The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-04-25
KILLING FROSTS REPORTED
Which Served 10 Keep Wheat Up Until
Shortly Before the Close.
The Clique Sells Literally of Nay, and Imme.
diately Proceeds to Load Up with July,
Making Shorts Suspect Another Coup.
TRADING AT CHICAGO.

Strength I'm Grain Accompanied by AID.
yances in Provisions
CHICAGO, April 24.-Wheat to-day aver
aged hiRher, but left off with a decline of
lac in May and $50 in July. Lynn Champ
lin and some others OF the heavy local
scalpers fought against any advance. The
clique bought at the opening and sold on
the advance. In the wheat pit specula-
tive feeling was nervously apprehensIve,
and as q rule shorts were inclined to cover
and there was considerable Investment de-
mand. Cables were firmer and there was
renewed talk of foreign crop damage from
drought. but a number of private messages
from Paris and Berlin denied thatany dam
age had been inflicted on grain. while adj
uniting that pasturage had been seriously
shortened. The condition in Kansas w as still
said to be full OF peril to the wheat crop.
Some good rains were admitted. but dis
patches from many parts of the State said
that the recent freezing weather had done
more damage to wheat than the recent
drought had. The Weather Bureau also re-
ported killing frosts in Ohio, Kentucky and
Tennessee. and 1t was thought that much
wheat must have been injured. as much of
the orop there is in the Joint" at which
stage IL is susceptible of injury from frost.
During the last hour wheat turned easy
mainly on free realizing sales. The de-
crease OF the corresponding week or last
year was 1906, COO bushels. There Is a
growing feeling that the clique Is shifting
around In its position. being likely to drop
May and bull July. It sold Pardridg e 50.-
COO bushels May to-day. but immediately
replaced it by, q purchase of the same
amount for July and has done the same
thing In many other instancee. July opened
about 3 to- 4c lower and then rallied %4c,
again became weak and prices declined
a6c. ruled steady and the closing was
lower than Saturday.
Corn attracted a great deal of attention.
the market ruling much more active, price
changes covering a wider range. with IN
creased outside interest. The sentiment
appeared to be q continuation of the
stronger tone developed late Saturday, and
still higher prices were scored, extreme
figures. however, not being maintained up
| to the close. There was "A better outside
demand. 81. Louis being credited with Dur-
chasing freely. New York was both buy
ing and selling. Indications of a better
cash demand and strength IN surrounding
markets all tended TO sustain values. Open
ing trades were at about the final figures
"a the previous session, and. alter selling
m %c. worked back lac. rallied $40. eased
off lac. ruled firm and closed with q gain of
s0Ac.
There was o good business in oats and a
stronger Ieeli0x. Inc market OpencQ Ac
lower for May. but steady for the other
months. Good huying of May and selling
of July caused it to decline from Sc premi-
um at the start to the same price as May at
the close.
There was q big. broad market in pro-
visions most of the session. Prices got q
very decided advance during the morning.
and part of the gain was lost before l
o'clock. The greatest volume Of trade. as
well as the greatest action In prices. was
on pork. The strength was also better
maintained in this product. The strength
at the start was from the hog mar
the estimate of $1,000. There was
some outside buying on the early
market. Strong local parties were good
buyers on tho advance. Steever bought
freely of pork for Wright or Cudahy, per-
hsps. and Wright was n buyer besides.
Armour took pork and Cudahy lard and ribs.
Packers generally were good buyer
Short Il naturally covered stuff. On the
good advance those with profits were free
sellers. When the offerings became liberal
prices went off quite sharply. but still held
q good advance over Saturday. as follows:
Pork from soc TO 37l9c: lard from .07l3o to
.1212c, and ibis .O5 higher for September,
with the other deliveries unchanged.
Freights were dull and easier at Ia on
wheat and lc for corn to Buffalo. Esti-
mated receipts for Tomorrow are: Wheat.
$40 cars: corn. $50 cars; oats, 225 oars: hogs.
$4,000. The leading futures ranged as fol.
lows: