The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-08-24
GRAIN AND PORK ADVANCED
The LOng-Waited-For Reaction Set in
and the Bears Took to the Timber.
From Temporary Weakness ct the Opening
Cereals Started Up, Followed by Pork. aud
Everything Closed at Higher Prices.
TRADING AT CHICAGO.

Good Day for Those Who Bought Pork
Early and Held On to It.
CHICAGO. Aug. 23.-Wbile nearly every
thing opened lower on the Board of Trade
to-day, there was much that was bullish in
the way of news The feeling soon turned
strong, and there was general advance
along the whole market. In wheat nearly
every thing in the way of news favored
dull; the receipts were unexpectedly
large. not only here, but elsewhere. The
statistical information was anything but
buiiish. Amount on ocean passage in
creased $4,000 bushels, the English visible
increased, 100000 bushels, and the stock
of wheat and -four in the United kingdom
was reported at $685. GOO bushels
against 81 ,24S,000 bushels year ago.
The aggregate receipts at Chicago,
ST Louis and Toledo were LAC. 900 bushels,
against 1900 bushels for the same day
last year. and all information tended to
confirm previous reports of heavy winter
wheat crop. These bear factors did start
the market trifle lower, but there was
very little for sale. and Logan and Clifford
proved good buyers. and the scalping ele-
menI did not seem disposed to sell much.
Even the uncertainty In the railroad situa-
ton at Buffalo did not deter buyers, and
heavy purchasing oders were received from
New York and ST. Louis. Then came re-
ports of damage to the crop in the North
west. and corn and oats made good adj
vance. wheat quickly sympathized. and
there WAS q steady advancement of +c
but IL was not all neld. as the advance
cauaed free selling. and the markets could
not take the offerings without showing
some decline. The general summing M
was that wheat was strong. chiefly because
OF the strength In corn and oats. Septem.
Der opened $50 lower. at 1850, and declined
to 159sc In q very short time. Then it grew
strong, and with comparatively insignia
cant reactions advanced to s6Ac. Real
izing on the advance nearly cansed reac-
ton, and the market closed at 76c.
Corn opened at some decline from yester-
day, but soon began to display much
strength and gradually advanced nearly
lie, though all the gain was not held. News
some dispatches reporting generous rains
In the corn belt, but others said the rains
had been local and not suff cient to do niue b
good. Then somebody discovered on in
clpient cold wave away up in the Canadian
conjured up. Schwartz-Dupee had tele-
gram from Springfield. H.. saying that
the best fields around there would not pro-
duce GO per cent. of last year. and there
were few encouraging advices from any
than last night. There was yood buying
on all the weak spots and not much being
offered, the market soon began to show
much strength and shorts covered freely,
causing o considerable advance, but part
of il as lost tow ards the close. September
opened u @ lower at F52Ac, but advanced
steadily TO $50. then reacted to 52lsc and
closed at 52kc.
Oats opened Ac lower, advanced $40, re-
acted Ac and closed without change COM
pared with yesterdays last figures
Hog products were all more active and
higher. The liquidation which was the
feature yesterday seemed to be over. and
Armour and Cudahy were active buyers,
ana strength was the rule after the
first few minutes at the opening. The
easier feeling in hogs and the early weak
ness IN grain caused September pork to
open 30 lower. at S1O.95. but theresft&r the
market market advanced with minor reac-
tons to 81. 40, and the close was steady at
S1E30. an advance for the day of SOC. Lard
is .17l2c MP, and ribs .27l2o.
Estimated receipts for tomorrow are:
Wheat. $50 cars; corn, $40 cars; oats, 800
cars; hogs 10000 Lake freights were
steady on the basis of 20 for corn to Buff
falo The leading futures ranged as fol-
lows: