The Indianapolis journal., 1896-08-28
WHEAT PRICES LOWER
DEPRESSION THE CHARACTERISTIC
OF CHICAGO MARKETS.
Corn Went on i'm Sympathy. Scoring
New Low Reccrd-POrk Re-
covered Early Loss.

CHICAGO. Aug. 27.-Depression was the
leading characteristic of all the speculative
markets to-day. December wheat closed
&c under yesterdays figures Corn de-
clined sc and oats &c. Provisions man
aged TO regain the early losses and closed
from 21kc lower to 71ac higher.
The natural buoyancy of the wheat mar
ket shows itself every morning. 1t started
at an improvement over yesterdays clos
ing price of from Ac TO CSC. In few min
utes it's advancing tendency was checked
and its buoyancy turned into unnatural
heaviness. December wheat opened at
from 601sc TO 60c. and during the forenoon
it declined 1e bushe. getting down TO 59isc
about IL 80 o oclock. The opening strength
got its inspiration from the reported order
ing of gold from abroad by two Chicago
banks and TO frost in northern Minnesota,
which, it was presumed would damage the
late sown and still unripe spring wheat in
that region. The failure or the New 1Ork
wheat market 10 respond 10 the opening
ADVANCE mere was ine hFst Gauss cause d rbu
decline at Berlin OF from 2l2 marks for
near deliveries TO 112 marks Tor the later
futures, was another contributory reason
The stock market was stagnant and the
additional revelations in the Diamond
Match scandal had a tendency to make
the local financial situation more unsat-
iSfactory. The failure of a small local
bank announced and also served to
increase the distrUst and apprehension
Chicago receipts were 15S cars. OF which
eight were of the contract grade. Mime
apois and Duluth received 4S6 carloads
against 6S9 cars a year ago. Exports from
Atlantic ports in flour and wheat were
equal to $4,000 bushels. Brsdstreet cor
rected the report of Tuesday last on the
changes during the week in the world s
visible supply from an increase of $4,000
bushels to a decrease of 1000 bushels
This, when announced, caused a rally to
n mi 10 lCfh ArsaO ~
rary. Steady and persistent liquidation
soon sent prices back and the market re-
manned weak at the close. Final figures
for December were 59l4Q59ssc.
Corn continues to stump and made an
other new record, selling or ssc below
yesterdays close. A heavy business was
done, much long corn being sold out. a
good deal of short corn covered on the
decline and some good sized lines taken on
by fresh buyers for long account. Sep
tember opened q shade lower at 2lc, de-
clined to 202sc and closed at 209sQ2O%c.
Oats were steady for time, and. in
fact, this was the only market exhibiting
any buoyancy. The depression IN wheat
and corn, however proved too much to
bears and prices were 1s4Ac lower at the
close. September opened 1sc lower at l5sc,
advanced TO lea 16lsc and declined to 15$4gI
151sc, where il closed.
There continuation in liquidation
in provisions to-day, especially In pork.
which suffered considerable at the outset.
The weakness of corn and heavy hog re-
ceipts caused a weak opening Light Of
ferings of lard and ribs made a better feel
ing late in the day and prices recovered
the early loss, the close being compara-
lively steady. September pork closed Il2c
higher at $3.50 September lard O215c lower
at 3.27lzG3.30c and September ribs .05c
higher at 320c.
Estimated receipts for Friday-Wheat. $50
cars; corn, 7c5 cars; oats, 800 cars; hogs
600 head