The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-18
BULLS IN GOOD HUMOR
WHEAT SPECTATORS AT CHICAGO
RECEIVED GOOD NEWS,
And Forced the Price Up lie, but
Failed to Hold All the Gain-Corn
and Oats Also Higher.

CHICAGO, Sept flight Northwest re-
ceipts and heavy foreign acceptances were
the sustaining influences in wheat to-day
There was considerable realizing on the
sharp advance, but prices were we'll held
December closed at advance of &c.
Corn closed 1sc higher, oats sc higher and
provisions 212c higher to sc lower.
The long-pent-up feelings of the bulls in
wheat found vent at the opening to-day.
They became actually enthusiastic in the
way they bid for the limited offerings and
the price in about half an hour from the
start marked over 1c higher. The reasons
for the cheerfulness which was seen to
pervade the ranks of the bulls were va
rious. Perhaps the most encouraging fea-
ture was that the receipts at Minneapolis
and Duluth numbered only 1872 carloads,
compared with 1,043 on Thursday a week
ago and 1888 on the corresponding day of
the previous year. The previous heavy
Northwestern receipts had certainly much
to do with the recent heaviness of the
market. Liverpool sent higher quotations,
reporting ed advance for spot wheat and
34d rise for futures Berlin also came higher
al the opening. There something bet
ter from abroad however, than barren quo
tations. New York wired that liberal cable
acceptances were to hand of offers made
last might, anu ALlCdSO IOuSGS also HdQ
their cable offers of No. 2 and No. hard
winter accepted. Chicago receipts were 22O
cars, as compared with rs cars a year ago.
but only cars graded contract. Atlantic
port clearances were equal to 333 900 blu in
wheat and flour together. The bulls did not
nave 1t all their own way, however. The
sharp advance proved too tempting to some
OF the lucky longs to be resisted, and a
pretty general movement to sell out and
realize profits was inaugurated. December
wheat opened about higher a + 5Q3. q
to $3.50, and in about thirty minutes it was
up to 6las46l12c, and after reacting to 611sc, it
rose again TO its previous highest price,
with one sale at 6112c. a good many took
profits on the advance and caused the price
gradually to work back again to about the
opening figures, but below that there were
no sellers. After several fluctuations in the
last hour between 607sq61Ac the market
finally closed at 60b061c. The closing ca
bles gave Liverpool at an advance of Id
per Genital for both spot wheat and futures.
New York reported ocean vessel room n
gagged for 10 boatloads of grain, but did not
specify how much of it was for wheat
but it is positively known that at least 26
strong probability of much more
Corn was firm and sold somewhat higher.
The market was largely Influenced by the
strength in wheat and also by the fact that
the local receipts were 10 cars below the
estimate. There was some covering by
shorts on the strength the market dis
played, but business on the whole was mod
crate. May opened shade higher at 245sc,
advanced to 247sc and closed steady at the
opening price.
In oats quite fair business was done
shortly after the opening, but it got pos
itively dull later Prices ruled firm at
slight advance, the prevailing influences
being the strength of corn and the cash
market. May opened 1c higher at 100, adj
vanced to 1880, and closed steady at 10
Q191sc.
Trade in provisions had nothing to distin-
gulSh it from any of its recent dull ses-
sions. The general tendency of prices was
downward but there was a stiffening of
the market for time when wheat was at
its strongest. In the end pork and ribs
showed trifling loss for the day and lard
q slight gain, January pork closed sc
lower at $672h: January lard .0215c higher
at 3: 1212d3 Toe; January ribs, .021ac lower
at 3.35c.
Estimated receipts for Friday: Wheat 145
cars; corn, 400 cars; oats $40 cars; hogs
%. 900 head.