The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-11-17
FIGHTING FOR HIS HOGSHIP
Chicago's Big Packers and the Clique
Arrayed Against Each Other.
Foreign Influences We're Practically Ignored
in the Grain Pits Yesterday snd All the
Markets Made Substantial Gains.
TRADING AT CHICAGO.
Interesting Fight Between the Armour and
dah


Interesting Fight Between the Armour and
Cudahy Factions.
CHICAGO. Nov. 16-A very pretty fight
Is apparently on in the provision market be-
tween the large packers of hog products
and the clique of spectators who ran the
October corner in ribs. The clique, in or
der to carry their deal through without o
break, was forced to take large quantities
of product during the closing days of the
deal from the packers. who loaded the
clique up at fancy prices with all the stuff
they could scrape together. The result was
large accumulation of old product in
the hands of the clique. Cudahy
and his associates have been per-
sistent bulls of late. apparently
for the purpose of strengthening prices so
IS to permit the unloading OF old product
while the big packers have been decidedly
0earish. Armour announces himself en-
phatically as bear. He says. Il would no
more touch this product at these prices
than l would q rattlesnake. We are kill
ing q good many hogs. All of them are
going into consumption as fresh meats, not
one of them Is being cured and put in the
cellar. There Is q general sentiment that
hog products at this range are not cafe.
And sentiment has wonderful lot to do
with deciding things. 1t certainly Is . fact
that consumers are eating up all the old
pork and the old meats at the low prices
rather than the new meats at the high
prices"
The high prices of provisions has appar-
emily bad Its effect on hog receipts. this
week, the receipts for the first half being
nearly double the number recorded last
week. the totals being %, S57 as against
51.067. The large receipts tend to strengthen
the position OF the packers. who are en-
deavoring TO weaken the hold of Cudahy
and his followers on the market.
Hog products yesterday were strong and
higher. The offerings were light and with
good demand prices were early advanced.
Among the prominent buyers were Aller-
ton, Norton w orthlDgton, Webb, Anglo
American and Orr. Prices closed near the
nights hgures show 17l3o advance for
pork. .12lsc for ibis and .1lac for lard.
Ignoring completely European in
fiuences all the markets to-day went
nights figures wheat this evening 10 SEQ
higher. corn 1c higher oats q up. with pro-
visions showing good advances Wheat re-
ceipts were smaller locally than expected by
eighty cars. and though cables were lad
lower, there was good buying by Champ
lin, Lester Mitchell and Logan at the
opening. Not much was for sale and shorts
seemed to consider IL prudent to cover.
On the firm spots Pardridge, Milmine-
Bodmsn and Schwsrtz-Dupee we're good
sellers. and the slight advance was held for
time with some difficulty. Outside bus
iness was light. The believers In higher
prices for wheat got q good deal of encour-
agement from the steady decrease in the in
terror deliveries as pretty sure indication
that the visible has aDOut reached the
turning point. However, Bradstreet's re-
ported an increase in the available supply
last week of 2.774. 900 bushels east of the
Rockies and S56, 0U0 increase on the Pacific
coast. q total increase of 3,6S0,000 bushels.
The market opened $50 up and closed
steady within lsc of the top for the day.
Corn was Influenced chiefly by the better
feeling In wheat and the liberal covering
by shorts. The receipts were about twen-
ty-five cars more than estimated. but had
little effect on values, a. tho buying was
good all through tho session. The market
changed some, ruled firm and closed with
7s011sc gain. The near deliveries wero
relatively easier than the rest of the list.
Oats were quiet but firm. Local receipts
were only 12S cars, and the market also felt
the effects of frmness in other pits. An at-
vance of IS "a "a W as recorded, and last sales
were at the outside figures.
Freights were slow. and rates renamed
steady at 23ao for wheat and 21sc for corn
to Buffalo. Estimated receipts for to-mor-
row are: Wheat. 10 cars: corn. 1872 cars;
oats 13S cars; hogs, 81 600 head. The lead
ing futures ranged as follows: