The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1893-12-20

CHICAGO. Dec 1s-wheat dropped
11so today and May broke all records.
landing at 66izc, the lowest it ever sold
for before. The cause assigned was the
heavy increase in the visibly supply.
Corn and cats went down in sympathy
with wheat and because Of their own too
liberal receipts. May corn is &c lower
and May oats sc off. Provisions also
suffered a sharp break. Wheat opened
with May 5sc down at 671kc, but with
northwestern receipts light compared
with last weeks movement and very
light compared with last year. advanced
TO yesterdays closing prices. The amount
on ocean passage was unchanged and
the Liverpool market was quoted by
private cablegram as firm with an up
ward tendency which was said to be due
20 decreasing Russian exports. This
held prices steady for a time. but as the
returns came in the indications were for
n heavy Increase in the visible and with
the consequent selling the market began
20 weaken. Prices went down until 81
was reached under the constantly in
creasing indications of an increase. The
returns were slow in coming in but when
the report was posted it confirmed the
worst fears Of the bulls and the expecta-
tons OF the bears were more than full
tllled. Instead of an increase not to ex-
coed 100000 bushels. leaving as looked
for. the increase amounted to
$4,000 bushels, leaving the total at
SO. los, 900 bushels compared with 49, 900
bushels at the corresponding date Of last
year. Chicago stocks increased 40S. 900
bushels, Minneapolis $4,000 bushels and
Duluth $4,000 bushels, an increase of
1.364,00O bushels at the three places,
or about equal TO the entire
increases. leaving the stocks at all other
points as balancing each other Imme-
diately following the announcement
there was another drop in prices. The
export clearances were added to the
bearish news of the day, showing ex-
ports Of but $4,000 bushels of wheat and
-four at the four principal Atlantic
ports and New Orleans. There were a
few rallies on buying at the low prices,
but the weakness of the market cOntin-
used until the bell put an end to the
bulls misery, and May closed at the
bottom figures Of the day. May opened
at 6715c, advanced &c. sold off &c, rail-
lied &c, lost 1tc, and declined another
1Ac, to close at 66lz. Corn started Wi n
May 1sc off at $3.50. Receipts We're 612
cars against the estimate OF 49, and
this, with the weakness in wheat sent
the price down until May reached 37ISc
1t rallied 1sc at the end. to close at $50
oats were firm at the start, May OPEN
ing but sc lower at 3034c, when II held
steady for a time. The weakness in
corn was against the market however
and despite liberal buying by Irwin
Green, Walker and Wren and others,
May sold of steadily and closed at
S0Ac, but sc above the bottom figures
Of the day. Provisions We're duh, weak
with packers selling. and Influenced by
the extreme weakness in the grain pits,
compared with Saturday night January
pork is 2712c lower, January lard 17iAc
lower and January ribs 15c lower. The
reduced rates to New York went into
effect today-171Ac per 100 pounds on
flour and grain, zoe for provisions.
On Jan. ] they viii be advanced to 25c
on -four and grain and Soc on provis-
ions. Estimated receipts for tomorrow:
Wheat, $50 cars; corn, $50 cars; oats, 230
cars; hogs, $4,000.
The leading futures rang-u as follows:
Articles. Omen. HfEh. Low. Close