The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1891-11-28
NOVEMBER CORNER IN CORN
One that Was Comparatively Easy aud
Netting About 100000 in Profits.
Leading Bullish Features Strong in Wheat,
Which Closed ct a Fractional Advance De-
spite the Field-Lindley Failure.
TRADING AT CHICAGO.
Outside of a Few "Shorts" the Corn Corner
Il Nor Eaarod

Outside of a Few "shorts" the Corn Corner
Is Not Feared.
CHICAGO, Nov. H.-Wheat was Quiet
during most of the session to-day, closing
with 4 fractional advance over Wednes-
days last figures. The leading bullish
features were the stronger tone of the ca
the Northwest, which, it was thought.
would restrict farmer deliveries. The pur-
chascs of operators acting OIL this theory
put their price up during the first hour to
93c for December. against 92l2c at the close
on Wednesday. and to $3.50 for May,
against 99l3c. At these figures a
number of houses. including Logan, Ken
nett, Hopkins and Milnine-BOdman
turned sellers. probably on early Informa-
ton of the FIeld-Lindley failure, in New
York. Under this pressure December retired
to 92lsc The market held steady around
these figures for a time. but hardened again
during the last hour on n report that a
cold wave threatened damage to winter
wheat, December advancing 10 93c and
May to S1.OO2s. The market held steady
during the rest Of the session. and closed
at the top for December, but Sc lower for
May. The trading throughout the session
was very light.
Outside of November corn, which is evil
IDENTIFY on q manipulated basis, the market
for that cereal was strong during most of
the session. December opened at 47l2c. an
advance of lac. sold up to 4SAc. broke to
473sc on the announcement OF the Field
Lindley failure, but rallied later and closed
at 4734c, a gain of l2c.
While there are no apparent reasons why
the November deals had to be abandoned.
and no evidence. in fact, that they have
been. the price of that month. which started
with q bulge of &C, was allowed to lose the
Appreciation. The September corner of s.
V. White, which raine the country of the
reserves, and the fact that there is little of
the contract grade as vet in the new crop,
have made the running of this corner COM
paratlvely easy. The clique which is run
ming the deal IS not definitely known. hut
Ames of Patten Bros. Bartlett q Frazer,
Andrews. Charles Armstrong n Arthur
Orr are connected by the trade. The deal
has been very smoothly and quietly
worked. and the profits to the clique are
estimated in some quarters as high as
$500, COO. This, however. is n mere c%onJect-
ure. as the shorts" and the amounts they
need to square their deals are unknown.
The known fact is that November corn.
which sold u week ago ct SIC. opened this
morning at soc, a figure at which one lot
changed hands. Then the price broke
steadily, with very few transactions to
13c, but closed at FAC, against 75c at the
close ON Wednesday. Aside from a few
shorts" and the members OF the clique.
nobody paid any attention to it.
Oats were steady, and show little change
from Wednesdays figures.
The fluctuations 10 hog products were
narrow, and the close showed some moder-
ate advances for most of the articles dealt
in. The leading futures ranged as follows: