The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-08-18
Master Workman Campbell Pro
nounces the Strike Failure.
The Operators Permitted to Return to WOrl
on the Best Terms They Can Make
with the Company,
BUSINESS MATTERS.


The Fluctuations of the Chicago Markets
During the Past Week.
Special to the Indianapolis Journal
CHICAGO, Aug. 1.-THE week on Change
opened with weakness prevailing, and the
first movement was sharp decline but the
improved feeling in Wall Street later on had
bracing influence and turned the tide up
ward. Now grain and provisions appear to
have cut loose from stocks to follow the lent
of natural influences. Not very large vol
ume of business has been transacted on
Change during the week, the crowd yet
waiting for new Developments, but enough
has been done to bring abouta healthier tone
all around, which promises better things for
the future. The position of the leading op-
orators has apparently changed somewhat
Armour has freely sold provisions, seeming
ly to force prices to the bottom that they
may then move up again. Kent has dropped
good deal of wheat for the same reason.
Lester and Kershaw have been buyers of
the leeding cereal, and have absorbed great
many thousand bushels, but at the same
time both have sold freely on bulges. This
has seemed the policy of most dealers during
breaks has indicated a general impression
that no very great decline is now to be
looked for while liberal offers when a
fair profit has accrued shows
that the majority believes no great advance
probable in the immediate future. The ship
ping demand for corn, while still good, is not
what it was few weeks ago, and while the
movement of wheat to the seaboard has in
creased, yet the receipts here have kept up
in proportion.
Various influences have been brought to
bear on the wheat market. Foreign advices
have generally been of strengthening ma
ture. Indications that Europe will need a
larger proportion of Americas surplus than
last year have conduced to influence buying
to some extent. The shorts have also been
in the market. On the other hand, the
weather in the West has been favorable for
the maturing spring wheat, and crop advices
are more favorable than for some time past
The news from Minnesota and Dakota
pointed to a yield in that section that has
never been surpassed, and the harvest pros
poets in Wisconsin were stated to be most
aattering. From Tuesday up to Thursday
the bulls had the advantage, but on the latter
day the bears, by stubborn resistance
scored slight victory. There was, however,
no particular weakness shown at any time,
and the liberal increase in the movement of
spring wheat, indicated by the postings, had
less effect than might have been expected
The heavy sellers of the first days of the
week have been buying back portion of
their late sales, and the outlook is encourag-
ing.
The receipts of corn during the week have
been large, but liberal charters to meet pre-
vious sales have counteracted this bearish
influence. There has been natural reac-
ton from the decline brought about by the
panic in New York, but the market is in
danger of drifting into a condition of dull
ness that will preclude any considerable
movement either way. Nothing more is
heard of the rumored squeeze in August at
New York that was thought to be the cause
of the liberal demand from that point. Any
further advance in freights would again
impede shipments but this is not appre-
hended. The progress of the corn harvest
toward maturity is being watched with
great deal of anxiety. There is no doubt
but that if no frosts intervene the yield will
be most bountiful one, but at no time has
the danger of an early frost been greater
than now 1ncalculable damage might be
done in single night. Besides the setback
incident to the late spring, the continued
cool weather is having a marked effect in
retarding the growth. The meteorological
records of the agricultural college at Cham
paign, this State, show an average tempera-
ture for several weeks past some fourteen
degrees below the mean of former years
This is significant 1t would seem that
the fears expressed have a sufficient
basis and the bears hesitate to make any de-
cided movement until the present uncer-
tainty is in some measure removed. The
weather is risky element to bet on, and
everything now depends thereon. 1t will
yet take four or five weeks of fine growing
weather to assure us a big crop. Conserva-
tive commission men are advising their Gus
toners against selling short until decided
warm spell sets in. A prominent merchant
received on Thursday cablegram offering
him II cents for 90, 600 bushels of No. 2 corn,
laid down in Liverpool which meant net
profit OF between and cents, indicating
that cash property is wanted for consumption
on the other side of the water.
The oats market is lar.ely in the hands of
local operators. There is a good movement
eastward, but the prospect of an uuprece-
dented crop holds prices down with a tena-
cious grip
The downward course of provisions has
been checked, but there is as yet little press
ure from the bull side. There is apparently
no urgency in the demand from any quarter.
The main prop to the trade is lard. Hutch
inson and the Chicago Packing Company are
no longer sellers of this article, but have
been buying Fairbank. keeps his line,
and is also shipping freely. New York
parties are showing disposition to buy