The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-06-21
SEPTEMBER WHEAT Ga SIC
Lowest Price Ever known for the Lead
ing Cereal This Time of the Year.
On Continued Good Reports of Growing Crops
and Q Quantity of Realizing Sales
Corn Qaickly Sold of 7oc.
TRADING AT CHICAGO.

Charley Wright Causes q Sensation in Spare
Ribs by Anticipating Armour
CHICAGO. June 20.-Wheat to-day was
weak at tho lowest prices ever known for
ii, and, compared with last night. closed
nearly 10 lower for September. Corn was
easier on realizing sales aud good reports
of the growing crop. 1t declined sc since
yesterday. Oats were comparatively firm,
the decline In July being only hc. Pro-
yisions were weaker. ribs selling off .25n.
Tight money was the cry from the wheat
spectators all day. About so per cent. ia
being paid in Chicago. as represented by q
spread of cents per bushel between the
July and September prices. That was the
paramount influence in the market; in fact
news of any other kind was scarcely
listened to. and tho bears made much
of the powerful weapon. There was
q report that London people had arranged
TO carry the wheat here through the Bank
of Montreal. but that. it was declared.
could only be true on the suppOsition that
London people had the cash wheat here
bought for July delivery. which Is not gen.
orally believed to be the case. Armour &
Co. are. it Is said. prepared TO carry all
The opening was about the same as yester-
days closing and. with slight fluctuations.
prices declined lac for September then
held steady. and the closing ives about q
| cent lower for September and solo lower
for July delivery than the closing fiRnres
yesterday. 1t was said that some of the
banks had refused TO renew loans on wheat.
| and the fact that the September premium
belief. Later the premium was only Al a
4%o.
There was considerable interest in corn,
the market ruling quite active most of the
session, with the feeling unsettled and
prices irregular. The conflicting foreign
| advices in regard to the duty question
made operators more mixed than ever as TO
| which side of the market TO favor. The
! tone was strong and hrst sales were a
| about the final quotations of yesterday. A
| Paris bile stating that the Assembly had
| passed q bill to temporarily suspend The
| duties on corn and that the German gov
| eminent was also contemplating the same.
| had q very bullish effect. Offerings. how
/ ever, were greatly increased, several
| prominent concerns supposed to be long.
| selling freely, which carried prices down %
| 0a4c. Private advioes coming to hand
denying the proposal to abolish duties on
| corn was considered later news and the
market reacted accordingly. Later the
price worked up Sc on the estimated re-
ceipts tomorrow of 210 cars. declined $50.
and at the close had lost fully &0%o.
/ ln0 iowa. h6uSaS anu OtDeE Stdto crop
bulletins were beafsh factors.
In oats the feeling early was strong, but
later weakness developed In sympathy
| with other grains.
There was little circus In the provision
| trade. A few packing houses. headed by
| Armour and the Chicago Packing Com
| pany. undertook to sell some short ribs.
| In this they were onticipated by Wright,
| who raIded the market in way that made
| profitable sales difficult. Closing prices
were nearer the bottom of the days range.
| Compared with latest prices yesterday,
September pork is SC lower, LARD is of .15c
| and ribs lost .25c.
Estimated receipts for tomorrow are:
| Wheat. 80 cars: corn. 210; OATS 1870: hogs.
| 10000 head. FreIghts were slow. but offer.
| ings of tonnage were light Rates to Buf-
| falo were easy at 20 for wheat and "a c for
| corn. The leading futures ranged as fol.
| lows: