The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-12-18

CHICAGO, Dec. 1.-THE corn pit was the
center of attraction to-day on the Board of
Trade, the heavy liquidation of the De-
cember option causing a loss of 51ac in that
delivery at the close. May closed a shade
higher, with May wheat also up a frac-
ton, but oats were isc lower. Provisions
closed from a shade to 1Oc lower.
There was considerable excitement in the
corn pit, due to the action of the Deem
Der delivery. which suffered a severe set
back owing to continued heavy liquidation,
with practically no support AS a result of
the downward plunge in prices the at
tempted corner of the December option,
which had been engineered by st. Louis
clique. went completely to pieces, judging
from the way the long corn came out with
apparently no effort on the part Of the
pool to support the market. Large
quantities of December corn, it was said,
were sold out in the Pit "for the account
of whom it may concern" and the SUPPOSE
ton was that those who had been en-
deavoring to bull the market had failed to
ceipts and favorable weather were re-
sponsible largely for the anxiety of longs
TO dispose OF their holdings. December
opened Ad1c lower. at 52q52a4c, and de-
clined gradually, with now and then a
slight rally, until 47l4c was touched. A lit
tie better support developed at the bottom,
put the close was 5i2c lower, at 4713c. May
was dull and featureless, but held firm in
spite of the depressing influence of the De-
cember delivery, closing a shade higher at
1850 after ranging between 43Ac and 43a4c.
receipts We're 26i cars, four of contract
grade
Wheat ruled dull and weak, the favor
able weather throughout the Northwest
causing longs to unload freely, and this,
together with selling on short account, was
the main factor In bringing on the easier
feeling. The sharp break in December corn
anected wheat, as did also the foreign
news, which was trifle bearish, the large
stocks reported at Russian ports being
taken as an indication that the government
report OF large yield in that country was
entirely correct There was little better
demand toward the close, which was about
steady. May being a shade higher at TIC,
after selling between 7634 076Hc and 773sc
December closed sc lower at 74%c. Clear
ances OF wheat and flour were equal to
$4,000 blu. Primary receipts were CO. GOO blu,
against !74OO a year ago. Minneapolis and
Duluth reported receipts of 252 cars, which,
with local receipts of So cars, none of con-
tract grade, made a total of 80 cars,
against 693 last week and $50 a year ago.
oats were dull and featureless and the
market was little easier on realizing in
May. fair demand from commission
houses helped TO maintain prices and pre-
vented any severe break. The cash sit
uation was not as favorable as of late.
May closed 1sc lower at 32a4c. after ranging
between 3219Q325sc and 327sc. Receipts were
207 cars
Provisions were extremely dull In spite
OF strong hog market, prices declined
throughout the day, and the close was at a
lower level. January pork closed 1Oc lower
at $l6.5I1R. lard was a shade lower at 49, 7Od
9.7O1a and ribs were off 21ac, closing at
$S.37lh.
As cars; corn, 290 cars; oats, 1876 cars; hogs,
$1,000 head.