The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-11-20
RAPID BULGES AND SLUMPS
Tells the Story of the Provision Market
in lis Fluctuations Yesterday.
Many Of the Chicago Scalpers Forsaks the
Grain Pits for the Time Being to Fish
for Profits in Unsettled Pork.
TRADING AT CHICAGO.

Grains Were Weak and Closed at Near Bot
tom Prices for the Day.
CHICAGO. Nov. 49, - Kaleid escopic
changes and general excitement marked
the trading to-day in provisions. Rapid
bulges and slumps succeeded each other.
causing general impression that the bull
clique was working ND sentiment to slide
out of its holdings on. Very little change
from yesterdays closing prices resulted in
the end. Wheat and corn markets were
easier on heavy receipts in the Northwes
and selling from there. December wheat
is OFF &c and May Sc since yesterday.
Corn is unchanged for November and De-
cemher, but about ~ low er for May.
The provision market was the FOCUS for
many of the scalping crowd from the grain
pits. who found that hog products afforded
better opportunities than their usual spe-
cialties. The market opened easier under
the influence of rather heavier hog receipts
than bad been looked for. but on John
Cudahy appearing as ready buyer of JAN
uary pork and lard there was q sudden
change. and prices began to work upward
rapidly. In the call the feature was the
free selling of January lard by Cudahy.
who disposed Of about four thousand tierceS
u
selman and Day were good sellers of Janu-
airy II bs early in the session. The operations
of the bull clique were confusing
to other operators. Cudahy WAS
at one time buyer aud at another time q
seller, while Wright was dropping chunks
of product on the market every time 1t be-
came radically buIIish. Fluctuations were
very frequent and over wide range, both
in pork and lard. Pork advanced zoe over
the opening price for January. and dropped
Ne frOV ha HI hest int mi Dry N n
sellers a chance TO dispose of much on the
decline. IL very easily again recovered
Soc of the last-named break without the
buying OF any great quantity. January
lard vas equally erratlc, opening Oft .01 12c,
then advancing .25c, declining zoe ana
Jumping .2Oc again from the low point.
Ribs were nervous also, but fiuctuated over
anarrOw range.
While the first sales of wheat were at
about the closing figures of last night, the
market at once turned weak and continued
so, closing at about the bottom for the day.
The arrivals in the Northwest were heavy.
having been nearly two thousand cars for
TWO days. The exports for the week, as
reported by Bradstreet's. would have been
more encouraging perhaps had not the
same authority estimated the available
supply at so, S31. 600 bushels. Leopold Bloom
is said TO have dumped his holdings as soon
as the market opened.
The feature of the corn market was q
demand for December corn, which infused
more spirit into the trades. w. Z. Harvey,
It was understood. had arranged with the
elevator companies to carry corn from De-
cember to May for less than the prevailing
spread between those months. and lmme-
diately began buying the December and
selling the May to avail himself of the
sured profit. His action reduced the spread
somewhat
There was hardly anything doing In oats
barely enough TO cause a range of lac in
the price of the active futures.
Freights were steady, with fair demand
for vessel room al 2l2c for wheat and pa
for corn To Buffalo.
Estimated receipts for Monday are:
Wheat. l25 cars: corn, 210 cars: oats. 167
cars; hogs, $1,000 The leading futures
ranged as follows: