The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-02-14
HIGHER FIGURES FOR CORN.
An. Advance of One Cent, with Indi-
cations of an Additional Rise.
Some of the Reasons Assigned for the In
crease in PriceS-Higher Figures
Predicted for Pork and Lard.
special to the IndianapoIis journal.

Special to the indianapolis Journal
CHICAGO, Feb. 13.-Speculators on Change
took hold of corn to-day, and that article
sisted to boom of lc which it maintained
with every evidence of an intention to do even
better tomorrow. Corn was essentially the fea-
ture of the market Among the big bulls who
lent it their influence were noticed Poole Kent
G. Co., Jones and N. B. Ream, and the credit of
to-day's advance is doubtless to a large extent,
due them. There are however, other and more
reliable influences to be taken into consideration.
Receipts are beginning to fall off Yesterday
1853 cars were received, while to-day the bulletin
board announced the number to be only BIO
Reports of very ''bullish' character are COM
ing in from great corn districts On two roads
in Iowa it is reported that the stocks of corn are
fully 10000, 600 bushels less than last year
Added to the prospect of light receipts is that
hackneyed bull" argument, bad weather, and
and they could hardly wish for worse. "Sell
wheat and buy corn was remark made on
Change to-day, which was quickly challenged
by trader on the opposite side of the fence, who
answered: DO nothing of the kind corn is
higher in proportion, now than wheat" This
may be, ordinarily but the present situation is
somewhat unusual, owing to the large stores of
wheat and light demand and the decreasing
supply of corn, its generally poor condition, and
a great demand There are, at any rate, suf1i-
cient indications that corn will go higher to at
tract large proportion of the Spectators, who
have for some time devoted themselves almost
entirely to wheat.
Next to corn, provisions came in for consdera-
Bile attention. Owing to extensive realizing early
IL Ii i IL.
This quickly recovered, and before noon
May pork sold at 1882 ID, closing one point
lower. There those who predict that pork
will sell this year for $25. In the language of a
firm believer in high prices for provisions, Hogs
don't come in receipts constantly growing
less, and it looks as though stocks were nearly
exhausted. For two years pork has sold
for $40 and over, and during
that time causes for high prices were never so
well developed as they are to-day. There were
fewer hogs slaughtered last fall than has been
the case for several years. The packers cannot
help things out now on light receipts and high
prices of hogs; you may well make up
your minds to pay well for what provisions you
buy the rest of the year"
Wheat closed exactly at its closing figure yes
terday-$1.O2 OF 3S; opened at $1.O2 1-2 and went
as low as $LO1 5-S. Trading was
very active throughout the day, and was partici
pated in by local spectators only.
There was much excitement on the curb in
corn, oats, and provisions Very late there was
quite ripple in wheat caused by some tele-
grams from New York announcing higher prices
and a demand from the export trade. The quo
tations on the curb were: May wheat, $1.O2 1-20
LO2 5s; corn, Gle bid; oats, 38c; pork, $3.50
lard, 1922 lie; ribs, 90S I-2c.