The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-09-15
FROST RULED THE MARKET
Accordingly Trading in the Corn Pit
Attracted Most of the .~ttentiOn.
Cholera News from New York Did Not Reach
Chicago Until After the Board Had Closed,
aud Hence Had No Effect on Business.
TRADING AT CHICAGO.

Corn, Oats and Provisions All Scored Loss
es-Wheat Rose Lee.
CHICAGO. Sept. 1i.-For fickleness and
excitement the corn pit to-day excelled.
Instead of q big advance the cereal. COM
of Sc. Wheat is from $50 TO l9c higher.
Oats are OFF from 1sc to lac. Provisions
closed at declines of about 5015c. The
news of the cholera in New York city
came after Exchange hours. and must be
reckoned with tomorrow. 1t was first of
ali to-day a question OF frost or no frost.
Then IL was q question OF damage
or no damage to the crop. The
trade expected damaging frosts from many
sections of the corn belt. All bought corn
heavily on the predictions yesterday. The
weather map this morning did not show
extremely low temperatures, and a few
private dispatches made light of the frost
scare and predicted no damage. On this
the market started with q tumble of hc TO
&c. After q great lot of corn was dumped
the outside buying began and later dis
patches indicated serious damage from the
freeze. The market made q rebound of a
full cent on this news. 1t was no sooner
up thar it sold of again TO &c better han
the low point early. There was a second
rally before midday on q second loading
ND for a possible frost tonight. This was
followed by a third weak spell before l
o'clock, when prices dropped as low as at
the opening. The close was 1sc from bot
tom prices for the day. The trading was
very heavy, considerable being from the
outside.
The operators locked away from the
VA haQf.nIf IN fako q tiuar in nnrn Iha Vnl-
ume OF business became NO large that indi-
vidual dealings were lost to sight. Wheat
was exceedingly slow and generally weak.
There was an unusual 0earth OF news at
fecting the market. and the slight changes
which TODD place seemed to be due almost
entirely to the fluctuations in corn. Part
ridge was said to be a good buyer on all
the breaks, and Mitchell also bought free
ly, but Logan and several other prominent
operators sold on all the strong spots. A
depressing influence was Bradstreets re-
ported increase OF 1900. 900 bushels in the
available stocks on both coasts.
In oats there were numerous periods of
strength, but they were taken advantage
of by the longs to sell. and the increased
offerings finally created weakness, and
prices Tor September, which was sold by
receivers. declined sc and sold $50 under
October. The other futures sym pathized
with the weakness in the present month
and prices declined 2sc, and the market
closed easy at about inside prices. A good
part OF ~theebuslness as changing Septem-
Der to the deferred deliveries at A@kc to
November, at lec to December at 3s "a 3l3c
TO May.
There was q light trade in provisions and
prices, after n fair action early kept in
very narrow limits. The feature of the
early market was weakness caused by the
very heavy hog movement. From this
there was a very good recovery, entirely
in sy mpathy with the excited and higher
corn market on frost predictions. When
corn weakened late in the day products
weakened again.
Freights were steady with O fair demand
for vessels at 2l2c for wheat, and 2$ C for
corn to. Buffalo. Estimated receipts for to-
morrow are: Wheat, 425 cars; corn. $50
cars; oats, $50 cars; hogs. q. 100. The lead
ing futures ranged as follows: