The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-01-22
PRICES SLAUGHTERED
GENERAL LIQUIDATION CAUSED A
BREAK IN WHEAT OF 4 5-sC.
Corn Was Pounded for an Equal Loss,
Oats Went OF n Cent and Pro-
visions Were All Lower.

CHICAGO, Jan. 21.-It was a sad day for
the bulls in the Board of Trade markets
Wheat broke on general liquidation and
closed 15sc lower for May. The other mar
kets Joined the procession and wound up
1ssc lower for May corn, 1c lower for May
oats and lower all around for provisions.
Wheat opened fairly active at about Sat-
urday's closing prices. May sold at from
5712c to 571aQ579sc, and July at from 5sc to
581sc. Those prices were scarcely recorded
when the market began to break and al
though during the decline of &c, which oc-
CURED in the first hour, there were two
three temporary rallies of 1sc, the selling on
each of those slight reactions was very
confidently renewed and kept up until May
was at 571sG5714c, which it reached about
an hour from the opening. The English
markets were weak. Liverpool stocks of
wheat increased $4,000 bu during last week.
The decrease In the visible supply was
only 100000 bushels, and the amount on
ocean passage becoming known about the
same time and showing an increase of
$4,000 blu, the selling was renewed, with
the result that another small fraction was
knocked off the previous lowest price. At
57as05S1sc a good deal of short wheat was
covered, and more was wanted than
for sale. The market became weaker again
about an hour from the close, and SIC be-
came the general trading price for some
time, with sales down to 567sc and at
those prices vast amount changed hands
Short sellers had by this time dismissed all
jealousy for each other, and in another
half hour the price was 56a4c. The decline
continued up to the close, the selling be-
coming more and more urgent the Ses-
sion advanced May reacted but Ac from
the lowes1 figures of the day, finishing at
557sc.
Corn was easier at the opening and be-
came still weaker later in the day. The
receiving houses all appeared to have corn
for sale, and that being taken as repre-
senting wheat bought in the country, it
weakened general sentiment, and with the
acting and reacting on each other, corn
in the end shared in the general smash
Near the close May, which closed on Sat
urday at 471sc, and also touched that this
morning. was, down to 4512c. General liqui-
dalton was the order among the holders,
and it came with a rush during the last
forty minutes of the session. May closed
at 451ac
A heavy business was transacted in oats
and the direction the market pursued was
course of all the markets on the floor.
Liquida ton seemed to be the general cause
for the decline. There occurred a slight
rally at the end, and 291sc was the closing
3O1sc to 2S7sc. The aforementioned price is
thus far the lowest point of the crop, and
l1sc under Saturdays closing quotation,
which was at the time the bottom.
Provisions were weak in sympathy with
the grain markets. The holders also had
hog receipts and free selling of product by
packers. The close at the lowest
prices of the day, with May pork 35c lower,
lard .121ac lower and ribs .15c lower.
Estimates for Tuesday-Wheat no cars:
corn, 1853 cars; oats. 165 cars.
Leading futures ranged as follows.