see, at which the market closed.
Receipts here were Isl cars. . Of contract
grade Minneapolis and Duluth reported
4T4 cars. against 4S9 last week and gSl
year ago. Receipts at primary points g
gTegated S1S,000 bu. compared with l E22,-
600 year ago. CIearauces at the sea-
board in wheat and flour were equal to
395. ESQ bI.
Corn was active and suffered with
wheat, ard was at one time Else lower
than it closed Saturday 1t recovered
11sc Of this loss. and closed 1d11sc lower
q Hl2c. The range for the day was be-
tween 421sG4ZL4c and 1850. Throughout
wheat furnished the motive. Country Of
ferIngs We're reported larger. Longs were
heavy sellers, with shorts and some Of
the old bull crowd buyers on the break.
Receipts here were SO cars.
Oats alone of the markets on the board
held against the downward pressure.
With the break in wheat, oats dropped
eff. but recovered in good shape. The
support came from, the Northwest in the
shape of damage claims. accompanied by
buying orders. July sold between Csc and
24s4c, and closed Ac over Saturday at
2534c. Receipts were 81 cars.
Provisions were weak, under heavy hog
receipts and the wheat decline. There
was A fair outside demand. which became
effective at the bottom. and caused some
recovery. The close, however, was rather
weak at that July pork sold between
Sl2.55 and Sl2.10. and closed 3212c under
Saturday at S12-32la; July lard between
81 and S6.S5. closing Zoe lower at SSH,
and July ribs between S7.G71a and IS .92t2,
with the close I712420c down at $3.50
6.9715.
Estimates for tomorrow: Wheat, 205
cars; corn. 1910; oats, 700; hogs, 25.C69.
The leading futures ranged as follows: