The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-05-05
CHICAGO MARKETS STEADY
Financial Troubles in Wall Street
Caused Western Traders to Go Slow.
While the News Was Bulish, Prices Remained
Steady, and Values We're Not Advanced as
they Ordinarily Would Have Been.
TRADING AT CHICAGO.

Wheat, Corn and Oats Made Small Gains,
While Pork Advanced Doe.
CHICAGO, May 4.-Operators in wheat
on the board to-day were inclined to be
conservative in view of the panicky con-
quencs was that prices remained rather
steady, and values were not as much ad.
vanced as the bullIsh nature of the situa-
ton would have warranted under ordinary
circumstances The news from abroad was
unpromising for the crops there. Russia
was praying for better weather and France
was reported still suffering from the IN
broken drought. The weather In this coun.
try continued TO be bad for the winter
wheat and unfavOrable for seeding in the
Northwest. The Cincinnati Price Current
gave confirmation to tho numerous private
reports which have been coming to hand
of the retrograding condition of
winter wheat. The market opened
unchanged and exhibited Aesitating
tone for time, then became tirm and
with very slight reactions. advanced sc.
Meantime reports of the tnnl bling OF stock
values ana the failures in Wall Btreet be-
gan TO be felt, and when Walker Il Co. and
other houses sold out for account of Henry
Allen ~ Co., the broken New ork brokers,
q line of LOCO, 900 bushels or more of wheat,
there reaction of l2c, though the Of
ferings were quite readily absorbed aud the
market turned strong again as soon as the
pressure was removed. The recovery was
assisted by frmer and higher closing
cables. both from the United Kingdom and
the continent, the strength being held to
the close. July opened unchanged at 74l3c.
advanced to 75lsc, reacted to about the
opening figures. advanced again and closed
steady at 747sc. q gain for the day of 49,.
-t-Yxr
strong. May. which closed yesterday at
42l9c. and July, which closed at 444c,
opened at 1880 and also. respectively.
May worked upward gradually until IL
The weather was generally unfavor.
able for planting. and receipts were light.
Tho rly buying on existing legitimate
conditions was offset in q great measure by
selling out of about 200 900 bu by Walker
N Co. for II. Allen & Co.. and also SELLING
for many other New York houses whose
customers were in Iced of what money
they had invested in corn to protect their
stock interests. The stuff was taken with
ont any considerable reaction, and the
market closed with May only sc below the
top. with gain of lac compared with yes.
terday's close.
Oats were active and strong again, prin-
cipally because Of the heavy shipping OF
were buying freely. MAY closed lac from
the best figure of the day. with gain of
fully lie compared with yesterday's CLOSE.
July gained TO- closing &c below the top.
The provision market was firm. although
decline of from Sc to loo was reported for
hogs at the yards. The offerings were light
snd it took only q moderate amount OF
buying by one or two of the leaders to bring
the local scslping crowd around TO the
Same side of the market Wright bid for
and took some September pork and brokers
for CudahY were good buyers OF ribs The
lower hog market caused opening prices 10
show some decline from yesterdays closin g
quotations. but the first trades were at the
lowest prices OF the day. September pork
closed SO from the highest and shows O
gain, compared with yesterdays last fig
nres of zoe. September lard is 100 up, and
September ribs .17lac
Estimated receipts for tomorrow are:
Wheat, 30 cars: corn. 175 cars: oats. 10
cars; hogs. 5000. The leading futures
ranged as follows: