The Montgomery advertiser., 1902-04-26
Chicago Grain and Provisions

CHICAGO. April 25.-Isain i'll the rour big price of grains the Board of Trade today and vaused commotion for time that re- sembled a stampede. For the first hour |,
 was nothing but sell. sell, sell Prices fiuc
 tuated widely and wildly that for a time a panic was feared When traders recov- cred their heads the pits quited down some
 what and there was a good reaction: Bears.
 however. had too much the best or the a.2u-
 %en. to aST prGss ovsp to %ss eo ema i5ws
 and Ma oats lc of. Provisions. though showing independent strength for lime.
 and they closed 5d7is to i5c lower There
 a wild opening in the wheat pit. itain
 had fallen during the night copiously oyer
 Iowa Illinois. Missouri and Nebraska snd the
 situation was materially relieved m kalsas.
 The trade hardly had to look at the weather
 map to know that the dry weather scare was
 knocked into a cooked hat. Strangely eh"Igh;
 the heavy dowIpour in this city as usua,
 with one accord there was general % wn"sL
 dumping process at the sound of tRe ,pehng
 gong. Everybody seemed to nave selhns o,
 ders. So rapid was the decline and so irresu-
 lar the fluctuations that stop loss orders were
 soon met anu additional stun was .nromn t.,.an n
 into the pit. contributing toward further
 weakness Spectators in general. big and
 little brokers commission house.. scaipe,s
 and pungers felt the efet 1t the eSa'smeS s s,,,,
 of yesterday. Of course rains were eNp.cted
 for long time and traders had fortified tnern-
 was sich a auantitt for sale that the break
 became a collapse instead of dernn". An.
 other support was the apparent steadinsss ,hd na
 the Kansas City market in the face or me
 b-eak here. Some traders were arguing that
 that market should be in better position 10
 know the truth of the Kansas situat on than
 the local crowd Other outside markets were
 weak but occasional reports still complained
 of crop damage. After the early tumnIt .1'dns in
 recoveref some what. hut hearish sentiment 'n-
 duced further pressure and the market weake s,aSe
 cred again. May wheat opened 'snss to i'am
 7s. 0TSr Tny sS soIa | at the start between 7e and
 75h The close weak. May lM@lA lower
 at 74!s and July lA on at .oNmnom; areds ,eds'
 Minneapolis and Duluth rfported loe ears gs'
 making total for the th1ts points ,oor of ase s4
 sS as Sees an' S
 compared to .3o2, 900 bushels last en.; year
 PrmssS receipts ooo bssss,s ssssasrs asIs. c1eaT
 ances in wheat and -four equaled 7i5'ooo bushels. Minneapolis and Duluth stocks are
 spectively of 500 oco bushels and 1000 poo
 Last week the decrease of the two marsets combined was 22oo 900 bushels ,,.n wss.,
 Corn suffered even a worse break than wheat wha,
 at the opening, slumping as much ns 2s.
 Wheat sympathy and the general rains were ce
 much excitement and nervous feeling, Corn
 was dumped freely into the pit regardiess or
 prices. Stop loss orders came out all the way
 down and during the early scramble there was
 practically support. Even the nle pun
 crowd sold out much of their holdings ,or
 ter the general selling movement had seeming
 ly knocked the bottom out Of the market there
 was some responsive buying ana prices ie- covered I1s from the low point for the day. Subsequently, much of this recovery was again lost as scalpers sold again, Country onerinss of corn were freer than they have been TOT somd time. and especially from Illinois Iowa corn also was offered in liberal quantities. put not much from there came into Chicago Tor Kansas City F over this market. St. Louis was weak. May corn opened %9ist low CT at 62ia to 6lla and slumped to 0 1s. Juiv started isI Ic lower at GA to 63ls and touched 62is The close weak. both July ana May closing lc lower at 63ls and oZ't' re- spectively Receipts were lo cars.
 Oats declined with the break in other grams but the market ruled comparatively quiet Considerable stuff sold on stop loss or ders and the effect of the rains on the sown oats was bearish. Receipts also were heavier Receivers and provision dealers were the pest sellers Later there was fair invest- ment buying which picked up some of the loss. The close however. was weak. May soid rom Ao to 4I6s reacted to 43 and closed lc lower at 42H Receipts were 57 cars. :, Provisions maintained a firm undertohe .he greater part of the session In spite or tne weakening influence of grains Prices now z eyer slid of in the face of a light run or hogs and the highest prices Of the year at the | yards Bears made some use or the contem- nlated prosecution of the meat trust 10 oepress prices but packers supported the market at | inc decline. There was a good demand TOT | nrod,lcts especially for lard. July pork 1Iosen | Isc lower at SI68 87: July lard 5dI on al | se e5 and July ribs Say down at Ss3I | The leading futures ranged as foiows'