The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-01-29
BEARS CONTROL WHEAT
ANOTHER 1910 KNOCKED FROM
PRICE OF AT CHICAGO.
All the News FavOrs the Bulls. and
the OBSERVATION-DISCLOSURES
visions Scored Losses.

CHICAGO, Jan. 2S.-Wheat got below 15c
to-day for the first time in many weeks
and closed at a decline of lac for the day.
The news rather favored buying instead of
selling. but liquidation and short selling
was heavy nevertheless and brought about
the decline. Corn and oats were compare
lively firm, but declined about isc each.
Provisions lost 212d712c.
Wheat opened rather firmer than it
closed yesterday, though at substantially
unchanged prices, the additional strength
coming from the first Liverpool cable
grams, which quoted that market steady.
A private cable said the previous decline
had brought out buyers. Buying was pretty
general at the start. May advancing in the
first half hours trading from 1850 T6a4c,
the starting point, to nc. Besides the firm
ness of the cables the small receipts at
Chicago and in the Northwest tended to
strengthen the hands of holders. Receipts
here were 20 carloads, against 115 a year
ago, and Minneapolis and Duluth received
1S2 cars, compared with 252 or the corre-
spending day of the week before and 491
cars last year. After the early buyers had
been satisfied, however, the market turned
weak, although there was no apparent rea-
son for il, the news which came in during
the aay 6eiH 9or IeT renorfed on eo q ou nnntinanfaI
L@kOL - 1OaA
demand for wheat and San Francisco re-
ported sales of wheat for France and flour
for Australia. One hundred and fifty thou
sand bushels No. 3 spring were sold here
for prompt rail shipment to Baltimore, and
New York wired that 5000 bushels Man.
itoba spring wheat had Solu there Tor ex-
port at May or June shipment. In the face
of this May steadily declined, reaching
75Ac about half an hour from the close.
Then liquidation on a large scale set in.
During the closing moments a number OF
stop-losS orders were ca1ght depressing the
price to 741sc, where 1T closed.
Trade in corn was comparatively neavy
and a general covering of short lines held
the market in the face Of heavy selling
caused by the weakness in wheat. The ag-
gregate of the short corn covered would be
difficult TO estimate, but it was so univer-
sal that the quantity must have amounted
to several millions of bushels, exports from
Atlantic ports being heavy, the quantity
being $685. 1853 bushels. May opened un-
changed at 23sc, advanced to 241sc and
declined TO 2324G23Bc. where it closed.
Oats We're fairly active from start to fin
ish. Shorts were urgen buyers during the
early part of the session., but the sharp
slump in wheat changed the feeling and
the early buyers became sellers. May
opened unchanged at 17$d114c, sold to
173sc and dropped off to lIl2c, which was
the closing price.
Provisions enjoyed a fair amount of bus
mess. Prices at the start were a shade
expected. During the last hour. however.
liquidation on quite an extensive scale
broke prices sharply. At the close May
pork was 71Ac lower at S1.7712; May lard
unchanged at $3.9543.9712. and May ribs
about 219c lower at $3.97l2G4.
receipts for Friday-Wheat, Is
cars; corn. 220; oats, 1870; hogs, 1000 head.
Leading futures ranged as follows.