The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-12-20
LETTER STILL BUYING
ANOTHER 100000 BUSHELS DELIv-
ERED TO THE YOUNG MAN.
Wheat Market Dull, but Firm, May
Option Advancing-Other Grain and
Provisions Scored Gains.

CHICAGO. Dec. 1S.-Wheat was very dull
but firm to-day. Strong outside and for
eign markets and anticipations of less bear
ish statistics Monday caused some covering
by shorts, resulting in a s4@7sc advance in
May. Other markets also leaned decidedly
toward the bull side, corn and oats advanc-
ing about nc each and provisions closing
21zd715c higher.
Wheat opened very tame, but quite firm,
at about Ac higher than it closed the day
before with May at 91%c. 1t sold few
minutes later at 92c, and for some time held
at 917s@92c. The Liverpool market, which
refused to be influenced yesterday by
Thursdays advance at Chicago, was equal
ly Indifferent to-day to yesterdays decline
in this market. The English market was a
shade higher than it closed the day before.
Some other items of the early news were
also helpful to the firmness the market
showed at the opening, and for the greater
part of the session. The weeks clearances
of wheat and flour, as reported by Brad
street, were considerably smaller than they
have been running for a long time back.
The amount Of the weeks clearances from
both coasts of 4604,OO0 bushels, against g..
100000 bushels week ago and 1929, 900 BUSH
els the corresponding week of the year be-
fore. The Minneapolis and Duluth receipts
to-day were $50 cars, against 6SS last week
and 376 the corresponding day of 1896. Chi
cago received 222 cars, against thirty-five
last year on the similar day. Minneapolis
and Duluth receipts for the week were 633
cars less than they were the week previous.
1t was reported from Minneapolis that 140
cars of the receipts to-day were Armour &c
Co.'S wheat, en- route from Eureka Station
to Chicago. Weather in Argentina was re-
ported more favorable. Beerbohm esti-
mated the worlds shipments for the week
to Europe at S,0000 900 bushels, and expects
G. decrease in the quantity on ocean pas
sage. Minneapolis announced it's estimate
to it's stock of wheat for the week from
900 bushels increase, as reported yes
terday, to from 100000 bushels to 100000
bushels increase. In addition to wheat de-
livered yesterday afternoon for December
contracts, 1,25OOOO bushels were delivered
out to-day by Armour & Co. and paid for
by Allen, Grier and Zeller. 1t had already
been taken for granted, however, by the
trade that all the wheat sold to French and
Letter would be taken care of and that they
have for some time had the money in bank
ready to pay on demand. Outside markets
all showed strength. The days clearances
of wheat and flour were swelled to a total
OF $4,000 bushels by the additional infOrma-
ton that New Orleans shipped $50, 900 BUSH
els of wheat and q, 900 barrels of flour, ar d
Galveston 5000 bushels of wheat. The mar
ket became much firmer in tone near the
close and made it's best prices for the day
then. Shorts covered quite freely and as
offerings were moderate prices moved up
easily. May finally rose to 9211G925sc and
was bringing 9219c as the session ended De-
Cember was dealt in very Sparingly. 1t
closed at 99c, or 19c lower than it did yes
terday
Corn was dull being off a shade carly on
moderate selling, but became strong and
advanced when wheat did. Country offer
ings were reported freer on advanced bids
from Chicago last night. May ranged from
291s@ 2914c and 2S7sc, and closed 1s@Ac higher
at 291sG2SAc.
With the exception of about fifteen min
utes activity toward the close, trading in
oats was very dull. Scalpers and others
sold short early, but covered when wheat
advanced and the market closed strong.
Elevator interests also bought. May ranged
from 223sc to 223sc, closing Ac higher at
225sc.
Trading in provisions was fairly active
around the opening. Small hog receipts and
the presence of some outside buying orders
caused early advance. Subsequently
trade was very light and almost wholly To-
cal, but prices were we'll maintained. At
the close May pork was 5071ac higher at
SS.S212NS.S5; May lard, 213Q5c higher at &70@
APP, and May ribs 21@5c higher at $4.521a.
Estimated receipts for Monday-Wheat,
425 cars; corn, go; oats, $50; hogs, 10000
head.