The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-08-14
REACTION In ALL THE PITS
Upturn in Prices Due Solely Almost to
the Character OF Late Reports.
The leading Cereal Closed Firm at 7Sc for
September and Corn at Even 53c, with
RumorSCf Better Prices Coming Soon.
TRADING AT CHICAGO.
Provisions Were Active and Strong at q
Advance.

Provisions Were Active and Strong at
Advance.
CHICAGO, Aug. 13.-The weakness W hich
has been the conspicuous feature of the
markets had disappeared at the opening
to-day, and as the result of the days trad
ing everything dealt in on the Board of
Trade IS higher than at the close yesterday.
This fact is due in part to natural reac
ton from the recent declines and in part 70
the news of the day. The trading. how
ever. was generally light. Wheat exhibit
ed conspicuous undertone of strength,
considering the volume of trading. which
was small. This undertone was supported
by the Improvement manifested in the
cables liberal exports from both coasts. the
bullish purpo,t of Beerbohm's estimate
of the worlds wheat crop, the receipts
here being. under the estimates
and reported heavy cold rains
in certain sections of the Northwest. The
opening sales exhibited an improvement of
hc over yesterdays closing prices and the
fluctuations during the hole of the session
were confined to half-cent range, the
market closing with gain OF 1ec. There
were some sales at top hgnres. at Ts4c for
September, but at the same time there were
buyers at 7Sc and good deal changed
hands at the latter and very little at the
former price at the time referred to. The
price held for a matter OF half an hOur at
7Sc, or better and then took dip TO 7734c.
after which it renamed for long time at
717sc with very little offered for sale and
just as little wanted; closing firm at ESQ.
The corn market was very firm, Septem-
Der touching $50 III the first rush to fill the
early orders. There were some sales at the
Same time at 52a4c. but 527sc and SOC were
more generally current at the opening.
The latter price W as also the closing quota
ton. but IL was being offered at that. There
was an interval of considerable weakness
developed about half an hour from the
start. during which there was a drop to
$3.50. The recovery was due to some I'M
easiness regarding the approach of colder
and perhaps frostink weather In some OF the
most northern counties, where corn is
growing. and the good demand which was
reported from the cash crowd. The latter.
more than frost IN the corn country In Au-
Rnst, was probably the explanation of the
change in sentiment, which caused the
market to wind mp at about its highest
point. The stock of corn in Chicago IS said
to be chiefly owned by j. Bryant, and ne is
no hear on the article. He looks for Csc
for the couple of million bushels or so of
September corn which he 10 said to have
laid by.
Oats iuctuated within narrow limits and
closed with o gain OF &c.
Provisions opened active and stron q. with
an advance of DC I'D pork, .O312 IA. l212c In
lard, and .050 10c in ribs Armours brokers
were taking every thing that was offered at
the improved prices, and caused acOmplete
change in the feeling of the crowd, which,
until the support given by Armour, w as
inclined To be somewhat panicky. The
small receipts of hogs, as reported from the
yards-s,0Oo head-was a contrIbutory cir
cumstance in tOning up the trade at the
start. An estimate of 10000 hogs for all of
next week also had it's influence In restor-
ing confidence. There was some realizing
at the advance. which brought reaction
from the extremes reached on the first
bulge. but in the end prices remained hlg h-
er than at the corresponding time yester-
day by 12h0l5c in pork. .050.s0c in lard.
and .07lac in ribs.
Estimated receipts for Monday are:
Wheat. go cars; corn, 400 cars; oats, 500 cars;
hogs $4,000. The leading futures ranged as
follows: