The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1894-04-18
MARKET REPORTS.

CHICAGO, April 16.-Wheat opened
weak and closed strong today with
gain Of &c foi May. Favorable crops
reports caused the early weakness and
reports of crop damage the later
strength. A liberal decrease in the visi-
HE supply also aided in The recovery.
Corn was firm and gained &c. Provisions
were very strong and closed at the tcp
of SOC advance in pork
Wheat got weak start from the bear
ish nature of the early news. Foreign
advices were to the effect that showers
prevailed in England. and private DIS
patch from Strasooursy Germany, said
that heavy rains were general there and
that crop prospects which before were
good still remained so. Some more rain
had fallen in Kansas, and of all the
planks in the dry weather platform Of
the recent short bull campaign the
drought in California alone renamed.
Even that was jumped upon Inis morn
ing, a dispatch from New York received
here about the opening reporting rain in
northern California. There was no con-
firmation of the latter rUmor, but being
in line with the general tendency of the
other news it helped TO increase the
bearish feeling. Gables gave no sup
port to the market. The amount of
wheat on passage had increased $4,000
bushels and India appeared to have
shipped more literally than of late, Beer
bohm's giving $4,000 bushels as India's
contribution TO the quantity put afioat.
Receipts in the northwest were again
liberal. All those matters put together
caused a decline in price here of 1c per
bushels in twenty minutes compared
Cln no huS
| done during the decline was not very
heavy, and after the decline trading be-
came quite slack but with indications
OF returning confidence among holders.
May opened with sellers at $3.50 as
against 60l4c at the close on Saturday
Buyers at $3.50 were extremely scarce.
but there were few. In the next two
| seconds there was some business done
at 5912c, followed by a rally TO $3.50. and
then by decline to 59Lc July. which
closed on Saturday worth only 19s01$4c
more than May, improved to a premium
of from 13sm2c in the first half hour.
The first July trades were al slice
against &c on Saturday. the decline Of 1c
in May carried July off to 61Hc. The
export clearances from the four princi-
pal Atlantic ports amounts TO about 230. 900
bushels in wheat and -four. The decrease
in the visible was .545. 900 bushels. where
as some had looked for small increase,
and no one had predicted a possibility
of over 100000 bushels decrease. The
sentiment of the crowd underwent a
complete change on account of the con-
siderable decrease, and an advance to
601s a6014c for May and to 6t7sc for July
was the work of very few minutes.
There was a reaction in May to 5934 C.
but sellers did not offer much. The trade
continued light with rather feverish
feeling prevailing however, and not
much buying was required TO put May
UP again TO 60LC. Closing ca bleS came
very weak and caused another spell of
comparative heaviness here. Nay drop
ping again to 59%c After the lac decline
which followed the report of the weak
closing cables there were some more
narrowing drought dispatches from Cal
ifornia, which started the crowd TO
buying again, and the market went
higher than before and closed 6O1zc for
May.
The corn market was firm after a mo-
mentary fit of weakness at the opening.
There was no change of moment in
previously existing conditions to account
for the strength unless the greater buy
ing disposition of foreign houses at New
York be accepted as warranting more
hrmness here. The visible supply de-
| creases 1863. 900 bushels against 1.109.0 900
bushels on the similar week a year ago.
and the publication of that fact was
the cause of some occasion of strength
in the middle of the session. The firm
of Barlett-Frazier took a good deal of
corn during the day in soft spots. The
business done was not heavy. May
opened at 3S3sc as against 3S12c on Sat
urday 1t Immediately began to i'm
prove and reached 3S5sc. The market
was at its best, as business was coming
to end for the day and May closed
| at 3S%c and July at 3S7sc or Ac higher
since Saturday.
Larger receipts and the fine weather
sufIiced to cause a heavy feeling in the
oats market. Opening values were at one
time 15c under Saturdays last quota
tions. but at noon had gained Ac over
the opening quotation. The business
transacted was very light. May started
at 32c, sold at 317sc and rallied to 32Ac.
The market showed a still more steady
feeling a the close and prices rested
where they did on Saturday. May sold
at $3.50, and at the end that price was
bid.
Provisions opened with a bounce of
from 15c to 2Oc over Saturdays closing
| rates for pork. 71zc and 10c over for
lard and from &c to 10c higher for ribs.
That was only the beginning TO a very
strong market, which remained of that
complexion to the close armour was
supposed to be behind Sam Wolff in
some sleight-of-hand work, which that
broker performed in the pork market.
He bid prices up and made occasional
sales as well, and whether he accumu-
lated any in the end was not quite de-
terminable, but he gave to the market
its bullish tone. Robson sold rather
freely on the advance and Swift & Co.
also had some for sale on the hard spots
The strongest phase of the market was
prevailing as 1t closed with everything
at the top of the days range. Pork
closed for May at $3.50 and for July
at $3.50, being net gain OF soc per
barrel Lard for May gained 32bc and
May ribs closed 221zc higher. Estimated
receipts for tomorrow: Wheat 1O5 cars;
corn, $50 cars; oats, 227 cars; hogs, $4,000
head.
Freights were slow and easier the
rate on corn to Buffalo and Port Huron
being 1c
The leading futures ranged as follows:
Wheat. No. p Open: High. Low. Close.