The Montgomery advertiser., 1902-01-16
Chicago Grain and Provisions.

CHICAGO Jan. I5.-Besrs in the grain pits were in high spirits today and unmercifnliy pounded away with prices until after hrm opening May wheat closed %M5sc lower, May corn i%c depressed, and May oats %c down.
 Wheat trade early was quiet with strong undertone. After yesterdays demoralization. a firm opening on cables and dry weather was erpool started somewhat better and in face of the declines here lent confidence in the pit, The effect of the heavy Phillips liquidation yesterday has evaporated and the market was its old footing again. Perhaps the most noticeable result of yesterdays tumult, was isai. to A@ss higher at sIh@sIas, there was at one time on revival of commission house buying a recovery seemed imminent. As 1t the bulls virtually by the horns and pressed steadily prices Heavy selling set in on all sides. News came that Liverpool was de clining. Some shorts took advantage Of the situation to cover for profits. but the amount of wheat thus absorbed was trifiing. and weak holders everywhere forced out by the heavy calls for margins by houses that feared other failures might result from yesterday 5 hard pressure. To abet the bearish argument 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. &d is lower at sOk Local receipts were 45 cars, two of contract grade Minneapolis and iu- ,u
 reported ss4 sa making ss os week and 395 year ago. Primary receipts were 4es 900 bushels. compared with 62o, 900 flour equailed Ie2 900 bushels. The seaboard reported 48 cars taken for export.
 Corn started firm and higher with wheat and on fairly good cables. Some of the corn sold yesterday replaced and there was some light, but country offerings were reported freer. When wheat advanced, corn followed after. but soon turned heavy on it's own poor cash situation and later broke badly in wheat company. Cash houses reported 5c decline for ear corn in as many days Good weather cuFtAiled Tthe amount needed for stock feeding and the8 absence of demand worked against the pit Liquidation on all sides set in about the noon hour and prices slumped in a paneky fashion May which had opened steady at 655s to 63&t. At this figure shorts took pioats enough to steady the market at the close. The session ended with May weak IS down at |, 63E. Receipts were S3 cars: Early in the day oats ruled rather firm and independent of the other pits. Prices opened higher in spite of more liberal country offer ings. selling high as 45N. Finally under the corn influence, oats began to tumble. Large quantities of long stun were thrown out. st ,4I ..
 The provisions people. who were already short large quantities, began selling more. A leading professional unloaded considerable. support the market and this tended to steady the tone. May sold of to 44% and closed weak < down at 44A. Receipts were l2o cars.
 Provisions were fairly active. They started out with good evidence Of bull mar ket on a country demand and strong hog market at the yards. When corn collapsed. however. the early bought stun was thrown overheard and prices slid of. May pork closed loc down at SI7.o7; May lard 71s lower s'ssis. s' 70' and May ribs 7's lower at s' soc
 The leading futures ranged as follows: