The Indianapolis sentinel. [volume] (Indianapolis, Ind.) 1880-1904, 1885-02-02
The Markets, Like the stone OF sisiphus.
Only Boosted Up tn Roll Down
AgaiD-DespeTate Gamblers.
Special 70 the Sentinel.


CHICAGO, jan. sl.-The markets on Change
during the past week have again shO va something
of their old time life and activity out IL has been
around.
Wheat started weak and heavy, with Gyp Ad-
ans. Ma, Jones and their followers selling freely.
but the bulls msnfully fought against decline.
and countrymen, contrary to their usual custom,
doubted their purchases ut each fractional drop.
encouraged by the belief that TUESDAYS visible
supply figures would show a decrease. This, now.
ever, they failed to 40 In fact they denoted that
during the previous week supplies had increased
something over quarter million bushels. aud the
market broke all to pieces in consequence. En-
couraeed by this the bears have kept up a
continual pounding ever since, aud. aided by
dumping on stop orders and the throwing OF
weak bulls they have succeeded in pretty
thoroughly demoraiizing holders, aud all but the
strongest bulls have been shaken out Prices nave
huctuated sharply and widely. but each day
touches a lower point than before reached and
toward the finish the princjnaI bnTinS was nv
shorts covering at q profit. The outlook now
too is not thought to favor much improvement
and many are predicting lower prices for May
than have yet been recorded. The fact that the
supply continues so large in spite of increased
~ sun P'IVn Suu in0ISaseu eApoIs sho"s that
the stock OF wheat in the country is yet very large
The weather is becoming milder and with the
embargo on the railroads removed much heavier
receipts are looked for Ii will take s0meth ing
sensational TO check the enthusiasm of the bears.
who are again becoming rampant in their conyic-
With a long spell OF warm weather 70 remove the
covering of snow from the ground unfavorable
crop reports may again be expected and viii per-
ket for another advance.
Milnimac says tonight: ut is uncertain
kind OF market and will be difficult TO ride sue
cessfully regard sales made on bulges or pur.
cheses or breaks as standing about equal chance
of winning
Another trader says: The market is so heavily
short that il will be impossible to even up with.
out big bulge, and any actual damage to the
growing crop would set things soaring"
When the feeling is weakest it is often Just the
time when some strong hand takes hold. Sid
Kent is believed to be still under the market aud
so are Baxter and Bliss.
Corn has been depressed on account OF the
restoration of freights East the old pool rates
which was equivalent to reduction OF 293c i'm
the price paid in Eastern markets. The general
orinion seems to be that corn can't go up much
with wheat so heavy aud Will not decline much
with such small receipts. Everybody is expecting
al increase but for some reason IL does not come.
At the start hog products seemed inclined to ad
vance under decreased receipts at the yards and
the reported very heavy shipments of meats. but
the weakness Ia surrounding markets proved too
much for the boys. and provisions gave way in
sympathy. Trade is light, and the cash demand
shows signs OF letting up. so that with continued
weakness in the cereals many expect a further de.
cline in products. Packers now, however, have
their cellars full and are interested In preventing
any downward movement, while spectators nave
too vivid a remembrance of last years experience
10 get heavily short on anything In the provis-
ion line