The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1891-07-09
TRADING AT CHICAGO.
Market Affected by . Wild Report that the
Farmers VIII Strike.

Market Affected by . Wild Report that the
Farmers VIII Strike.
CHICAGO, July s.-There was q bullish
feeling in the wheat pit at the opening this
morning. Liverpool cables reported prices
firm and lad higher. The weather map
showed rains in q considerable portion of
the wheat belt where the harvest Is In
progress. and q statement was published to
the effect that q concerted movement was
on foot. having as its object the holding of
the present crop of wheat in the farmers
hands until the prices should advance to
s1.S5 per bushel at New York. All this had
. tendency TO stimulate buying and to
max sellers cautious. The story of the
alleged combination was pretty widely tele-
graphed To other cities last night, and it
here to-day. Later, when this news had be-
gun 70 lose Its effect ana the bears" bad
started In to depress prices q new '.bulp
impetus Was given by Bradstreets report
ssS aseres sssf 1' fas Vif sSsssl. 'up epss
of the Rocky mountains during
the past week. But Logan deluged
the crowd with offerings OF wheat, which
soon punctured the boom. Then il was re-
ported that the alliance story was faxed
MP by a firm whose country clientage was
heavily loaded mp with high-priced wheat
and was q desperate effort to help them out,
and the feeling began TO grow weak. The
postings showed forty-fve cars of new
wheat in, with thirty of them going on
contract. Other markets failed to respond
to our strength and then came news of
clearing weather In the West. Partridge
also appeared as q seller on the advance
u though he did not show his usual ag-
Rressiveness. his attitude in connection
with other weakening factors finally re-
suited in a break of about 5sc from the
previous tor prices. but recovered some
later. December opened at S9l4c. advanced
to s9s4c, receded TO S9Ssc. advanced TO S95sc,
broke to s9lsc. advanced to s9l2c. sold off to
S94c, reacted TO S9osc on late cables which
were steadIer, and closed at S9l2c.
Corn was strong and higher during the
early part OF the session. influenced 10y the
continued cold weather and the fear of
more manipulation by the 'builr CLIQUE.
The interest centered in September. which
started at 534c. and finally sold up to $3.50.
For q time there was very little offered,
and shorts were uneasy. Later. howev-
CT. selling became free. hut, as the post
urgent buyers had got what they wanted.
the demand was slack and prices weakened.
The weakness IN wheat. the fact that the
inspection sho we'd about seventy-fye cars
more than expected, and the m tor
tomorrow being liberal. sent the market off
fisc from top prices. followed by q slight
recovery. but the close was at the bottom
figure.
Oats were unsettled for July. being
strong early in sympathy with corn, then
weak. The shortage for July seems To be
quite large. The days receipts were only
about half as large as they had been esti-
mated. which strengthened the market
during the last hour.
Provisions were dull and weak on largo
receipts of hogs and a decline of SC at the
stockyards. Trade was very SLOW. There
was . little show OF strengtE early IN SYM
patty with grains. but it quickly disap-
peared and . dull ana dragains market