The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1877-01-24

Coined 1t also gradually begins TO dawn upon
the minds OF the paper dealing element, IN
this as well as other articles OF merchandise,
that speculative tendencies have become
pretty well eradicatcd from the movements
TO give place TO the most r1gid spirit OF econ
Ony. which not only checks al. waste OF MAJ
terial but reduces use and seeks substitutes
with every addition to cost, however small
II may be. That foreign buyers must
ultimately come forward agaiil, there Is OF
course no doubt, but the amount they handle
Will be dependent upon the cost Leaving
out OF the argument the probable financial
ability Of the producer to carry his stocks
and this is strOfRly doubted in some quarters
-tIe problem now before the trade must ind
its solution either in an attempt TO check
further decline and iniuse an appearance OF
strength until foreign markets respond
and take much OF the product of the
hog as they can afford to mt the cost, or in
permitting the shrinkage TO go on until lev
fractive TO the foreign buyers aud induce
them 70 contract with sufficient liberality TO
assure q steady export mOvementfor the bal
ance of the season. : feature not 10 be over
looked, as affecting our own immediate mar
ket, i the immense accumulation OF eastward
bound freight on the railroads, which, when
once again fairly started, is likely to arrive in
large blocks, ana may bring surplus over
through shipments tforeignl OF greater mag
nifude than could be disposed Ofexcept at ma
terially shaded rates.
The provision market of the past week has
been an unusually active one, but IN an oppo-
site direction to all others previously reported
in that every trying, or being forced
to dispOssess himself of property he had pre-
ViOusly labOred so studiOusly to obtain. The
large trading in inflated futures, with the en-
tire absence of demand for cash property, cul-
minated in a collapse, and two days of the
week were decidedly panicky, with large and
rapid declines, and every effort TO rally II only
resulted in further declines, until il struck
it became more steady, and evinced an
appearance of returning confidence. The de-
mand for, cash property is still limited to
green and dry salt ineatS-pork and lard yet
neglectcd-but this heavy decline will no
doubt result benefeially 10 the future of the
trade and soon have the effect of attracting
cash buyers, as the product compared with
other seasons is not dear and we believe II
safe and profitable investment at present
prices even though they do go shade lower.
Fork to-day is 81 per Dbl lower; lard l1zc;
shoulders nc; sides 214c, and hogs Sl.25 lower
than the same time last year, though hogs
have declined about 81 within a week, and af-
ter this time last year prices advanced fully 20
per cent, and there viii be less hogs this year
and no less mouths TO feed than last.
Hogs-The receipts have been light, hut
fully equal TO the demand as packers have
been out of the market most of she week antil
yesterday, when concessions were granteu
and they began buying again at
decline of nearly 81 within a
week. The quality continues to grow poorer
Mess pork declined 81 10 from its highest
point, during the week, but subsequently re-
gained a portion of the decline. TIE receipts
have been about equal TO the shipments, and
the manufacture light, but the stock is expect
ed to show lJS,0OU lbs tomorrow. Lard de-
clined e during the week but regained por-
-" AA-tAN ee'H
BILE the shipmets, and the quantity made
small. Expected stock tomorrow $1,000
tierces. Dry salt meats declined &c during
the week, but at the decline a brisk demand
sprang up both for cash and March especially
for sides, with large sales. shipments only
moderate. Green hams have been in both
light supply and demand. Prices &c lower.
sweet picked hams quiet at &c over green
price. Foreign exports of all kinds of hog
product from the seven seabOard cities, from
October % to January ., was lS9, l40,722 lbs,
against 1852 3lS lbs some time last year. In
crease -, ,52i lbs. The following are the re-
ceipts and shipments of provisions from Chi
cago for the week ending January 10, COM
pared with same week last year and since No
yember !, 1876, as compared with same time in
1875: