The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1891-10-20
TRADING AT CHICAGO.
Sellers Were Rabid and Successfully Raided
the Grain Pits.


CHICAGO. Oct. 49, - The bears" in
wheat had the best of the situation to-day.
and they improved their opportunities to
further depress prices In this they were
assisted by tired longs" who were strong
Is inclined to throw over their holdings for
fear of further loss. Cables quoted the
English market lower. New York showed
sharp decline. and Minneapolis and Du-
luth were both lower and weak, with other
domestic markets on the down grade. Lo-
cal receipts were about one hundred cars
above the estimate. and the arrivals in the
Northwest were reported at 2.lSO cars-the
heaviest so far this season-and the wealth
er throughout the Dakotas all that could
be desired. There was talk of dry weather
IN some parts of the winter wheat belt still
retarding the seeding, but 1t was over
looked in the general bearishness of the
situation. General Manager Mailer, of the
Great Northern railroad. was on the board
tins morning. He said that the reports of
wheat damage in the Northwest from
rain were grossly exaggerated and that the
loss would not amount to more than per
cent The selling pressure started with
the tap of the bell and con tinued through
out most of the session. The market was
weakened at the start by the pressure of
the wheat PUT during the last two days,
and the sales to-day. against Saturdays
puts" as soon as il became probable that
the market would break through the PUT
price. Kenneth. Hopkins. Schwartz. Du-
pee. Mllmine. Bodman. Mitchell and Pard-
ridge were all liberal sellers at the start.
anu followed the market down to near the
bottom, then there was some covering,
which caused q slight rally. but the mar
ket again eased on and held tolerably
steady. The bulk of the business was
during the first hour trade aiterward be-
coming very dull. and continued so moet of
the remainder OF the session. During the
last hour there was some recovery on bet
ter cables and reports of their takings at
the sea-boafd for export. which induced
further short covering. December, which
closed on Saturday at 97l4c. opened at 81 sc,
touched 0l4c. then sold OF TO e6i2c rallied
TO 963sc, broke TO 96c, reacted to 96asc. went
of TO 96isc. advanced TO e6asc. but broke
quickly TO 96isc on the increase in the WISH
BILE supply, rallied and closed steady at
96sc.
Corn was quiet. but generally weak.
The receipts were fifty cars In excess of
estimates. while the weakness IN wheat
was also q bcarish factor. Offerings we're
liberal with very little demand. and trade
was slow, with weakness the rule. Long
corn came out freely. and short" selling
was free. November opened at 4alse. sold
TO 47asc, declined TO 47asc. advanced to
sac. and sagged off to 47ssc. but during
the last hour sold up sharply on the heavy
decrease in visible supply. going To 4Slsc,
weakened to sc. bnt strengthened again,
and closed steady at 4oAsc.
Oats were dull aud steady within q mar
row range.
Hog products were weak. partly In sym
patty with the weakness In the wheat pit
and partly from the pressure to liquidate
long stuff. Nearly everybody seemed 10
have some for sale. with very little do
mand- During. the last hour the marke {
strengthened some in sympathy with corn
and on the report that the Italian govern
ment had decided TO remove the restric-
tiens on American pork. The changes at