The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-01-12

9sc; No; 3 spring wheat, s5a9sc; No. red,
97+a9sc; No. corn, 33i2c; No. 2 oats, "a Ssc;
No. 2 rye, 4sc; No. 2 barley, Tic (: 0. b.; No: l
mess pork, per brl, S13.3O613.35; lard, 1850
737i2c; short-rib sides Qoosel. 6.95c; dry-salted
shoulders boxed. 6;37iaa6 $500; short;elea ear
sides t6oxedl, 7.2567.37 l2c; whisky, distillers
finished goods, per gallon. $l.03.
On the Produce Exchange, to-day, the butter
market was dull and unchanged. Eggs steady
Receipts-Flour, 5000 brls; wheat, 1900
bu; corn, 100000 bu; oats, $4,000 blu; rye,
5000 6Ts eAr %Sea sosI S bun cern, 5000
1000 Blu.
The Alleged ''Tip- That Influenced Wheat.
CHICAGO, Jan. 11.-Speculation in wheat was
influenced to-day largely by conflicting reports
relative to final government crop estimates, now
overdue. The receipts of private tips" that the
Agricultural Bureaus estimate of the crop would
be 42o,OOO,0OO bushels was what inspired the
raid and break late yesterday. This report was
denied later in the afternoon, but 1T
was revived this morning in several
forms. Nearly everybody had it before
IL o'clock that Professor Dodge had confided
to friend that the crop would be about 400
100000, and that this confidential friend had
told another confidential friend, who had leaked
the information where IL would do the most
good. This confidence proceeding was magni-
fled into a thousand statements that the govern
the trading session no official estimate had been
received, however, and there was no way of
knowing whether the Tip was straight
or not The crowd seemed TO think
official confirmation of the gossip to begin sell
ing. New York parties were especially emphatic
in the assertion that the unofficial forecast came
straight" and various circumstances pointed to
a secret tunnel into the Agricultural Bureau.
Wheat opened ragged, with sales for May rang
ing at $1.o3SLQ3is. A good deal Of
t Wheat nrc was wanted at the g stars and
then dropped back to $1.O3ss, rallied to 81 O37s,
broke to 81. 03ls, assembled the scale to 81 .03l2,
and on the 100000, 0O0-bushel Tip" sold OFF
sharply to 81 .0214. A rally carried the price
back TO 81 .03, and the market displayed some
steadiness above 81 OBS The price for an hour
or more hung around $1.O25sd1.O2Ts. The tone
was that of heaviness, however, and the market
did not show snap or spirit on the rallies. The
"bulls" were nervous and timorOus. They were
IN state OF expectancy as 1t were expecting to
ment report. This was what made them weak
and the clears" strong.
The firmness which has tbeen distinguishing
characteristic Of the foreign markets of late was
lacking to-day, according to private adviceS, and
New York was weak on the selling out of one lot
or 100000 bushels of "long" wheat. In spite of
an apparent dizziness in the cash trade every
where, 1t Is noticed that for several days exports
OF wheat and flour from the Atlantic ports have
about equalled receipts at primary points.
ST. Louis reports a moderate milling demand for
good wheat. Indications pOinttO another decrease
in the visible supply, the amount depending mp
on whether Minneapolis millers have been draw
ing upon private or public stores. Local senti-
ment Is unquestionably decidedly bearish, and
popular speculative sentiment is generally the
same way. There was a good deal of empty talk
about cunning for Fairbanks wheat, but this
sort OF vociferatiOn is common on breaks. Up to
the present writing the gunners do not seem to
have bagged their game. The market hardened
somewhat toward the last, and the price once
touched $1O3ls, closing at $1.O3, loss Of l4c on