The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-03-25
MARKET ON CLUTCHES
TRADING SLOW AND WEAK, WITH
WHEAT CLOSING = LOWER.
Little Support in Face of Continued
Crop Damage Neutrality-suspicious.
Firmed Up mt the Close.

CHICAGO. March 2i-Speculative bust
ness in grain seemed to go on crutches to-
day, 1t was so hating and slow. Wheat
declined I2dSsc chiefly from lack of sup
port. Corn closed unchanged and oats a
shade lower. Provisions showed some
strength. a general advance of 21ac being
recorded.
Wheat was weak at the opening and for
an hour afterwards the bears had almost
complete control of the market. The early
Liverpool cable came I'D higher. but half
OF this was subsequently lost. The trade
was somewhat disappointed in this, as it
was only a feeble response to the bullish
sentiment which. ruled here yesterday and
discouraged those who were expecting for
eign help in putting prices up. The weather,
too, was regarded as favorable. Their abid-
ing strength, however. came from the sea-
board reports, reiterating the stale cry of
no demand for export. That was empha-
sized by small clearanceS of wheat and
-four from the Atlantic seaports in the last
twenty-four hours, the total amounting to
the equivalent of 10000 bushels, and of that
total 100000 bushels was wheat. May opened
at from 13l4c to 73lsd73Ac, against yes
terday's closing price of 732c and worked
gradually lower until about an hour il sold
at i2l2. Minneapolis and Duluth. received 333
carloads, compared with 23l a week ago and
92 the corresponding day of the year be-
fore. Chicago received - cars. The crop
news was or about the same character as
of late-if possible worSe-but seemed to be
without effect, as the trade seems 10 be
getting on to that sort of news, and the
selling by St. Louis. while sending in crop
damage news, placed the latter under sus-
picion. Speculative business was distress
ingly light and the market rose and fell
alternately over about 1&c range on the
execution of buying or selling orders so
small that ordinarily they would not cause
a f~iuctuation of more than Lice ii at all,
The report of some little export business
having been done at New York-twenty
boatloads-and of about $1,000 bushels of
seed and to millers was given as the reason
of the recovery of May TO 134c after the
decline already referred to. The price eased
off again in the last half hour. May closing
at 127sG73c.
Corn was dull. but there were buyers of
the moderate offerings all day at very
slight concessions from yesterdays closing
prices. Receipts here were very light at
81 cars and Atlantic ports again exported
enormously. the days clearanceS being L.
III. 1853 bushels. That served TO steady the
market. notwithstanding the weakness of
wheat; May opened unchanged at 243sc, sold
to 2412c and rallied to 2i5sc, where it closed.
Oats attracted no special attention and
there was little to be said of the market.
Business for a while after the opening was
moderately good. but during the greater
part of the session trade was more or less
dun. The range of prices was low. with
4 tendency toward eaSineSS. Seaboard clear
ances were 5000 bushels. May opened I'M
changed at 17Ac, touched Use and closed
at 111k0114c.
Provisions were dull for a time and weak.
About thirty minutes from the close the
market suddenly developed strength from
no apparent reason. Early sellers became
buyers and trade broadened out consider
ably. the result being that all the early
decline was recovered. At the close MAY
pork was 212c higher at SS.7712: May lard
212c higher at si.25 and May ribs 2lsc high
err at s4.611R.
Estinnated receipts on
9 ears: corn. %: oats. 90; hogs. 5000 head.
Leading futures ranged as follows: