The Indianapolis journal., 1893-08-09
HEAVY SLUMP In CEREALS
General Financial Depression in Chi
cago Mainly Responsible.
Quantity of Flour on Ocean Passage. Presi-
dents Message and Reports of More Gold
Coming Not Enough to Give Confidence.
TRADING AT CHICAGO.

Provisions, Excepting Pork, Held Up Well
Throughont the Day.
CHICAGO, Aug. S.-Wheat slumped 20
q bushel to- dsy, but recovered part of the
loss Corn closed $50 lower than last night
Disgusting but apparently baseless
rumors of more financial troubles, locally,
were chiefly responsible. In addition the
trade was hoping the Presidents message
would obtain some suggestion of means TO
Immediately relieve the present con gestion
pending the deliberate discussion of
permanent remedy. Provisions acted
strong on light receipts of hogs. and
closed considerably higher for lard
and ribs, but at the last moment
pork weakened and closed with loss OF
from loo to 12l9c. Wheat at the opening
was about the same as yesterdays closing
to "a "a ssc lower. and. with some fuctua-
tions. prices further declined lac for Sep
tember and 1lsc for December then fiuctu-
ated some. and the closing was about 1sso
lower for September and 1lsc lower for
December. An uneasy feeling existed and
there was rather free liquidation, notwith-
standing the quantity of wheat and flour
on ocean passa 2e had decreased ,632, OoO bu,
reports OF 8. 600 more in gold coming to
America, and the Illinois crop report being
decidedly unfavorable, reporting the yield
per acre the smsllest since 1855. and the
crop the smallest harvested for years.
There was some shipping demand ana
some lots were worked for export. and
more. it is said. would have been done but
for the difficulty In selling exchange
Corn opened firm. tue hot ana dry wealth
or every where. except few scattering
showers through Colorado and the extreme
Southwest, having this tendency. First
<r,A Aaa L. adx m Tno
ket. however. Immediately sold off, declin
Ing SOLO on unfouDded rumors coming
from New York of fresh financial troubles
here and In sympathy with wheat. Inc
price worked up again about as quickly as
it had declined. recovering one-half OF the
break, but again sold OFT on predictions
from Washington that showers were IN
dicated for Kansas. Nebraska and Iowa
The market changed some, ruled easier
and at the close the near futures were = I'd
1lsc easier. and distant deliveries $50 "A o
lower Selling of September and buying
of October was q feature.
Prices for oats fuctuated she anu the
close was weak at nearly the inside. with q
Affected other grains was the chief cause
for the recession in oats.
Although Eastern shippers of hogs were
ont of the market, owing to the collapse OF
exchange. the receipts of the live ANIMALS
we've not enough to meet the demand
which came chiefly from local packers
The result was hrmness In the provision
market although there was only light
trade compared with last night. Lard IS
from zoe TO .22hc higher. and ribs from
| .10c to $50 better. Pork was firm until just
OF the close. when it went off 25c per barrel.
Freights were dull and weak at Ia Q
asked for wheat aud 10 for corn TO Buffalo.
Estimated receipts for tomorrow are:
hogs. $4,000. The leading futures ranged
as follows: