The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-01-21
PARTRIDGE WAS SQUEEZED
The Fearless Chicago Bear Falls in
Trap Nicely Baited by HisEuemies.
After He Had Bought Everything in Sight the
Props We're Kicked Out and Wheat Went
on Another Slump, Closing Sac Lower.
TRADING AT CHICAGO.
Corn, Oats and Pork Products All Make
Substantial Gains.

Corn, Oats and Pork Products All Make
Substantia Gains.
CHICAGO, Jan. 2O.-Wheat to-day sold
sc under the high point of last week. and
though it rallied somewhat it closed $40
lower than last night. The firmness in
other articles was In marked contrast.
Corn closed with gain of asc; oats, lie;
pork, CSC; lard. .7lsc; ribs .22iec. The best
wheat buyer early in the session was Pard-
ridge. and for o time he took about all that
was offered and held the market. But
cables came in easier. the selling became
liberal and Partridge signally drew out.
The market. deprived of such support, be-
came heavy and went off about &c.
Liquidation By the belated longs
and the closing out of trades
through exhaustion of margins was still
going on, and there was not much demand.
Tho movements of Cudahy's brokers were
watched very closely. but no evidence
could be obtained that the big SPECTATOR
was buying any wheat. During the last
hour the market gave some indications or
strength. on free buying by scalpers and
covering by shorts. The opening was
about l9Osso lower than yesterday. but
became firm and prices were advanced $50.
then ruled weaker again and declined 1c,
advanced Irregularly Sac. then ruled stead
Ter, and the closing was about sc lower for
May than yesterday. The July future
ruled somewhat independent of the May
delivery. and. while prices were
24c lower at one time than yes
terday's closing. they also went $50
higher. and the closing was only
about lsc lower than yesterday. The real
izing was chiefly for May delivery; while
the buying was principally for July. In
corn there was rather more interest dis
played, the market ruling quite active at
times, but fluctuations kept within &c
range. The sentiment developed was
stronger. and higher prices were scored.
but tho full advance was not maintained,
though the market at the close had gained
IS 90 1ac. The improved tone was due largely
to the liberal purchases by prominent COM
mission houses and to better support by
the provision interest that was also cred
tied with increasing holdings. Local ROOM
traders and u party who has sold freely of
late supplied the demand. Cars contracted
for t.. morrow chow material increase at
500 oars, which, under ordinary circum-
stances. would have weakened the market.
The spot corn situation st the sea- board
was regarded remarkably strong. A
better export demand was reported with
much of the present stocks at New York
owned by exporters or consumers, and lt-
tie In transit. Ocean freigIts being cheap
favor tho export movement
There was fair trading IN oats and q
steadier feeling. but prices were confined
to "a range.
Tho Price Current comment on corn and
hogs W as inclined to make the trade more
bullish. Early in the day there was buy
ing of ribs and lard by Cudahy and Role
son. Shorts were nervous and covering in
all products Fairbanks brokers sold lard,
keeping prices for that article relatively
backward. leading broker expressed
the belief that by buying 10000 barrels of
pork in sensational way the price might
have been run close up to $40 III little
time, but he refraIned from putting his be-
lief to practical test. On final bulge all
products went to the highest prices for the
day at the CLOSE.
Estimated receipts for tomorrow are
Wheat. $50 cars corn. 800 cars; oass. 1s3
cars; hogs. 10000. The leading futures
ranged as follows: