The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-03-12
THE VISIBLE SUPPLY
FAILURE TO SHOW LARGE DE-
CREASE BROKE WHEAT PRICES.
After stubborn Resistance Corn De-
cIined with Wheat, but Provisions
Were Strong and Advanced.

CHICAGO, March u.-After sharp adj
vance on better cables the wheat market
weakened under the heavy visible supply,
which did not show 50 large a decrease to-
day was expected and May closed CSC
lower. Corn stlsbbornly went to decline
with wheat. declining ssc for May, but May
oats lost 1sc. Provisions We're strong, max
ing good advances.
The struggle in the wheat pit began with
sellers Of May plentiful for NOM .nt at
5f5sc, as against soc, as it closed So turday.
In the melee during the first few seconds
two tens changed hands at $40
547sc. but in the next few seconds there
were plenty of buyers at 55e, and after fif-
teen minutes of rather spirited trading 55Ac
was paid. Then the marlxel became less
active, with some realizing of early pur-
chases. The receipts at Minneapolis and
Duluth numbered 423 cars, compared with 425
a week ago, and 500 the corresponding
day of last year. The Liverpool market,
according to the Board of Trade cablegram,
had advanced I'D per Genital. A cablegram
from Paris to Chicago house read: Crop
damaged by frost; spring seeding back;
think market will advance The French
country market, as cabled to the Board of
Trade, was firm and q centime per bushel
higher. Liverpool warehouse stocks de-
creased during the last week 224.090 bushels.
The result of the visible supply was not en-
tirely satisfactory. 1t showed decrease of
1,044,C00 bushels, which was a disappoint-
ment to those who had expected to see
a reduction of 1,500, COO bushels or more. A
duction in country elevators at about 700 600
bushels for the week. Primary Western
markets received 404, 900 bushels. The ex-
port clearanceS from the Atlantic seaboard
were small. The decrease IN the Amer
lean visible supply was more than balanced
by an increase of 100000 bushels in that
afiO9t E,lIrQOp closing cahlpQramS
showed frmness still prevailing abroad, but
the apparent effect of the statistical figures
reversing the movement here and abroad,
for both the day and the week, was rather
disappointing. After they had been re-.
to sac. It became ee stiff weaker as the ses-
sion progressed, and half an hour from
the close was down to 54lac. closing at
Corn was firm. with scarcely a weak spot
from beginning to end. The generally. down
ward course of wheat after the middle of
the day did not have much influence
the traders in corn. They started the mar
ket firm at 45a4c bid and $3.50 paid at
the same time. Before long they had adj
vanced the price to 46ssc, and the market
suited from firm fir cal Cables and light receipts.
Trading, in oats was still very dull. The
course Of the market was influenced by
corn. Sales opened at 29Ss029l2c, sold to
1850, down to 14G29asc, and rested at 29lsc.
All other futures were steady.
The provision pit IVES the center of bust
ness more than usual. The price Of pork
rose on tbs first jump from 15c to zoe per
barrel. and climbed soc more before the
shorts and other buyers were satisfied. The
first bids were at from M1-10 to $n15 but
before a second lot could be secured the
market had been bid up another zoe, so
light were the offerings The price of lard
and ribs rose in sympathy, but in a less
impatient manner Lard, for May. rose
opened at CSC and advanced to 5Soc closed
| at 575c. The closing price Of Nav pork
| was S11.4715 net gain for the day for
| 521kc Hog receipts. which were less than
| the estimates, gave the market its OPEN
| ing boost, and buving by packers, with COW
ering by shorts. did the rest.
Estimated receipts for tomorrow: Wheat,
| 20 cars; corn. 225 cars; oats, $50 cars; hogs.
| 80 600.