The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-09-15
BEARS HADTHEIR DAY
HAMMERED DOWN EVERYTHING
FROM WHEAT TO sPARERIBS.
Corn Suffered the Most, Going on
3-4c. and Pork Leading Provi-
siOns with a Decline of 20 1-2c.

CHICAGO, Sept. 1.-THE bears ruled the
Board of Trade markets to-day, and with
heavy receipts as a cudgel pounded prices
down as follows: -Three-quarters of a cent
per bushel in wheat. lac in corn. 12c in oats
and 232c per barrel in pork.
Wheat started weak and failed to recover
the opening decline. The receipts of corn
being quite as heavy as had been estimated
yesterday, had a depressing effect on that
cereal and sympathetically on wheat also.
The Liverpool market was quoted rather
weak. and I'D lower at the opening. Berlin
was said TO open p mark lower, and Paris
was quoted steady. Chicago receipts were
175 carloads. Minneapolis reported 213 cars
and Duluth 553, or a total of 766 cars at the
two latter places, compared with 7OS on the
corresponding day of last year. AT Mime
apolis cash wheat was reported strong at
561ac at the same time that it was selling at
55l2c for December in the same market, and
at 561zc for December here. The primary
market receipts were $4,000 bushels smaller
than they were, amounting TO $4,000 bushels
to-day, against 1.e0s,O00 on the day before.
The export c%learances from the Atlantic
ports amounted in wheat and flour to 324,-
900 bushels. December, which closed yes
terday at 57kc, opened with sellers at from
$3.50 to 567sc, and gradually settled to 5612c.
II was lifted temporarily 10 about the
opening figures, hut got down again to the
previous lowest price and hung there heav-
lily for an hour, alternating between buyers
and sellers at that. When corn was in
the throes of dissolution, about IL o'clock.
the price of wheat dropped to 56asc. Lack
ing any help from the seaboard near the
close. on the way of reports of purchases
emboldened by the evident dfsheartened
condition of the bulls, the market became
very weak. Rozekrans and August Bros
seau were free sellers near the close, when
wheat was hanging aruond 561zc, and they
succeeded. with the help of the general
crowd. which had then become unanimous
~ bearish. in closing the market at 56asc,
the lowest price of the day.
Corn started very heavy on the full real
ization of yesterdays receipts.
The estimates were for 425 cars, and 463
sale by prominent commission houses who
had been prominent in the buying for ten
loads for tomorrow produced a desire to
sell, whic accelerated the decline that
started on to-day's receipts. May opened
with sellers at from SAGE to 54ssc, with a
sale of one or two lines at 5f5sc about the
same time. 1t declined gradually until it
reached SIC, and. after a stubborn. resist
cumbed to the influence Of to-morrow's
estima ted receipts. broke to 5S1sc and closed
at 53Ssc.
The oats market was quite active during
the early part of the session, when there
were heavy offerings of long stuff, but
after the few buying orders had been filled
and prices lowered business became quiet.
with. only a fair trade having been trans
acted. The decline in values and the easier
feeling were principally caused by the ac-
ton OF corn. May started from $3.50 TO
36c. and sold down to 351sc. At noon il
had advanced again to 35%c, closing at
$3.50.
The provision market opened weak al
from &c TO T1ac all around on pork, lard
and provisions. There were a few buying
orders executed after the first drop, which
steadied the market a little. There was a
strong drive maue at the market when corn
was showing the white feather, and when
the sellers had succeeded in getting pro-
visions on the run they kept pushing their
advantage. until closing prices. Pork
lard .12i2c and ribs .12l2c. The days re-
ceipts of hogs were light. as had been es-
timated, at 1900, and tomorrow IL, 600 is
the estimated run. The Cudahy Packing
Company. Swift & Co. and Hately Bros
were prominent buyers on the break. The
Anglo-American Packing Company and
Baldwin were active sellers, A slight
rally occurred when the shorts began 10
take profits. but the raid was again re-
newed near the close and the lowest prices
or the day became again current.
Freight rates steady; charters for corn
to Buffalo. 14c; wheat, to Port Huron. 11sc,
and to Milwaukee, &c.
Estimated receipts for Saturday: Wheat
20 cars; corn, 800 cars; oats, 20 cars; hogs,
5000 head.
TaadipU f,1t,raS rapood ~. So,1--