The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-10-16
ANOTHER LOW RECORD
DECEMBER WHEAT DROPS TO 5 y 1-2
CENTS WHERE 1T CLOSED.
ply the All Important Influence ON
the Board of Trade.

CHICAGO, Oct. 15.-Wheat made a new
low price record to-day at 521sc for De-
cember. An increase in the visible supply.
lower cables and realizing caused the weak
ness, December closing 1c lower than on
Saturday. May corn closed sc lower. May
oats sc lower, and provisions at a decline.
Wheat, which closed so firm on Saturday,
opened weak to-day, with sellers at SIC
for December rather more numerous than
the buyers, and May offered at 5Slsc with
few takers. In the course of an hour sell
ers of December and buyers of May were
unable to make a straight transfer at
&c difference, and by noon the spread was
only 47sc and the price went down to 5z1s
Q52Ac for December and 57bc for May.
By that time the visible supply statement
had been made up and it was the cause
OF the heaviness indicated by the quota
tons. 1t showed an increase for the week
Of 100000 bushels. making a gross total
OF 75,074,0 600 bushels, compared with $685.
700 bushels at the corresponding time last
year. The visible supply increased about
twice as much as the published movement
for the week at the more important mar
kets had suggested. There were other rea-
sons for weakness in wheat besides the
increase in the visible, but they were all
" N4A1 Sa<AAC OoG-lOO 1laSh Az
in sight. Liverpool cabled that supplies
from Russia were increasing and that the
Argentine wheat crop was promising we'll
on an increased acreage. The clearances
of wheat and flour from the principal At
lantic ports were only equal to about 49,
OV bushels. Primary market receipts were
a little more than 100000 bushels. Mime
apolis and Duluth received yS4 cars, or
only about half of last years receipts on
the corresponding day. Indian shipments,
were 10000 bushels. The total amount on
ocean passage decreased 352, coo bushels last
week. Business was not very brisk until
about u o'clock, when some sorely-tried
weary holders dropped their loads and gave
the shorts a good opportunity to realize
their profits. The closing phase of the
| December dropping to o21sc and May to
DISC. These were the trading prices at the
close.
The receipts of corn were seventeen cars
smaller than estimated, but IL opened rath-
er weak and only one feature of the days
occurrences did otherwise than add to the
heaviness which seemed to be in the limos
phere. The one bull feature was the de-
crease in the visible and a decrease of the
| quantity on ocean passage, but that count
ed for little in view of the absence of any
urgent shipping demand, and the fear of
the effect OF liberal receipts of new corn,
which 1t is thought will be coming to hand
in about a month from now. May opened
at 413c, but sales were Immediately made
at 1859, and very soon at 4s1sc. There was
~ AteAC oetNl W IL illdL net, tlC up
ward reaction being slight. The decrease
in the visible was 526, 900 bushels, COM
pared with an increase of 205, 600 bushels
in the corresponding week of last year. The
total in the visible is now 1896, 900 bushels,
compared with $780, 900 bushels last year.
The price of May declined TO 1890, and after
recovering &c and selling off again to
$3.50 twice. there was a third reaction and
decline which left the market prone at the
bottom of the days range.
Business In the oats market was quiet
f! and prices lower. The sympathy with corn
was principally influential in regard TO
fluctuations. The easier feeling was added
TO by an increase of 430, 900 bushels shown
in the visible supply. Provisions started
with heavy receipts of hogs to the debit
of the bull side. and the weakness dis
| played by the grain markets was an adj
ditional cause Of encouragement which be-
came heavier in its influence as the decline
continued. Trade was not brisk, nor with
the amount of the days decline very heavy
Some supporting orders were In the market
for pork at about 12l1c decline from Sat
urday's closing prices, and in lard and
ribs at .0712c decline. The net loss for the
day was 10c in pork and .071kc each IN lard
and ribs. Hog receipts to-day were $4,000
head; estimated for tomorrow, 1900.
Freights-Slow at 11sc for wheat and lie
for corn to Buffalo.
for Tuesday-Wheat, $50 cars
corn, 275 cars; oats, 16 cars. Leading fu-
1 lures ranged as follows.