The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1892-06-08
WHEAT DROPS IN VALUE.
The Hatch Bill Partly Responsible for
the Decline.
INDIANAPOLIS, IND.

MONDAY EVENING June o.
James E. Berry's Chicago advices today were
as follows:
No English or French markets today. owing
to holiday. There were soms fairly good orders
to buy wheat the early part OF the session
based on reports of rust and the belief that hot
sunshine after so much rain would be unfavor-
able to the crop. But the market all day has
showed the effects of heavy realizing Saturday
Holders having had bad luck in securing prof
its heretofore made good use OF the strength
the last of the week to secure their profits, the
result of which has been heavy market today.
Although the clearanoes were large the visible
supply decreased over one and half million,
and reports of rust were used, yet all these had
no effect, simply for the reason that the market
had all the advance it could stand without re-
action. Exporters appear to be liberal buyers
around soc. but are conspicuous Tor their alb
sence on any good advance. The passage OF
the Hatch bill by the house o. representatives
was undoubtedly partial cause of the very
weak closing.
The corn situation can be summed in few
words-fne weather. receipts largely over the
estimate high prices and no shorts. The ineV-
liable result-3c to Sc decline per bushel.
Buyers of mess pork for speculative pur-
poses. WAC are quite liable to be numerous
after the market has advanced 81 per barrel,
are again to be counted among the unfortu-
mates. The demand for ribs and lard continues
good and the market was strong In view OF the
number of hogs anxious TO get aboard IN boxes.
Wheat snd corn we're lower and weaker to-
day with but little demand. Oats were firm.
Receipts today p cars, against IL cars SatuT-
day.
Wheat-Essier; No. red, 500 bid; No. 8
red, S3c.
Corn-Easier; No. white, soc: No. 2 white
SOC bid; white mixed, 4S1Ec; No white, Az
O49l6c. latter for one color; No. yellow,
4S12o; No. ) yellow, 471zc; No. mixed, 4S15c;
No. 3 mixed. 4719c bid; sound ear, 491ze bid.
Osts-Firm; No. ? white. 37l4c bid; No.
3 white. 36Zc; No. 2 mixed. $500 bid; re-
jected. 32G934c.
Brsn-Quiet; $3.50.
Hay-Timothy, choice. $500; No. 1, tim
othy. $3.50 bid; No. 2 timothy $l0.75; No.
prairie. $500 bid; No. ? prairie. $3.50; mixed,
$500: clover mixed, $500.
RYe-No. 2, 76c bid for caRlots CSC for wagon.
Wagon Wheat-s6c bid.
On Market-Hay, timothy, S12.0001400;
mixed, S11.O0G1200; clover, S9.OOCgl1OO; mil
let, 800; shelied oats, 3o935c; sheaf oats.
$500; corn, 45G55c.
CHICAGO, June 6-Everything and nearly
everybody was against wheat today and the re-
suit was a very considerable loss in value At
the opening better weather in the West caused
weakness Prices started ut Saturdays closing,
figures TO 80 lower, and decline 80. Then re-
ports were received from the winter wheat
country to the elect that the bright warm
weather on the rain soaked fields causing
rust in the grain. This caused free buying aud
a rally of sc at the top. However, she fact that
the Hatch anticipation bill had passed the
house OF representatives by large majority
was unexpected and caused a rush to
sell. which carried prices down
Use. Later consideration, however
led to a belief that the bill would be defeated
in the senate. and there was rally OF &c
Fluctuations thereafter were narrow and the
close was easy at o decline. Corn was weak
from the start and closed near the bottom.
The weakening factors were the passage of the
Hatch bill, the better weather. heavy estimates
and receipts for tomorrow. the unexpectedly
large receipts aud free selling by longs. The
close shows a loss OF from 25sc to 40 from the
various futures, the nearby months suffering
most. Oats are off 1L@l2so. Polk is down
1218@l5c. Lard is unchanged to 90 lower and
ribs are 90 oil.
The leading futures ranged as follows: