The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1894-03-14
MARKET REPORTS.

CHICAGO. March 12.-Wheat went up
and down the scale today with the ease
and celebrity of street piano. landing
1itc lower than Saturday. after weak
opening and an carly advance of 1c.
The government report, lower cables.
large northwestern receipts and free sell
ing overcame the advance caused carly
by brisk buying and May closed only &c
from the bottom. Corn averaged firm
and closed with May unchanged. May
oats closed unchanged while provisions,
in sympathy with wheat, closed weak
and lower al around Wheat at the
opening showed the effect Of the govern
nent report OF farm reserves which came
to hand Saturday afternoon. The open
ing sales for May were at from 59i4c and
59c with the tendency for "A few minutes
to settle down around the lower figure.
There was a sudden recovery brought
about by some demonstratiVc buying by
Armour q Co.'S brokers, who took several
good-sized lots which were being offered
a 59c and kept bidding for more for
short time as the market kept rising in
response to their action Buying became
so general from the cause mentioned
out a good deal Of the wheat they
bought at from 59c up to 59l@c, when it
advanced to 5924c and over as it did in
a very few minutes following the leads
given to it. AS high as coo was paid for
a little May wheat before the frightened
shorts recognized that they were being
chased by the mere shadow of their own
imaginings The price after that began
point, at which some further moderate
purchases for Armour * co. steadied it
again. The visible supply decreased
about as had been expected The amount
of the decrease was 962, 900 bushels COM
pared with an increase of $4,000 bushels
on the corresponding week otf the prcvi-
Gus year. \ second decline in the price
occurred Immediately after decrease in
the visible supply was known. The days
receipts here were only twenty-five car
loads against thirty Il year ago. Mime
apolis reported 4$2 cars and Duluth
eighty-one compared with eighteen. re-
spectively. a year ago. After a struggle
at around 59c there began to be per-
ceptible weakening of the bull sidc, and
finally the price came down with "a run
and did not cease tumbling until it
struck 5Sssc A correction in the visible
supply figures making the weeks de-
crease !. OS2. 900 instead Of 967. 900 bushels
as a first reported did not help the price
much, as there were sellers at 5s1ac as
the session ended.
The corn market held aloof from wheat
when il went so far in the way of bear
ishness as it did in the latter half of
the session. The government report was
slightly bearish in its effect, as was seen
"A the start. as compared with Satur-
days closing price for May. 1T recov-
cred with the first jump i'm wheat rising
from 37isc, near the start for MAY. TO
Sisd3SIc, and worked off again when
wheat was declining until it was again
down around the low point touched in
the first few minutes of the session. The
closing price was but 1sc from the bot
tom.
Oats opened shade easier in sympa-
thy with wheat and corn and followed
those markets in the frmness which they
experienced later on in the day. There
was also a good many oats bought up,
and with the light offerings had
strengthening effect on the market After
the prices had advanced Sc from the
opening price and the buying orders
mostly filed, the price declined again
and business was rather quiet from that
time up To the close. \ decrease of 127,-
600 bushels in the visible supply had
some effect i'm retaining the strength.
During the early part of the session
quite a large amount Of business was
transacted.
Norton Worthington. Schwartz. Dupee
& Co, Bartlett. Frazier and r. +. Pratt
were all free buyers. The selling was
scattered. The market continued 10
weaken toward the close and rested al
or within lsc Of the last prices on Satur-
day.
In provisions there was a good deal of
realizing of long stuff today with the
shorts apparently so certain Of their po-
sitiOn that they bought quite sparingly.
The decline, which was the result of the
days business and the slump i'm wheat
started at the opening There was a
temporary recovery while wheat was
last long, and with the subsequent weak
ness i'm wheat provisions became very
limp and had a bad break. Compared
with Saturdays closing prices pork is
271Ac lower. lard is off f5c and ribs are
also 15c lower.
Estimated receipts for tomorrow:
Wheat. so cars; corn. $50 cars; oats, 22O
cars; hogs, $4,000
May wheat made a new low record
this afternoon, declining to 81 5-16c or
Lice below the previous lowest record
The weakness was the result of heavy
liquidation both here and in the West
and the total transa ctions for the day
were over 10.000000 bushels. the biggest
days business done in a long time No
failures reported.
The leading futures ranged as follows.