The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-03-23
MAY WHEAT CORNER SHAKY
Belief that the BIG Chicago Clique Is
Trying to Unload It's Holdings.
Damage TO the Home Crop Acknowledged from
Many Points. but it Was Offset by Collapse
of the Kansas DRY Spell' Scare.
TRADING AT CHICAGO.

Provisions Fluctuated Easily, Finally Clos
ing mt Bottom Prices.
CHICAGO. March 22.-There Is a great
restriction of trade IN wheat on account of
the fear that the load of the bull clique Is
becoming heavy and unmanageable. Bust
ness to-day was light from the outside and
not heavy even among the local traders.
The price was lac lower at the start. but
recovered i4c of tine early loss. Corn was
stagnsnt and unchanged. Provisions were
lively aud irregular. with victory perching
on the shoulders of the bears in the end.
The reports coming to hand concerning
the winter wheat were somewhat varied,
but generally speaking. damage was
acknow lodged from many points. Europe,
where every thing MP to date was bright re-
garding their wheat prospects, reversed
the picture to-day and noted a failure of q
portion of the Algerian crop and injury to
that of Spain and Hungary. General rains
were reported In the wheat belt. with mild
weather and growing probability that
the serious drought iii Kansas would be
broken and crop prospects materially inn
proved. Geddes. Mills. Parker and Boyden.
supposed to be acting in the int rest of the
clique. came into the pit and took May
freely for time. causing some reaction.
which. however. was only temporary.
Linn was q generous seller of May. and
bought puts last night of Partridge on one
million bushels at 75l9c. These free
and extensive operations on the
part of this usually conservative
operator led TO rumor that he was help
ing the clique to unload its big line of May.
There was a rumOr that some No. red
winter was being shipped from Detroit TO
Chicago by rail. but 1t could not be traced
10 any reliable source. The opening was
from Is TO "a C lower for May and sc lower
for July than the closing figures of yester-
day, ruled trifie stronger and the
market fluctuated within sc. closing easier.
The probable collapse of the Kansas dry
spelP' was partly offset by reports OF Hoods
in California. and dispatches from Mis-
sour points saving the crop outlook Is the
worst since 1885. Bradstreets available
stock showed less than one-fourth the de-
crease looked for.
Corn operators were disposed to inter
pret the rain as meaning smaller receipts.
owing to bad country roads. with bly,
poor grading. hence they bought. Fur
chases by those friendly to higher prices
caused about q Q advance. but this support
was soon withdrawn. and the market
sagged to about old prices.
There was light trade In oats. mostly
In the way of chan ing from the near to
the distant futures. weaker feeling pre-
vailed and the close was at q net decline
of ls0Ac.
Hog products opened weaker and lower
on increased receipts of live hogs and the
execution of batch of selling orders by
commission houses. The shorts bought
quite freely, and as soon as the offerings
we're takon the market advanced to top
prices. but the volume of trading was light
and the undertone weak. The improve
ment. under raiding by Wright and Bald
win, was of brief duration. the market
nj hal ha hnft Of ha
day. and closing weak. The decline from
last night varied from .05c to SOC.
Estimated receipts for Tomorrow are:
Wheat. 140 cars; corn, 40 care; oats, LAT
cars; hogs. $4,000. The leading futures
ranged as follows: