The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-09-05
NO BOTTOM To THE PRICES
September Wheat Slumps OF to " Csc,
the Lowest Quotation in Years.
Heavy Receipts and a Big Increase in the VS.
ible Expected for Tuesday, Until Which Time
Is q Vacation, Owing to Labor Day.
Corn Had Few Friends. and Pork Was
Beaten on 3 Cents.

Corn Had Few Friends. and Pork Was
Beaten on 8 Gents.
CHICAGO. Sept. 3.--The news of the
arrival of another cholera ship at New
York had been received before business
opened on the Board of Trade this morn
ing, and this. together with weaker cables,
reported fine weather. anticipated increase
of 3, $50. 600 bushels in the visible supply on
Monday, the extreme weakness in corn and
the falling off of 1900. 600 bushels in
exports for the week compared with
last week, caused q lower opening in
wheat. At the outset the market was
inclined to be panicky. but the fact
that wheat was already very low, and all
adverse conditions had already been pretty
thoroughly discounted. led to free buying
by the cooler headed traders. This not OIL
iy prevented any further decline, but
caused q steady appreciation in values un-
til the loss at the opening was about recov-
cred. Shorts, too, took advantage of the
opening break to cover their contracts and
make sure of profits. which some uDfore,
seen development in the cholera sltuation
might deprive them of before the next SEES
sion of the board of Tuesday morning
Monday being Labor day. q legal holiday
with no session of the board. The trading
In all of the pits was light and was la rgely
confined to evening up deals against holl-
day contingencies. The appreciation III
the early trading In wheat wac assisted by
kilograms reporting the cholera outbreak
on tn esteamer Rugia less seriors in it's ia
talIties than at first related, anu by reports
of heavy and damaging rains In the North
west. The market then became hesitating
and nervous, fiuctuatIng frequently with
In a comparatively narrow range. until
near the end of the session. when a report
was received that two cases of cholera had
appeared in Baltimore. This caused a
stampede to sell, and the market broke
quickly nearly q cent, closing weak and
practically at inside figures December
opened 1ec lower, at 76ssc, advanced to
76s4c, held steady for q time. slunped to
751sc, n closed at TIC. September touched
72ssc, the lowest figure reached in several
years.
Corn opened very weak on the cholera
scare. q reduction of l penny In prices ut
Liverpool, the heavy receipts to-day and
expected large arrivals on Tuesday,. For n
time this cereal seemed without friends,
and there was q heavy selling pressure.
Opening sales were at u decline of l2c com
pared with yesterdays last sales, and a
further decline of Ac was at once made.
Then. in sympathy with the advance IN
wheat and on reports of colder weather
with probable frosts in the corn belt. a
gradual appreciation set III, which, with
~ otA ~ W
a point which covered the loss
from yesterdays close. with something
to spare. But the advance did not hold.
Longs were free sellers and shorts were
putting out new lines. The result was
slumpIness. and finally q sharp decline,
when wheat went OFT OH the Baltimore
cholera scare. There was some recovery at
the last on covering by shorts. Around the
opening October sold ct 41c and 1880 ad-
vanced to 47s4c broke to 45Ac, and closed
at 47Ac
Oats were rather quiet and weak in SYM
pathy with the lower prices for wheat and
corn, and closed with a loss of q ale.
Traders in the provision pit at the OPEN
ing seemed to feel that the cholera scare had
been fully discounted by the recent heavy
decline in hog products. In addition to
this. the receipts of hogs were very light
and prices were again higher. Pork opened
unchanged at So 10 for October; advanced
to SlO.47lk. sold Oft with grains to 3d. 5 and
closed at $40. 80. q loss compared with yes
terday's last prices of &c. Lard is .0212c
lower, except January. which rs .O2t4c
higher. Ribs are .02l5<d. l0c higher.
Lake freights are'unchanged Estimated
receipts for Tuesday are: Wheat, $50 cars;
corn, $50 cars; oats. $40 cars;estimated hogs
for Monday, $4,000. The leading futures
ranged as follows: