The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-08-26
WHEAT BOOM ALIVE YET
SEPTEMBER UP sc, GAINING NEARLY
ALL OF TUESDAYS LOSS.
Chicago Bulls said to BE "StnndfnE
Pat" and Refusing to SeII-Other
Markets Active.

CHICAGO. Aug. 25.-Nearly all of yester-
days decline in the grain pits was recov-
cred to-day. The bull pool made its
strength apparent in September wheat and
advanced that option sc per bushel. while
December advanced Sc, partly on account
of the upward rush of September. but prin-
cipally on account of the bullshness of the
days news. Corn was even. more active
than wheat and closed at 11k61Kc advance
Oats advanced 12c. Provisions were unu-
sually strong and showed advances ranging
from 1212c to SOC at the close
How strong a hold the bull clique had on
September wheat was shown soon after the
opening to-day. The opening was decidedly
strong. though this was due more to the
bullish nature of the early news than to
squeezing" September was quoted at the
opening at from $500 to 93%c, compared
with yesterdays closing price of 91$4c. and
touched 94c almost Immediately after 1t
dropped back to 9212c and then it was that
the spurs were put in. Offerings of Sep
TENDER ceased almost altogether, the bull
crowd apparently sure of their position
standing pat" and the price jumped and
kept jumping until about II o'clock it had
reached 97c. Traders in December had not
been idle in the meantime. That option
started at 91Q911Ac. an advance of $t@1Ac
from yesterday, touched 92c, went back to
9Ol@c, then went on the run to 94c There
was a slight interval of weakness about an
hour from the opening when the New York
market yielded, but the slight decline oc-
caSloned was quickly recovered, Liverpool
showed decline OF Sd to 312d but recoV-
cred part of that later. New York wired
shortly after the opening that foreigners
were buying wheat and houses here who do
business for foreign spectators reported
they also had buying orders from abroad
In the course of the forenoon it was found
that one firm in New York had sold fifty
boatloads, or 400 COO blu for export but much
more satisfactory evidence of the European
demand was that the actual shipments
from Atlantic cities since yesterday morn
ingS report were 912 900 bu, without taking
account of the flour, which was 1000 bar
rels. Chicago receipts were 229 cars, but
only twenty-five of the number We're con-
tract. Minneapolis and Duluth received 173
cars, against ABS, the similar day of the
year before. The market extremely
nervous at the end. Fluctuations of Zee
per bushel in September between trades
were frequent, December made jumps and
plunges of Ac without apparent reason be-
yond attempts of brokers to buy or sell
more than 10000 bu at a time. The CONT
mental markets were weak. Paris closed at
decline in wheat of from Use to 23sc per
bushel and Antwerp was l franc down, or
the equivalent of SIC per bushel. Liver
pool closed I'd per Genital lower for the day
on spot and from 22sd to 234d down on flu
96%c; December, 93Ac.
Trading in corn was heavier than wheat
in the quantities that changed hands al
though fluctuations were much narrower
AT the outset there was another new lot
of selling by the pool which was supposed
to have sold out yesterday, the quantity
let go of to-day being estimated at 1000, 600
Notwithstanding this. the market adj
Vanced, the demand being general elevator
people who were sellers yesterday being
especially heavy buyers Crop reports were
for the most part unfavorable Gables
opened weak, but recovered part of the de-
cline Receipts were large, lib cars. Sep
TENDER opened sc to 5sc higher, at 2S12U29c
advanced to 30c and closed at 295sQ29Ac.
December opened irreglar, from &c lower
to re higher, at 30Ac to Bic. 1t advanced
to &c and closed al 315sc.
Oats were rather easy for a while after
the opening and some nervousness was
shown. The market firmed up later with
wheat and on the belief that the bull
crowd is still holding it's line. A feature
was the light offerings which at times
made it difficult to fill orders. Commission
houses were good buyers. Receipts were
462 cars. September opened unchanged, at
1880. sold between 1850 and 1880, closing at
1S7s019c.
Market for provisions attracted consider
able attention and the feeling was decidedly
stronger, mainly in sympathy with the
grain markets. The market opened firm
side orders, which were plentiful, and COW
ering by shorts. caused a sharp advance in
all products. The improvement was well
supported to the close The live stock mar
1et was strong. At the close September
pork was zoe higher, at $50; September
lard 121ac higher, at $40 and September
ribs 2719c higher, at $500
Estimated receipts for O-morrOW-Wheat
$50 cars; corn, 1,575 cars; oats, $50 cars
Hogs 5000 head.
go. fAII