The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-10-26
HAS SPENT ITS FORCE
Wheat Is No Longer Affected by
the Silver Repeal Talk.
Bradstreets Visible Supply Statement,
Showing 4,059,000 Bushels In
crease, Good Bear Item.

CHICAGO, Oct. 25.-Repeal has spent it's
force. That seemed to be to-day'S verdict
In the wheat pit Yesterday, u mere rum
or OF the repeal of silver purchase was
sufficient to add 115c to the price OF wheat,
and to-day, with that repeal in clear view,
the price declined almost 1c. Repeal, it
was argued, will make wheat none the less
over plentiful, and unless either the re-
ceipts become smaller the foreign de-
mand more urgent, it can Lave no lasting
influence unless through tho revival of
the general trade of the country Corn
dragged on q falling off in the cash de-
mand, but in strange contradiction to
the expected effect OF light receipts. The
close was at 14c under yesterdays final
quotations. Provisions were again dull and
neglected at considerably lower prices. The
worst blow to wheat was when Brad
streets statement of the visible supply was
received few minutes after Il O'Clock, re-
porting an increase of 2. 900 bushels east
Of the Rockies and 492, 900 bushels west,
and an increase of So, 900 bushels in Euro
pean stocks and the quantity afoat, thus
making increase in The worlds stock
In sight, of 4,059OOO bushels. The receipts
In the Northwest continued quite liberal
and the export clearances were small. For
eign reports indicated more liberal ship
ments of Russian wheat. The opening was
about b43sc lower than yesterdays clos
ing figures, eased off A@1kc more, then rail-
lied ss0Ac for December and 1hlJ5so for
May, but again settled back, declining so
&c, and the closing was &c lower for De-
cember and 7sQ1c lower for May than yes
terday. The market acted as though some
party parties were feeding the market
freely on each rally.
Operators in corn were, apparently, at
sea during the greater portion of the day.
The bulk of the business was credited to
room traders. The market opened rather
steady at about 1sc decline, and further
reduction of SGI3c was submitted to.
About the middle of the session q little
more steadiness prevailed and prices raj
lied 1S@Ac, but settled back slightly and
the market, in a general way, closed
steady.
In cats there was no particular pressure
TO SELL prices were confined to the 40
range, and closed sc below yesterdays.
The near futures were neglected.
Hateley Brothers, A. s. White & Co. and
the Chicago Packing Company, who have
bcen for some time, backing the main sup
porters of the October prices of hog prod
ucts, were free offererS, not only for the
present month, but for January as we'll,
and that was the chief cause of the day
decline The market became very weak in
the closing minutes of the session Com
pared with last night, October pork is soc
off and January, Zee; october lard, soc,
and January, .1Oc; October ribs, .45c, and
January, .1712c.
Vessel room was in good supply and rates
rather easy but no change made. The
charters TO Buffalo were at 2Ac for wheat
and &c for corn. The estimated receipts for
cars; oats $50 cars; hogs, 1900. The lead
ing futures ranged as follows: