The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-01-07
AN INNING FOB THE BULLS"
Chicago Wheat, Corn and Pork Put on
Wingsand Flew Upwards Yesterday.
Some Tricky Buying and Selling Going On,
Brokers for Armour and Partridge Doing
the Most of It-Corn Clique at Work.
TRADING AT CHICAGO.

Hog Products Led the Entire Procession In
the Matter of Advances
CHICAGO, Jan. 6.-The speculative
markets were all bullish to-day. with hog
products leading the upward movement.
Armour, who openly sold about 100000
bushels of wheat yesterday. Is reported to
have bought quietly yesterday and to-day
about 100000 bushels. There was no
change to speak of in the relative positions
of bulls and bears in the wheat market
when trading commenced this morning.
but in the course of the forenoon several
items of the news which came to hand re-
ceived q bullIsh Interpretation and created
a good demand from the shorts" The
early cables were moro encouraging to
holders and some dispatches acknowledged
the lmprov ement in English markets to be
due to adv ices from here. This considers
ton, taken together with the fact of
European stocks now becoming reduced, is
beginning to weigh with the spectators
and has created change of sentiment in
this market. Very cold weather was re-
ported in the West and extending gradu-
ally over the winter-wheat belt. The de-
liveries in the West were light. with local
receipts also very small-only 1O3 cars.
The strength in pork was felt symp athetic-
ally in the wheat pit also. These things
did not make their effect apparent, how
ever, and selling by New Workers and st.
Louis. together with reports that the plant
In the winter-wheat region was protected
by snow caused weakness for time. But
the tide finally turned when later cables
came In strong, and 1t was reported that
winter wheat was not In condition to stand
mu Oh cold weather. A decided advance
was the result Partridge was the most
liberal and aggressive short" seller.
freely, but finally showed more
reserve ana considerable caution. Shorts
were the principal buyers, although there
was some investment demand as well.
Bradstreets reported an increase in the
available supply last week OF 1.595.OOO
bushels east of the Rockies and decrease
on the Pacific slope of 29l. 900 bushels leav-
ing the net increase / ,SO4 600 bushels. Lo-
gan. whose buying started the market yes
terday. was again big buyer to-day.
supposed to be for Linn. May opened lso
lower. at 947sc, touched CSC. weakened to
94ssc, advanced to 96c and closed at 9534c.
There was fair amount of activity in
the corn pit, and although there was spell
of heaviness near the opening the tendency
during the greater part of the day was in
favor OF holders. The receipts were con-
siderably over yesterdays estimate, which
CduoC0 WC6hhCoo Nv tuO bbdib, Uub Us Ouly
two cars of the 161 inspected into store
were up to the contract standard. there
was nothing In the figures named especial
ly inviting for short selling. The strength
OF the wheat market was q help to the
corn bulls" and what is called the old
"bulP' clique-Bartlett-Fraz Patton
Bros and few Others-appeared to think
prices low enough to buy again. Pardridge
was said TO be selling moderately. May
started unchanged at 41Ac, weakened to
41ssc, then advanced to and closed at Al &c.
Oats were quiet but firm, and show q
gam of IA 0 asc.
The provision market led the "bulp pro-
cession, and that in the face of the hog re-
ceipts being even heavier than was pre-
dicted yesterday. There were a good many
buying orders in the hands Of commission
merchants. and packers were also helping
the advance. First prices were the lowest
of the day. and the market was near the
highest point at the close. There were
some minor reactions during the session,
but each successive advance carrist. prices
higher. One strong feature was the bid
ding between packers and shippers for the
receipts of live hogs. The shipments of
hogs to the East from here during the past
few days have ranged from $1,000 to 1900
per day. These are for consumption as
fresh meat, and the demand indicates that
the supply east of here is becoming ex-
hausted. This is q month earlier than
usual
Estimated receipts for tomorrow are:
Wheat. AS cars; corn. It's cars oats, 14S
cars; hogs, $4,000 head. The leading futures
ranged as follows: