The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-09-11
WHEAT STILL BOOMING
INACTIVE SEPTEMBER MARKET
TOUCHED THE DOLLAR MARK.
December Futures Came Within a
Fraction of the Century Quota
tion-Provisions SIumped.

CHICAGO. Sept. 10.-September wheat
sold at dollar to-day, and December came
within SIC of that figure at one time, but
declined before the close to CSC, an advance
of &c since yesterday. September closed at
9S15c Strong foreign markets, seaboard
engagements and rumors of reduction in
the French wheat tariff were publish fea-
lures. the reaction being caused by real
izing sales. Corn declined A6asc and oats
&c Provisions closed 5Q221ac lower on re-
newed yellow fever scare in the South.
Wheat was in good demand at the start
at about 15c improvement over yesterdays
closing price for December and 1c for Sep
TENDER. To supposedly defunct deal Sep
TENDER exhibited a surprising degree of ac-
tivity, and climbed up to 81 within a min
ute or two of opening, when the price was
9912c. December was decidedly erratic.
From $3.50 to 9S14c to begin with, it rose to
$3.50, turned around and went back again
to 9S1sc, then it dropped to 97ssc, rose from
that in gradual way to 9724c. From the
latter point to 99Ac was the work of about
twenty minutes, and those fluctuations
were all within the first two hours of the
session. The rally was caused primarily
by an advance of l 2-3c in the price at Liv-
erpool at the opening Paris started 10
confines lower, but that market closed at
an advance Of 10 confines, while Antwerp
gained 20 confines. A cablegram stated
there were good prospects of a reduction
of francs in the duty on French wheat
This was disputed later, but in the mean
time it had caused December to jump to
9914c. Chicago received 269 cars, only II or
them contract. Minneapolis and Duluth
receipts were 496 cars, against 1,l4S the cor
responding day of the year before. At
lantic port clearances of wheat and flour
were equal to about 800, 600 bushels. Prim-
airy market receipts We're 153S,7S9 bushels,
compared with 1877 bushels the similar
day of last year. AS was the case in the
recent boom in September wheat, the mar
ket had to take d great deal of long grain
when the price approached the dollar mark.
At 9914c offerings were very free, much
more liberal than the limited demand could
absorb, and the consequence was gradual
but steady decline. December finally got
down to 9Sc, where it closed. September
closed at 9S12c.
Corn was rather easy. The market opened
firm at slight improvement the strength
of wheat and some bad state crop reports
encouraging buyers, but the strength was
only temporary. The crowd feared that the
government crop figures might look high
when issued tonight, which caused con-
siderable selling. The nonappearance OF
frost in the corn belt also had weaken
son for the weakness was the growing
pressure of the enormous receipts 1,3l6 cars
being received to-day and freer country
offerings were reported. ATLANTIC port clear
ances were s29, 00U bushels. Liverpool cables
were firm and Esd ni0her. The range for
December was between S37sc and 3Sc' the
closing price being 331sc asked.
Oats were firm, Notwithstanding the de-
clining tendency of corn. There was enor-
nous cash demand sales of about 100000
bushels being reported, and this and a large
export business served to sustain prices:
Receipts were 429 cars. December ranged
from 21ssc to 211sc, closing at 211sq2114c, a
shade under yesterday. The appearance of
new yellow fever cases at New Orleans
made a weak provision market. Liquida-
tir HcfcAf1 ord
on the market. The decline was stopped
by the support of Swift and other packers,
and the close was a little over the bottom.
The weakness of corn had some influence.
At the close December pork was 2212c low
er at $S4(15; December lard 10c lower at
$475, and December ribs, &c lower at $3.50
Estimated Receipts for Saturday-Wheat,
315 cars; corn, 1,450 cars; oats, $40 cars;
Ieadine fltnres ranged as follows: