The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-08-27
PORK AT $685. A BARREL
UNHEARD-OF LOW PRICE SCORED
ON CHICAGO BOARD OF TRADE.
Other Markets Suffered in Sympathy.
wheat Closing at 1-2c Decline
for the Day.

CHICAGO. Aug. 26.-Provisions and corn
continued on their record-breaking down.
ward course to-day. September pork sold
at one time at the previously unheard-of
price Of S5.35 a barrel and closed u cents
below Yesterdays close. Corn shows a de-
cline of &c. a new low record. Wheat suf-
fered from persistent liquidation and closed
&c lower. Oats showed some degree OF
frmness and closed unchanged.
Wheat had a good deal to depress IL at
the opening. Cables were barely steady and
the money market showed no perceptible
Improvement. The fire at Ontonagon,
Mich, which resulted in the destruction Of
the Diamond Match Company's plant. had
a decidedly depressing effect on traders,
and the effect of il was reflected in an ex-
ceedingly weak beginning to the wheat
market. December, which closed yesterday
at 60Ac, opened at 60Q60Ac and under the
effects of the liquidation which started at
once. went steadily downward. The decline
was accelerate by stop-loss orders and
selling on exhausted margins and in an
hour December declined to 1850. The con-
tinued weakness in corn and the decline
in provisions also helped to depress prices
and for q time there seemed TO be no eff
fort TO check the downward movement.
Late, however, the sentiment underwent a
sudden change and during the good buy
ing which followed the early loss was
quickly recovered. The basis for the i'm
provement was found in the enormous
clearanceS from the seabOard yesterday,
amounting to over 0 1900 bushels in wheat
ana flour. This developed confidence and
there was covering by the early sellers and
buying for the long account resulting i'm
nearly all the early decline being recovered,
which opened steady at yesterdays clos
Ing prices, came led lower at the close.
Paris was also very weak, showing a de-
cline equal TO 1lac in September and sc per
bushel in November. The advance had
meanwhile brought out heavy realizing and
prices declined again, December touching
59l2c. The closing weakness of cables and
low prices for corn kept the market ner-
at 59Ac.
Corn was fairly active, but weak. Septem-
Der showed the most depression. There was
active liquidation in that month and it
made a new record for cheapness. May
of September generally bought May. Crop
reports were almost invariably favorable
ana the eakne of cables was also a. de-
pressing factor. September opened irregu-
larly lower at 2114G211sc and declined to p
cents. n closing was weak at 21g21sc,
a full l2c loss.
weakness displayed by the other markets.
The cash feeling was weak and this in
f1uenced near futures. Sympathy with corn
was also influential in the slight decline
which followed the opening. A good de-
mand for May steadied prices and the close
was steady and unchanged. September
opened unchanged at Ice. declined to 153Lc
and closed at Ice.
Provisions repeated their performance
which has been gone through with so often
or late and scored new low records. pork
being especially weak. Liquidation of Sop
TEMPER pork was very free. A weak live
STOCK market and the apparently never
ending slump of corn both contributed to
the weakness There was a slight inn
provement later in the day and closing
prices were somewhat above the low point.
september pork closed Is cents lower AT
S5.42l2. September lard, .0215G. O5c lower at
3.S212c. september ribs. .O5 cents lower at
3.15c.
Estimated receipts for Thursday-Wheat.
$50 cars; corn, 500 cars; oats. 300 cars: hogs
"a. 600 head.
anI;,- f.X.-~-