The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-09-16
BULLS GRIP RELAXED
WHEAT FELL OFF 7-sC, BUT LATER
RECLAIMED ALL THE Loss.
Corn and Oats Markets Raided and
Small Losses ScOred-POrk
still on u Decline

CHICAGO, Sept 15.-Wheat acted to-day
as if the bull clique had lost it's grip.
Enormous seaboard engagements came to
the rescue and after selling Use below yes
terday's price December rallied and closed
where it left OFF the day before. Sharp
bear raiding in corn resulted in a Aq$sc
decline in the market. Oats closed I'M
changed and provisions unchanged for lard
and ribs to 1Oc lower for pork
Wheat was a puzzle at the opening. 1t
was difficult to account for the 14c advance
with which the market started the Liver
pool market, which usually influences the
opening tone here showing opening declines
of 12Gs4d. It was claimed in dispatch from
Minneapolis that the threshing returns in
the Dakotas and Minnesota indicated
crop for the three States of not to exceed
125 900, 600 bushels, but there was not much
confidence here in such a low estimate.
Paris was reported from 10 to 10 centimes
higher at the opening and the advance here
was ascribed by some people to that. Later
strength quickly failed. December, which
closed yesterday at 9414Q945sc, started to-
day at 9434Q947sc and in two minutes more
it was down to 9314c. There was no Stats
teal reason for the decline; it was appar-
entity due to the lack of support, scarcely
touched. A recovery to SAC then ensued. But
during the next two hours the bearishness
that succeeded the momentary opening
bulge became more pronounced and the
price suffered accordingly. The market
broadened as the price sank and with such
evidence before them that the bull clique
had lost it's grip the short sellers became
more courageous and pressed their advan-
tages. Chicago received 275 cars, of which
20 were contract The quantity inspected out
of store was SO, $50 bushels. Minneapolis and
Duluth received 5S8 cars. compared with
932 the corresponding day of the year be-
fore. Antwerp showed weakness with
decline Of S712 confines or equal to cents
decline for the day of Is per Genital for
futures, but unchanged for spot. About
noon the market grew strong. The price of
December had in the meantime declined to
1924. but from there it picked itself up and
rose steadily to 941@q949sc. The recovery
was due to the enormous amount of wait
ing orders for wheat for export that were
uncovered by the early decline. New York
varied in reports of the actual quantity sold
for expOrt ali the wav from 95 to 200 boat
loads. The close was firm at 941aa945s
Corn lost all the bullishness it displayed
ences combined to cause the weakness. The
break in wheat had some effect. Rain was
reported in some portions OF the corn belt
Gables were 5sQ11sd lower. Receipts of S5S
cars over ran the estimate. December
started 1s@Ac lower at 3lBQ32c: 1t sold
down gradually under vigorous bear trad
ing to 31$sQ3112c, when the revival in wheat
set in and December corn recovered to 1874
Q31sc, where it closed. A sale of 200, 900
bushels for export was reported.
Oats were dull and without special Incl
dents. At the opening the market was weak
with corn and it remained so for some
time. 1t rallied later on the excellent ship
ping demand and closed quiet Receipts
were posted at 296 cars. December ranged
from 211s@2114c to 207sc, closing unchanged
at 21is.
Provisions again suffered from the yell
low fever news from the South. Prices
ruled lower all around for most of the ses-
sion with a good deal of stop loss selling.
On the break there was good covering and
a general recovery ensued. Nevertheless
the market was weak at the close. Deem
Der pork closed 10c lower at $S.15. December
lard unchanged at $3.50 and December ribs
unchanged at $3.50.
Estimated receipts Thursday-Wheat 300
bu; corn, 300 blu; oats, 800 bu; hogs, 10000
head.