The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-01-26
STILL ON THE SLUMP
MAY WHEAT AT CHICAGO MAKES A
NEW LOw-PRICE RECORD.
ure of a Commission Firm Sent
the Market Downward.

CHICAGO, Jan. 25.-Under continued free
selling, wheat broke again to-day, and in
SO doing also broke the low price record,
May touching $3.50 and closing at sc lower.
The failure of William Young & Co.,
aided in the decline. May corn closed I'M
changed, May oats 1sc lower and provisions
at slight advances.
At the opening wheat sold at from 1ac to
CSC declines compared with the closing
prices of the day before. May was offered
at from 53s4c to $3.50, and large quantity
changed hands at these prices. AS on the
preceding days of the week, the selling
had nothing to do with the change in the
general situation. The people were selling
out their wheat simply from lack of ability
to hold it. A great deal of covering of short
wheat for local heavy spectators in the
first hour of the session turned the market,
May recovering under that influence to
5414g54asc by IL o'clock. There were rumors
of heavy export business at the seaboard,
which helped to bring about the improve
ment but that was denied little later
and on that the market gave indications of
returning weakness. Primary market re-
ceipts were about $4,000 bushels against
100000 on the corresponding day of last
week, and 1877 900 bushels on the similar
week a year ago. The Liverpool market
but closing I'D recovery from the opening
decline. The export clearances Of wheat
and flour from the four principal Atlantic
ports were equal to 235000 bushels A
notice was posted from William Young &
Co., ordering all their trades closed
The house was long large amount of
wheat the selling out caused a reaction and
the market soon went to $3.50. 1t is said
that the embarrassment OF the firm wa. was
the selling out for its accounts was the
true cause for the early weakness. The
market turned exceedingly weak during the
last hour, liquidation being vigorously re-
sumed, and May fell to 53ssc, making a new
record, but reacted to $3.50, where it closed.
from Ac to 1ac advance on yesterdays
prices. Through billed corn was less lively
No 8 yellow brought 41tsc, while 4O1ac was
the price in store. Thus the elevator peo-
pie were paying cent per bgsne
Trade in futures was only fair in amount.
May opened at 45c and 45l4c simultaneously.
and firmed up again to 451sc at the close.
The decline in the middle of the session
in sympathy with the weakness in
wheat
Oats were fairly active throughout the
SESSION, although trading was scattered
market was considerably easier, influenced
by the weakness in wheat. The firmness
rallied prices later. and at the close May;
&c over yesterdays last quotation.
Shorts were buying to some extent. May
sold from 29Q291sc to 29s4Q297sc, closing at
29.sc.
The provision market opened firm, at a
little Improvement on yesterdays closing
paratively small and the. estimate for to-
morrow was light. The buying was prin-
cipally by shorts, and at an advance of
from SC to 711c; this secured there were
again free sellers. The weakness in wheat
had its effect and about the middle of the
ing rates of the previous day. The latest
on the market was the diminish
ing hog receipts, which reasserted itself
after having been showed under for a
while, and the closing rates were a1ac
higher for May pork and ribs and 71ac
higher for May lard.
Receipts for tomorrow are estimated as
follows:
Wheat, so cars; corn, 173 cars; oats, s.
cars; hogs, Ii, 600 head
r aadinor f1t,,rac cnd foJonc.