The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-08-03
GOLD EXPORT SCARE
1T SET THE BULLS Frantic AND
THEY BEGAN TO unload GRAIN.
wheat Went on f-4c and the Decline
Extended TO All Cerenls, as
Well as Proyisions.

CHICAGO. Aug. The rumors of gold
exports scared the bulls to-day and all
Board of Trade markets closed lower.
Wheat closed at decline of Ac per bushel;
corn lost 1c: oats. s4c; pork, S5c per brl;
lard and ribs, .071zc per pound.
A nights consideration of the existing
conditions OF the wheat market once more
caused a reversal Of general sentiment.
Some few who had interpreted the sur
roundings differently from the general
crowd bid from sc to lac per bushel over
the closing price OF the day before, but
they were Immediately overwhelmed with
offerings and, in consequence, those who
wished TO buy wheat and waited fifteen min
utes, got all they wanted at 6S7sc. The open
ing quotations for September were zoe,
against 69a.c at the close. The early dis
patches from New York had for their most
prominent feature the report that 100000
gold would be shipped from there to-mor-
row. There was nothing else in the earlier
telegraphic news to account for the great
change in public opinion. but that was
enough to deepen the distrust with which
the traders came prepared The he depression rsnoI
waned, until about II o'clock, September
spector showed 81 carloads of new wheat re-
contract grade standard. year ago re-
ceipts here were $50 cars. of which 1893 were
OF the contract quality. The total receipts
bushels, against 81 900 bushels a year ago.
The one disturbed feature or the statistical
exhibit was the exports. From the four
twenty-four hours comprised only 1900
bushels of wheat and 5000 barrels OF flour.
The stocks OF wheat at Minneapolis have
Duluth 1000 bushels, according to advices
from there and. notwithstanding the al
most complete stoppage OF the export trade,
another substantial decrease In the visible
seems assured. The foreign markets were
firm at the opening. Liverpool quoted 1zd
advance; Berlin Z mark gain, and , Paris
than it closed yesterday. and had turned
that into an advance at the close. The rea-
son for the upturn at Paris during the day
was on account of rainy weather In France
where the harvest is in progress. In the
afternoon there was tendency to recovery
from 6S1sc. Near the close the price was
the foreign markets and the taking of
few more loads of red wheat at Baltimore
and spring wheat at Duluth tended to give
the market here the appearance of firm
ness it was exhibiting after Its consider
able break. The closing quotation for Sep
Corn weakened in the afternoon, after
very firm start at an advance of &c over
yesterdays closing quotation Tor Septem-
Der. The opening trades were at 44c In
few cases. but there were very few sellers
at that 1t droppd gradually at first, but
later the decline became more rapid until
the price was down to 42ifc. 1t then recoy-
cred to csc, at which price lot was sold.
The opening of May was at .35%c and II de-
clined to 347sc, and closed at 35QS5lsc. The
DAVIS receipts were 31t cars and for to-
morrow AIS are the estimated arrivals;
The cash demand was perceptibly reduced
and as that has been the principal offset
to the fairly good receipts, the weakness
was doubtless due, in a large part, to that
change. = egF
oats opened steady at yesterdays closing
quotations and held so for some time under
the influence Of general buying orders from
Shippers and New rkApeople. Later on
the market counteractins very heavy
feeling from corn and lower prices pre-
vailed. September opened. at 22i1c. sold to
2lssM2lzc, and closed at INC.
The provision market opened firm because
published stocks at the end OF the month
proved smaller than had been expected
They were not sufficiently reduced, how
ever. to prevent the general break in grain
affecting speculative sentiment. The price
of everything yielded to pressure from the
short sellers in the afternoon. Pork for the
day closed with decline of 35c; lard, ooc.
and ribs. .O71zc. Receipts Of hogs were 5000.
Estimates for Saturday-Wheat, 70 cars;
corn. Ais cars; oats, 2l5 cars; hogs< 5000
head.