The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1893-05-17
A LOSS IN WHEAT.
Due TO Financial Disturbance and
Crop News.

CHICAGO. May ia disappointingly
small decrease in the visible supply of wheat
financial disturbance at Minneapolis and to-
ward the close reported rains in France, worked
against the bulls today IN wheat The market
closed with loss for the day of 30. Corn
WAS firm and gained 20 for July and 10 for
September. The provision market was dull
aud narrow without any striking change in
value at the close. Wheat opened with q de-
cidedly downward drop due TO the easier
cables, the large Increase in the amount
ocean passage, the heavy shipments last week
from India. the reported embarrassment of the
big trust company in Minneapolis
there several banks. IL was also
inferred that the financial furry in
the East was not Jet at an end and stocks were
again considerably demoralized. Lynn was a
free seller from the start and was soon joined
by Cudahy's brokers. who sold heavily, while
Kenneth Hopkins, Logan x Co., aud Schwartz
Dupee were all free sellers. On the break
Partridge was "a heavy buyer. and it was part
OF the current gossip that he had got IN about
the last OF his short line, paying a handsome
profit. Aside from Partridge there was gen.
erous buying on the decline, crop news show
ing an improvement Prime telegraphed that
on the whole the American winter wheat crop
was in poorer condition than week ago,
while some cables reported the drouth
still prevailing in England while the weather
In France was threatening. There was quite a
reaction. but the visible supply report a
great disappointment to the friends of wheat.
rs they were expecting nearly 2 1000 600 bushels
decrease, and there was free selling when the
small decrease was known. Gable advioes
from Paris also said il was raining in France
and crop prospects better, with bids for wheat
Withdrawn. Closing continental cables were
lower The opening was about 14625o lower
than yesterday and with some fluctuations de-
olined 5s(GAc more, then rallied A(dHc again,
eased of 1c and the closing was abouE solo
lower for July and 80 lower for September
than the closing figures Saturday. Corn re-
ceIyed only moderate attention, price changes
being marrow and most of tbs business was
confined 10 local ltraders. The trade
on the start was inclined 10 be easy.
influenced 10 some degree by the rainy
weather and favorable news regarding plant
ing in the West Opening trades a
slight decline and soon afterward sold of
fraction more. when the demand became more
urgent. especially for May, on the liberal do
crease IN the visible and the price worked 80,
but closed with trfe gain. Oats were active
and easier, due 10 the weakness in wheat and
the free selling OF May by leading shipping
house; also to the increase of 236eO0 bushels
In the visible supply. Price opened ls(S4e
lower and receded SO for May and 5seg1%c on
the other months. After q moderate rally
prices again yielded and the close was easy
about the inside. Provisions were dull. but
steady 20 firm. following weak opening.
The receipts of hogs were hesvy. amounting 10
. O00 head and prices quoted from Ice
10 l5c lower. IL difficult to execute orders
at the nominal market price. An attempt 10
buy even n moderate quantity OF either pork.
lard or RIBS always advanced the previous
quotation and 1t was correspondingly lowered
by the execution OF a selling order.
Freights were slower and the lines taking
the business at 91ao for corn ana 81 G for oats
TO New England. Local rates to Buffalo were
12e Tor oats.
Estimated receipts for tomorrow: Wheat,
250 cars; corn. so cars; oats 400 cars: hogs,
20 OOO.
The lesdinR futures ranged as follows: