The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-11-30
SHORTS GET A SQUEEZING
Brokers of Cudahy and Wright Cob
bled Upthe Pork and Prices Jumped.
Prices Being at Bottom Figures and at o
Loss from Monday in Wheat and Corn.


"
High Prices I'm Provisions Held Up Grain
for n Time Yesterday.
CHICAGO. Nov. ga meteoric display
Of high prices in the provision pit fssci-
nsted the bears into temporary stupor for a
time to-day. Tonight, however. compared
with last night, quotations for grain and
nearly every thing else show a loss. Wheat
is down about Sc and corn l5c. There was
not much activity in wheat. Cables were
dull and easy; even the English market
was represented as in q serIousiy-demoral-
lied condition, with prices so low that
farmers were inclined to feed their
wheat to stock rather than market
it at the low prices, which are
equal to 64o for the average of
farmers product. Minnesota patent -four
was said to be selling in the interior towns
Of England for S. per barrel. The amount
of wheat and -four on passage increased
1,6S0,000 bushels during the last week, an d
the receipts in the Northwest were again
large-940 cars, against IT'S cars tor the same
week last year. The English visible sup
ply was also said to show an increase of
los. 600 bushels. The contract wheat in reg
aAoA OhASo6O ~ 70
more than q week ago. These conditions.
with good selling by Brosseau. Clifford and
their folio wing. and rumors that Cudahy
had sold heavily yesterday afternoon. made
u weak undertOne, bnt the excitement IN
the provision pit AND the sharp advances
scored there helped to hold wheat pretty
steady, even in the face of so much that
was bearish. Late cables reported q de-
cline OF I'D, and the heavy feeling locally
became more pronounced. last prices being
at the bottom for the day. The opening
was about Sc lower, advanced about lac,
held steady within established range, and
closed Sc lower than yesterday.
Corn was inclined to weakness. but on
the excited feeling in hog products devel.
oped temporarily. The chief bull item of
the day was the decrease of nearly 900.0 600
bushels of local stocks. The light out in
spection of 120, coo bushels and the increase
of about $4,000 bushels on ocean passage
was on the bear side. The close was flat,
at the bottom prices, as q result of the de-
preston in wheat Prices were confined to
rance of $@&c.
The oats trade. which was most active
around the high prices OF the day, was
largely of q scalpinQ nature. Councilman
d Day and Baldwin-Farnum were promi-
Dent buyers. A. l.. Mason led the selling
by putting out q line of fair size early.
There was some changing from December
to May. at 47sc to sc difference. The close
was at hc decline from last night.
The provision trade had a continuation
of the squeezing operations which have eo
frequently of late made the shorts misera-
BILE. Cudahy's and Wrights brokers sp-
peared to have Instructions to take every
thing in sight at>the opening. and prices
jumped sky ward. When the shorts had
taken their medicine. the price worked
back to where it had closed on the previous
evening, excepting lard, which retained
the greater part of the days gain to the
end. and left off at .22lac higher than it did
yesterday for January delivery. At the
top. pork was S71ac higher than last night;
lard. .32l2c, and ribs .17lac.
FreiRhts slow at 2leo for corn to Buffalo.
Estimated receipts for tomorrow are:
Wheat. 100 cars; corn. $50 cars: oats. 125
cars; hogs, "a. 00O head. The leading futures
ranged as follows: