The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-05-16
WHEATHAS NOT RECOVERED
Small Decrease in the Visible and Bet
ter Cable News Forced a Decline.
The May Future Went off 7-S0lc and Septem.
Der Fell3-4c, Corn Meanwhile Holding Firm
and Advancing lac for September.
TRADING AT CHICAGO.


Pork Remained Dull but Firm on Heavy
Receipts Of Hogs.
CHICAGO. May ia disappointingly
small decrease in the visible supply of
wheat. financial disturbance at Mime
apolis and. toward the close, reported
rains In France. worked against the bulls
to-day. Inc market closed with a loss for
the day Of sc. Corn was firm and gained
lsc for July and &c tor September. The
provision market was dull and narrow.
without any striking change In value at
the close.
Wheat opened with q decided drop, due
to easier cables, large increase in the
amount on ocean passage. heavy shipments
last week from India. reported embArrass-
ment of the big trust company In Minne-
appolis and rumors that there were runs
there on several banks. 1t was also in
ferred that the financial furry in the East
was not yet at an end and stocks were
again considerably demoralized. Lynn
was q free seller from the start and was
soon joined by Cudahy's brokers, who sold
heavily. while KENNETH Hopkins. Logan 81
Co. and Schwartz-Dup were ell free
sellers. On the break Partridge was
o heavy buyer. and it was q part of the
current gossip that he had got in about the
last of his short line. paying a handsome
profit. Aside from Partridge there was
generous buying on the decline. Crop
ne showed no Improvement Prime tele-
graphed nat on the whole the American
wheat crop was In poorer condition than @
week ago. while some cables reported the
drouth still prevailing in England. while
the weather IN France was threatening.
There was quite q reaction. but the visible
supply report was a great disappointment
TO the friends of wheat. as they were ex-
pecting nearly 1000. 600 bushels decrease.
and there was free selling when the small
decrease was known: Cable advices from
Paris also said IL was raining In France.
and crop prospects were better. with bids
for wheat withdrawn. Closing continent
al cables were lower. The opening was
about 90 80 lower. and with some nnctu-
atoms declined ss0Ao more. then rallied
40 so. again eased OFT 1c. and the closing
lower for September than the closing fg-
ures Saturday.
Corn received only moderate attention.
price changes being narrow. and most Of
the business confined TO local traders.
Oats were active and easier. due TO the
weakness In wheat and the free selling Of
May by a leading shipping house. also to
the increase of 2S6.U00 bushels In the VS.
bile supply. Prices opened s0Ac lower.
and receded IS @ for May and "a lc on the
other months. After a moderate rally
prices again yielded. and the close was
easy at about the inside.
Provisions were dull. but steady to firm.
following a weak opening. The receipts OF
hogs were heavy, amounting to y. 900 head.
and prices were quoted from l00lbc lower.
1t was difficult TO execute orders at the
nomina market price. An attempt TO buy
even a moderate quantity OF eithsr pork.
lard or ribs always advanced the price
above the previous quotation, and it was
correspondingly lowered by the execution
OF a selling order.
FreiRhts were slower. and tho lines TAX
Ing the business at 9lec for corn and 6E o
for oats to New Englsnd. Local rates TO
Buffalo were 12c. Estimated receipts for
tomorrow are: Wheat $50 cars; corn. $50
cars; oats. 400 cars: hogs. 20. 000. The lead
ing futures ranged as follows: