The Indianapolis journal., 1892-09-29
GRAIN WAS BADLY UPSET
The Price of Wheat Was Carried Down
5.Scand Corn Ducked from IA to 1-2c.
Appearances Indicate Three Separate Cliques
Dabbling in Provisions. the Price Of
Pork, Ribs and Lard Advancing.


Lard Was Marked Up .12 iac. and Pork from
15c To 3Oc
CHICAGO. Sept. a6-An undigniied mp
set was givcn wheat to-day by the show
ing of big increase In available stocks.
Immedia tely heavy local speculators took
fright and dumped their wheat. Leopold
Bloom sold wheat through Rumsey- Light
ner. and some heavy selling by Lezsynski
and Parker was also said to have been on
his account. If Bloom owned all the
wheat sold by those parties he must have
been long 100000 bushels. Compared
with last night. wheat shows loss of SO
and corn Il "a lac. There was considerable
Of fright during the forenoon with the
December prIce hanging around 71c and
the May around SIC. Tie effort of the
bears to force prices under these fig ures
was very similar to that when they at
tempted to get the price under zoe q week
or ten days ago. The receipts at prImTy
points were very eavyA5o0,OOO more bu
than year ago-and the small deliverie 8
in the Northwest were accounted for by q
break on the principal railroad. The feel
ing soon became weak. and realizing was
general. 1t is doubtful If the sci ling forces
would have prevailed but for the mid
week statement wired from Bradstreets
giving an increase in the avail liable stocks
east of the Rockies of 4. 743, 900 bu. and an
increase on the Pacific coast of $4,000 bu.
making total for the whole country of
5,732, 900 bu, or abOut 100000 bu more in
crease than was shown In the visible sup
ply. The opening was about the same as
yesterdays closing. but declined about Ac,
then rallied $50. which advance was fol-
lowed by decline of IS "a $50.
ThARn l... <wf lad
trade in corn The market opened at n
fractional decline, the continued fine
weather over the corn belt, together with
the government weekly crop report. W hich
was construed as favorable, having weak
ening tendency. There was u good de-
mand. however. which appeared to come
from new sources, and the price. after SELL
ing off slightly, advanced $50. reacted as "a
l9c. changed some and closed &C bottom
prices.
fair scalping business was carried on
in the oats market to-day, with options
closing from sc TO Ac lower In sympathy
with the weakness OF corn.
The provision trade acted somew hat as il
there were three deals going on in pork,
lard and ribs instead OF one deal in ribs.
January received excellent support Lard
was again very strong and was marked up
.l2l.c for both October and January for tho
October at the best point, with January
up about l5c at the close. WrIght's brOk-
ers were buying lard as we'll as supporting
RIBS. and Armour was called a buyer of o.
tobeE pork. Wrights purchases of No
vemuer lard gave rise to talk that. after all,
bis transactions may simply be the surface
| indications OF what Cudahy is doing.
The State Board of Railway and Ware
house Commissioners. on the recon- me nda-
| tion of the Chicago Board of Trade. has
promulgated the following rules to become
effective unless cause is shown why they
should not. at the next meeting OF the
board:
The word new" shall be inserted i'm each GER
| tiicate OF inspection of a newly harvested crop
| OF oats until Aug Is. of rye until Sept /, OF
wheat until Nov. 1. and of barley until May 1 OF
each year. This change shall be construed as
establishing new grades for the time specified
to conform TO the existing grades OF grain IN al
particulars excepting the distinctions between
| the new and the old crops, and shall apply tO
grain inspected from store for two months after
| the times. respectively. above specified.
| Vessel.room WAS inquired for fairly al
| 2kc for wheat and &c for corn to Buffalo
| Estimated receipts for tomorrow are:
| Wheat. t5J cars: corn. $50 care; oats. 29(
| cars; hogs $1,000. The leading futures
ged as follows: