The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-01-31
WHEAT | LAC HIGHER
BEARS STRUGGLED HARD, But
WE'RE BADLY TOSSED IN THE END.
Corn and Oats Advanced slightly,
with the Leader - Provisions
Weaker and Lower.

CHICAGO, Jan. 30.-Wheat was the GEN.
ter of attraction to-day. and was boiling
hot all through the session. Bears again
had decidedly the worst of the struggle
wheat closing about 1Ac higher than yes
terday's close. Corn and oats each gained
&c. Provisions were weaker, pork, lard
and ribs closing 213c lower.
Wheat was very nervous The early En-
glish cables were higher, and there were
strong continental markets. with good out
side buying, which started shorts to COW
ering, and there was an early bulge to
65lsc. after having sold to 641kc. But when
the most pressing orders were filled there
was a halt in the demand, which started
some realizing and short selling. and the
weakness was evidently helped along by
manipulation in the interest of some of the
big operators, and the price went to 64Ac
The market turned at this point, when
some of the big sellers early began to
cover and the market started upward. The
news, too, turned bullish, while the inter-
est increased and developed into excite
ment, under which. there was rally of
nearly 1%c from the low point. There had
been a considerable short interest created
during the first hour or two, and In the
rush to cover which followed the price
went up to nearly Csc. Minneapolis wired
that considerable quantity OF wheat mad
been taken there for prompt rail ship
ment to Boston and ultimately for export
California wired that her stocks had been
reduced 100000 blu during the last two
weeks. The mills are starting up at Min
neapolis, and the flour sales this week
were reported at $4,000 brls. A close CAL
culation was said to show that the mills
were using 2S0 cars of wheat day, and
when all were started as they will be next
week, they will require $50 cars a day,
leaving very little of current receipts for
fl,xae rol fr0h a n no h IU
turned active buyers as the session ad-
vanced, and there was little wheat for sale.
May opened about ssc higher at 6i&4c, sold
at Size then to 65BG66c. and at noon was
655sc. The market was nervously strong
66asc, finally closing at 6574c. Trading all
day was extremely heavy.
Corn was moderately active and firm,
but the greater part or the strength could
be traced to the advance in wheat. May,
which closed yesterday at So1sc bid. opened
901sc, rose again to 3OasQSo1ac, and closed at
3014G303sc.
The market for oats was quiet, with the
feeling firmer, following the strength in
noticed May opened &c higher at 2Ac;
sold down to 21c, advanced to 21ssc, and
closed at 21A@21Ssc.
The provision market was dull and in
clined to be weak. but the strength OF
wheat lifted the price a little near the
close and left only fractional decline as
the net result of the days business. May
pork opened 21lc higher, sold off to 1880
and closed at $1e.57leolO6o May lard
opened 02lsc up at 5.92c and closed at
5S71zc. May ribs opened unchanged at
53715c, closing at 535c
Estimated receipts for Friday-Wheat, IS
cars: corn. Ais cars; oats, lso cars hoss'
1900 head ..,,o