The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-08-10
BETTER WHEAT PRICES
CHICAGO MARKET HIGHER IN SYM
PATTY WITH FRENCH CABLES,
Corn Was Benefited Some by Firm
ness i'm Wheat, but Oats and Pro-
visions Closed Lower.

CHICAGO, Aug. 9.-Both bears and bulls
had a turn in the wheat market to-day and
the bulls came out on top. The reappear-
ance of the crowd known as 1.-The July
clique" on the long side was the principal
feature of the day. September wheat gained
1AG13sc. Corn received some help, too, and
advanced &c.
Oats were heavy and lost &c Provisions
were dull and featureless. Pork declined
712c and ribs SC. Lard closed unchanged.
Wheat opened firm to-day, 1s@3sc higher
than it closed Saturday, Notwithstanding
$4d decline at Liverpool to begin with.
Paris was higher however, and mail ad-
vices from Europe were exceptionally
bullish. Reports from the Northwest were
not SO rose-colored as they had been and
generally the news of the day favored buy
ing rather than selling. The visible de-
creased 164,O00 bu nc withstanding the
heavy receipts of the last week at the pri-
mary markets. In connection with the WISH
BILE supply statement the fact of Kansas
City having increased stocks only 900 bu
and Toledo having been decreased Sc. 900 bu
Notwithstanding Inc very heavy receipts at
both places the last week, was a subject of
general remark. "a fair cash business was
DONE 10000 bu here and fifty boatloads at
cars and the out inspection was 307 000 bu.
The amount on ocean passage increased
100000 bu. The worlds shipments to Eu-
rope last week 5,020,0 00 bu against
5,lO3,OOO bu the week before and ASH 600 bu
the corresponding week last year India
contributed "a 600 bu to this weeks total
The Atlantic port clearances of wheat and
hour were equal to $50 COS Du. The closing
cables reported Liverpool only I'd lower
than Saturdays final quotations. Paris was
IL confines higher for nearer and 80 CEN
times lower for later deliveries.
1t was generally supposed, however, that
the quotation for re November February
term at Paris Saturday quoted in error l
franc too high and that instead of so CEN
times decline, the price cabled to-day was
~ confines higher than the true closing
price of the last week. The general ten
dency of prices was downward up to about
II clock, about which time the bullishness
that prevailed for short time around the
opening began once more to assert itself.
The news of the day was all in before the
price started on its second advance and the
bears meantime had parted with a good
deal of wheat. The price of September,
which had sold early at 76c, declined to
153sc on adVcesS from the seabord that
foreigners were reselling cargoes there.
Outside markets were strong and the bulls
took hold with renewed courage. Chicago
shipments amounting to over 500, 900 bu was
the strongest bull card, and was used in
putting the price of September to 77Ac with
a rush. September opened B03sc higher, at
15A076c, sold off to 1880 advanced to 771sc,
closing at 767sGI77c.
Corn was duh and inclined to drop until
strength Encouraged by the latter cir
cumstance, it recovered slight loss made
in the forenoon and closed with a gain for
the day of 14c per bu. Receipts were heavy,
but the inspection included Sunday work
on the three principal cOrn-receiVing rail-
roads. The number inspected into store
was 1,403 cars and the out inspection 465, 900
bu. The visible increased $4,000 bu and
now amounts to 1851 600 blu, against r. 1885,,
600 blu a year ago. The amount on ocean
passage increased 1900 600 bu. Exports
from Atlantic ports were 1926 bu. Sep
TENDER opened unchanged to a shade lower,
at 26H Q264sc, sold between 26Ac and 2634c,
closing at 265sc bid, a net advance of Ac.
Trading in oats was dull, with fluctua-
tons following corn. The heavy receipts of
LOCO cars caused the weakness in the cash
article and Influenced speculation. The Visi-
BILE supply showed an increase of 5000 blu.
September opened 1sc lower, at 1612Q165sc,
sold at 16I2016%c closing at 1880.
Trading in provisions was on limited
scale. The run of hogs was 81, 900 and prices
were SC higher. The packers sold moder-
ately the opening advances and estab-
lished a slight reaction in pork and ribs.
Lard held steady. September pork opened
212c higher at $LS0@7S5 sold to $7.65, react
ing to $40. September lard opened 51ac
higher, at 1872, sold off to $4.25, closing
with buyers at that price. September ribs
opened sc higher, at $3.50, declined to $4.670
40, closing at $40.
Estimated receipts for to-morrow-Wheat,
275 cars; corn, 1150 cars; oats, 700 cars;
hogs, 1900 head.
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