The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-03-14
GRAIN AND PORK FELL OFF
The Chicago Clique Thought to BE AnX-
iOus to Keep Off Buyers of May.
Slight Rally on a Brisk Demand Caused by
Reported Crop Damage in Central States,
but the Gain Was Not Held.
TRADING AT CHICAGO.
Wheat Declined u Cent, and Barreled Por
Lost 20 LIZ Cents.

Wheat Declined u Cent, and Barreled Pork
Lost 81 lie Cents.
CHICAGO. March 13.-The manipulators
stood from under. to-day, and grain prices
moved down. Wheat went OF q cent from
top prices. and. compared with Saturday
night, il is Sc lower for May and $50 lower
for July. Corn and oats, &c, pork 27l9c.
and lard SOC lower for May. Ribs gained
.02ac. The receipt of numerous reports of
crop damage from large sections of Indi-
ana. Illinois. Missouri and Kansas caused
some demand for July wheat. The buying
was LED by what are called clique houses,
and Bennett, who was supposed to be act
ing for the clique, was selling May at the
same time. If the action referred to is to
be taken as representing the policy of the
~manipulators. it would seem to indicate
that they prefer in the meantime to re-
strain the crowd in the buying of May,
possibly in the hope that further confirma-
tion of the crop damage would exalt
the present position of May wheat
to the level of legitimate values.
There was an increase of Is. ZOO bushels In
the visible supply against a decrease on
the corresponding week a year ago of 73S.-
55S bushels. 1t was after the posting of the
latter result that wheat dropped to the
lowest figure. The decline was not in con-
sequence OF the visible supply statement,
however, which was about as had been eX-
pected. The selling OF some May wheat by
Counselman-Day started the break and
that was adopted as the possible liGuida-
tion of some more clique wheat. Baldwin
farnum jumped on the market for
Partridge at the same time and the crowd
sailed with the tide. The Armour Com
pany was also O free seller OF May wheat.
The opening was IA "a $50 higher for May,
partly on cold wave talk. but quickly re-
ceded with only slight fluctuations, 20 for
May. recovered $50. again eased OFT and the
closing was at the lowest quotation OF the
day.
Corn was steady and firm early. but later
became weak and declined nearly lac, in
fuenced largely by the weakness in wheat
and provisions and the increase in the visi-
BILE supply. The opinion was maintained
by many that the short interests had been
pretty well eliminated in the last week or
ton days. and the market was in a waiting
attitude. Those believing that prices are
high enough pointed to tins fact that the
local stock. including coyI loaded into ves-
sells. ia greater by $500 bushels than a
week ago. In spite OF the small character OF
the daily receipts.
Oats followed the ups and downs OF the
corn market. Business was light.
Hog products were fairly active, but de-
cidedly weak AND lower. The hog receipts
were Il 900 head where 17,0O0 had been
looked for. Wright raided the market for
pork and sent prices Oft. Then Ream and
others bought AND turned the market. but
the gain was not held. There was raiding
of May lard by CrIttenden. At the low
point Beasely sold Hately 1000 ~tierces.
Estimated receipts for tomorrow are:
Wheat. 270 cars; corn. 100 cars; oats. 142
cars; hogs. $1,000. The leading futures
ran ged a. follows: