The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-07-28
WEAKNESSIN ALL THE PITS
Better Weather Reports and a Quick
Slump in Corn Cause Decline.
and When Brokers Started in. the Market
Was Found 10 Have LII tie Bottom.
Hog Products Dali. with Losses In Pork,
Lard and Ribs.

Hog Products Dull. with Losses In Pork,
Lard and Ribs
CHICAGO, July 27.-Weakness ruled in
oil the pits on the Board of Trade to-day,
and every thing closed lower. This tone
was accompanied by light trading in every
thing except corn, which was quite active.
The weather was factor everywhere in
the provision crowd, as we'll as among the
dealers in cereals. The weakness was pro-
nounced and general during the last fifteen
minutes of the session. and everything
traded In closed at or near the lowest
prices of the day. Nearly all the news was
bearish and the combined result was q loss
of 70 01c in the value of wheat. Cables
were weak and generally lower,
with domestic markets also tending
downward. The very favorable crop
reports Published this morning, with the
news of cooler weather In the Northwest
and liberal rams in that quarter, also
helped to cause weakness. Another reason
for depression was found in the sharp
slump which took place in corn and which
extended to the other pits. The crowd ap-
peared to be generally long and the appear
ance of weakness started the selling and
Tie unlO8Q1nR WAS quite general. no Ouy-
ing was not sufficient to absorb the offer
ings readily, and weakness ruled. Brossea.
Logan. Dunn, Cudahy, Clifford and others
were generous sellers. New York, ST.
Louis and the Northwest had free selling
orders here. September opened 4c lower
at Use, tirmed up to 7S}sc on local buying,
then gradually sagged away to 77l5c. held
Tor some time around TIA 0779sc, touching
77@4c momentarily during the last hour.
then near the close weakened TO and closed
steady at 77ssc.
Corn was de cdedly weak and lower. land
1t did not take September long to sell sc Oft
from last nights close. The chief cause
was the reports in the morning papers de-
nving the crOp-damage reports which have
been so industriously circulated during the
last few days. There was some complaint
of dry weather, but some rain has already
fallen and more is predicted 10y Uncle Jerry
Rusk's Weather Bureau. All of this start
ed holders to selling at once. Logan.
COunselman u Day. Schwartz and Bald
win. who have been the bulls heretofore.
all had lots of corn for sale, and prices
started at once on the down grade and
showed little rallying power. September
broke steadily TO 494, rallied some during
the last hour and closed at 49l5c
Oats were weak, In sympathy with corn.
but did not slump SO decidedly. closing
with loss of only 3sc for September
Hog products were dull aud weak during
most of the session. On account of the OK
cessively hot weather, operators were
inclined to merely take care of orders re-
ceived. Prices for the leading articles
averaged lower, due to the increase in the
hog supply and q slight decline in prices
and the liberal receipts of products re-
ported. The bulk of the offerings how
ever, was credited 10 longs, who held
small quantities aud who desired to realize
their profits. Pork close with a loss of zoo
22lae. lard .05c. and ribs .G7l2 a .12l9c. The
leading futures ranged as follows: