The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-02-08
POCKETING THE PROCEEDS.
The Wheat Bulls" Sell Out and Pocket
Their Two Cents Profit.
Corn Continues Strong and Active, Despite
All Obstacles, While Provisions Are
Slightly Lower All Around.
Special to the indianapolis Journal.

CHICAGO Feb. 9.-There were too many hold
ers of wheat satisfied with a clean profit of &c to
admit of a continuance of yesterdays boom in
that article. The early quotations were watched
with the greatest of care and on the first indica-
ton of decline large quantities of wheat were
thrown on the market which, although prompt
Iy taken by crowd who consider 81 very low for
the May option, had the effect of keeping the
market nearly 1c under yesterdays limit. Had
it not been for decrease in the visible supply
of more than 1000, OOObushels, so much realizing
on long wheat in so short time would
doubtedly have resulted in a considerable break
AS it was at least l 1-2c of yesterdays
advance was maintained throughout the
day, and the market closed the same as yester-
day, $100 II for May, and strong and fairly act
i've. The big provision men We're conspicuous in
the wheat crowd yesterday and to-day, and it is
said that more than two or three of them profted
so well that they have got entirely rid of their
stuff and retired to their legitimate pursuit of
4. conciliating the country speculator. OF those
who absorbed the loads of wheat thrown over
board to-day, N B. Reem is reported to stand
head and shoulders above them all. He is said
to have taken nearly 100000 bushels. He is
closely followed by others of his guild and
horde of petty imitators, who, altogether, saved
the day for the ''bulls"
In spite of an increase in the visible supply of
corn, amounting to over LOO, 900 bushels, that
article continues strong and active. There is
at least one way of accounting
for this, even though it ought not to material
ly affect the present situation There are re-
ports that in the South large losses are likely to
where whole fields of corn remain yet unhar-
vested, not to speak of the danger which me-
naces corn in the crib from like cause. How
ever much the reports have to do with the main
tenance of present prices, it is, at any rate, ap-
parent that the dullness usually resulting from
increasing receipts is not feature of the pres
ent situation in corn.
Provisions seem to be getting topheavy,"
was remark made change to-day. The bull
letin board where the aspect of the various arti-
cles on that list appear was less
encouraging to the bulls" than for
some days past Pork closed
to-day at loss of 10c from yesterdays closing
figures. 1t barely reached $3.50 for the May
option, and went down as low as $3.50 The
market was fairly active in local circles, with
faint sprinkling of outsiders, who are never
very anxious to buy except a sharply advanc-
ing market. AS an evidence of the dampened
ardor of country spectators, glance at the
groups of messenger boys with nothing to do,
and the telegraph operators on Change with
plenty of time TO look about them, offers ample
testimony
The curb closings were little stronger for
provisions, while grain was trihe weaker May
wheat, 81 90 5-8 bid corn 50 3-Sc bid oats 81 4c;
pork, $17.7O; lard, $9 80; ribs, $780,