The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-01-16
CHICAGO CHANGE.

CHICAGO, Jan. 15.-Bears in the grain
pits We're in high feather today and I'M
mercifully pounded away at prices UNI
I'll, after firm opening, May closed "a
&c lower; May corn l3sc depressed and
May oats Ac lower.
Provisions closed 719@19c lower
Wheat trade early was Quiet, with
strong undertone. After yesterdays 80
moralfZatfon, a firm opening en- cables
and dry weather was very reassuring to
the bull professionals. Liverpool started
somewhat better and in the face of the
decline here lent confidence in the pit.
The effect of the heavy Phillips liquida-
ton yesterday had eYaporated and the
market was on its old footing again.
Perhaps the most noticeable result of yes
terdayS tumult was the absence Of the
usual volume of outside business Short
Iy after the opening of May at Sole to
A@3sc higher, at S114D81$4c, there was an
effort made at supporting the market,
and at one time on a revival of commits
sion house buying a recovery seemed i'm
minent As it was May rose to size.
Bears, however, pressed steadily on
prices Heavy selling set in on all sides.
News came that Liverpool was declining.
Some shorts took advantage of the sitll-
alton to cover for profits, but the amount
of wheat thus absorbed was tfifiing.
Weak holders everywhere Were forced
out by the heavy calls for margins by
houses fearing other failures might re-
suit from yesterdays hard pressure. TO
abet the beafiSh argument the coarse
grains were being pounded at; cash corn
was especially weak May wheat during
the last hour slid off rapidly to Soc and
at the close of the session was weak, 340
Bc lower, at SOAc. Local receipts were
As cars, 2 of contract grade Minneapolis
and Duluth reported 294 cars, making
total for the three points of 439 cars,
against 404 last week and 385 a year ago.
Primary receipts were 493,GG bu com
pared with $40, GOO blu. Seaboard clearances
in wheat and hour equaled 1862, coo bu The
seaboard reported As cars taken for ex-
port.
Corn started firm and higher with
wheat and on fairly good cables. Some
of the corn sold yesterday was replaced
and there was no country buying. Re
ceipts were very light but country offer
1ngs We're reported freer When wheat
advanced, corn followed after, but soon
turned heavy on its own poor cash stu
alton, and later broke badly in company
with wheat. Cash houses reported SC de-
cline for ear corn in as many days. Good
weather curtafled the amount needed for
stock feeding, and the absence of de-
mand worked against the pit. Liquida-
ton on all sides set in about the noon
hour. May, which had opened steady at
65Ac to 6512c, sold up to 655sc, dropped al
took profits enough to steady the market
at the close. The session ended with MAY
weak, Use down, at $3.50. Receipts were
So cars.
S and independent of the other pits. Prices
opened higher, in spite of more liberal
country offerings, selling as high as 457sc.
Finally, under the corn influence, oats
PECAN TO tumble. Large quantities Of
long stuff We're thrown out The provision
people, who We're already short large
quantities began selling more. A lead
ing professional unloaded considerable,
but there was a firm stand by the bulls
to support the market, and this tended
to steady the tone. May sold off to 44Ac
and closed weak &c down, at 447sc Re
ceipts were 120 cars.
Provisions were fairly active They
started out with good evidence of a bul
market on a country demand and a
strong hog market at the yards When
corn collapsed, however. the early-bought
stuff was thrown overheard, and prices
Slid off. May pork closed 10c down, at
$l7.0712; May lard, TIC lower. at 500, and
May. ribs TIC lower, at s8.6008. 621k.
are: Wheat, 40 cars; corn, 10 cars; oats.
$50 cars, and 5000 head Of hogs.
The leading futures ranged as follows.