The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-09-16
GRAIN MARKETS DECLINED
Still the Panic That Was Expected by
Many Failed TO D~aterialize.
the Damage 10 Corn Tia Had Been Feared
and that Al ticie Fell OFF with Wheat
TRADING AT CHICAGO.
Weakness in the Cereals Helped PROVISION
Score n Decline.

Weakness in the Cereals Helped Provisions
Score n Decline.
CHICAGO. Sept. Elf any body was ex-
pecting a panic in the wheat market to-
day the expectation was vain. Neverthe-
less cholera clung to wheat as we'll as to
the other markets like a veritable Sinbad,
and tonight wheat. compared with yester-
days closing prices. is llsc lower. corn $50
lower, and oats about lac off. Provisions
are also lower by 17lsc on pork, .07l9c to 100
on lard, and from Csc TO .15c on ribs. The
depressed feeling which was carried over
from last night as the outgrowth of the
New York cholera scare, weakness in the
corn pit, the narrowness and dizziness of
trade. with the absence of any.
thing bullish in the way of news, made
wheat weak at the opening. But there
was no great slump. and the fact seemed to
be that the price was already so low hat
operators hesitated to sell it. however
bearish the situation may appear. and if
they did, were disposed to buy it back on
tho first appearance of strength. The
cholera scare wss undoubtedly O weaken
ing factor and caused q free liquidat ion of
wheat and there was more or less short
selling, still this was not a very pro-
nounced feature aud the weakness was due
more 10 the absence OF demand for such as
was offered rather than to Any great selling
rush. The French wheat crop was official
ly reported at go. 600, 600 bushels, or Is. O00.-
COO bushels more than heretofore estimated,
and corn was also weak and lower.
This led to free liquidation by
the longs and Q weak market.
and Baxter all sold freely. with the buy
ing mainly confined to shorts. Poole aud
Mitchell each bought a good line. Shortly
before the close of the session a dispatch
was received from New York that the Boz
hemia had arrived and reported ninety
seven deaths from cholera on board. This
was subsequently. denied, but it caused a
break of fully hc. The market opened lac
lower. declined $50. with the fluctuations
within q limited range, reacted slightly,
broke Sc, and closed at about the bottom
for the day.
Corn was only moderately active, the
trade being of much smaller volume than
usual of late. The frosts hat were ex-
pected and which il was believed would
greatly injure the crop. did not appear.
hence holders got discouraged and sold
ont. While there were some frosts In the
Northwest. it did not extend into the corn
belt and was not regarded as q damaging
factor. and long corn which has been held
in anticipation OF q scare was for sale and
IN large quantities. Some OF. the big bears
took advantage OF the situation to raid the
Market, CnAmpllu Delng suspicious OF tnlS.
Cholera talk was quite a factor. The Price
Currents report was looked upon as q lit
tie bullseh. but did not have the effect it
might hive had under different conditions.
The local crowd sold freely from the start,
initial trades being AOl2c under final tig-
ures Of yesterday, and soon sold OFT with
little reactions sd4c, rallied A@Sc on
covering by shorts. again ruled weaker.
selling OFF lac, advanced l4c, off l9c and
closed $50 from the bottom.
The trade IN oats was light, except that
it ruled weaker selling &c under October.
whereas 1t was only $50 under yesterday.
1t was thought hat Norton-W orthIngton
had sold some other line. but If such were
the case the quantity disposal of was
small. =
Provisions were tame. There was poor
support in all products except October ribs.
The pork market was raided early by Bald
win and others supposed to be- In the inter-
est of Armour Armour, Swift and Morris
brokers were called buyers of January
pork while selling October.
Estimated receipts for tomorrow are:
Wheat. 800 care; corn, 49,; oats, 1873 cars,
and Is, 900 hogs There was q fair call for
weasel room and rates held steady at 2lac
for wheat and GA for corn TO Buffalo. The
leading futures ranged as follows:
Options. IOp'ningl Highest. Lopest. Closing.