Omaha daily bee., 1902-12-18
COMMERCIAL AND FINANCIAL
Corn and Wheat Rise Fraction, but Oats
and Provisions Drop,
MAIN INTEREST ctNTERs ON CORN PIT
Free Liquidation, with Small support,
sets December Delivery Back and
Attempted 81. Louis Corner
Fails TO Pieces.

CHICAGO, Dec. 1.-THE corn pit was the
center Of attraction on the Board OF Trade
cemher option causing a loss Of 514c in that
delivery at the close. May closed a shade
higher, with May wheat also up a traction
but oats were hc lower. January proVis-
ions closed from a shade to loo lower.
There was considerable excitement In the
corn pit. owing to the action OF the De
uember delivery, which suffered a severe
setback, owing to continued liquidation
with practically no support. As a result or
the downward plunge in prices. the at
which had been engineered BY a 81; Louis
clique, went completely to pieces, judging
from the way which the long corn came
out with apparently no effort on the part
Of the pool" to support the market. Large
quantities of December corn, II was said,
of whom Il may concern" and the sup
position was that those who had been
endeavoring to bull the market had failed
to respond for calls for margins. Liberal
receipts and favorable weather were re-
sponsible largely for the wish Of longs to
dispose Of their holdings. December opened
Aaio over, at 52a52Ac, and declined grad
ually, with now and. then a slight rally,
until 47lc was touched. A little better
close was SIC lower, at t7hc; May was
dull and featureless, but held hrm, In
spite Of the depressing Influence OF the
December delivery. closing a shade higher,
at csc, after ranging between 43kc and
43%c. Local receipts were 264 cars, with
four Of contract grade.
W A0o AA1 ~ aAA@ N-A 49, 49,
able weather throughout the northwest
causing longs to unload freely, and this,
together with selling on short account, was
the main factor In bringing about the
easier feeling. The sharp break in De-
Cember corn affected wheat, as did also
the foreign news, which was a trife bear
ish, the large stocks reported at Russian
ports being taken as an indication that
the government report of a large yield In
that country was entirely correct. There
was q little better demand toward the
close, which was about steady, May being
a shade higher, at TIC, after selling be-
tween 7SM076A and T79sc. December closed
nc lower, at 74Mc. Clearances of wheat
and -four were equal to $4,000 bu. Primary
receipts we're 6C2, 900 bu, against T4,0OO bu.
a year ago. Minneapolis and Duluth re-
ceipts, 23 cars, which. with local receipts
of So cars, none of contract grade, made
total receipts for the three points Of 80
cars, against 6S3 cars last week and $50
cars a year ago.
Oats were dull and featureless, and the
market was a little easier on realizing in
May. A fair demand from commission
houses helped to maintain prices and pre-
vented any severe break. The cash situa-
tion was not as favorable as of late. May
closed hc lower. at 32%c, after ranging be-
tween 52has2%c and S2Ac. Local receipts
were 207 cars.
Provisions were extremely dull, and IN
spite of a strong hog market, prices de-
clined throughout the lay and the close
was at a lower level. January pork closed
10c lower. at S16.00d16.571k. Lard was a
of 2hc. closing at S.3715.
receipts for tomorrow: Wheat,
IS cars; corn, 2O cars; oats, 1856 cars; hogs,
$1,000 head.
The leading futures ranged as follows:
A rNNnIaa 4 Fnnan klN-R 4 7 an CIAaa 1 VAaf.r