The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-01
NEWS WAS WEAK
INCREASE IN THE WORLDS VISIBLE
INSTEAD OF A DECREASE.
Depressing Influence Extended to the
other Corn. Oats and Pro-
visions All Closing Lower.

CHICAGO Aug. 31.-Large Danubian
| shipments and an increase in the worlds
visible supply, where a decrease was eX-
pected, were sufficiently depressing to
wheat to-day to cause a decline of CSC in
| December. Corn and oats shared in the
depression and closed CSC and lac lower, re-
spectively. Provisions suffered too much
hog and closed 5a1212c lower
Wheat at the opening was rather weak
| because of a reminder in the cabled infor-
nation regarding the worlds shipments
that they were about 1000, 600 bushels last
week, as compared with about 100000
bushels the previous seven days. The
heavy imports of gold which had been pro-
vided for and the steadiness of the foreign
markets, Notwithstanding the heavy ship
ments of wheat and flour last week,
Steadied the price at about lac decline from
Saturdays closing figures. The absence of
any fresh buying orders from abroad or ac-
ceptance of offers cabled from this side on
Saturday brought the trade face to face
with the fact that under present circum-
stances the price is more than usually de-
pendent on what foreigners are willing TO
pay. December started at from 607sc to 60c
and gradually worked down to 59&4c, but
was fairly steady again at about 61c at Il
o'clock. The receipts here were POS cars,
Of which eight were contracts. Minneap-
oils and Duluth receipts were S64 cars.
Owing to the corresponding day of last
year having been a holiday, no comparison
OF the two days, receipts can De instituted;
-four reported since Saturday was equal to
24S, 900 bushels. The visible supply state
ment was a great disappointment to the
bulls, and prices were Immediately af-
fected. 1t showed an increase OF $4,000
bushels, where a decrease of that much or
more had been expected. The total III sight
is Is, 574, 600 bushels, against 81, 43S, 600 a year
ago. The amount OF wheat and Hour on
ocean passage increased 1,o4O, 900 bushels.
India only contributed 16, 900 bushels to the
weeks shipments. The Danubian coun-
tries, however, gave credence of having
had a good crop. Their shipments We're
1,904, COO bushels, compared with 936, 600
bushels on the previous week. Some in
quiry for cash wheat for shipment de-
veloped to-day, but the elevator people had
evidently more use for it in store than for
named a price asked 1c per bushel in store
over the September price for No. 2 spring.
end, i necembe Was s,i Ta1def eff ne anicklv near ta 5 slne
but recovered Ac again and closed at 5934c.
Corn was slow and weak all day. A ia
vorable day, exceptional heavy local re-
ceipts and the action of wheat were all de-
pressing features, about the only sustaining
influence being a decrease in the visible Of
bushels. September opened 1sc lower, at
20Ac, declined to 2o3sc and closed easy at
Oats were slow and easy. but the decline
was slight. The general dizziness in trade
effect. Business was mainly in the way of
exchanging. September opened about 1c
lower, at 15%a16c, declined to 15Ac and re-
acted to 1880, where it closed.
Provisions were handicapped from the
start by the enormous run of shipments,
which was Is, 900 more than estimated. This
started prices at a sharp break. This was
mostly recovered later, but another break
occurred near the close, and final figures
of grain markets was somewhat of a fac
tor. September pork closed 10c lower at
September ribs .121sc lower at 3.O71he.
EstimateS for Tuesday-Wheat. go cars;
corn. 20 cars; oats, go cars; hogs, Is, 200
Leading futures ranged as follows.