The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-01-07
CHICAGO SPECULATION.
The Lightest Days Business for the Week,
and Prices Confined to Narrow Range.

CH1oAGo Jan 5.-Business on Change to-day
was lighter than on any previous one this week.
The annual election attracted the attention of
many large operators, and more time was CON
sumed in discussing the merits of the various
candidates than in trading. The extreme cold
weather greatly interrupted telegraph communi-
cation with all points, and the bulk of bust
ness was on local scalping account with prices
confined to a very narrow range. The receipts
of grain and hogs showed heavy falling off,
which is accounted for by the cold weather, and
the indications point to light run on Monday.
The wheat market was quiet but averaged firmer
The movement for the week shows an increase of
$50, 900 bushels and stocks are now estimated
at II, 900, 900 bushels. Trading was almost en-
iirely between the local crowd. and the market
had the appearance. of being held by the covering
OF timid shorts, who were scared at the strong
undercurrent that was noted all day. The Ad-
amss were among the heaviest purchasers, but
their takings were not large. Roche also bought
freely early in the day, and succeeded in getting
about 100000 bushels. Fluctuations were CON
fined to 34c range and closed Lac better than
on Friday. Opening sales of January were at
"a lie, and after few fluctuations advanced to
"a 7-8c February ranged 1c over January. May,
which is the favorite deal, opened at $1.O2 1-2,
declined with light sales at $1.02, when local
shorts bought fairly and prices advanced to
81 02 3-4 weakened 1-2c on selling by parties who
> had ha,4eht at the bottom for scalp, again re-
seted and closed at the outside prices of the day
After the close stronger feeling developed and
gales on the curb were at $1.02 7-80 A little
more inquiry was made by millers and small
shippers for car lots on account of the 10c de-
cline in freights East.
Corn was stronger, with trading the same as
in wheat, chiefly on local account The receipts
showed a decrease of ninety four cars and 80
per cent. of the cars inspected was contract
There will be an increase ia the stocks in store
here of 389, 900 bushels, which makes the total
stock 8 400 900 bushels. February is well thought
of by Schwartz 81 Dupee, Baker and others,
who are said to have quietly secured large lines
with the intention of holding for a bulge as
heavy falling off in the arrivals is predicted The
cash deliveries to-day We're fair and the bulk
went to Schwartz & Dupee, who are carving it.
The market opened steady, declined a trife
advanced 34@1c reacted 3-4c, became stronger
recovered the decline, and closed at almost the
outside prices .a
Towards the close stronger feeling was de-
veloped, and prices again advanced and closed
at 60 Is 060 l-4c. june and July were neg
prices advanced 303 lac, and closed nearer the
price of No 2 than for some time past
Trading was very light, but strong feeling
prevailed and prices were confined to 1401-2c
range. January sold at 33 "a 033 7-Sc February
80 5-8 034c, and closed at outside. May at $40
S8 1-4e, and closed at So 38 1-8c. Rye quiet and
steady. Barley not fair call, but the demand
was chiefly for car lots, which were offered spar
ingly and held firm.
The provision market exhibited feeling of
hrmness and prices averaged higher Foreign
advices were strong. Receipts of hogs were
pork was firm and advanced 10 a IL he but the
range was not large. Fowlers were among the
chief operators and bought May freely, and the
Indications point toward better prices.