The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-09-04
ALL MARKETS DECLINED
THE Loss IN WHEAT DUE TO WEAK
NESS IN FOREIGN PRICES.
Toward the Close Tired Feeling
Seemed to Pervade All Grain and
Provision Speculation.

CHICAGO, Sept. 3.-Wheat to-day suf-
fered, in sympathy with a decline in for
eign markets, December closing 1s4c below
the level of yesterdays final figures. Other
markets were also afflicted more or less
with that tired feeling" corn closing $50
12c lower and oats 1sQAc. Pork lost sc and
lard 711Q1Oc. Ribs were unchanged.
Wheat started weak. The opening prices
at Liverpool were at a decline of lad, and
the start here was in accordance with the
bearishness denoted at the English market
December was offered at the opening from
93c to 9S12c, or 1q112c under yesterdays
close. The bulk of the first transactions
We're at from $3.50 to 9S1ac and fluctuations
were close around the opening figures for
three or four minutes. Following that for
half an hour there was a gradual improve
ment until $3.50, or within 1sc of yesterday s
closing price, was reached. A dispatch from
New York reporting 10000 bushels of
wheat taken for export yesterday after
noon was given as the reason for the firm
ness shown in the recovery referred to. The
very slight addition to the contract wheat
here out of 27S carloads inspected into
store since yesterday morning, was per-
haps in the minds of the spectators Only
six carloads were contract, and of these
five were No. 2 spring wheat, a grade that
cannot be delivered contract made to-
day for any delivery beyond the present
month. minneapolis ana Duluth received
4oo cars, against S4S on the corresponding
day of the year before. The advance
reached S41sc, and then lc of it was cropped
IN lew minutes, $500 being the next stage
OF the fluctuations then up again to 949sc
IN equally sudden manner and back once
more-slowly this time-to 1886. The fuc
tuatlons, although sudden, We're not accom-
panied by mucn trading. ScalperS were
startled Sudden changes h.
drew from the market, and their absence
added to the difficulty commission houses
experienced in finding buyers or sellers
when they had orders to execute. New
York wired early in the day that the for
elgn demand was renewed and $50 loads en-
gagged by 10 o'clock. The Atlantic port
clearances of wheat and flour were $4,000
bushels in wheat and Hour 6S1, 200 bushels
of it being in the shape of wheat. The mar
ket became very weak near the close, and
while the scalpers would not touch it early
IN the day except in the most ttmid and
elnsSIy manner, tney quIGhIy caught on 70
the fact that 1t was not being adequately
supported near the end and sold freely. De-
cember declined to 925sc and closed at 924c
The closing cables had much to do with the
weakness displayed late in the session. Liv-
erpool closing 1@19sd lower and Paris the
equivalent of %Q1asc. Antwerp was I'M
Trade in corn was less active and the vol
ume of business much smaller The feeling
early was weak, due largely to the lower
cables, the weakness OF wheat at the start
and to liquidationS by recent buyers. Offer
ings, however, were not large and were
we'll taken, several of the larger commits
sion houses leading in the buying, and
when wheat turned up corn sympathiZed,
many of the early sellers covering, which
aided the advance. Weather in the corn
belt, with the exception of some local rains,
was dry and warm and drought damage re-
ports were numerous. The market eased
off later on expectations of heavy receipts
early next week the decrease being ac-
CELEBRATED by the late slump in wheat. Local
receipts were 1,15S cars. Atlantic port clear
ances, 9SS, 416 bushels. December opened 4c
lower, at 34A@341ac. 1t ranged between
32Ac and 331sc closing at 32$sc.
A fair trade was done IN oats. AT the
opening the market was weak, in common
with corn. The feeling was changed to
firmness later, only to grow weak again to-
ward the close. There was good buying on
the advance, about the only time the mar
ket showed activity. The tone was entirely
dependent on corn throughout Local re-
ceipts were 352 cars. December opened 1s@
14c lower, at 2014c. sold up to posse and down
to 201Ac, closing at 201k@2014c.
Trade was quite active in provisions dur
ing the early part of the day. Offerings
were quite free, in view of the weakness in
the hog and grain markets. while the de-
mand was only moderate. An easy feel
ing prevailed and prices ruled lower around
the opening. Later the demand became
more active and improvement followed,
which was lost when wheat and corn went
down. Packers were all sellers. AT the close
December pork was &c lower, at $S.9119;
December lard, 71RG10c lower, at 1850
4S715 and December ribs unchanged, at
$50.
Estimated receipts for Saturday-Wheat.
425 cars; corn, 1900 cars; oats, 420 cars;
hogs. $4,000 head.
f,.AVt Ocs fnll