The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-08-09
ALL MARKETS DECLINED
WHEAT SET THE PACE WITH A LOSS
OF / 1-2C ON SEPTEMBER.
Weakness Caused Mainly by Foreign
Markets Failing to Respond to
Strength on This Side.

CHICAGO. Aug. 7.-Wheat led the way to
a general decline in prices on the Board of
Trade to-day. Foreign markets failed to
respond to the advance in wheat yesterday
here, and the cash sales were very moder
ate. Wheat declined 13sQl12c, corn sc, oats
112c pork 1015c, lard TIC and ribs SEC.
Liverpool quotations for futures of wheat
were from ed for September to SD for De-
cember lower than they closed the day be-
fore That was the reason for decline
here of 1c per bushel to begin with. Sep
TENDER, which was bringing 771sc as the
session ended yesterday, started with sell
ers at from 761s@764c. Trade was light.
Those who made a handsome profit on the
advance are not disposed to risk any OF 1t
by buying again this side of a &c or &c de-
cline. A moderate amount of short selling
was evident on the first bulge to 1875, and
grew in proportions as the session pro-
crossed. Chicago receipts were l25 cars;
Minneapolis and Duluth reported l5S car
loads, against 427 week ago and ga the
corresponding day of the year before. The
amount inspected out of store was 2bo,G00
bushels Chicago receipts for the week were
10000 bushels and the shipments 605,9oO
bushels The weeks clearances of wheat
and flour from both coasts were equal to
$780, ATT bushels, compared with 2545,VO0
bushels the week previous, and 2747OOO for
the similar week last year. About the only
bearish feature in the mornings news was
the report of the Kansas crop, giving the
yield as 50, $50 coo bushels, compared with
80, $4,000 bushels the year before. The
South Dakota wheat crop was privately
estimated at go 100000 bushels, the govern
ments estimate for the year before was
q $50, 900 bushels. The startling runnorS TO
the effect that the Russian government in
tended stopping wheat exports were uls-
credited, owing to the apparent weakness
in the foreign market. Near the end Oh the
session Paris was reported 212Q294c per
per buShel higher. A 12c rally followed, DuC
the quotations were looked on as an error
and had little effect. fresh decline set
in, which carried the price to the lowest
point of the day. Cash sales were small
compared with the enormous transactions
of late New York claimed forty boatloads
sold and one or two round r, Iots were were
close chiefly on covering. September
opened %0Tc to 1c lower at 761sQ764c, sold
between 1875 and 751sc, closing with sellers
1t was another day of liquidation in corn
The Kansas state report makes the cond!-
ton of growing corn 60 per cent. and estlo
mates the old corn in the State at SS,0O,OO0
bushels. The weeks exports from the sea-
board cities were 3,223,S35 bushels, against
1882 900 bushels the week before and ,23l
600 bushels the corresponding week or last
year. Chicago receipts for the week We're
4.196. 100 DuSnelS, ana SIlpIu6ulS H,ofo, ID
bushels September opened at from 267sc to
1885, declined to 26sc and closed at that sti
ing orders were plentiful and the weakness
in the other cereals helped the decline. Re
ceipts were heavy, 565 cars, and the &c cash d
article was weak. Shipments were 29O 900
bushels September opened 1sc lower at US
G1714c, sold between 17Ac and 169sQl6%c,
closing with sellers at 1910.
Provisions were very heavy during the
greater part of the day, influenced largely
by the weakness of wheat corn and oats.
The days run of hogs was 1000 and the
weeks receipts 164,283. against 1852 head 1e d
from Chicago this week were 1901 $40
pounds, compared with only 600 pounds
the same week last week last year Sep
TENDER pork started unchanged at $3.50, de-
ciined 121ac, closing at $7.77Q7SO; September
lard opened a shade lower at &.2, declined
to "a 25 closing at $42504.26. September ribs
opened unchanged at $4.S2, declined to $4.72
Q475, closing at $4.75 bid.
Estimated receipts for Monday-Wheat,
200 cars; corn, 1,1OO oats, 500; hogs, $4,000
fo1I