The Indianapolis sentinel. [volume] (Indianapolis, Ind.) 1880-1904, 1885-04-19
CHICAGO MARKETS FOR THE WEEK,
Spectators Go Wild European War
News and Run Prices SkJward, Only
to Fall to the Starting Point.

Special 10 the Sentinel.
CHICAGO, April IS. - The wheat market on
Change during the past week has been dupli
cate OF the two preceding ones. as far as excite
ment and irregularity are concerned. A bowling
mob has filed the pit each day and rushed prices
mp and down as outside news was OF a bullish or
bearish character A. the start indications were
thought 10 all point toward war, and every mem
Der OF the crowd at once developed a fullgrown
pair OF horns. Then. altogether, they tossed the
market skywsrd and quotations scared way up. as
It seemed impossible to satisfy the wants OF local
SPECTATORS, let alone fill the demand o, outsiders.
The visible supply was about $50 900 bushel less
than at the time OF the last statement, but very
few traders stopped TO even glance at the figures,
or, If they did. they forgot them instantly and
Struggled back into the pit to buy on
war news. The bulls enthusiastically
some even mentioned SIPS. Suddenly, however,
English consols became stronger and cables less
ssnguinary in tone. Crop reports were unfavor-
warmer, aud kilograms reported rains on the Pa
cifc slope as well as in the West and Southwest.
plete change. Buyers called halt and quickly
commenced realizing, while sellers came to the
front with rush. Every body sold, aud everybody
sold so pertistenty and heavily that Il was impos
sible TO name the leaders though Norm Ream
WIS particularly noticed as dumping long grain
in huge blocks, while Bod man went short. Away
went values on the down grade apparently find
Ing the road much easier to travel for having been
gone over so recently. There was drop, as II the
market was going sll to pieces. when Il was sud
denly brought I'D with sharp turn by the rumor
that Russia was negotiating war loan This story
was OF course without foundation, but Ii served 10
bulge the market Just the came.
Perhaps the most noticeable feature OF the mar
ket this week has been the uniformity with which
the lighter class OF spectators have succeeded in
getting IN on the winning side Losses have large
ly fallen on the professional dealers. These now
are generally bearlSh and seem determined 10
shake out counlrymen who are inclined to take
hold on this depression. without war drums
they may be able 10 do it, but conservative men
believe the grain IS resting very nearly on its mer
It's, especially as the market is believed 10 be heav
lily oversold.
Its splendid time for the agile scalper to get
rich, but this churning up and down on false re-
rorts and vague IumoTs Is killing healthy trade -
remarked J. w. Bliss.
Corn has developed no new features. Heavy
shipments aid small receipts are the order OF the
day. Lester is buying heavily and so is Reau, and
the talk OF squeeze. which at first was regarded
as sensational is gaining believers. Prices follow
those OF wheat, but react much quicker after a
down turn.
Provisions have ruled slumpy. Receipts OF hogs
are too large to make product an attractive deal
for the boys. aud trade Is small. Holders are the
chief sellers.