The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-11-29
PORK AT HlGH-WATER MARK
Topmost Price of the Year Reached at
Chicago, but 1t Was Not All Held.
Wheat Was Strong Almost from the Start,
Notwithstanding Heavy Local Receipts,
and Gained Nearly 1c OH the Day.


Operations Were Lively, Some Pork Men
Dealing I'm Cereals.
CHICAGO, Nov. 28.-Wheat advanced
nearly q cent to-day. The impress
sion seemed TO be that some prominent
traders in provisions had paid more atten-
tion 10 wheat OF late han hog products
and that there might be an effort to give
shorts a squeeze. Realizing sales reduced
the gain in prices to Sc at the close. Corn
closed 40sc higher h on Saturday.
Provisions were buoyant. Compared with
Saturday night, pork is up 400. lard .2oc,
and ribs .2Cc. Wheat was strong almost
from the start. Notwithstanding that re-
ceipts in the Northwest were heavy-1,799
cars, against 1.7S9 for the corresponding
day last year-and cables were easier.
Receipts at all primary points
were large. and though the IN
large as for some weeks past. it still
showed , gain of nearly q million and q
quarter bushels, bringing the stocks up to
II, 600, O00 bu-far in excess of anything ever
known before. In the face OF this the mar
ket sold steadily up. The firmness seemed
to be due to the sharp advance in the pro-
vision market and TO reports most indus
triously circulated that Cudahy. Wright
and other provision operators had turned
to the bullish side of wheat and were
heavy buyers. Mitchell. Severns and sew
eral large commission-houses also had gen.
erous buying orders. On nearly all the
hard spots Partridge sold o good deal. but
the market took il readily. Late In the
day Linn sent bullish news from southern
brought similar reports from Kan
sas. and Northwest dispatches re-
ported a sudden drop in receipts at coun-
try elevators, though other dispatches were
of q different tenor. Opening abOut the
eased of lac. ruled firm. aud the closing
was about Ac higher for December and $50
higher for May.
Corn was influenced by the strength in
wheat and provisions. There was not
much for sale, and as shorts were nervous
and disposed to cover sellers had the ad-
vantage.
Another strengthening factor was the
decrease In the visible supply and the
rains over the Southwest were expected TO
check the shipments of new corn. First
prices were unchanged from Saturday,
then the market advanced solo. reacted
slightly, changed some, ruled firm, and at
the close it gained As@So.
A fair business was conducted in oats,
The country bought pretty freely. The
heaviest local buying was done by Bald
win-Farnum and Schwartz-Dupee. There
was no important selling.
Provisions scored q good advance the
first hour, but 1t looked as if the upward
movement were only q temporary bulge.
Later the buying was renewed, and the
highest price of the year was reached on
pork, while ribs and lard were again put to
fancy figures. The advance was not the
result of news from the yards this time.
but was due to open buying on a large scale
by the Cudahy- Wright brokers. There was
o reaction of about zoe from the high
the top again.
Freights were slow: shippers bid 2tac for
corn to Buffalo and paid &c for corn to Og-
d~ensburg. Estimated receipts for to-mor-
morrow are: Wheat, 225 cars; corn, $50
cars; oats, 295 cars; hogs. GO, COO. The lead
ing futures ranged as follows: