The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-08-01
INDIANAPOLIS MARKETS.
The Country Full of Breadstuff, and Slug
gish Markets.


The Country Full of Breadstuff and Slug
gish Markets.
INDLANAPoILS July 81.
Since July the general situation of trade and
industry has certainly shown some Improvement.
This remark will apply to all parts of the
try, yet the activity is so difused that it attracts
much less attention than is drawn to the cases
of dizziness or actual suspension of work Then
there is another favorable condition. There is a
greater unanimity in expecting a fairly good
season of business during the autumn
months. The movement of breadstuffs is Pc
cuiiar Although the wheat crop will be very
much smaller than that of last year, the accum-
ulation of wheat at the interior markets is
cessive and the eastward shipments compare
lively small. Chicago is practically full, and
lake vessels cannot secure freights even at one
cent per bushel to Buffalo With new wheat
soon to arrive in large quantities. the eastward
shipment must be largely increased; but this
may be preceded by still further congestion in
warehouses and floating storage. We wish there
signs that the cost of all this storage would
cause sharp advance In money, which, how
ever, might come with very little warning. In
any case the movement eastward, both for do
mestic consumption and for export, must
become important before long, and as
usual, play an important part in the au
tumn business of the country. The -four
market continues sluggish. The Boston Journal
of the 29th says The -four market is dead, and
it evidently has been afflicted with sunstroke the
past week or partial paralysis, as the business
has been of a trihing character. AT the Same
time there IS no change in the confidence of
holders and no pressure to sell at concessions.
If -four is selling at very low prices now lower
than the cost of production it does not follow
that it will continue so for any length of time.
With the thermometer in the nineties it is per-
haps expecting too much to look for any activi-
ty. The great complaint now Is that We have
too much choice -four. The mills of the country,
when In full operation, can almost supply the
world Even now, when a large portion of them
have suspended or are on short time, there is
too much flour coming forward. There
is no great stock here but the reports that come
to Us from New York show that that market is
oyerstocked and while such condition exists it
is useless to look for any favorable change in
prices. We are rather disappointed in the
ceipts. From the large stopirage of machinery
we supposed there would be a considerable fall
ing off, but such is not the case. When the
leading English markets overloaded with
-four and wheat, when our leading markets are
overloaded you cannot convince buyers that an
improvement Is near at hand. Overproducton
has been the great drawback in almost every
branch of business, and Western millers must
hold back supplies If they want to see favora
bic change in the market. This state of things
is even more pronounced in Great Britain than
on this side There were no changes in values
to day calling for special mention.
GRAIN.
The local market is in better shape Dealers
take hold more freely, and bidding on Change
was spirited. The Board of Trade Price Current
SAYS of wheat: LEGAL markets are steady. with
quotations shade firmer than yesterday. Cash
offerings are not very liberal, but receipts are
large Futures show some cautious buyers, but
there is not much interest in forward deliveries
We quote:
No. 9 Mediterranean, O. t--......-....... 95la
No. Mediterranean, O. t..--....-....--...-. "a
No. red, o. t. "a
No. red o. ACKNOWLEDGEMENTS 9O12
July, ct. NEUTRALITY-SUSPICIOUS.. 81
August, o. t"- "a
Corn-Under light receipts offerings are mea-
ger and general feeling firm, and all offerings
will readily bring full prices. Futures are dull
and not wanted. We quote:
No. white, O. OBSERVATION-DISCLOSURES. AZ
No. yellow, O. ACKNOWLEDGEMENTS. Al L.
No. mixed, o. t-...-.----..--.---..--- AS
Sound ear. o. IT, 40
Oats dull and lower. The new crop is arrv-
ing freely. We quote:
No. 2 white, o. 70
Light mixed, o. t 20
Rejected, o. - q
August, o. ACKNOWLEDGEMENTS. "a
Rye-No. 2. nominal; 53c bid
Bran dull; $l2 {. o. b. bid, without sellers.
Hay-Quiet; No l Timothy, $l05 bid; No 2
SO bid.
July 80, 1885.