The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-01-24
WHEAT rs OFF AGAIN
AFTER UNCERTAIN FLUCTUATIONS
IT CLOSED 3-sC LOWER.
Corn and Oats, Influenced by Shin
ping Demand, Gained 3-Sc-Proyis-
ions Lower, Pork Dropping soc.

CHICAGO, Jan. 23.-The LIQUIDATION of
wheat longs the Board of Trade which
commenced a few days ago. continued to-
day, and prices broke all former records
for this season of the year, Nav wheat hav-
ing touched 54ssc. The lowest price year
ago to-day was 635sc. 1t is estimated that
fully 100000 bushels of long wheat has been
thrown over during the last three days
A small failure was reported-that of J.
F. Hellwegen & Co. Exhausted margins,
stop-loss orders and the general discour-
agement of holders brought more wheat on
the market than the trade could absorb
and hence the weakness But the sensa-
tional decline of the day was in May pork
which went off so cents barrel, and this,
too, in the face of smaller receipts of live
hogs than expected and higher prices at the
yards. But holders of the product were
bent on liquidation and there was bear raid
ing which broke the price. Everyt thing re-
covered some, however, before the close.
Wheat bobbed about uncertainty Pushed
down by free selling and showed up by
shorts covering, it finally rested Sc lower
for May. Corn refused to follow wheat and
aided by better shipping demand gained sc.
Oats gained like amount, but provisions
closed lower all around.
The wheat market opened quiet and feeble.
the closing quotation of the previous aft
ernoon it gathered itself together again and
recovered for short time it's first decline.
In the course of another half hour it was
once more struggling in a death grapple
with the bears on top of it, Foreign mar
kets were not so distressingiy SICK as gen
eral expectation had prepared itself Cor.
Receipts here and in the northwest We're
light. The seaboard sent bearlsh dispatches.
There We're apparently many long nnes
hanging by the merest thread and acting on
that impression, big bear SPECTATORS gave
the market shake after snake, until all the
weakly supported wheat went over and
shorts were satisfied to cover May, Which
closed yesterday at 55Ac, opened with sell
lers at from 551sc to 55c and sold as low
547sc before it reacted, 1t gained slowly
until it touched 55AM55ssc at which point
vigorous selling recommended and 1T grad
ually worked back again to 55c At the
latter price this short struggle out
of which the bears came victorious and the
price went down to o41zc and after recover
ing 533sc. The shorts who had been buying
freely on all the preceding dips, took hold
rose again to SIC. About twenty minutes
from the close business had become slow
again. May. closed at 541sc
Corn acted regards the wheat market
very similarly to its procedure on the day
before. It showed an indication OF having
more friends and fewer enemes. Inc re- re-
200 and the demand for carloads through
billed was sufficient to add from Ac to Zee
to the price paid yesterday The opening
prices for May were principally from 45asc
to 451bc with. sale or two as low as 45Ac.
1t recovered to $3.50. dropped back to 45ls
4Ds544c went once more over the same
ground and then rose to 42asc, resting at
45&c. e.,,..-
Oats were principally inclined to follow
corn The disposition to sell was compare
lively nothing and some shorts were still
at work covering, but trading was; on the
whole, rather draggy and slow. May sold
from 291sc to 29ssc, where It was at noon.
The price advanced to 2s5s@2ss4c before the
close and the final sale was made at 2sl20
2gsSc. The cash business in oats was active
and prices were firm. ,4 -.
After steady opening and slight ad-
vance, provisions broke sharply, Ihere was was
the demand was far from sufficient to "a an
sorh the offerings. May pork finished ZI12c
lower; May lard, Tee lower ana rioS f72c
Estimated receipts for Thursday-Whea
As cars corn, 160 cars; oats, 80 cars. HOGS,
$1,000 head