The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-10-18
INDIANAPOLIS MARKETS.
Trade Still q Little OFF, but Improving Some
What--Collections Easy.

INDIANAPOLIS, Oct. 16.
The volume of trade in the week closing to-day was
something of an improvement over that of the pre-
ceding week. but fell short of expectations It is be-
heved that the cooler weather. however will give new
life to business. Summer heat is not just what is
needed to help fall trade and this the character
of the weather for fortnight past. There is one
good feature about the situation: prices on most sta
pie articles well maintained and rule unusually
steady especially is this true of dry goods, fancy
notions. hardware drugs and groceries The produce
markets are fairly active but with the exception of
eggs there is such supply that prices do not
rally, but range at the low figures of some weeks
past. The grain markets, however, are the most
tickle and disappointing Yet it fact that at lower
prices than last the wheat exports of the pres
emit year, to date, nearly nine million dollars
greater than for the period last year The price
of wheat at Chicago had fallen Monday to 693c
or within threeeghts of cent of the lowest point
reached in twenty four years The apparent cause of
this decline falling off in the export demand
which is however, regarded as temporary the for
financial paper says 1T is interesting to past
periods of low prices and their causes The lowest
point reached In the wheat trade in a quarter of
century was in 1861, when the bottom dropped out
of everything, owing to the war panic. Wheat sold
then for short time at SO cents. In January 1862
it sold at IS, and in May it had risen to Sc. 1t did
when the lowest point reached 693s or So lower
than the price on Monday During 1884 the price in
Chicago huctuated between % IS and 961S The fuc-
tuatons for 1885 ranged between 1878 and 81 o. In
1872 and 1877 prices ranged between 81 and 81 81.
As before stated. the low prices of quarter of a
century ago were due to the business prostration
consequent upon the early stages of the war; The
low prices in 1884 due to the harvesting Of the
greatest wheat crop grown in the United States
the aggregate reaching $4,000 600 bushels. AL
though the crop fell to 357 900. 600 bushels in 1885
a shrnkage of 155 600 900. the big surplus carried
over from 1884 together with the light foreign de-
mand served TO keep prices at avery moderate figure
The crop of the present year Is at least hundred
million bushels greater than last year being about
ASH 600 and although the foreign demand
has been fair, and will doubtless improve there is
wheat in sight than is likely to be required for
both home and foreign consumption"
At meeting of the open board at to-day the
following resolution was unanimously adopted:
Resolved. That until the first day of November.
1886 all trading in shall be on the basis
of rs pounds to the bushel
GRAIN.
The better tone to the local market, which has been
noticeable since Wednesday. continues and the mar
ket closed firm at the shade higher prices of to-day
Milling wheat il in good demand while off grades are
dull Corn is arriving freely. yet our quotauors