The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1891-09-05
TRADING AT CHICAGO.
Provisions and Rye Bounding Upward
Other Articles Little Changed.

Provisions and Rye Bounding Upward
Other Articles Little Changed.
CHICAGO. Sept. 4.-Only O moderate
business was transacted in wheat and
while prices were the object of numerous
fluctuations. the changes were within small
or range than usual The market was more
or less governed by speculative operations.
according to which way the majority of
orders happened TO be. whether on the buy-
ing or selling side. Wheat showed a little
strength around the opening. influenced
chiefly by the fact that cables quoted Liver
pool 24d higher on futures. There was some
good buying At the start. partly by the
local professionals and partly on outside
account. New York had some buying or
ders at the opening, and there seemed to be
but little for sale. The first trading in
December was around S1.01 and 1,Oll4 the
market getting little strength from the
excitement which ruled In the provision
pit But the demand soon slackened and
New York, turning sharply to the selling
side. that market and the Northwest being
weak. tbere was an Irregular decline to
Sl.0lls. But the decline reached O good
many buying orders, and. rumor gaming
currency that Germany was TO remove a
part of tho duties on American gram, there
was something of q rally. December react
ing 10 Sl.0,. y New York telegram said the
reduction In the German duty on wheat
was only 10 per cent. or equal to abOut 2l5c
per bushel. instead of Zoe per bushel. But
the reports were discredited and soon
ceased 10 have any influence. A cable TO
Norton WOrthington quoted downward
tendency in wheat, n decline in flour and
weather brilliant. Then Logan got a cable
reporting No. , red 2l9d lower in Liverpool
and London. also showing q decline. with
the excitement IN the provision pit subsid-
ing. There was decline to S1.Ool2 at
at noon. The market continued weak, de-
Ginning to Sl.C04, but rallied near the close
and closed at SI.Oi.
Corn was lower owing to the fact that
the anticipated frosts did not materlallZe.
There was light one at Des Moines. other
wise there was no appearance of one In the
corn belt As the market was bulled yes
terday on the danger of frosts. the failure
OF the production knocked out the prop and
decline Followed. October opened at 590
59isc, but broke TO 5Si2c. Then there was
gradual hardening owing To the strength
IN provisions and the large demands from
shorts. with a reaction to 59l2c, eased off.
stood Tor time around 59i4c. and then
sold up sharply 10 G0i2c. The CLIQUE was
said 20 have sold freely on the advance.
After noon there was n break to 59Ssc. q
reaction 10 6Ulsc. Then the market held
ened and closed at 59a4c. The
advance 10 G0l2c was on n
scare ofmanipulation and indefinite rumors
of frost. Owing TO the-fears of manipula-
ton In September and October, trade is
rapidly drifting into the year and May
deliveries.
Oats were comparatively steady, with
the fluctuations in October confined To a
range of Sc. closing with sc advance
The reported reduction in the duty on
grain caused a furry in rye. and especially
as there were foreign buying orders on tho
market. and that cereal scored an advance
of 3iec.
Provisions were excited by the announce
ment that Germany had removed the en-
barge on American hog products. The
crowd was caught short. and made haste TO
cover. October pork sold from Sl0.72l9 TO
5000: broke to 5000. reacted sharply. and
closed at $1,000. against $1,000 at the close
yesterday. Lard gained .l5d zoe. aud ribs