The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-03-25
NO COLD-WAVE SCARE
Report of a Decided Fall in Mer-
curry Had Little Effect.
General Tone of the Chicago Market
Tended Downward. Though Wheat
Closed Practically Unchanged.

CHICAGO, March 24-The absence of fo--
eign news and the fact of to-day's short
session being wedged in between two holi-
days made business on Change dull. Wheat
opened easy and rather weak, and closed
up steady, with scarcely any change from
Thursday afternoons latest quotations.
Corn averaged weak, and left off with
loss of &c Provisions were weak, dull, and
closed 1Oc lower for pork, unchanged for
lard, and .0712c lower for ribs.
Wheat started easy and dull. The wealth
er was cold and raw in this vicinity and the
temperature in the far northwest of the
British provinces was down to II degrees
below zero. There was Discrimination to
believe that the cold had damaged wheat
SO far, although in Nebraska "a degrees
Of frost was registered in the northern part
of the State this morning The Milwaukee
signal service officer said: Severe cold
wave tonight and Sunday. Temperature
will fall to zero in the northwestern part
of Wisconsin and to 10 degrees above in the
southwestern part. Low temperature proba-
BILE for several days" All that did not APP
probably affect the traders who were
much more impressed with the very favor
able crop prospects, indicated by the Hi
nois State report. There were no market
cablegrams foreign markets being all
closed May wheat opened at 57s4c, as COM
pared with 57a4Q575sc at the close on Thurs
day. In the course of the next twenty
minutes it sold off to 5712c, which was a
return to the lowest previous price Of the
season, it having touched that point on
Feb. 16 last. 1t became firmer after that
selling up TO 57Tsc bid later in the session.
At the latter point Poole-Sherman sold
long wheat of some customer and that
caused a reaction TO 575sQ51$4c but the
possibility of damaging frosts before Mon
day morning exercised slightly restraining
influence on sellers and ii became slightly
firmer again bsfore the close. The esti-
900 to 100000 bushels decrease. The
market closed up firm at 51%4Q51Asc for May
and $3.50 bid for July:
those who had previously sold short. The
receipts were 3H cars for two days, and
lett-Frazer were buyers in conservative
s715c. and for long time held between
&c and S71sc, but toward the close of the
session 1t dropped to $3.50. In the last few
minutes the closing firmness of wheat
caused some more covering of shorts and
the price recovered to and closed at 3l1sc.
The oats market was equally dull If not
more so, than corn or wheat Inc cash
due principally to the receipts of two days
brought In on the market and with the
usual Saturdays limited demand At the
opening May sold at 3034c. 1t then sold at
207sc. AT the close 3024c was bid.
Provisions were rather weak, but the
change In prices at the close did not vary
very radically from Thursdays resting
prices. Pork is 10c lower and unchanged
and ribs .071ac off. Receipts of hogs for the
day, amounted to 1900 head and yester-
days receipts were 21,512. Baldwin was
a seller of ribs for May at the opening, and
the Anglo-American Packing Company sold
pork.
Estimated receipts for Monday are:
Wheat, 62 cars corn, 1S5 cars; oats. 200
cars; hogs, 5000 head Leading futures
ranged follows: