The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-08-15
REACTION IN ALL THE PITS
Upturn in Prices Due Solely Utmost to
the Character OF Late Reports.
September and Corn at Even 53c, with
Rumors Of Better Prices Coming Soon.
TRADING AT CHICAGO.
Provisions Were Active and Strong at an
Advance.


Provisions Were Active and Strong at
Advance.
CHICAGO. Aug. 13.-The weakness which
has been the conspicuous feature of the
markets had disappeared at the opening
to-day. and as the result of the days trad
ing everything dealt in on the Board of
Trade is higher than at the close yesterday.
This fact is due in part to natural reac
ton from the recent declines and in part TO
the news of the day. The trading. how
ever was generally light. Wheat exhibit
ed conspicuous undertoLe of strength.
considering the volume of trading. which
was small. This undertone was supported
by the Improvement manifested in the
cables, liberal ex ports from both coasts. the
bullsh purport of beerbohm's estimate
of the worlds wheat crop, the receipts
hs4s being under the estimates
and reported heavy cold rains
in certain sections of the Northwest. The
Ac over yesterdays closing prices and the
fluctuations during the W hole of the session
were confined to q half-cent range, the
market closing with gain OF l5c. There
were some sales at top figures. at 77s4c for
September, but at the same time there were
buyers at 7Sc and q good deal changed
hands at the latter and very little at the
former price at the time referred to. The
price held for matter of half an hour at
7Sc, or better, and then took q dip to 77a4c,
after which it renamed for long time at
777sc with very little offered for sale and
just as little wanted; closing firm at 7Sc.
The corn market was very firm, Septem-
Der touching $50 In the first rush to till the
early orders. There were some sales at the
same time at 5234c but $3.50 and SOC were
moro generally current at the opening.
The latter price Was also the closing quota
ton. but it WAS being offered at that. There
developed about half an hour from the
start. daring which there was drop to
52asc. The recovery was due to some I'M
easiness regarding the approach OF colder
most northern counties. where corn is
growing. and the good demand which was
reported from the cash crowd. The latter.
more than frost in the corn country in Au-
gust, was probably the explanation of the
change in sentiment. which caused the
market to wind mp at about it's highest
point. The stock of corn In Chicago Is said
to be chiefly owned by j. Bryant, and he is
no bear on the article. He looks for 65c
for the couple of million bushels or so of
September corn which he Is said to have
laid by.
Oats fluctuated within narrow limits. and
closed with q gain of l4c.
Provisions opened active and strong. with
an advance of &c in pork .02l9 "a. 1910 In
lard. and .05O. 10c in ribs. Armour's brokers
were taking erythiDg that was offered at
the improved prices. and caused a complete
change in the feeling of the crowd, which,
until the support given BY Armour. was
inclined to be somewhat panicky. The
small receipts of hogs, as reported from the
yards-8 900 head-was q contrIbutory cir
cnmstance in toning up the trade at the
start. An estimate OF $4,000 hogs for all of
next week also had it's influence In restor-
ing confidence. There was some realizing
at the advance, which brought reaction
from the extremes reached on the first
bulge. but in the end prices remained high
or than at the corresponding time yester-
day by 12h0l5c in pork. .o50.S0c in lard.
and .07l2c in ribs
Estimated receipts for Monday are:
Wheat $50 cars; corn, 400 cars; oats, 800 cars;
hogs $4,000 The leading futures ranged as
follows: