The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-01-26
PROVISIONS IN A TANTRUM
Lard Fluctuated Wildly and Leopold
Bloom Got Dreadful Squeezing.
Pork and Ribs Also Cut Some Sensational Ma.
neuyers on This Scale, the Speculative
Crowd Being Largely Responsible.
TRADING AT CHICAGO.

Cereals woefuily Dull, Wheat Closing SEQ
Lower Than Tuesday.
CHICAGO. Jan. 25.-ProvIsions had the
bulge to-day. Grain markets were dull
and declining and the shorts in the pro-
vision pit thought it good time TO cover
short sales. The $4,000 hogs at the yards.
and the prices there being lower, gave the
products q heavy appearance the first
hour This may have induced the shorts
to think they could cover without q furry.
The bulls were mapping. however, and tho
pit became the scene of some lively trading
about midday. There was an advance of
4Oc In May lard in less than ON hour and
the biggest short in the market was badly
squeezed. The price started at Sl1.07la and
dropped to Sill. The big bulge was s11. 40.
Leopold Bloom was reported TO be the
chief buyer. HIS short line was estimated
at 25 900 to 1000 tierces, ana it was said
that after buying all he could on the way up
that there WAS private settlement
with Hateley on ]. 500 tierces at $l1.40. The
covering was done through so many houses
that the aggregate of the business was but
q guess with the trade. Shortly after the
Bloom squeeze eliminated the price OF
May lard was back to SlLl5. Pork being
q more distinctively speculative COM
May sales were at Sl9.05 early, to S19.40
and off to $3.50 at once. May ribs sold
10c Oft to S9.95 early, and made less ad-
vance. going to Sl0.10, owing to sales of
about 5000, 600 pounds by one commission
house during the advance in pork and lard.
Compared with last night. lard at the close
was up 7l5c and pork and ribs each 2l2c.
Wheat is off hc, oats $50 and corn lsc.
Itwas the dullest day In wheat for q long
time. There was nothing stirring In the
w m
almost to stagnation. There was very lit
Ito selling pressure, but such as was offered
could only find purchasers by making con-
cessions. The snowfall In the Southwest
was said to have protected the wheat very
thoroughly, and the fact that the local re-
cclpts were about one hundred cars in ex-
cess of the estimate was also weak factor
Baldwin Farnum sold o considerable line
of May early, but bought about the same
quantity of July. The opening was about
the same as yesterday, then declined hc,
held steadily. and the closing was about
Ac lower than yesterday for May. and asc
lower for July.
Corn at the start was slightly tirmer.
and initial trades were at q fractional ad-
vance, due, in q measure, 10 the fact that
the receipts did not come up to expecta-
tiOns. 261 cars coming In. whereas 335 oars
had been looked for. but the quality was
the contract grades. The strength was of
short duration. as wheat turned down and
corn sympathized. the selling by houses
having Eastern correspondents assistin z
the decline. which was full lec. Prices
later rallied trifle, ruled sreadier and
closed with a trlfie loss.
The offerings of oats at the start were
liberal and the demand limited. Although
the feeling for a time after the opening
was steady. owing to receipts being less
than expected, weakness soon developed.
and prices receded Sc. and the close was
steady at about the inside. with q net loss
OF ls04c.
Estimated receipts for tomorrow are:
Wheat, 225 cars; corn. $50 cars: oats. $50
cars; hogs. $4,000. The leading futures
ranged as follows