The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-05-06
FIRM In SPITE OF A PANIC
Better Tone and Some Advances Made
in all of The Chicago Markets.
Speculative Ruying. Gained Cent. as Did
Corn. Which IsYery Strong Just Now.
TRADING AT CHICAGO.
Hog Products Slightly Higher on Good Blu,
Ing Orders FROM the Country.

Hog Products Slightly Higher Good Buy
Ing Orders from the Country.
CHICAGO. May 5.-NotwithstandinQ the
panicky condition of the New York stock
market everything on Change here had
good support. This state OF affairs was
partly due TO bad weather for the crops
both at homo and abroad. Wheat started
4 0@sc higher and closed about 7sc higher
for July and 1c for September. There was
pretty good buying. and some of the prin-
cipals who were connected with the May
deal were reported as buyers for July and
September deliveries. While the
financial news from New York
unfavorable, operators did not seem
disposed to sell much wheat
on the strength OF ii. and the offerings were
of moderate character. Cables were
higher and the CROP advices in the country
continue unfavorable, creating a somewhat
bullish sentiment There were heavy cold
rains in the Dakotas. and dry weather In
Kansas, while the weather in Europe was
reported as none too favorable. The lot of
100000 bushels which the Cudahys took
from the crowd in the first few minutes
was also a strong lever to assist prices up
75sc touched 754c and 747sc on the early
trades. and advanced straight TO 1870.
There was dip TO 15lac before midday and
a second rally to 7534c later. September
sold at a lsc and 777sc.
In corn another active day was wit
messed, with good general trade. though
prices kept within 1c range. Every thing
considered, the corn market was the strong
est on the floor. 1t Is safe to say that
where the advance was lie it might easily
have been dOuble that but for the panic in
Wall street, which made every body eau
tIous. The receipts were light at 1873 cars.
and Withdrawals were liberal at nearly
500, 600 bushels. The weather over the corn
belt was not favorable FOR blowing or seed
ing. Cold rains prevailed to prevent sea-
soDsble growth where the seed Is in the
ground. AS q result of all this. and be-
cause of remarkable shipping demand.
cash corn was strong and higher. The
best prices of the day were made near the
close. July rose to 44l2c. and September to
1880. Closing prices were at the highest
point of the day. July 45isc and September
46as @.
Another active session was experienced
by traders In oats, that market ruling
stronger with the other cereals aud closing
at from y to 10 higher.
Hog products were slightly higher early,
on improved prices. and active buying of
live hogs ut the yards and some covering
by those who sold short yesterday. The
offerings were little in excess of the
wants of the crowd. however. and the mar
ket eased off some. only to become firmer
again on good buying orders For pork
the opening sales were 90 higher, the
market improving 17l5c on orders to buy.
and strong grain markets and then deciIn-
ing to the opening price of the day and
closing steady. Changes were made from
May to September at 75c premium for the
latter Lard was rather dull. The market
opened .05o better and improved .07i9c:
then declined .10c. but reacted and closed
| Csc above yesterday. Ribs were quiet bnt
strong. The opening was loo higher. de-
ciined .O5c. advanced .12l9c, fell OFT .05 and
closed steady.
Estimated receipts for tomorrow are:
Wheat. 235 cars; corn, 145 cars; oats, leo
cars; hogs. 5000. The leading futures ranged
as follows: