The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-04-18
MAY WHEAT TOUCHES 75C
Drop of 15e 10 Less than a Week Due
Solely 10 Action of the Clique.
Some Evidence that the May Corner Has Been
Abandoned for GOod-Covering by Shorts
Leads to Firmness in the Corn Pit.
TRADING AT CHICAGO.

Provisions Are slow and Weak, with Declines
I'm All Articles.
CHICAGO, April IA slump of Sic in
May wheat to-day caused many to believe
that the shorts have nearly all been driven
In. the rumors of big settlements which
were SO thick at the time of the great ex-
element. but which were so vigorously
denied. were no doubt well-founded. for
the clique seems to have abandoned the
deal for the moment at least and sold
heavily. both of May and July. Later,
when the decrease of nearly 1.2OO.OOO
bushels In the visible supply was known,
prices recovered some. Notwithstanding
appearances a number of people contend
the action of the clique to-day was only q
ruse to induce further short selling and
work another squeeze. Corn was firm on
covering by shorts and closed at an i'm
provement of from lsc in the May future
10 $50 for July and September. Provisions
are slow, with declines of from THO to
27lsc in pork; .15c to lilac in lard. and
from .17ko to zoe in ribs.
The opening for May wheat was about
19c lower and prices declined SC more.
rallied &c. receded some, and the
closing was about 112c lower than Satur-
the closing figures of Saturday. ruled weak
and prices declined with only slight tluctu-
atoms $40. rallied 13c. f1uctuated slightly
and the closing was about ESQ lower than
Saturday. There was some short selling
reported. The cables were rather unfavor-
able tor holders, Liverpool being quoted
dull and lower and London carg0es very
weak. The liberal receipts estimated for
tomorrow were a weakening factor.
Corn at the opening was a fraction under
the final quotations of Saturday and sold
of kc under the moderate offerings by the
local crowd in general, due entirely to the
decline in wheat. The demand improved
later aud the visible coming In with
a decrease of 100000 bushels. started the
early sellers TO buy. resulting In an adj
vance of vale. Realizing carried the
price back l9c and closed with O net gain or
ls@4c. The sailing OF a part of the q
Feet with indications or all the boats 90
ing ont this week seemed TO act as q bull
ish factor. There was a good deal of May
covered to-day and putting out of July.
There was a good trade in oats. and q
stronge feeling on the whole. The OPEN
ing was at ls04c decline for the near
and q trif1e advance for the distant futures.
After a decline of lsc. the good buying by
shorts absorbed the offerings so readily that
prices advanced as@4c. A recession of
s04c followed. and the close was steady.
The visible supply decrease helped the up
ward movement.
Offerings OF provisions were moderately
free and the demand from all sources lin
tied. The receipts of hogs were consider.
able in excess of the estimates. and had o
depressing effect on the market generally.
There was q slight reaction from bottom
figures. but IL was nearly all lost again.
Estimated receipts for tomorrow: Wheat.
$50 cars: corn, 230 cars; oats. 300 cars; hogs.
$4,000. The loading futures ranged as fol-
lows: