The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-10-13
COMMERCE..
Review of the Local Grain, Produce. and
Provision Markets.

Review of the Local Grain, Produce. and
Provision Markets
INDIANAPOLIS, Oct. IL.
The local merchandise markets continue fairly
active. but the low prices in grain and the un-
settled condition of the provision market doubt
less is something of a check upon trade. The year
1888 bids fair to be marked one in the history
of trade, commerce and prices, and particularly
In the grain trade. The harvest is not specially
abundant, and yet prices are low. Europe will
need whatever 1t can obtain of imported grain,
and yet our own exports are slack. Notwith-
standing low prices, farmers offer their stock
freely, and the result is that all markets
crowded, the effort being another decline of
prices, Hasty thinkers might almost be par
doned were they to conclude that the economic
law of supply and demand is failure, or that it
bears upon prices the law of gravItation affects
the cost of railroad transportation. Neverthe-
less, the markets OF the world must be assumed
to follow some law, and certainly nothing very
extraordinary has happened to demOralize com
merce. One favorable feature is that collections
are easy; seldom are merchants more prompt
IMAM now In settling their bills. Eggs, butter
ana poultry are in good supply, and with
an active consumptive demand; prices
are well sustained. There is nothing new to re-
port IN regard TO the hog products; business
only fair, prices unchanged. GrOcers are hav
ing steady, fair trade. The demand for sugar
has fallen off somewhat, and the market is cas-
ler although we have made no change in our
quotations. Coffee continues very strong aud
excited, with further advance of lac on roasted.
New York paper of Tuesday, in referring to
that market, says: CAN grades were carefully
and ludifferenty offered, and, while the absence
of actual business naturally leaves rates in q
slightly uncertain position. about lie for fair
carEoes Is probably an inside quotation at the
moment. On the contract market there was a
decidedly chilly atmosphere for the shorts, a
very exciting tone prevailing, with an immense
business done and rapid, liberal advance TAX
ing place on prices. The Improvement was
most decided on this month anu next though
the buoyancy extended to the entire line, and
the shorts have covered right and left, with
many subjected to a very severe squeeze. There
Is really no new feature, but an apparent con-
nrmatlon OF previous reports, the private ad-
vices from Rio JaneirO said to be very stiff, not
only as regards the prospect for early supplies.
put on the general outlook for the crop, and the
bears have become thoroughly alarmed"
Canned goods devoid of any new points, with
the exception that tomatoes have weakened
CONSIDERABLY, as compared with week or two
ago Mackerel continue firm, and, as Will be
seen, we have advanced our quotations.
GRAIN.
No better, is the common remark as regards
the wheat market The Board of Trade Price
Current says of wheat: We fail to note any i'm
provement in local markets. aud they still con-
tnue duh and uninvlting Very little is offered
and very little is wanted at the present figures.
Seaboard Is still marching with fractional steps
toward lower quotations. and just where the
bottom is is matter of conjecture. Philadel-
phia has toned up slightly since opening. Very
little stock of any kind arriving locally. We
quote:
No. Mediterranean, track. $1.07
No. Mediterranean, track LOS
No. Mediterranean, track 1.02
No. 2 red, track 1.01
No red, track. 90
Mixed. track 90
Understandable, track. 65
October, track OBSERVATION-DISCLOSURES. 1,00
November, track ACKNOWLEDGEMENTS LOO
Corn-We note a feeling of dullness, which
savors slightly of weakness, while the demand
is fair. yer buyers do not seem to he willing to
meet the prices of sellers, and per consequence
We fail to record trading Markets are 12e lower
at New York, nominal at Baltimore and higher
at Chicago. We quote:
No white, track NEUTRALITY-SUSPICIOUS. SSa
No s white, track. AZ y
Yellow, track ACKNOWLEDGEMENTS 4Sl2
High mixed, track -.-..-----..--..---...--.- 48
Mixed, track. ACKNOWLEDGEMENTS 4S
No. g. track. 46
Sound ear, track ACKNOWLEDGEMENTS. AZ
December, new, track. Observation-Disclosures. SO
Oats-Local markets are in about yesterdays
position, with shade dulness of tone. We
quote:
No. 2 white, track ACKNOWLEDGEMENTS. 29l2
mixed, track .--..----.-----.---..--.-- zIi9
hejectou, bfack 20
Kye-No. 2, steady; 52c bid; no sellers.
Bran quiet; $l2 bid; none offered.
GRAIN IN STORE.
Got IL, 1883.