The Montgomery advertiser., 1902-08-10

Chicago, Aug. 9.-Calamity overlook the bulls in the provision pit today. the down hill course of all grains during the week and especially the precipitious decline in corn had taken all the faith from oiders in all the speculative pits. As further argument against the bulls corn broke again early in the day. This was too much, for the provision crowd and an avalanche of stop loss selling orders swamped the pit. Pork made the greatest break. so cents. but other products kept company. While a stampede was work ong havoc in provisions the yrlin crowds came to the belief that bottom prices had been reached. Covering on tremendous scale took place. Corn shorts GOV cred by the millions The bearish conditions of weather and fine crops worked against rally, but in the end everything ,.n the floor reecteu. September corn clos cd Is to lie up. September wheat a shade lower and September oats 3-4 down; pro- visions closed 1-2 to 15c lower.
 Provisions were demoralized until late Tn the session. There was a great sell ing pressure in the shape of liquidation in September holdings and selling short of January and May. Pork was me pro- duct raided and the bottom dropped out of the market. Everybody was offering stuff. At times January pork was offered 200 under the market with no takers. The bottom was reached at a decline of about soc. Lard had ben firmest of the pro- ducts and turned strong on support. The hog which had been lower on only 6O0O head receipts up late with a view tc at tracting more stock to market next week. Corn. the weakness of which was the pri- mary influence in the provision selling turned firm. After the severe break there was a reactiVe tendency and the day losses were much less than at one time seemed probable September pork sold from .55 down to b. 75 and closed weak, 15c off at 1885 and January sold from l4.S5 to 1890 and closed at 14.50. September lard sold as low as 0.50 and closed l-2 1s1rrv, t~A,, rfh A.,~r ped from 10.20 to S9.60 and closed r l-2c off at .02 1-2.
 Corn was so weak early that it caused weakness in everything else on the floor. After slumping over cents in one week, an additional decline in deferred futures of l cent frightened the few remaining bulls into renewed liquidation. The weather was favorable and crop reports bearish. Texas was asking for bids for corn for immediate shipment. Altogether 1t appeared that soon there would be big movement fro mthe Southwest. The de- cline. however, soon brought prices to a spot which was considered too profit able to the shorts to last long. Covering had been going on all morning but now grew lively. The clique that had sold September short around 50 cents as hedge against the corner in July covered enormously at big profits. The crowd turned bullish but the recent depression had been so great that it was hard to overcome September which slumped to 50 3-S, rallied to 51 3-4 but closed only trifle firmer 1-SQ1-4c up at 51 S-Sq51 1-2. December slumped 1c to 39 and closed easy 1-Sq1-4c off at 39 3-4d39 7-S Receipts 34 cars. f"
 Wheat made new records for low prices for the crop There was a themporary firmness at the opening on light rains in the spring harvests but the drop in corn and the subsequent depression in oats brought marked depression. Crop prospects still were excellent and all re-