Show REF TO THE SHOTS Overconfidence Among Bears in Grain Pit the Cause LIQUIDATION FOR PROFIT This Coupled With Short Selling Brought a Tremendous Volume of Business Low Prices Which Followed Fol-lowed Were Too Tempting to the Big Public and Amid Scenes of the Wildest Confusion Wheat Was Sent Up to a Now Crop Record Corn Started Strong Chicago Dec Ovcrconfldoncc among the bears in lie graIn pits brought grief to many shorts today Liquidation for profits and short selling brought a tremendous tre-mendous volume of business but the low prices which followed those weakening Influences were too tempting to the big public and amid scenes of Iho wildest confusion wheat was sent up to a now croprecord price Wheat sold In great quantities at tho opening Conditions had changed there was not the same general clamor for the cereal from the country and there was a nervous feeling resultant from the tumble tum-ble of prices In Wall street In general there was an Inducement for people with highpi lucd lines to take good profits Big houses with connections in New York the Northwest and SL Louis wore heavy sellers amid Fatten Is reported to have unloaded 1000000 bushels of what As the markets weakened in price they wore met with a renewal of outside buy tag which was such In bulk thai U hardly could have come from scattered outsiders Some of the persistent bulls continued buylnjr and even at the top prlcea at tho opening thought the bargain a good one Conditions that usually govern were somewhat mixed Cables were not jUllo as responsive as expected Though the English country markets were reported very strong northwestern receipts were falling off but primary rccclptb showed a good gain The Increases In breadstuffs on passage and In the visible supply also were bearish faclois With all these Influences lo abet his selling pressure prices fell oft badly May options which opened AfiViC higher to fj1c lower ut J > 2 to SJVi steadily fell lo SIM Shorts were Jubilant and rushed to put on more pressure Then came the reaction wllh the force of a whirlwind Buying orders sprang up all around and It became woefully apparent that the market was heavily oversold In twenty minutes the price tor May was up again lo S3Vi a new crop record The close was very strong vC abe o Saturday at S351 S3U Corn started strongly because of the snow and rain which It was thought might hinder farmers deliveries Heavy profittaking however mudo Itself felt In a wcakeiiing of prices Increased Wcsi em offerings and the slump In wheat caused ml > further decline until May touched 07 = ic Wheat strength however came lo this rescue Just before the end of the session and buoyed May up lo u steady close c lower al GSfee After an opening at about steady prices oats suffered a material loss under early heavy liquidation from several of tho most professionals Prices were off atone at-one time lc below Saturdays close When time strength In wheat becnm6 manifest oats followed closing comparatively compara-tively firm 4c lower at Gc Provisions were rather heavy early affected af-fected by Iho downward tendency Ingrains In-grains On the revival of the wheat strength however prices responded January Jan-uary pork closed 6c up lard jjr higher and ribs unchanged WI f RANGE OF THE LEADING FUTURES Articles Open High Low Close Wheat No 2 December 7S 70 7Th4 79 Mav su ii2 i iCorn 82i 83 iz iz S34 Com No 2 December 6414 65V1 04 1 GlJi MJiy GS G94 G7 GS July CS 05 i fe G9 ½ OSVi Oats No 2 December 4G > 1 4051 4514 45 May 17 i73 40 40 July 42U 4214 404 4114 Mess Pork January 1GS7 1095 1070 lfi90 May 1720 1737 1712 17Co Lard January 980 990 972 9S5 May 9S5 992 9SO 990 Short Ribs January S50 S55 S42 853 May S70 S77 SGO S2 CASH QUOTATIONS Cash quotations were as follows Flour steatly No 3 spring wheat TSfIrlO ½ c No 2 red Sic No yellow corn GSi4c No 2 oats 474714c No 2 white iS491c No 3 white IS4gvl9c No 2 rye Ole lair to choke mailing barley DSVifiGSc No 1 flaxsoed 141 No 1 Northwestern lir prime timothy seed 103050 mess pork per barrel 1590fi 1COO lard per hundred pounds 53S2i < 59S5 short rib sides loose S IS jSGO dry palled shoulders boxed 71ifr7t ½ c short clear Bides boxed S390tiO00 whisky basis of high wines 1S2 clover contract grade JOJS RECEIPTS AND SHIPMENTS Articles Rcta Ship Flour barrels KOOO 2200 Wheat bushels 113000 IL000 Corn bushels 155001 GOOOO Oats bushels 303000 172000 Rye bushels 12000 2000 Barley bushels 211000 10000 PRODUCE EXCHANGE On the produce exchange today the but tor market was firm creams llfSI c dairies l32Oc Cheese steady 9i10lC Eggs firm fresh 21Q25c Coast Grain San Francisco Dec 0 Wheat Firm May 109 spot firm 5103ai < 105 Corn Largo yellow firm SlCOJflSo Barlej No sales cash Mc Available Grain Supply Now York Dec 9rhe visible supply of grain Sntuiday December 7th as compiled by the New York produce 6x change is as follows Wheat 55240000 bushels Increase i 2SU 000 bushels Corn 10930000 bushels decrease 207000 bushels Oats C410000 bushels decrease 187000 bushels Rye 2522000 bushels decrease 32000 bushels Barley 2500000 bushels decrease 198000 bushels Butter and Eggs Nomv York Dec 9ButterReceIpts 6100 packages Firni Dairy 11125 ½ c creameries 16725c June creamery Iiuj2c factory 12V4 < lGc Eggs Receipts 4500 packages Steady Western at mark 2Gc Elgin Butter Market Elgin 111 Dec 9No butter was offered of-fered on tIme Board of Trade today and there were no sales Tho market was declared firm at 2Hie the same as luat week Sales for the week were G00000 pounds Now York Sugar Market New York Doc 9Sugarflaw Steady fair refining 3 932c centrifugal 03test 3Vc molasses sugar 3 132c Relined Re-lined steady crushed 510 powdered 5500 granulated Sl I5O |