The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1893-04-12
SHORTS DO REJOICE
At the Decline in July Wheat and
Provisions.


CHICAGO, April 10.-The majority of
the board of trade shorts had reason for
rejoicing at the close OF today's market.
July wheat was &c lower, corn was oil &c,
oats &c aud there were material declines
in pork. lard and ribs. The exception
was in the case of those short of May
wheat. That particular delivery closed
1Sc higher than it did on Saturday. The
clique were not sellers Of May wheat they
merely teased the shorts and it has now
become with the latter a question of
ability Of put up margins. That ability
will apparently be severely tested in the
next two weeks.
A bulge of pc was witnessed in May
wheat. Partridge seemed to be the lead
ing buyer. and had half dozen brokers
in the pit taking all they could get, while
the small fry was also buying freely with
little for SALE The clique has so far done
nothing. IL is generally admitted, how
ever, that 1t holds the winning cards, and
has only to refuse TO sell to put prices
much higher. The point was out Satur-
day that May would go to Soc today, and
IL has been dangerously near that figure,
already having sold at size 10 SIC. 1t has
great possibi tiles. apparently, and many
would be surprised if it should not 90 to
81 before the close OF the week. In July
there was less business and very little ex-
element. with prices ruling weaker than
on Saturday. This was due to the fact
that general rains were reported through
out Kansas. Missouri. Nebraska and
southern Illinois. As the bull feeling
had been built up on the dry weather
in these districts the reported rains re-
lieved the situation. But advIces on this
score were very contradictory. The
weather map did not show them and
many doubted their existence. Cables
were higher. The Michigan crop report
was bad one, and the visible supply de-
creased $50 900 bushels, but the amount
on ocean passage showed an increase of
] 100000 bushels The expected issue of
the government crop report was a restrs ain
ing influence. The scalpers and smaller
traders were generally DESTROYS OF straight
ening up their trades in view of the more
than usual uncertainty, resulting from the
fact that, this was the first government
report since Mr.. Dodge's decapitatiOn.
May opened lie higher and with only
slight fluctuations advanced 2(G2tc more.
held iaIrly steady and the closing was
la &c higher than Saturday. Some pri-
vate settlements, il was claimed. were
made at better prices than quotations
show on the open market The July iu-
ture opened 4(a &c lower, become stronger
and advanced &c, but again weakened off
t(glc, ruled easy and closed. sCtlc lover
than Saturday. A good deal of evening
up was INDUCED in by corn traders,
longs" selling and shorts covering. :
prominent local trader was credited with
purchases OF Nav TO the extent of 200 600
bushels. and a large receiving and elevs-
tor concern WAS supposed tohave disposed
OF a like amount Initial trading were
a trile under the clo-inR quotations of sat
urday. but IL WAS not long under; quite a
brisk demand before an advance of ic
took place. Market aiterWard ruled easy,
with wheat closing with a slight loss.
There was liberal trRde in oats and
weaker feeling. prices declining and clos
ing easy at about he inside figures. with a
net loss of s6 5c. There was good selling
of May by shipping houses. Their offer
ings. combined with the weakness in corn,
had a depressing effect. Tie scsIpers had
a merry time provisions early, but came
near their own destruction later. They
started in on the easier opening to bull
the market. Prices were advanced 100
l5c from first figures all around. Then
the pit got dull. When the scalpers tried
to sell out no one wanted the stuff. The
market QUICKLY broke be ow the point
where the buying began, On the break
the country became sellers on the stop
orders. Then there wac a race 10 get out
OF the stuff Pork lard and ribs all vert
down together the last hour. The break
from top figures was soc in pork. Soc in
ard and 25c in short ribs-a very unex-
pected ending of the little bull market of
the first hour With the exception OF a
very little rally in July ribs. products
closed at the bottom prices for the season.
Estimated receipts for tomorrow were not
made mp today. The parties compiling
them, il ia said. have not received suf-
fcient remuneration from the trade. who
refuse TO share in the cost of collecting the
figures.
The leading futures rang, d as follows:
Articles. q ming. II Rhs,t. lowest COsine