The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-09-18
HEAVY SLUMP IN GRAIN
CORN LED IN THE DECLINE, WITH
WHEAT NOT FAR BEHIND.
Provisions Showed an Exception in
Scare and Scoring Advances.

CHICAGO, Sept. lit was a day of
liquidation and short selling in all grain
pits to-day. Corn suffered the worst. not
even frosts reported having sufficient in
f1uence to stop the decline. Corn closed
1AQ19sc lower; wheat followed closely with
a 1Sc decline, while oats broke &c The
provision market was a shining exception
to the general rule. closing prices showing
712d10c advance.
This was one of the days that the opening
quotations from Liverpool had some effect
on the wheat market at the start The
traders who bought wheat on an advance
at Liverpool Of 1ad per Genital as that mar
ket was quoted before business commenced
here, paid about Zee more for it than it was
selling for at the close the day before. De-
cember starting at 935sQ93$4c. There was
some suspicion at the start that the Liver
pool market was being manipulated and
this caused a momentary reaction to 93Ac
but the market quickly reacted to $3.50.
For more than an hour the buying induced
by the strength at Liverpool was sufficient
to maintain the price at or above the OPEN
ing figures. The English market kept
gaining till it's close when It had reached
from $4d to lad Improvement for the day.
While the advance was in progress the
market here, though quite dull, was firm,
but after the closing cables were in it be-
gan to weaken. Liverpool was the only
foreign market to show strength, and adj
vices from there explained the advance by
telling of intense heat and locusts in Ar
gentine. Paris closed at decline of 80
confines for September and Antwerp at
reduction of rs confines, equivalent to 1Ac
per buShel decline at one and 112 per buShel
at the other market. London also sent a
hGsa VeiCE h 0gre.1 ON TO fhn hot hoy
were reSellerS of cargoeS at less money
than was being asked for fresh shipments
from here The price OF December grad
ually declined until about II o'clock it was
quoted at 9212c. Chicago receipts were 21S
cars, "a of them No spring Minneapolis
and Duluth received lob cars, against 496
a week ago and 1,023 last year. The stocks
for the week at Minneapolis are estimated
to show a decrease of 100000 bushels; Du-
luth, an increase of 800 600 bushels. The
export clearanceS from the seaboard were
equal in wheat and flour to 348, 600 bushels.
Exporters here had orders for No. red
wheat for the United Kingdom, but could
find none for sale within cents of their
limits. There were export orders for No:
Kansas hard for export which could be
bought &c under December but that was
said to have still left the price &c ABOVE
a working basis. When December was
921bc the market had support near the
end and the price dropped to &c. Decem-
Der was selling at 92GS21sc at the close.
Corn was uncompromisngly heavy. The
froStS reported had no lnfuence~ln stem
ming the beariSh current, and the price, att
er the first few minutes, kept on a steady
decline The continued heavy receipts are at
length having their effect. A large. and in
fluential interest pounded the market per-
sistently all day and there was general
bull liquidation. The cash demand was
slow Receipts were 81 cars. Atlantic
clearances were 1893 600 bushels. December
opened &c higher, at 315s@31Ac, sold down
to zoe. recovered to 31Ac where 1t closed.
Oats were very slow and weak, influenced
by the corn and wheat decline. Lack of
speculation was also a weakening FACTOR.
A good cash demand existed early In the
day which held prices comparatively Ilr1n
for a time but the weakness of other grain
markets finally had its effect New York
was q good buyer of December. Receipts
were 937 cars. Clearances We're 262, 600 bush
els December ranged from N1sc to 20lac,
and closed at 20Ssc. or 15c under yesterday.
Provisions were remarkably nrm, con-
sidering the weakness of the grain markets.
The provision crowd was evidently over It's
yellow fever scare and shorts were early
BUYERS Of all products. "A feature was the
large European demand for lard. Part or
the early advance was lost on reallzll. py
scalpers At the close December pork was
nc higher, at SS321a; December lard IOc
higher, at $46715Q4.70, and December rlps
nc higher, at S4.S712
Estimated receipts for Saturday: Wneat,
$50 cars; corn. $40; oats, $50; hogs, 1z'oVo
AiIe'u. 7..o. e,,+,raS ranoed a g follows: