The Indianapolis journal., 1897-04-15
WHEAT RECEIVERS 1-2C
SPECTATORS BEING "WHIPsAWED''
AND IN DOUBT ON FUTURES.
Early Firmness Gave Way To n slump,
Which Was Later overcome
Provisions Lower.

CHICAGO. April 1i.-wheat was weak at
the start to-day and strong at the finish,
closing with "a &c advance good export
business was responsible for the rally.
Corn and oats trailed along after wheat
but did not have so much vitality oats
closing unchanged and corn shade lower
Provisions declined 2laa10c.
Wheat spectators were rather at a loss
which way to turn at the opening to-day
Right at the start the tone was firm. Some
early transactions were at the close of last
night. the strength being due to the un-
expected action of the Liverpool market
which was I'D to %d higher. notwithstand-
ing the crop of lac here yesterday. This
brought a momentary rush of buying or
ders. and for a short time the feeling
seemed firm. But the trade soon began to
suspect manipulation abroad. and the buy
ers got more cautious. Then came rumors
of the failure of Barney Barnato. the
great Kaffir stock operator of London and
South Africa and in anticipation of a pos
sible business panic abroad the speculative
feeling turned bearish. The reported fail
ure, however, not confirmed. Perhaps
the principal bear factor was the fair
weather West Reports of rain day by day
have finally made even some of the bears
apprehensive and when at last the sun
did break through the clouds it gave the
bears renewed courage. st. Louis was a
heavy seller I'm this market. Northwestern
receipts were much lighter. Minneapolis
and Duluth getting 293 carloads against 504
the day before. 263 a week ago and 3iy the
corresponding day of last year. l.iverpooi
opened at from 12d to s4d per Genital higher.
The export business which New York con-
firmed as having been done yesterday
amounted to 100000 bushels, and within an
aff fE.ah hDoin n tD-d1
fifteen boatloads of fresh business was re-
ported. Duluth advised sales made there
yesterday of l5oOoS bushes, and OF d eight
closed yesterday at 6ass@6l1ec. opened with
sellers and sales at from 6Il2c TO 6ISsc, and
in the course of half an hour the price had
from the latter point and through much
opposition il forced its way very little at
July kept about asc discount under May
until near the end when ii dropped 12c be-
low it,
corn weak and the market remained in
that condition all morning. An Improve
ceipts for tomorrow. the rally being helped
by the late strength of wheat. and nearly
all of the early loss was recovered, En- S
bushels. MAY started unchanged, at 23&d
237sc, dropped TO 231sc and rallied to 23&4c,
where ii closed.
Oats started weak on the clear weather.
which was assisted by a disposition among
shorts to sell. Later on In the day sym
pathv with wheat and better buying gen.
orally caused a reaction. and at the close
values were just where they started. "A
good business was TRANSACTED Exports
amounted to TO- 900 bushels. May opened a
shade lower. at l6Ssdl6l2c, declined to l6isc
and closed at l6i2c bid.
Provisions were dull and easier. with
business confined to local traders. The
opening was lower on the weak hog mar
ket and further declines ensued. Some
rally occurred late in the day in sympathy
with the gain markets. At the close May
pork was l0c lower. at $S.2712: May lard DC
lower. at $415qi.17la and May ribs shade
lower, at s4.62i3.
Estimated receipts for Thursday: Wheat,
3 cars; corn, As; oats. 1i5; hogs, 2o,Oo0 head
Leading futures ranged as follows.