The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1892-05-25
CHICAGO PRICES LOWER.
A Recation from the Big Boom of the
Market on Saturday.
INDIANAPOLIS, ND.
MoNDAY EVENING. Nav %.

MONDAY EVENING. May IS.
James E. Berry's Chicago advices today were
as follows:
Traders and commission houses were quite
generally disappointed in the action, or rather
inaction, of the wheat market today. Some
looked for higher prices. some for lower. but
they all agreed that the market would be an
active one, and the result was an inactive
market
The market opened about go lower than
Saturday and closed exactly at the opening
price. remaining around S214c the greater part
OF the session. 1t became quite strong at one
time, showing 40 to PC advances on the post
ing of the visible making a decrease of $780,
600. Antwerp and Berlin markets were higher,
English and French markets lower. India
shipments were very large. amounting to 2,5OO.-
COO. Weather conditions throughout the
United States remarkably fine.
Corn opened about 1910 lower, remaining
around the opening price throughout the
greater part OF the day. advancing about 10
per bushel from the lowest figure. but finally
closed with nearly all the advance lost Should
the favorable weather continue for a week the
receipts will undoubtedly be very large and
holders will have 10 DO very industrious to
hold prices.
The market for hog products was not very
active but strong, there being coed demand
for lard and ribs from shippers. The
latest report just received is that the report of
the India wheat shipments of 100000 is an
error. This latter report comes from New
York. There is no change yet in the frat ca
bic report that we received.
Wheat was firm today; corn was likewise and
continued quiet.
Receipts for the past twenty-four hours q
cars against total of oars for Saturday.
Whest-Firm; No. 2 red, 500 bid; No. 5
red SIC.
Corn-Firm: No. 1 white, soc; No. 2 white.
SOC bid; white mixed. 47c; No. white. 40
4Sc bid. latter for one color; No. yellow. zoe;
No. yellow, doc; No. mixed, 46c bid; No.
3 mixed 46c; sound ear, 45e.
Oats-Quiet: No. white, $40 bid: No.
27929c.
Brsn-Quiet; $3.50.
Hay-ChOioe timothy 81. so: No. 1, 919 bid;
No. ?. $1,000; No. prairie. $3.50; No. prairie,
$3.50; mixed, $500; clover mixed, S.
Rye-No. 2. 75c for car lots, Csc for wagon.
Wagon Wheat-s6o bid.
On Msrket-Hay. timothy, $l2.00014O0;
mixed. S1l.00912O0; clover, S9.00CG11.00; mil
let, $500; shelled oats, 30933c; sheaf oats,
$500; corn, 4595Sc.
CHICAGO. May ga surprise was in store
for the speculators--the biggest weekly de-
crease ever reported in the records of the visi-
Bile supply of wheat. 1t caused a sharp recov.
cry from a general decline in prices caused by
the sudden general improvement in the
weather. Nevertheless, compared with Satur-
days closing, everything on the list is lower
this evening-wheat sc, corn 1850. oats 80.
pork l21ac. May corn nominally, shows
decline of lOc. The signal service map was
the first thing that attracted the attention of
operators. 1t showed that the weather every
where was splendid for the crops and for farm
ing operations. There we're only two
points west of Chicago where any rain
fall was reported and the barometer in.
dieated a continuance OF these conditions.
Values were still further demOralized by a
drop of IA to Id reported in Liverpool and
the sharp down turn In domestic markets.
Long wheat was freely liquidated the bears
who have been held IN check By the bed
weather sold short freely aud there was
gradual drop of 40 from the closing figure of
Saturday. PardriCge was not doing much.
There was some good buying by those who put
out short lines on the recent bulges and were
inclined to take profits. Purchases by Logan,
Schwartz'Dupee and Milmine- Bodman were
largely covering OF short sales made + riday aud
Saturday. The visible supply, it was thought.
would show good decrease, OF any
but the report of the lakes was
the last in, and when that was posted, showing
q decrease OF nearly 100000 bushels, and an
aggregate decrease Of 4.5Ol,OO0 bushels, the
market took sudden jump OF hc. But the
advance WIS met with news OF biz Indian ship
meats 100000 bushels aud a rumOr that the
worlds shipments 20 Europe were over $780,
600 bushels. The opening was about ss@&o
lower than Saturdays closing. ruled weak aud
declined re more then rallied / Sc and again
easel oil 40 at the close. Corn weak and
lower on the fine weather the marked improve
ment in the grading and the free realizing and
short selling. The May deal looked to be on
the point Of a collapse; the short interest
was apparently largely eliminated last
wanted today, while the realizing by
the longs was heavy There was con sderable
talk of large settlements by shorts on private
terms. Initial trades were ut l5C92o decline
from Saturdays close, and further weakening
of ssGD34c set in. prices then advancing ia
114c easing off later 80. There were no trans
actions in May corn until fifteen INMATES after
the opening. when Baldwin took from Hess
10, 900 bushels at $50. or 20 lower than the NOM
inal value OF the article At the close Of the mar
ket on Saturday. There we're a few sellers
who continued TO offer May at lower and still
lower prices until it finally touched coo. Boy
den * Co. were Che most conspicuous
OF those who had May corn to sell during the
decline. but altogether the amount OF IL which
changed hands probably did not exceed 1OO,-
600 bushels. Oats were traded in fairly and an
unsettled feeling prevailed. The market opened
weaker and AC11c lower and declined 140DsSo
more in sympathy with wheat and corn, but
when they advanced and the visible supply
abatement came in a frmer feeling developed
and prices advanced solo. The close was
steady. Notwithstanding the frmness in live
hogs at the stock yards. provisions opened pa
CG5c lower than Saturdays final figures on re-
ports OF the weather. The offerings OF pork
for September delivery by q prominent pack
ing institution drove the market down several
points. but lard and ribs scarcely participated
In the break. Grain was also a strong element
in producing weakness When wheat advanced
on the visible supply figure, provisions doomed
in sympathy, the local crowd. who had bought
early, rushing to cover. This was followed by
a slight reaction, the market closing steady for
pork and for lard and strong for ribs. Lake
rates we're easy az la for wheat and IA for
corn 20 Buffalo.
The estimated receipts for tomorrow are:
100 cars wheat; $50 cars corn; 200 oats aud
II, coo hogs.
Tho leading futures ranged as follows:
ArIiois-. Opening. Highost.I Lowest Closing