The Indiana State sentinel., 1877-06-27


siderable excitement as the shorts were try
ing TO settle up their contracts.
On Wednesday the market opened in this
shape, with few sellers and plenty OF buyers
at the prices of the previous day. In this con-
dition of things shippers and shorts found
they could only succeed In & putting & Prices prices up
resort to their former tactics of selling the
market down was resOrted to; for IL opened
higher and somewhat excited on cables OF sd
advance both in London and Liverpool, and
on a strong demand here from shippers both
for spot and future deliveries OF all grades,
but chiefly of No 2. the nearer deliveries being
the stronger and higher, while August was
not so strong. This fact is explained by an
other important fact, that not a load of canal
corn has arrived in the last ten days that has
graded as No 2. Hence the anxiety OF the
shorts on June and July No to cover, eS-
pecially on the June, as that Is nearest ana
the danger of a corner on that month the
greatest. The same danger and conditions
exist for July, only 10 greater extent,
the hot weather risk is greater In
that month, if not the short interest, while
receipts, present and prospective, are light
both here and at Chicago. Indeed, that mar
ket appears TO be getting in much the same
precarious condition as this. II has been sold
down like this, on the hot weather scare, ag-
graVated by the experience of last year in hot
corn, and by the belief that there was p per
cent more corn in the country than year
ago, when lower values ruled. The ample
stock in Chfcas O of 4,0OOOOO bushels also de-
pressed the market on the eve of hot weather.
This happened at the same time that this mar
ket was overwhelmed by the first large receipts
BY canal during hot weather. In this state OF
affairs speculation on the bear" side predom-
mated, both here and there, all seemingly los
ing sight of the fact that receipts of corn at
Chicago were considerably more than 100000
of bushels short of the same time last year.
They also seemed to overlook the fact that
ocean steamer freights were down to the low
est rate accepted since the compact between
the steamship lines, and that with no other
freight of Importance steadily Offering ana a
European steamer booked for each day of this
month, the heavy export demand for corn was
likely TO continue.
These facts now appear to be gaining weight,
and hence a corresponding anxiety of buyers
to cover contracts and of shippers to secure
their supplies for the next two months. That
Chicago, which is proverbally on the bull
side, declined "Wednesday morning, in the face
of sharp advance here Tue. day, both on
spots and futures, and of a Sd advance in Lon
with suspicion when houses here with specu-
lative connections in Chicago were selling this
market heavily, as was seen from the regular
report, which recorded 1901 coo bushels sold on
that call. This was taken quickly by the ship
pers including those noted in our regular re-
port of few days since as large sellers mere
and much larger buyers in Chicago. In this con-
nectiOn il is of Importance to state that Wltnln
the last two days liberal orders for the pull
chase of No corn here for July and August
were received from large western shippers of
corn, as noted in our reports, and some OF
them came without limits. When IL is con-
sidered that until this season we have had no
speculative interest in this market TO inter
fere with the regular course OF The export
trade it may readily be cOnJectured how this
state of the market may be manipulated and
aggravated by speculatOrs. With the excep-
tiOn of one week we have had remarkably
weather Is greatly increased, and il no No
corn has come in by canal in the last 10 days
OF cool mot to say cold weather, where Is the
No to come from in hot temperature after
month OF rain and damp weather? is now the
important question.
GROCERIES.
In groceries the market is undergoing no es-
sential change, and fair jobDing trade is re-
M "A
follows by the Daily Bulletin of Wednesday:
The break on the market for sugars. noted in
our last review, has made further slight pro-
gress, and quotations are again shaded OF &c
per lib, bringing fair to good refining down to
9A9l0c. AT this there appeared to be an effort
to hold the market and give an air of rather
more steadiness, but the result was not of a
very positive character, and the close of the
week found the position more or less nominal.
Refined sugars have been selling slow and low,
with considerable offerings from neighboring
points, especially Boston, at rates under our
own market, and this 10 some extent was dis
cOuraging, while the full laccumulations OF raw
IN nanus naTe t refeiVeu ,f inruner p
sure To realize from importers, however, has
not been very severe, and toward the close of
festations of increasing Interest, especially on
fine musc0vadOeS.
Coffee has been more active and firm. On
Brazils importers received the announcement
of further stimulating telegraphic advtces
from Rio Janeir0, and gained renewed conf
dence, which, after some delay, was partaken
some little NEUTRALITY-SUSPICIOUS. 1900 bags
changing hands In cargoes and invoices.
Prices also went up &c per h. and nd were firmly
basis of le1zc, gold, for fair cargoes. The call
from the interior, however, has not given al
sogethe ~, @ @StS;ae1oIy eVaences % 0I an trad ~
move with caution. Vest India styles have
gone out TO a very fair extent, and of some OF
the most desirable lots the stock In first hands
Is grately reduced, naturally giving a tone of
greater hrn ness. The movement OF Java, 10
arrive, referred TO In our last, reached about
100 piculs; but the market has since been
quiet, due In part, TO The extreme rates asked
-25c gold being rather inside.
Rice has developed no positively new fea-
lures Tie stock here is moderate, with few
additions, and accounts from the south gen.
orally are favorable TO the selling interest,
and these points together hold prices steady,
but the demand is net very spirited and buy
ers are confinIng themselves closely To actual
bing way, but invoices rather slow and nom
inal, except possibly for ginger, In which
holders appear to have considerable faith.
worked off number OF small parcels, and one
full sale of Japans was c0nsummated, but the
demand lacked life, and 60 realize readily IL
as to price. There is a belief that auction
sales will be less plenty for some time, and
this, the trade hope, will bring more business
DRY GOODS.
The dry goods market is steady. The daily
New York Bulletin reviews the market as fol-
lows:
Cotton Goods.-From first hands there has
been fair movement in brown sheetings, In
which fine browns, leading four yard makes
and light browns have participated, and prices
are steadily maintained. Bleached shirtings
continued sluggish and wide sheetings ruled
quiet. Colored cottons were taken In small
lots TO fair amount and are steadily held by
agents. Marseiiles quilts We're comparatively
slow, but crochet quilts were in moderate de-
mand and leading makes continue closely
sold up TO receipts. Piques remain fairly ac-
tiye and are in scant supply.
Pribts.-There has been a moderate move
ment in medium fancy prints from agents
hands, and shirtings were rather more freely
taken but light prints, of which the stock IN
first hands is now exceedingly small, moved
slowly and in small quantities The approach
of the Fourth of July has given an imnefus to