The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-01-25
THEGREAT GAME SEE-SAW
And How Tt Is Played by the Grain
Spectators Of Chicago.
The End of the Board Occupied by the
"Bea rs" Takes Downward Sweep
The Crop Of Hogs.
Special to the Indianapolis Journal.

Special to the Indianapolis Journal.
CHICAGO, Jan. 24-Wheat occupies, just now,
much the same position in the world of com
merce as does the long, slender plank in the
childish game of 'see-saw, but it is doubtful if
the "bulls' when their end goes down with a
swoop, experience the same sense of keen en-
ioyment still fresh in their memories when they
view retrospectivey the "see-sa~' game OF
their childhood. To-day the "bears" were in
the dust. The provision men who sold so
heavily yesterday turned around and
bought, as did a good many other
''bears'' whose lack of strong partisan
principles may result in their involuntary ostra-
eism and transportation to the other side of the
speculative menagerie. Taken altogether, the
buying to-day was considerably in excess of any
other day this week May wheat opened at
SO 5-8c and closed at 81 58c Some far-seeing
traders, who have good line of country patrons,
are making a good record. On the theory that
the wheat market is not yet ready to advance
permanently, they wire their customers on every
bulge to sell and every break to buy. The
profits are not large, but they count, and pay the
broker aeoR1mission that he would lose were he
to wait for something to turn up.
AOAAA
$3.50 for May pork, at the opening to $16,
closing trife higher. The packers are neither
selling nor buying they are said to have aban-
doned all hope of breaking down the price of
hogs, and are now waiting for a margin of
profit. The large receipts of hogs promised for
this month have so far, failed to materialize
There seems to be a possibility that the country
is not SO full of them as had been industriously
reported up to the time of the packers accession
to the ranks of the bulls"
Corn advanced 3-Sc A good deal of corn was
bought by the crowd, while few sold expecting
preliminary break before the grand bulge.
There is still very small outside trade. The
feeling is, however, that the 'lambs" are only
waiting, to be sure before they go ahead. They
evidently intend, this time to look before they
leap, so to speak
The trading on the call was enormous, and the
alarm among the provision ''shorts" apparently
very great. Pork changed hands in ], ,000- barrel
lots and 5,000-barrel trades were made more
than once. Singer offered $1605 for 5000 bar
rels of May pork, and almost Immediately after
wards the figures went to SIG 10. The close was
$1607 1-2016.10. The big four were buying,
taking in their t'shorts May lard closed at 30c
with large transactions When it came to wheat
the figures which were 81 5-sc for May upstairs
at the close, were run up to 98 1-8c, and Hobbs,
Henry Warren, Bangs, Lindblom, and Robert
Warren took hundreds of thousands of bushels
and bid for hundreds more above 98c The close
was 90 1898 1-4c.
The trading in corn was not so large, but the
price was run up to SIS 5-s@5S 3-4c, where it
closed for May. May oats stopped at SO Use.
On the call, wheat last night sold at 81 1-Sc, so
that those who sold then are out over cent a
bushel on their transactions