The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-01-10
BULLS In THE ASCENDANT
Great Activity in Wheat and Corn,
and the Bears Discounted.
that Armour Is Attempting Huge
Corner in Provisions.
Special to the indianapoli. journal.

Special to the Indianapolis Journal.
CHICAGO, Jan. 9.-The receipts of both wheat
and corn were smaller than had been anticipated,
and there was increased activity to-day in both
pits. Wheat was persistently hammered, but
for the time the 'bulls7 were in the ascendency.
There was a reported decrease in the visible sup
ply of about half million bushels and tee-
gram was received from New York that the ex-
port demand was increasing. On this William
Murray covered large line of shorts" and
went long" to considerable extent The
sar, parties who were buyers on yes
terday were buyers early, but some
Of them sold later, when advices were received
from New York that there was absolutely no de-
mand for export
The buying and selling of longs" in amounts
by such men as Messrs Murray, Hobbs, Com
stock and others are not indicative of the real
status of the market. They are not 'stayers "
A ripple of news, either favorable or unfavora-
b., . .-Nevenent of the market cent either
way, and or even smaller change will
cause them to dump their holdings and either
take a small profit Or pay the differences. Hence
they are considered an element of weakness
rather than strength to the side to which they
temporarily attach themselves From to-days
disclosure it seems as though Cincinnati. st.
Louis and indianapolis were of similar minds at
the present the market. They appear to be
"bulls" on wheat and ''bears" on corn and pro-
visions Nearly 150O 900 bushels of May wheat
were sold on the call at $1O1 $40
$l.02 1-S, and the market closed firm
with $1.O2 bid Schwartz & Dupee were heavy
buyers on both boards.
Corn was very active and unsettled, but 1uc-
tuated within small limits there being differ
ence of opinion in regard to the January deal
Nat Jones and R. w. Clarke & Co.. (the sue
cessors to n B. Ream & co., attempted to probe
the situation. W. T. Baker & Co., sold heavily
Of February corn and the market was forced
down about lac. At this point A. H. Bliss, Sey-
mour & Hunt Schwartz & Dupee and other
large spectators, bought literally and the mar
ket recovered all the loss in February and ad-
vanced 3Sc in January.
There are but few who doubt the existence of
the January deal and its being carried over into
February
Corn closed very firm on the curb tonight at
the following prices: bid january So 7-8c; Febrr-
ary, So 3-4c; May, SO 5-S.
The demand for cash meats is picking up a
little, but the speculative market does not re-
spond with animation. There We're reports that
Armour has been buying extensively of pork and
ribs with an eye to "bulllng" the market. This
can be taken with some allowances, and it may
be true. 1t is not Armour's way of starting a
boom. When he goes on the war-path, he does
not let his right hand know what his left hand
is grasping for and general rule it is best to
copper all of Mr. Armour's public transactions
IN connection with the markets
There is a large short" interest in the mar
ket and some concern like Armour's, Fowler
Brothers the Packing Company would
have little difficulty in making squirt, still the
crowd are believers in lots of hogs eating bad
corn, who will down the market in the spring.
An old packer remarked to-day: "Those pack
ers who have bought the fewest hogs, will be the
happiest in the spring time coming"
Thirty-fv thousand barrels of pork: 2. $50
terces of lard, $4,000 pounds of short ribs were
traded on the call. Everything closed steady,
at the following prices bid: For February pork,
$l455; lard, SIS. 9O and short ribs g. AZ 12 There
is irmer feeling tonight all around, but the
source of strength have yet to discover.