The Montgomery advertiser., 1902-01-08
ST. LouIs-Quiet; middling, 7N; sales. g receipts, S552;s stock, 5I, ,926.
Chicago Grain and Provisions.

CHICAGO. Jan. 7.-Buls in all the grain pits today experienced setbacks after yes. ,ehest Wheat market s influenced the declines May wheat registered a net loss of h@ic, May corn &c and May oats Sc. Provisions closed % I2kc down.
 Trade in wheat was large and extremsly nervous. Jumps of A in either direction oc- cured with great rapidity. tense feeling was present throughout the session. based largely an overbought state Of the mar ket There was still a decidedly buliish tone prevailing as result of the higher outside markets, especially in the Southwest. But the crowd seemed afraid to carry any very large movement. The bearish factor that started the. decline was the unexpected weak condi- tion of the Liverpool market & Tns ronG oniy a- sa that it was a natural result of the heavy ad- vance the day before. Influence by the foreign s4h. Bears at once began putting out short lines and there continued weak tone. Then came rush of outside % buying rius. orSe5s sss up their loss quickly, but selling seemed pop ular and there was repeated sags. Minneapo- go good ' cash is demand % and the Winter wheat belt still complained of lack of moisture. The may u soS a 4 soon brought loss of lc and a weak close. %9lc down at sahas3%. Local receipts were 60, ca,s, one of contract grade. Minneapolis and pu. . iuth reported 324 cars. making a total of 3s4 cars against 529 last year. Seaboard clear ances of wheat and flour equaiied S6s'ooo bushels.
 Corn experienced the same early trouble ss wheat The enthusiasm of the day before In the Liverpool market seemed to have vanished and the days cables were weak in spite Of the better feeling here yesterday. The main influence was the wheat market. which this pit followed quickly on the declines. but not we'll the recoveries. The country seemed to be offering more corn was indicated by the selling at times by receiving houses, Bears were somewhat active, trying to press the price down every time wheat sagged. May. which opened Am3s lower sagged for time and then regained its closing price of yester- day-67B. On the heavy selling in wheat. however, 1t turned weak at the close and sold down at 67t. Receipts were i76 cars.
 Oats had the best tone of any of the pits. Trade was extremely heavy. that in July being the most important. Although the close In May showed decline and July did not hold all it's advance, traders were predicting bull ranged 6G7c under May almost ever since 1t began to be quoted Bulls ridculed the idea that there should be such divergence in prices and began to buy heavily July gained some strength from this influence as well as from the scanty and poor condition of local stocks The near futures opened slightly lower. sold up quickly pulling to 47, but closed asc down at 46k. Receipts were 2lO
 
 Provisions were dull and easy. The bearish incentive was large run of hogs and lower prices at the yards and some local selling. There country buying. May pork closed l2la down at Sl7.22h: May lard So 71a lower at S9. 92ia, and May ribs Sc of at S877ia.
 I he leading futures ranged follows: