The Indianapolis sentinel. [volume] (Indianapolis, Ind.) 1880-1904, 1885-05-25

Corn the Feature of the Weeks Dealings
a Material Gain Registered-wheat
Fluctuations Confined to
Narrow Limits.
Special 70 the Sentinel

Special 70 the Sentinel
CHICAGO, May % The excitement of the week
on 'Cnsnge has conferred in the corn pit This
cereal has kept steadily ON the up grade and regis
tered material gain. The philosophical baars
who sold corn and who had plenty OF arguments
to prove that Lester would never run corner still
have their arguments. but are getting decidedly
nervous and are by no means as certain OF their
position as they were ten days ago. Gossips
who pretend to know all about the inside
facts now claim that the deal Is fixed; that
worthington and Norton have taken care OF all
the cash grain as ii arrived. and that Lester and
Baxter have bought the options. The fact is,
however that If the alleged Clique have worked to
blind the boys, they have succeeded admiral by.
for IL is safe TO ssy that not even the brokers who
are in the pit every day have much OF an idea how
Lester & Co. really stand on the market. Lester
has bought heavily and so has Baxter, and then
AGAIN they have both appeared anxious sellers for
of July Stocks however, SO light thar If there
is any kind OF rshort" interest oft it would not
surprise many dealers to see the market cover
20 down. 'D Especially with wheat firm
A. the hs wSe PRICE soS Of RoM
ever, wants to sell much until they see the Car
lots increasing. There are variety OF opinions
Some think the last Drop was overestimated;
Others that it has been largely consumed during
s'stscks Of it, lying back in first hands which Will
come into market IS soon as planting is over
Time alone will decide.
In the wheat pit it has been week of stubborn
fighting by both bulls and bears, aud neither
party has gained any material advantage. Hold
ers appear rather discouraged, but aided oy some
outside support, raw, unreasonable weather. lower
consols, and a resurrection OF the 'war ghost"
they have succeeded in frightening shorts suf-
GENTLY to keep the msrket steady. Lack OF de-
mand and the prospect that the greater part OF the
heavy surplus now on hand will have to os carried
over into next season the weight that keeps val
ues down. Prices are about Oh level with those
ruling at this time last year. while the visible
ply is about 40 0O0 bushels. against To- COO
bushels on June l, 1884. and more than onethird
of all this is in Chicago The shortage in the win
ter wheat crop is estimated all the way from 100
0,0C0 bushels to 100000 COO but everybody con-
cedes full yield OF spring wheat Capitalists, in
surapce men and elevator men. to whom the large
amount of grain in store is bringing fo.-
are Of haps over but .ne tine present e Who
paying the piper are already squirming under the
burden and locking for wag out: Transports
ton companies see 10 prospect OF making any
thing of crop piled I'D here. and vessel men and
railroads are holding ut every inducement posi-
rates TO the seeboard and across the ocean and he
grain here can be laid down In England at rather
les than 81. but at present otuer countries are
glad 10 supply the deficiencies at the British Isles
st least five cents less.
''If pay higher prices for wheat in 1885 it viii
be among ourselves only, as Europe Will refuse 10
responG." said julius Bliss tonight.
The eeneral dizziness in business, too. is against
any advance in breadsluffs, and predictions are
already heard that the yield OF corn will be the
largcst ever known.
Neither packers nor spectators appear to take
the slightest interest in the provision pit. Prices
show scarcely any change for the week. AS far "a
appfa upon the surface the trade is in statu 10
nothing DONE Some dealers think the packers
will soon have to make effort to advance prices
in selfprote ction. Armour and his followers have
been short" but 1t Is thought they are slowly
evening up. Eleven dollars for pork seems to be
about the bottom, at least whenever tast figure is
touched the market appears TO strike something
herd and quickly bounds back.