The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-10-06
TOO MUCH FOR BULLS
FOREIGN AND DOMESTIC NEWS
MADE CHICAGO MARKETS HEAVY.
Were Numerous and
sharp, Resulting i'm al Loss to-
Wheat Oats and Provisions.

CHICAGO. Oct. 5.-The grain market had
a tempestuous time to-day. The reported
death Of the Car, a heavy New York fail
ure. lighter receipts and lighter clearances
badly mixed up themselves and the traders
and fluctuations were sharp and numerous
At the finish December wheat was sc
lower. May corn unchanged and May oats
1sc lower. Provisions declined moderately.
The small local receipts of grain and
firmer market abroad gave the wheat mar
ket a strong start. 1t had scarcely got
under way. however. when Partridge and
Leeming and other commission houses
whose principal clients are short sellers
opened their foodgates and swamped the
early buyers. December, which started at
from 5i1sc to 54Ac bid, and with a sale or
two at SAC, was knocked down to 53asc
In the course of fifteen minutes. The short
sellers had but a few minutes of triumph
at that time. The people who handle cash
grain reported buyers of their goods at an
early hour of the session. The reports from
the Northwest were confirmatory Of what
was t~elegraphed yesterday regarding the
falling off in farmers deliveries at interior
stations. but the decreased movement was
generally ascribed to the rainy weather
and consequent bad state Of the roads. A
report that the Car of Russia was dead
was a matter which tangled up legitimate
influences for a short time. until the ru-
NOR was killed and the Car restored to
his family and subjects. The price recov-
cred quickly from its first decline and soon
sold up to size for December, May keeping
step in the advances and declines at a
distance Of from sc to 1-16c. The strength
failure of a New York stock house was
the signal for general selling again by the
lGsal sSfa asain to pn SEE f Mnic pece ens price e
few buying orders at the decline quickly
changed the feeling. of the crowd. once
more. The price on the last named advance
reached 5i7sc. Primary market receipts
were light at 1882 bushels, which included
VIC days arrivals at st. Louis. To OFFSET
equal in wheat and flour to 22O. 900 bushels.
including 10. 200 bushels at New York. Clos
ing cables were firm and higher from Liv-
erpool and Berlin, but rather easier from
Paris. The last turn Of the whirligig mar
ket was downward. The bears took more
comfort out of the Wall-street failure than
the bulls could find in all the favorable fea-
lures of the days news. The market de-
clined TO 531ac under the bears hammering.
and closed at 53d5sasc.
Corn was strong the greater part Of the
session. The selling pressure by heavy
spectators has given place to buying by q
similar class. The strength Of the cash
elevator stocks and very light receipts.
were the main elements Of strength. Oc-
tober corn. which has ruled lower than the
May future recently. got to a good premium
to-day, and spot corn brought Nc premium
over sellers OF the month. A sale of 100, 900
bushels of No. 2 corn for shipment to Pc
oria, which was reported early In the ses-
sion, emphasized the scarcity Of spot stuff,
but liberal offerings Of No. 3 for Novem-
Der and December deliveries received from
points in Illinois found no buyers at from
4c to 4lac per bushel discount under May
prices. Local receipts Were only sixty-nine
cars, and 10 estimated for tomorrow are
likewis very light for the season OF the
year. The market, after being strong near
ly all day, closed weak, affected by the de-
cline in wheat. October opened at 5o1sc bid.
advanced to 521sc.. and closed at sic. or &c
Improvement for the day. May started with
buyers at 511sc. and from that up to 512c,
compared with 507sc at the close yesterday;
ii rose to 5l%c, slumped to 50sG50Ac, and
closed at 50Hsc bid.
Oats met with a fairly good sale, and,
after opening a shade easier. gradually
frmed up. The movements of prices in
corn continued to influence oats fluctuations
principally, although there were. strong bull
ish features in this market The dispose
ton to buy was very good, and, with Local
scalpers about the only parties selling
considerable strength was derived from
that. May started steady at 34lsc, touched
| 344c, sold down to 33sc, up to 34$s q 3412c,
and shortly before the close sold at 34c.
The market for hog products ruled weak
The prices, compared with those at the
close yesterday, are 1c lower for pork, Csc
| lower for lard and .0712c off for ribs. Pack
| ers were again the sellers. The Liverpool
market was quoted weak for meats and Is
Sd lower for lard. Hog receipts were 1900
| to-day, and 10000 are estimated for to-mor-
row.
Freight rates steady at 1ssc for wheat
lac for corn and barley and 1hc for oats