Omaha daily bee., 1902-04-17
COMMERCIAL AND FINANCIAL
Day Opens with Bulls in Possession, but
Bears MonopOlize Last Half.
TWO LEADING CEREALS FORCED DOWN
weak HOS Market Causes Liquidation
A. Provisions and Prices Covered,
but oats Are Quiet and
Close Unchanged.

CHICAGO, April 16-There was sharp
and %rregula action In the grain PITS
eDdayy' ,5aygences eariyl hut rain came to
the relief of the bears and prices were
forced down. May wheat closed %qAc
unchanged. Provisions lost 21ld5c to 15c.
Conditions In wheat favored better prices
At the opening. Cables were strong at
good advances and dry weather reports
continued to come from the suffering south
western wheat country. Rains were re-
ported in Oklahoma and Kansas, but mall
advices generally stated that the recent
rains were not sufficient and that much OF
the standing grain would have 10 be plowed
up. Influential interests were buying early
after a momentary reaction and prices for
some time held strong. Near the noon
hour a selling movement %as started Sste on
been much misgiving of late. Some of the
st. Louis crowd were heavy sellers, as
was a strong bearish factor and though the
outsider was buying literally. the day
closed with much lower prices. May wheat
started e shade to bQAc up at 74q141sc,
sold at 737sc and then worked up to 74Ac.
on the decline May sold at 73t@73hc, clos
ing %@%c lower at 73hc. Local receipts
were As cars, none of contract grade; Min
neapolis and Duluth reported 80 cars, maxi
Eng s9si a tot e i for the Neck tRrs snd po ga cars 9r IA q years year
ago. Primary receipts were 253,OO bushels,
compared to 49,, O00, bushels last year. Sea-
board clearances in wheat and flour equaled
81, 900 bushels. The seaboard reported ex-
porters idle and cash grain business neg
leCteu because OF the EnRlsn DUTIES.
Liquidation In corn ruled the day. Early
influences Of cables ana wheat Iraue NtIs
bullish and helped corn for a time. The
pit, however, was very nervous and after
some fairly heavy buying early bears began
20 pound the market to force longs to let
go. At top prices long corn came out, but
the holders did not press the stun in
1udiciously on a weakening market. st.
Louis, which was firm early. eased off and
this market declined steadily. Trade at
times had dull spots. The last hours ac-
ton, however, was spirited and of a very
depressing nature. The wheat decline was
a bearish factor. May corn slid off from
al, the end, closing. 1Hc lower at 61%c. Re-
ceipts were very light at "a cars. Some
traders were of the opinion that leading
bulls were hammering the market. in
order to get a better load at low prices.
oats were quiet and were traded in on a
%erratic. Corn was the leading influence.
There was still some confusion over the
new grading of standar oats. The new
oats held their premium of INC for July
and lsc for September. May huctuated
between 42sc and 43lfc and closed steady,
unchanged at 4Sc. Receipts were again
Provisions were liquidated today on the
influence of a weaker hog market. The re-
cent higher prices for hogs nave been
bringing out increased numbers from the
country. On the decline in products pack
eEs came to the support and there was a
slight reaction late from the low points.
May pork sold at $16.7 20 and closed 15c down
at SIS TIh, May lard closed 567hc lower at
$40 and May ribs 2h@Sc down at 80. 10.
receipts for tomorrow: Wheat.
- cars; corn, 80 cars; oats, 10 cars; hogs,
The leading futures ranged as follows: