The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-05-26
BEARS GOT A SQUEEZING
Chicago Bnlls Rushed in the Grain Pits
and Sent Prices Upward.
and Domestic News Was Nearly all in the
Nature Of Disbursement 10 Shorts.


Provisions Fluctuations Wide aud Wild,
Closing "a Trias Higher.
CHICAGO. May 25.-Booming grain mar.
kets were the rule to-day. both in respect
TO volume of business and prices Wheat
sold MP 1kc from the low point yesterday
and ssc above the close last night. Corn
and oats were even stronger than wheat
1t was n case of see-saw IN hog products.
The bears seemingly began to question tho
wisdom of crowding their side of wheat
much further. and instead were disposed to
reap profits. Cables came in better than
was expected. considering the weakness
yesterday; b good many rather unfsvora-
pie European crop reports appeared In the
morning papers or were received through
private sources. while the low temperature
which was reported in many portions
of this country also helped to create bet
ter tone. The bulls found encouragement
IN the fact that with twenty live csrEoes of
wheat off coast to-day the Liverpool
prices kept strong and even higher. The
Cudahy crowd was buying heavily. 1t is
believed by many that Partridge is long.
There was some bear news afioat but the
sentiment was too strong for il to have
much effect. The Cincinnati Proc Current
gave favorable report on crop conditions
Tor the past week and there was some re-
newaI of the late financial distur Dances re-
ported from many quarters Dakota mes
sages reported high winds for a few days
past. blowing much of the seed wheat out OF
the ground. This is said TO be so serious IN
some sections that reseeding is necessary.
Heavy realizing marked the last fifteen
minutes of the session. The opening was
lsc higher and receded lsc below yester-
days closing. then became stronger and
prices were advanced a4c. eased OFF a trifie
and the closing was about $50 higher for
July and 20 higher for September than the
| closing figures of yesterday.
Corn started at lsc to 40 advance.
worked back Ac. then under on urgent
demand gradually advanced u to $50.
acting later lac. ruled steadIer. ana closed
| with O gain of l4c 10 Sc. The fact that
the weather was cooler had the effect of
| hardening values. The demand for the
| cash article, said to be due TO the Eu-
bullish factor, and the redu in stocks
| formed another. The Wesre Commission
Company was the leading buyer.
There was q hurry IN oats. due to shorts
| covering on reports of good export buying
| and bad crop conditions. The offerings
were scaDt at first, and prices advanced 10
| to lao. This brought out increased offer
| ings. and caused q reaction of &c to $40.
and the market closed easy, with net
gain of l3 asc.
There was q drive made at the provision
market as soon as it opened. and q drop of
| from $50 TO 55c in pork. from .05o to .07lso
| in lard, and from .10c TO .15c IN ribs oc-
| CURED Immediately. There was lively
swapping up of the offerings and quick
recovery of doc in pork, .10c In ard and
| about .l5c in ribs. The heavy receipts of
hogs Will be the reason assigned for the
opening decline. CudAhy's and Wrights
| buying was the direct cause of the upward
reaction, and some also ascribed to them
the responsibility for tho opening break,
while in other quarters Armour alleged
| to be the cause After recovering the full
extent Of the early decline pork reacted
| loo and closed at that much under yester-
| days final quotation. Lard. which did not
decline proportionstely with pork and ribs
| at the opening. was quicker to recover. ard
maintained its strength and gain OF from
| .05c TO .O1lsc. Ribs. compared with yester-
day. are .02l9o higher.
Freights were firm. with fair demand
| for vessel room at lssc for wheat and las "a
| 1lho for corn To Buffalo Estimated re-
| ceipts for tomorrow IRE: Wheat. $50 cars;
| corn. 450 oars: oats 2l5 cars: hogs, l9,C00
| The leading futures ranged as follows: