The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1891-04-23
TRADING AT CHICAGO.
"Bears" Make Another Onslaught on the
"E,uli" Forces and Raid Prices Down.

"bears" Make Another Onslaught on the
"Buli" Forces and Raid Prices Down.
CHICAGO. April 22.-The excitement
in the wheat pit on the Board of Trade was
continued to-day. As on yesterday the
bears" had the best of it and they i'm
proved their opportunities by forcing. a
further reduction in values. There were
occasional rallies but the general tendency
was downward and the net result of the
days trading was reduction of 2lsc in
values. The other articles dealt in SYM
pathized with the weakness in wheat and
show . material loss in prices. At the tap
of the opening boil the GEARS swarmed
into the wheat pls apparently resolved to
rscoup themselves for the losses which
they sustal ned during the recent advance.
They played bold game and their
onslaught was irresistible. The New York
contingent. which led the recent advance.
was selling out It's W heat and most of the
local "bulls' followed their lead. though
they were inclined to buy on the breaks by
which they were losers, but the breaks
came IN too rapid succession. The "bear"
cessfuily at all times. aud got the benefit of
all the action there was in il. They put
out their wheat on the hard spots, took 1t
back on the breaks and again flooded the
market when 1t rallied. Bulls who had
higher, were In this way drowned out sew
eral times. Schwartz. Bloom Linn and
several others of this class were working
successfully on the short side. They car
that the opening English cables were
steady and firm. and London quoted cargoes
higher. Later cables were all lower.
with Liverpool showing l2d decline. Lon
don was quoted easier. and Paris S0@9O
centImes lower for wheat for future
delivery, the latter equal to about
Alec DER bushel decline. Domestic news was
mostly bullish. Bradstreefs reported de-
crease for the week of / .325. 600 bushels in
available stocks of W heat east ofthe Rockies
ancHdecrease of 800, 900 bushels west. Pills
bury reported sales of 1900 sacks of Hour
10 London at tor prices. and Milwaukee
reported the sale of 5000 bushels for Inn
mediate shipment Co New York. On the
other hand. the weather wss reported as
more favorable in France for the growing
crops- The receipts In the Northwest were
somewhat larger. ynly wheat started at
Si-lOi2 and then broke TO Sl.Oo0s. After rail-
lying to sl.09l4. IL gain eased off TO s10s7s.
closing weak at ei.Oos, "a .0s7s May
opened 81 ell 0l.lsia. aud sold off to
So io wa. e, SsnR At Ss hishs sT
came from shippers and outside spectators
as well as the local -.bearsD The latter
covered some of their short sales on the
breaka July started at 663a 06714c, broke
TO 66ssc. rallied TO o7c. broke again go Coo.
and ranged around to 66l4 a66I2c thereafter.
TIE line weather greatly increased the
bearish sentiment Oats followed corn
closely. and was very dull throughout most
of the session. except for the weakness
which eliminated in break of 1Iac. Pro-
visions opened weak. in sympathy with
grains and because hogs were lower on ac-
count OF heavier receipts than were ex-
pected. There was slightly stronger feel