The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1893-03-08
DISC0URAGING DAY IN WHEAT.
The Advance in Money Rates Partly
Responsible.
IsDIAxAPoLis. ISD..

MONDAY EVENING. March 6.
J. E. Berry & Co.'S Chicago advices are as
follows:
Markets today have been very quiet all
around; scarcsly any change. it is noted. 10
prices abroad. What little outside trade there
was has been of a scalping nature. The feeling
a little bearish a, the opening and the
market became weak. some good buying
around re against privileges caused a reaction
to about opening prices, when the striugency
in the money market caused rather a weak feel
ing again. 1t seems that when money becomes
q little tight everybody seems to think they
want some. and those who have il want to keep
it. We have often advised our customers Of
the unreliabiity of Primes crop reports IL is
not likely they will require any further caution
regarding his statements when they read his
letter thiA morning. reporting frost all out OF
the grount IN Kansas, growth Ot wheat strong
ana healthy when the weather map shows tenn
peratGres from 10 above down to zero through
out the entire West.
Corn was strong, owing 10 liberal buying by
receivers and spectators. Feeling. however,
is still quite bsarish. and with the decline in
wheat il eased Off also toward the close.
Speculation in hog produc; was light. Pork
was decidedly lower. Lard and ribs were not
strong, aud the demand for cash PRODUCTS
CHICAGO. March G.-There we're many dis.
courAginz features in the days news TO
holders OF wheat. Money at 50 per cent in
New York and talk of a strike among the
railway swiichmen Of Chicago were, perhaps,
the most depressing items. The market
opened weak and closed weaker, Mt a decline
of so since Saturday. Corn ruled firm and
closed shade higher than at the end OF the
previous week. Provisions were Irregular over
Ia hark IN. fla moi "a u
Rud at no time did prices rise to the level OF
Saturdays closing figures. Pork is OF SOC,
lard loo and T,bs loo. Wheat at the opening
was &C lower than the closing figures OF last
Saturday, and after small fluctuations prices
further declined Ic for Nay and 20 for
July, ruled quiet, and the closing was
about 1lSc lower for May and sc for July than
Saturday. The weather milder and the
visibly supply did not show the expected de-
crease which was disappointment TO the
trade and accountable in a large part OF the
sagging OF OF prices. Ii WAS expected by
some that the visible supply would show 81
least !, 0O0,0O0 bushel decrease. but when 10 was
quite evident that the decrease would
be less than half that, there an
inclination 10 sell. The market seemed TO re
ceive some support sround the lower prices
reached. None OF the most prominent traders
were credited with dcing much today. There
we're some crop damage received from Indians
| Illinois and Missouri, while the crop IN Kan
sas aud Texas was reported in good condition
IL was rumored thst the state report OF
N ssouri would show the condition 10 be about
60 per cent, but there was no confirmation.
In the absence of decisive influences, pro
fessional operators showed a disposition TO &C
cOnseTvstively in the corn PIT, pending tht
publication OF tbs government supply repor
this week. I've or three houses covered short
lines aud there was some trade believed to bt
investment buying with relatively little corn TO
Eaie, and an absence OF pronounced bearshues
ia the movement OF the crowd, local shorts
preferred TO cover their lines, anu tht
price was advanced 1[@5so after the open
| ing until 4ic was reached. which called out
! few sci ers There was mild talk OF better
| export inquiry but C!earanccs did not show
| any improvement. and cables were steady q
| firm. There was q fair trade in oats and
stronger feeling early due largely 20 the al
| vance in corn. A feature was the increased
! business in the deferred Injuries and Ssptsmbe
| was quite freely traded IN for the first time thi
season. 1t Was sold by carriers, who sold jun
and July a hedge at premium. The clos
was about the bottom with fractional loss
| There only moderate activity in the pro
vision market.
The leading features ranged as follows: