The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1894-02-21
MARKET REPORTS.

CHICAGO, Feb 19.-Wheat declined
1lzc today and closed with a loss Of &c
for May. Free selling by New York and
local traders was responsible for the de-
cline. After firm opening and slight
advance on better cables the price went
steadily down, with a reaction of but
&c from the low figures at the close.
May corn closed sc lower May oats &c
lower and provisions lower all around.
Wheat opened &c improved compared
with its value at the close Of Saturdays
session. There was a lack of enthusiasm
at the advance. and such as there was
got easily squeIched by the execution of
a few selling orders from outside sources,
notably Of from 14d12d which Liverpool
reported at the opening. That advance
was accompanied by the remark that
there was hard frost in England. There
was also some talk of a cold wave head
ed in the direction of the winter wheat
district OF this country, which was an
other support to the market here at the
start. There was also a small decrease
in the amount afloat as compared with
the quantity on passage a week ago.
The primary market receipts, so far as
known of them before the opening. were
light. The later cables, however, did not
repeat the firmness of those first re-
ceived and the clearances from the-sea-
board We're disappointingly small. The
opening price for May was 59Ac, and it
kept that value for about ten minutes.
1t then became weak. and about an
hour and half from the opening it had
declined TO 5S3sc.
The visible supply showed a larger de-
crease than had been looked for, 1913 600
bushels reduction being reported. That
however, aid not help to strengthen the
market, for the lowest price of the day
way reached after the visible statement
was published. Cottrill of New York
was credited with heavy selling here
through II. Lester & Co, and John y
Cudahy was thought to be the principal
behind the selling of several brokers
who had apparently large quantities 10
dispose Of. Armour & Co. also sold free
ly. and under the depressing influence
of the heavy sales May went down to
5I3sc, and closed but &c from the bottom.
May opened at 59hc, advanced &c, de-
clined 11ac, and reacted &c TO close at
5SIsc
In corn there was only a moderate
trade, the market ruling quiet all day
with the exception of q short time at
the opening. The tone at the start was
firm and opening trades We're 1sc ad-
vance and values held quite steady for
a while, until wheat turned down. when
corn sympathiZed. selling off 9sd15c, ana
raliying later on 1sMLc. declined 1k0Ac.
The car lots were about as expected at
423 cars, but tomorrow's estimate was
placed at $50 cars. The increase in the
visible supply and also local stocks had
the effect of weakening prices and May
closed but sc from the bottom figures of
the day. There was a light trade in
oats and an easy feeling in sympathy
with wheat and corn and on fair selling
by scattering longs prices Teceded &c,
and the close was at the bottom
Provisions opened easy and slightly
lower on the run of live hogs at the
yards being in excess of the estimates
reacted on the strength early in wheat
and then sold off to moderate extent
when that cereal broke. Good buying
of pork, however, sent prices I'D again
to the outside figures of the day thus
far The offerings were light, with a
corresponding volume OF trading. Later
on the market ruled weak declining to
the lowest point Of the day on two
blocks Of mess pork being thrown on it.
A better feeling subsequently prevailed
for a brief period. but prices declined
again on the weakness in wheat Shortly
before the end of the session the market
rallied again TO a certain extent. the I'M
dertone of frlnneSS asserting itself with
the closing steady. Compared with Sat
urday night May pork is 15c lower. May
lard 2i2c lower and May ribs 125&c lower
Estimated receipts for tomorrow:
Wheat. - cars: corn, $50 cars; oats. %
cars; hogs. $4,000.
The leading futures ranged as follows:
Articles. Open. High. Low. Close