The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-01-31
SLIGHTLY RECOVERED
CHICAGO WHEAT STARTED WEAK,
BUT LATER THE PRICE ADVANCED.
Improvement Partly Caused by a De-
sire of Shorts to Realize Profits
on Tuesdays Sales.

CHICAGO, Jan. 3O.-Encouraged by the
hope of a speedy relief of the present
strained financial condition. Board of Trade
spectators to-day closed their heavy lqui-
dation and all the grain markets closed
higher May wheat gained 12c, May corn
CSC and May oats Sc Provisions finished
with but little change.
Wheat got a weak start and for a few
minutes it looked as if there might be
repetition of yesterdays unloading of the
bulls holdings. Long wheat did not come
out, however. The Liverpool market was a
shade steader at I'd advance but on the
other hand the Northwestern receipts for
the day were heavier than they were on the
corresponding day last year and the Ber-
lin market was L mark lower. An impress
sion that Congress would have to do some
thing in line with the Presidents recon-
mendation was largely helpful The total
receipts at primary markets were only 1885,
900 bushels, compared with 231 900 bushels
week ago, and $4,000 bushels a year ago.
The advices received here from ST. Louis,
Kansas City, Detroit and other markets of
less Importance were that country millers
were drawing literally from the stocks at
those places. 1t reported also that very
much heavier purchases for export were
made yesterday at the seaboard than had
been given out, the New York takings it
was said, having amounted to 5,240 600 BUSH
els. At Chicago 40 carloads of No. 2 red
were reported to have been sold late yester-
day afternoon for rail shipments to the sea-
board. When later in the day it was wired
from New York that Secretary Carlisle was
about to arrange for placing 800, 900 of
bonds at once to relieve the present de-
pleted state of the treasury the market
became quite firm and sold up to 53asc for
May about hour from the close. The
opening price was from 52Ac to 525sc as
against 527sc bid at the close yesterday.
1t advanced to 53c, sold off again to 521ac,
improved to $3.50, already mentioned, and
was quiet, but steady at 53ssc at the close.
Corn was weak for few minutes at the
start, due to the slumpy beginning made
by wheat. The former was the first to
show return of confidence and ruled firm
all day after the first half hour of the ses-
sion. The opening price of May very
irregular, there being sales simultaneously
at 1850 and 4314c. principally, however, at
the lower quotation 1t gradually hard
ened until, just as the market was closing
44Q441sc was paid. 1t closed with 44c as
the general traaing price. The receipts
tomorrow. The general impression among
the pit traders was that liquidation by
country holders had ceased and that the
chances in the near future were in favor
of buying in soft spots.
Oats started f1rmer and remained dur
just after the opening, when the price fell
1sc under. The market closed with the high
prices prevailing Business throughout was
active. The parties who yesterday put
forth their best efforts to raid the market
were prominent to-day for free buying. The
general buying was also good, and notwith-
standing the fact that commission houses
continued to pour in country long stuff, the
market was strongly held Sympathy with
the neighboring cereals was greatly in
fuential in creating some firmness. May
started from 2S5sc to 2S&c closed down to
2S1sc and up to 29c, where it closed.
The provision market was overwhelmed
at the beginning by the news from the
yards. Instead of $1,000 hogs, as estimated,
49, 900 were given the days run, and Sc. 900
as the probable. receipts for tomorrow. The
opening prices for pork lard and ribs were
at from sc to 10c below the closing price of
the day before, but the rates made at the
beginning were at the bottom nearly so
of the days range Packers bought at the
decline and took in the course of the day
enough to cause recovery of about all the
cary loss. In the end pork and lard COM
pared with the closing prices yesterday
were unchanged and RIBS .021ac lower.
Estimated cars for Thursday: Wheat, 30;
corn, 102; OATS 100 and 1000 head of hogs.
Leading futures ranged as follows: