The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-12-08
MORE TALK OF A'CORNER
LITTLE WHEAT OFFERED FOR SALE
AND PRICES UP lac.
other Grain Sympathized with the
Leader and Closed Ffrm-Provi-
sicns Slightly Weaker.

CHICAGO, Dec 7.-Outside of sensa-
tional squirt in December wheat which took
place shortly after the opening grain and
provision markets were dull and uninterest-
ing to-day A jump of &c in December on
an attempt to buy about Il, 900 bu strength
ened the belief that that option is very Sc
curely "cornered' 1t closed 2Ac higher.
May was firm all day and closed 5sQ34c
higher. Corn and oats closed fairly steady.
at substantially yesterdays prices, and pro-
visions closed a shade lower all around.
Wheat started off in a whrl of excite
ment. Opening sales of both December and
May were at practically last nights clos
ing figures-96c for the one and sec for the
other. 1t soon developed that there was
some December wanted, undoubtedly to fill
shorts, with none offering. On this account
the price advanced at once, December get
ting to 99c and May to 9014c in the first fif-
teen minutes of the session. The alleged
bull clique stopped the advance by selling
only a small lot, less than $4,000 blu, the big
premium over May-about &c per bu-being
against it's policy, because, If allowed to
stand, it would turn wheat marketings all
this way. So the price fell back to 971sc
for the one and S934c for the other. Before
the regular session commenced the feeling
was nominally weak because of a decline of
%d at Liverpool and A@A confines al Paris.
Northwestern receipts were also considera-
bly, larger than last year. but nearly 300
cars less than Tuesday of last week, the
arrivals to-day being 7O4 cars, against 4S2
last year and 1,O4O last Tuesday. The trade
had in mind two stirring facts, however
-one that the alleged bull clique had been
big buyer Of calls Monday afternoon, and
the newspapers told of freight room being
engaged at Boston for 900 bu of whea,
for January and February shipment. This
was construed to mean that when the line
of December wheat was delivered to the
bull clique here it would ship it abroad, by
all-rail, to the seaboard If the water route
were closed. 1t was Semi-Ofticially given
out that the short line for December i'll
tie market was over ll,UOO,000 bu with less
than 100000 bu of contract in store here
to-day. May was Well supported at Sya4C,
tie enormous export clearanceS-73S0 900 bu
of wheat and $3.50 brlS OF flour, an eQuiVa-
lent OF 1052, 800 bu Of notwithstanding TO
create nervousness on the part of the shorts
and report that France would yet require
81, 00O OC0 bu of outside wheat was not cal
culated to aIlay this feeling. Primary re-
Ceipts at Western points we've $4,000 blu, but
the shipments were also large-S4l 900 blu,
and nearly 800 600 of it from Duluth, all al
the latter point having been sold to Chicago
elevator men, Eastern shippers and export
erS. AT II o'clock May was soc and Decem-
Der 9S12c. Up to within fifteen minutes OF
the close the market held very tirm, with
narrow trading. Efforts were then made 10
break the price below calls and May was
sent down TO $3.50, closing at o97sQSSs4c bid.
December closed at 9SAc.
The corn market was dull, but firm, ali
day, mainly in sympathy with wheat Oh
terlngS were more moderate and the demand
from shorts more general, which kept prices
a fraction higher most of the session, There
was some buying in expectation OF a re-
action after the recent decline Receipts
were liberaE-654 cars. The visible supply
figures were corrected to read 1,lO5OUU o.
decrease, instead of 2,109 900 bu, as officially
announced yesterday. Ciearances were &c.,
UC0 bu. The close was easier, following the
little break in wheat near the end. May
ranged from 2S5sG2834c to 2Sssc, closing
shade lower, at 26asdrzo1ac.
oats were hrm and higher. The market.
however, was extremely dull and Withou
interesting features. The strength in wheat
trade, to cause prices to advance. Eleva-
tor concerns and commission houses did al
the buying, while all the selling was scat
tered. Receipts were posted at OY7 cars.
Seaboard clearanceS were 900 blu. May
Hanged from 2214c to 22QE221sc, and closed
shade higher, at 221sc.
Provisions, though very dull ruled firn
and little higher until the. close. Re-
celpts of hogs were smaller than expected
ana this, with a fair local and outside de-
mand, caused a slight advance. Toward
The close the market became easier OF
realizing by local operators and the advanc,
was lost. January pork closed 212c lower,
at $780, January lard a shade lower, ),
S4.271204.30, and January ribs shade lower,
at $4.22u425.
Estimated receipts for Wednesday =
Wheat, 245 cars corn, $50 cars; oats, 81,
cars; hogs, 800 head.
Leading futures ranged as follows: