The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-11-03
PRICES STARTED UPWARD
Feature of the Chicago Markets Was a
Strong Rally in ALI the Pits.
7. ]. Ryan. Who Vas Short 1000. 900 Pounds
in the October Ribs Deal, Says He viii Not
Settle at the Arbitrary Top Figures


When Wheat Began 70 Resct Corn Grew
stronger with Ii.
CHICAGO. Nov. "A strong rally. after
an interval of depression was the feature
of to-day's markets. The strength extend
ed into all pits, lifting both cereals and
provisions. Price changes from last night,
however, are not remarkable. In wheat at
the start there WIS apparently a general
feeling of encouragement and free liquida-
ton increased by rains throughout the
winter wheat DISTRICT. December was the
weakest and fell to &c discount on
May, against 5lsc difference yesterday.
Counselman was out with q statement
that all reports connecting his house with
an intended squeeze of that month are ut
terly without foundation, and that he
really feels very bearish on the market.
This was followed by weak cables,
which increased the depression and
the selling was for time urgent ana
vicious. The opening was &c lower, and
prices declined IL 05sc more. raliyin2 later
about ssc. ana closing steady sc from the
top. Reports from the Northwest are gen
orally greed as To heavy decrease in ia ARM
ers' deliveries, but country elevators and
side-tracks are so crowded that the effect of
that on VI Minneapolis and Dutluth receipts lie
not expected TO slow Tor some time yet A
good deak of December wheat held by
COunelman-Day was changed by them int
May.
Corn was weak during the first hour and
sold off sharply. influenced largely by the
downward tendency IN wheat, for all other
conditions were favorable. The receipts
were nearly one hundred cars less than
estimated, and rain was reported every
where in the corn belt. but the slump In
wheat carried corn with IL. Later. hen
wheat began to react, corn quickly fol-
lowed, and was further strengthened by
the smallest estimate for tomorrow. only
$50 cars. Opening trades were at Is a Ac adj
vance. but prices sagged 40lo. reacting
later ls0ssc, ruled quiet, changed some
and closed with fractional gain.
Oats were steady most of the day. The
receipts were only 173 cars and the estimate
for tomorrow was for only 40 cars. The
close was at 4 also above yesterdays
figures
There was sharp action in the provision
market most of the session. 1t not I'M
expected. The trade knew that the
Cudahy- w right people were after the Ry an
~ Co. pork. Many think this line was sold
out this morning. There WAS break of
zoe and then tue market went soaring.
Compared with last night pork Is 15c high
er, lard .17l9 "a 25c and ribs .07lac. L. J. Ryan
to-day admitted that no was q tritie over
100000 pounds short on the October ribs
deal. He also said that he did rot propose
TO settle AT the arbitrary price fixed on
Monday. The vigor with which lie was
pushed in the pork pit to-day may OF may
not have some bearing on the ribs deal.
There was a good demand tor vessel room
| and rates to Buffalo advanced sake, to
| pas 02lac for wheat and ga for corr.
Estimated receipts for tomorrow are:
Wheat 270 cars: corn, 235 cars; oats. $50
cars; hogs. $1,000. The leading futures
| ranged as follows: