The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-04-02
THE BEARS ROUTED
WHEAT MARKET DULL, But ALL
NEWS ENCOURAGED AN ADVANCE.
Corn and Oats Were I'm Sympathy md
Scored Gains. While Provisions
Were Firm and Higher.

CHICAGO. April although the wheat
market was very dull to-day. the price was
remarkably firm, and II closed sc higher for
May than it did yesterday. Anxiety regard
ing the crops of Kansas and California, ow-
ing to what many consider the unfavorabfe
character Of the weather prevailing In those
States. was an element In the days strength.
Corn and oats were firm, the former gaining
for May &c and the latter CSC on yesterday
closing rates. Provisions recovered from
their recent depression and made substantial
gains.
Spring sales of wheat were at 3s@azc ad-
vance. and Afterwards prices receded sc.
rallied 1ec, eased off some and closed arm.
The early strength and higher opening was
attributable to the temperance of wintry
conditions in the Northwest and the very
small movements in that section. A blizzard
was reported in the Dakotas. and nhis, IL was
feared, would retard spring work, and then
Liverpool was firm and unchanged which, in
the face of the decline this side yester-
day, was considered strong point, and
helped the market. Another factor which in
duced considerable buying was the report IN
general circulation that the market would
do much better to-day. The out inspection
was the largest in some days, and also i'm
weather was reported on the Pacific coast,
with frosts in parts OF California. The pre-
diction by the Signal Service OF fair and
warmer conditions caused a moderate de-
cline, but the general absence OF any i'm
porlant bear news, coupled with good buying
by leading commission houses, caused the
market TO hold steady.
The market started in at shade
over the prices current at the close or the
previous session. The firmness of wheat and
provisions likewise contributed to the slight
Dnn nf fr1prn n n rx
estimated as the receipts for tomorrow also
helped in holding the price up. The opening
price for May was 2911c, and 1t sold at 299s@
29%c. which was the highest and the closing
quotation.
The session in the oats market was one of
the busiest. and the volume Of business quite
as heavy as has been experienced for some
time back. A firm feeling prevailed. Chang
Ing from May TO July at hQ%c premium for
the latter constituted a good share of the
also a feature. The talk of dry weather was
an effective cause for the advance In prices,
and light receipts also influenced fuctuationc.
May opened at l9SG191sc, sold at 1890, ad-
vanced to 1890 and closed SEC higher at That
price. stEs
The heaviness which has for two days
characterized the provision market was lifted
to-day, and buyers were In the majority.
What is called the English crowd among the
packers purchased ribs and pork to mod
crate extent. They were also said TO have
resold on the later advance. The opening
prices for May pork were at from 10 to 121kc
over yesterdays closing rates, and the latest
trading was at 2713c advance: Lard Improved
.10c for May and .071kc for July, and ribs al
the close were .1oc higher each for both May
and July tff
Estimated receipts for to-morrow--wheat
u cars; corn $50 cars; oats. 100 cars; hogs.
10000 head. fos