The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-07-12
THE BEARS ROUTED
UNABLE TO HOLD DOWN YESTER-
DAYS MARKET AT CHICAGO.
Wheat Advanced Nearly &c, Corn
visions Also Made Gains.

CHICAGO. July 1.-THE bears In wheat
were unable to follow up the government
crop report by a smash in the price. Sep
TENDER is lac per bushel above yester-
days close. Damage to spring wheat,
small receipts and some revival of inquiry
from Eastern consumers were the reasons
for the days advance. Corn rose &c; oats
closed &c higher and provisions made most
gains.
Wheat started weak and in the course OF
an hour 1t looked as If the bears had re-
newed their lease of the market. At the
end Of that time, however. the crowd had
come around to look more critical
ly at the bears presentment of
the position of the market and did not
for very long accept the bearish construc-
ton which was at first being put upon yes
terday's government report. 1t was soon
recognized that with the knowledge now
possessed of the damages to a consider
able extent to spring wheat in the North
west since July 10 In the gov
eminent report was an additional induce
ment to embrace the long side and a ma
jority soon began to embrace it. The dam
age reports were again numerous and
many Of them were somewhat sensational.
Duluth dispatches reported an immense
oiiC oOlC aAA tO"ANy
in cash wheat TO go to a miller In a good
wheat raising county in this State. Under
such stimulating news the market be
slowed on the foreign market quotations.
or. the export clearanceS, or any thing
p eriees winch h&ive on Slra openssd I Weak is and iIa
lower and declined another Id per Genital.
but the one fact of the damage of
and erie wse Continued irSp u soaring unt sGe half as
hour from the close September wheat had
risen from 644c, the lowest price. it sold
minutes te from the Close It was bringing
67&sc. Chicago received forty-one cars and
the total receipts at Chicago. st. Louis.
1900 bushels, but that after trade had
been in progress for a month. hat in
dicates the farmers opinions Of the size of
Duluth receipts were lie cars. Compared
with l54 cars a year ago. Exports Of flour
and wheat from Atlantic ports were 240,-
The government report was the FREEDOM
mating influence In corn for a short time
near the opening, but that was all forgot.
present commercial stocks are rapidly dis
appearing and that the prospect OF replace
ing again from the old crop Is very slight
new crop futures were also slightly az
fected in sympathy. To-day's receipts were
The total receipts at the primary markets
were 117,0W and the shipments from the
same 5O7, 600 bushels. Estimated receipts
for tomorrow, 100 cars. At the opening
from f3c down to 425sc was current for a
second and then an advance began which
took the price up to A11c and Hhq4411ac
and was current at the close.
The early market for oats was fairly ac-
tive and prices lower. selling OFF 1c on a
steady decline. The. weakness was caused
mainly by free selling, in which Cudahy and
Shirley Martin figured prominently. Later
the market rallied and recovered the early
loss. Shorts partook freely of the liberal
offerings and created the upturn. The in
fuence of wheat and corn was also felt in
the advance. September started at from
2S1s to BIC, fell off to 221sc, sold up to 231ac
again and closed with that price bid.
small run of the grain markets and closed
with an addition OF about TIC to yester-
days quotations for pork, while lard and
ribs gained .10c each.
Estimates for Friday-Wheat, 80 cars;
corn, 100 cars; oats, 15 cars; hogs, $1,000
head.