The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-07-14
PRICE OF PARADOX
Crop Prospects Smallest in Years with
Price the Lowest Since 1851.
Selling and Cool Weather in the North
west Games Decline Below Wednesday.
TRADING AT CHICAGO.

Corn RuIed Stronger, but Trade In Pro-
visions Was Light aud Pork Fell 15c.
CHICAGO. July 13-To-dsy's closin z
cables gave news of the advance at
Paris and Berlin. and steadiness elsewhere.
with q revival of the feeling that wheat
was unduly pressed from legitimate causes.
This caused rha market here to leave off
firm. though final prices were Is lower
than yesterday. 1t was being pointed out
that the crop prospects are the smallest,
with one exception. since 1877. The export
demand is said TO be the heaviest on record,
with one exception. and the price the low
est, since the panic of 1851. Wheat started
a shade better on the ronge Liverpool
cables and q general bull feeling growing
ont of crop damage rumors. bnt the de-
mand was soon satisfied. Offerings were
generous, trade slow, and when the cool
weather was reported in tho Northwest.
quieting to q considerable extent. the ap-
prehensions of hot winds In that region,
the feeling became decidedly heavy and
prices went OFT. The Cincinnati Price Cur
rents crop summary was far from favor.
able concerning wheat. but this. for a time,
did not appear to have any influence.
Ouuauy ana omSoy-Cl1nulo were TIC
principal sellers. The market opened at
BO4o advance. declined lac. improved
siiEhtly, held steady. and the closing was
4@Sc lower than yesterday for Septem-
Der. and $50 lower for December. A report
that the officials of three leading railroads
covering the Northwest had con- spared IN
formation and figured out but sixty mil
lion bushels. mostly inferior wheat, for
Minnesota and the DakOtas was not gen.
orally believed. but was used as a bull
-.sn nan~ thu nlDan ThA Rnnaa n -
s~ertions earlier had helped the bears by
weakening Wall street quotations. and
thus indirectly affecting wheat.
In corn irst trades were az q tribe all
vance. the price selling up $50 and Ao more
soon afterward. The dry weather map and
fear that If rain does not como soon there
will DO damage by drOuth and hot winds
in parts of Kansas and Nebraska. acted as
q %strengthing factor and helped sustain the
price. At the uptnrn the offerings became
heavier, the receipts coming IN larger and
wheat turning down.. the market sold OH
A0asc. ruled stronger and at the close was
k0 sc higher.
Oats were weaker. especially July. which
was sold freely by parties who have been
the leading buyers of late. and there being
less than the usual support. prices receded
10 from tte opening aud closed at q net
loss of &c. The new crop futures declined
$50 for September early. but reacted Ao
and closed steady.
Trade in provisions was light. but prices
were firm. The hog market had improved
on smaller receipts. Lard and ribs COM
manded some better attention. but pork
was bOyootted. Compared with yester.
days cl0sin g,prices lard is from loo to .121so
higher and ribs advanced JOG. Pork is loo
lower.
The offerings of vessel room were not
large and tho demand moderate. Rates re-
main unchanged at 10 for wheat and corn
to Buffalo. Estimated receipts for tO-mor-
row are: Wheat. 90 cars; corn. 435; oats.
160; hogs. 10000. The leading futures
ranged as follows: