The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-09-18

Wheat Takes a Further Tumble, Sep
TENDER Closing Saturday at ~ Cents.
Scalpers Made a United Effort Together in q Big
Corn Operation. but the Long Goods Did
Not Come Out OH the Weakness.
TRADING AT CHICAGO.
Provisions Went GA in sympathy with ths
Weak Cereals.

Provisions Went On i'm sympathy with the
Weak Cereals.
CHICAGO, Sept. 1.-THE scalpipR crowd.
practically oil ~aunning for one man-Leo
pold Bloom-was the spectacle afforded to-
day on Change. They were working on
the theory that the 500. 0C0 or 100000 BUSH
els bought yesterday by Rumsey -Lightner
for Bloom were almost sure to come on the
market if it remained weak. The scalpers
were not quite certain whether 2OO,OOO
bushels or so of wheat which came
through Councilman, was or was
not part of the Bloom line. Aside
from the Bloom episode all the
markets were very dull and prices tonight
were at the bottom figures of the day.
The declines amount to leo in wheat; 1.cin
corn: oats from ls0asc: pork Ice; lard 7lsc
for January and ribs for the same month 5
cents. The feeling in wheat was In sharp
contrast with the temper which prevailed
at the close yesterday. Then there was a
good demand and an appearance OF
strength: to-day there was little inquiry,
free selling and extreme weakness. Cables
were easy, domestic markets weak, the
weather fine. the cholera panic still on to u
certain extent, the receipts In excess
of expectations and the exports for the
week comparatively light. The estimates
of Beerbohm. telegraphed yesterday. that
the worlds wheat supply was 5000. 900
bushels In excess of it's wants. also tended
to discourage holders. The longs began TO
liquidate. and as there was no demand.
prices were steadily reduced and showed
.--. -st - A. 49, vhnat
traders hsveIn some measu re been depend
ing on damage to corn to hold the price or
their speciality. the absence OF further
frost was n weakening factor regarding
wheat. as well as corn. Heavy local re-
ceipts also continued, as they have for
some time back, to exercise q dieplrlting
influence.
1t was q scaIping market in corn most of
tho sessiOn. 1t WAS largely a local market
also. rs the country was doing little eX-
cept sending In conflicting reports on the
damage done by recent ~frosts. A few OF
the private wire houses had bullish news.
One special correspondent wired that the
frost of the 14th inst. did great damage TO
corn on the line OF the North western rail-
road through Nebraska and ADVISED grain
men to take n trip and see tor themselves.
Other private advices were equally bear
ish, saying that the frost did no damage.
The prime Ommen was a little mixed. lt
reported little damage but SAID that n
hard frost in September Will give q great
quantity of soft corn.
The rats market was narrowand dull,
ruling weak through sympathy with corn.
There was considerable changing from
October to MAY at $3.50 differences.
The provision trade was o tame affair,
with tho market weak in sympathy
with corn. and influenced by the fine
weather. Wright vas reported to be doing
what he could 20 support prices. with the
packing interests. for the most part. APP
parentiy inclined TO take o different view.
Freights were rather quiet. Rates to
Buffalo remained at 2lec for wheat and 24c
for corn. Mondays estimated receipts are:
Five hundred cars of wheat, $50 cars of
corn. 500 cars of oats and 81. 900 hogs. The
receipts estimated for hogs for the entire
week are l65, 00J head. The leading futures
ranged as follows: