The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-05-30
SOME ONE TO BE SQUEEZED
May Corn Touched S2c, Closing at soc,
While Pork Closed 70 Cents Up.
NAY Wheat Closed at a Premium of a Cent
over the July Future, Being an Advance Of
loc On the Day-Oats Firmer with Corn.
TRADING AT CHICAGO.

Gains Were Noted IN Both the Grain and
Provision Pits.
CHICAGO. May GA big jump in May
corn to-day caused great interest, but ap-
parently no excitement, The advance
amounted to 15c a bushel. The deal was
difficult to follow. Not from the amount of
trading, however. but rather from the lack
of it. To find out how it was going the car
lot crowd had to be consulted. These cars
of contract grade were being sold at 75c
early. and later SOC was freely paid. and
even Sic was paid for o car or two. Buyers
were punching the carloads into 5000
bushel lots and selling them for May In the
pit at between SOC and sec. days receipts
were 474 cars. eighty-One of which were OF
the contract grade. and the estimated re-
ceipts for Monday. $50 cars. are heavy.
Rumor points to Partridge. COngdon, Ar
mour and Counselman as the shorts, and to
Coster-Martin. Bartlett-FraZier and X. +.
Pratt as the holders of the deal, not for
any New York clique. but for their own
individual profit or loss. as the case may
De. The close was at soc, or &c from the
top of the day, against &c last night.
Other months than May were fairly active
and made moderate gains. Opening trades
were AT f2V &C dQNdflco Ou tuo WcutucT,
and on continued buying the market adj
vanced sO4c more; reacted sole. ruled
steady and closed with July "a sc higher.
Wheat opened lac higher. and prices were
further advanced @sc. then settled back 4s0
1c, held steady, and the closing was about
S6 lac higher than yesterday. Trade was
mostly local, with some little outside buy
ing. The principal influence was the
weather, reports being received OF rain In
the West and Northwest. The advance in
.rOrn and nrnyiaInna ha1nad tho aQrlv nd.
vance, and then Monday being a holiday
induced 'shorts" to cover. Severns and
other elevator owners bidding for May
caused q premium of nearly &c over July.
Later. as the most urgent demand got filled
up. there was a general easing up. The
export clearances for the week were also
less satisfactory. With smaller exports
and larger receipts, the visible supply, 10 is
said. is likely to show somewhere about
two million bushels decrease. there being.
however. considerable uncertainty, as q
number of operators. look for a reappear-
ance of some of the wheat which dropped
out of the visible supply last week. and
others do not.
Oats ruled iirmer with corn, the market
being moderately active. and closing at an
advance of kc to l5c on recent figures. A
good many of the traders who sold freely
yesterday bought to-day.
1t was an active day In provisions. The
market showed evidence of manipulation
in connection with the remarkable upturn
in corn early in the day. The scalplng
trade sold out very largely yesterday on
the declining market, and not q few went
short in anticipation of q further decline.
This morning it appeared that il was only
ssbake-out yesterday. and that the Cudahy
people were not only holding on to prod
nets. but ready to run the mar
ket up again. With light offerings
early and corn higher the shorts took
alarm and with the aid of the local bull
and packing Intereste there was n big up
turn IN prices. Pork was advanced 40c over
last night; ribs. zoe. and lard .10c. and all In
the first hour. Brokers claimed that the
Cudahy people and others. said to be work.
ing with them. were sellers on the advance.
Late in the day the market held more
steady. about halt Of the early advance
lost.
Lake frelshts were steady with, a moder-
ate demand at 1l9c for wheat and 14c for
corn To Buffalo. Estimated receipts for
Monday are: Wheat, 100 cars: corn. $50;
oats. 800; hogs. $1,000. The leading futures
ran ged as follows: q