The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-10-26
WHEAT LOST NEARLY &C
BULLS UNLOADED WHEN CABLES
SHOWED LOWER AT LIVERPOOL.
Scmi-DemOralized Market for the
Leader Dragged Down ether
Grain and Provisions.

CHICAGO, Oct. A.-The wheat market
got back into the sixties to-day under
INSTRUMENTATION of holders, who were
nonplussed this morning at finding Liver
pool opening cables showing a decline of
212d in the face of our advance yesterday.
The market was extremely nervous all
through the session, but with steady
downward tendency. About the only sup
port given to prices was by holders of puts
and the few lucky ones who stood short
over night December wheat at one time
showed a loss of &c from yesterdays close,
but recovered s4c near the end and or an
advance at Paris equal to 2G3c per bushel.
Corn and oats were comparatively firm on
big cash demand, showing declines at the
close of &c and sc, respectively. Pro-
visions were firm, closing about I'M
changed on hog receipts of $1,000 and big
cash transactions in products.
The price of wheat prevailing at the close
of yesterdays session was 73c for Decem-
Der. The first transactions this morning
We're at 707sc down to zoe. A sale or two
in the confusion of start made at
6934c, and very little at that moment
brought over zoe, but in the course of the
next half hours business there was
gradual advance to 707sc. Besides the dis
couragement of the decline at Liverpool
the heavy movement of spring wheat in the
Northwest again held up it's hands for
recognition, and some eyes turned to its
contemplation that had previously been
steadily looking in the direction OF India,
Australia and Africa, away over the mat
tiers OF more Immediate concern which were
daily occurring. Minneapolis and Duluth
with S35 Saturday of the week before and
Lilo the corresponding day of last year.
bered 7,o49 carloads, against 6,664 the
previous week and 1880 Il year age The
cialiy reported were double those of the
week before, but were still only $4,000
bushels. New York reported that English
houses were free sellers of wheat there at
the opening, but that numerous buying or
ders from the continent were executed at
the same time. Many well-informed men
thought the Liverpool decline was en-
gineered from here by leading elevator in
terests to lessen the strain on them for
margins on their hedges. December, after
holding steady for a Tune around 7O7sc, de-
clined regularly TO 69c. Then followed a
rally to iUc, with reaction to $3.50 at the
close on continental cables indicating ad-
vances at Paris, Berlin and Antwerp.
Tne corn market was remarkably firm,
considering the weakness in wheat. May
started at from 277sc to 2lAc, sold at 279sGp
2la.c. recovered to 2S14c and closed at that
after ups and downs between that price
and CSC. The outward movement of corn
was immense-about 724 900 bu shipped from
here in the last twentyfour hours and
1881 goo bu from the seaboard to Europe
for the week.
Like corn, oats closed shade lower, but
when compared with the weakness in
wheat were relatively firm. a good de-
mand existed from shorts, also from the
outside, and offerings We're light. The lat
ter part Of the session was of rather diff
ferent nature, and prices fell, but rallied
again before the close, and showed but "a
small loss. May opened at 211sc, sold up to
21Ac, dropped off to 213sc and offered
at 2112c at the close, showing a decline Of
&c since yesterday.
Provisions were not affected to any ex-
tent by the market in the wheat pit The
offerings of hog products We're quite in
considerable, and while bid for
much there was no trouble in placing the
small offerings. The business was nota BILE
for nothing but its quiet firmness. The run
of hogs was $1,000 head. January pork
opened at from $3.50 to $685. rose to $685.
and closed it did yesterday, at $7S71a
Lard and ribs each pursued a similar
course. closing in the end at the same
price on the day before.
Estimated receipts for Monday-Wheat
220 cars; corn, 9o3 cars; oats, 40S cars; hogs,
10000 head.
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