The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-09-23
CHEAPER THAN HEA
CASH CORN, FIRST TIME IN W.
MONTHS, H LEADER.
Wheat Went on 1-2c Saturday, While
Corn Fell ~2c-PrOvisfOns Lower,
Pork Being Down 35c.

CHICAGO, Sep. 22.-Northwestern re-
ceipts were heavy to-day and spectators
anticipated a heavy increase in the visI-
BILE supply. AS a result wheat shows a
loss of &c per bushel, while September
corn dropped &c and May 1c of their previ-
Gus values. Provisions are lower by 35c in
pork, like in lard and zoe in ribs.
For the first time since Aug. s No.. 2 cash
wheat is worth more money than No. 2
corn. Wheat opened quiet, but firm at a
small fractional advance. The firmness
was in consequence of the inspected re-
ceipts here turning out much less than had
been estimated. The estimated receipts
were 16O cars and the number actually in
spected los. The general condition of the
speculative situation was unchanged. The
weakest feature Of the days news was the
heaviness of the Northwestern receipts,
which at Minneapolis and Duluth amounted
to $40 carloads. compared with only $50
on the corresponding day of the year be-
fore. The speculative business was local in
character and rather light in volume.
Fearing the probability of a heavy increase
in the visible the crowd was bearish and
all the more inclined TO sell on account of
the weakness of corn. December opened at
55Ac' and sagged YEARLY to 54Sc, which
was the price when the ten-minute warning
bell sounded it's caution to prepare for the
close. The desire to sell increased and 54l2c
was reached near the end, with 541aQ545sc
the closing price.
Corn opened firm, but did not long re-
main so. 1t gradually became weak, then
weaker, and was weakest at the end. Stop
orders were reached at every bc decline
below SIC for May, and as the closing
value was 52Ac there were numerous OPP
nOrtnnifiQS for the sion loss orders TO
come into play. The weakness was princi-
pally in consequence Of the pressure to sell
season, sold at a discount as compared
with May, and for the first time in about
esI Wfnsns T fIsa receipts eceh sT We're enss5SaPe cars sn5 by
rail and 20, 400 bu by canal. September was
worth 527sc near the opening and 5oAc at
highest to the lowest price made to-day.
Oats were active from beginning to end.
Selling was still very urgent. mostly long
stuff, and prices were again lowered The
corn market was also influential in helping
the decline. The first symptoms of the de-
brokers for Cudahy & CO. started to raid
the market with heavy offerings. The gen.
eral disposition was to close out, and the
ing price, to 34c, the lowest point, and at
which price the market closed, a decline
Of sc since yesterday. Boyden and Car
sellers. October ranged from 2ac to 2S5sc,
closing &c under at the latter price.
Hog receipts being light ana the grain
markets rather firm at the opening, the
first few transactions in the provision mar
ket showed some steadiness. Tina state
of feeling was soon exchanged for one of
extreme weakness. Stop orders on the de-
cline were reached in great plenty from the
appearance of the offerings and the pack
ers, led by brokers' for John Cudahy, made
it easy for stop loss orders to be reached.
There was very little recovery at the close
from the bottom prices, although a good
deal OF covering of shorts was in progress
during the last fifteen minutes Of the ses-
sion. Business was active during the great
er part OF the day.
Freights slow at 11kc for wheat and nc
for corn to Buffalo, and a load of corn to
Walkerville paid 1lac.
Estimates for Monday: Wheat, PA cars:
corn, 500 cars; oats, 260 cars; hogs, 20, coo
head; hogs for the week, 100, 600 head.
Leading futures ranged as follows.