The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-10-16
COMMERCE..
Review of the Local Grain, Produce, and
Provision Markets.

Review of the Local Grain. Produce. and
Provision Markets
INDIANAPOLIS, Oct Is.
! Trade opened to-day little slow, but an i'm
provement is looked for as the week advances,
Prices in the grocery and produce lines were
| steady and firm, and merchants, the whole,
are feeling cheerful over the situation. The
New York Shipping List of the 18th, says Of the
trade: There has been little or no change in
the business situation during the week. Cheap
transportation in all directions tends to facili-
| tate the distribution of general merchandise.
The supply OF money continues exceptionally
large for period when accustomed to
look for stringent market. This monetary
plenitude may be accounted for by the fact,
first, that the autumnal drain Of currency TO the
West and South to facilitate crop movements is
to a great extent Offset by the treasury disburse-
ments for account of called bonds and interest,
and, second, by the shrinkage in prices during
the year, which to that extent lessons the re-
qnirement OF money to effect the exchanges. AS
a consequence, the rates are comparatively low
on call and for the discount of such mercantile
paper as will pass the close scrutiny to which it
Is now subjected; but single name and second
class paper Is difficult to sell at any price ard
this feature of the money market is the leading
characteristic in nearly all the large cities of the
country. Money is plenty, but confidence is dis
tuPbed by the continued Grouping out OF fail
ureS, the list of which for 1883 promising to be
altogether without precedent, except, perhaps,
III season of panic widespread commercial
con- usl0n. These features are clearly legacy
OF the imitation of credits, Over-tradlng and gen.
eral extravagance which prevailed during the
three prosperous years 1S79-S1, and are not at.
trlbutaole, as some suppose, to unsOnEdness OF
current trade of business methods. Neverthe
less, they are an uuerring indication that the
process of liquidation has not yet ended Thus
history constantly re peats itself; we go from one
extreme to the other There is now, perhaps,
TOO much leaning to the conservative side, as
there had been during the years mentioned an
excess of confidence and straning of credits to
the utmost tension. 1t would seem as though il
were impossible for the commercial interests to
strike The happy mean"
GRAIN.
The local wheat market, to-day, opened weak
and continued so through the day. The Board
of Trade Price Current says OF this cereal: The
week that has just closed has been very dull and
weak, local markets showing the same prices on
Saturdays call that were bid on last Monday,
viz, 81. OIL q track. The promise of the bulls
"that early in the fall we would see better
prices" has not been fulfilled. We believe as
long as the surplus intended for expectation re-
mains in the country, prices will not boom. OF
course it may be eornered but corner advances
are like dropsical flesh, not a very good sign of
robust health. What the outcome will be the
"oldest inhabitant," like the deponent, "testi-
fieth not" On call, to-day concessions of l4c
were made by sellers, ana buyers are Offering l4c
less than on Saturday for No. red. SeabOard
failsto show any Improvement, and we quote
New York 14c off. Baltimore SEC off, and Chicago
lec off from Saturday, We quote:
No. Mediterranean, track. $1.06
No Mediterranean, track ---....-.--. LOS
No. Mediterranean, track LOB
NO. req, track ACKNOWLEDGEMENTS. 1.01
no. req, track-. 30
Mixed track
SotoDoi' Iach ----.------a- III
November, track. ACKNOWLEDGEMENTS 1.Oll9
Corn-Local markets rather steady, and
very little change either in feeling prices is
noticed. Our home markets do not sympathiZe
quite so readily with the fluctuations
board, as our receipts at present scarcely ex-
coed local dem ands. AT eastern points markets
are lower, the heaviest decline being at Balti-
more, which has gone off lie. We quote:
No. 2 white, track. Observation-Disclosures. 481o
10 D me- Irach- '---------------.-. g. 2
4eHOW, TRACK. AZ
HlSu mixed, tfach------ 4S
Mixed, track. ACKNOWLEDGEMENTS. Az
No. 3, track. 40 q
Rejected, track Observation-Disclosures. 40
Sound ear, track. NEUTRALITY-SUSPICIOUS.. AZ
Oats-Localy note this cereal rather firm,
as under light receipts the demand is good. We
quote:
No. white track 29ia
Light mixed, track ACKNOWLEDGEMENTS. %
Mixed, track 2S14
Rejected, track 70
Rye-No 2, dull ana unchanged; SOC bid; held
at 55e.
Bran firm; $1275 f. o. b. bid; no sellers.
Oct. IS. 1888.