The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-10
TOO HOT FOR BROKERS
TRADING AT CHICAGO LIGHT AND
ALL MARKETS DECLINED,
Talk of Large Purchases of New
the NEUTRALITY-SUSPICIOUS. Fell on.

CHICAGO, July General humidity was
in control of the forces on Change to-day
and trading in all the pits was dull in con-
sequence. Wheat was affected by talk of
large purchases of new wheat for delivery
this month and closed at a a4c decline. All
the other markets exhibited more or less
weakness as a result of liquidation, corn
declining 3sc and provisions 212Q7l2c lower
oats were a shade lower at the close
Notwithstanding lower quotations for flu
lures of wheat from Liverpool and Paris
the market here started firm. September
which closed yesterday at 66AQ663sc, opened
at from those figures to Lice higher. Its
tendency to rise was soon overcome. After
advancing to 6612Q665sc, it turned down
ward and about an hour from the opening
it got down to 66c. The swetering heat of
the trading pit was such that the brokers
kept away from it when they were not
compelled by receipts of an order to brave
the personal discomfort of it's execution
The course of the foreign markets caused a
general suspicion that the foreign crop in
jury had been greatly exaggerated. EXpec-
tations of a bearish government crop re
port tomorrow also had a tendency to re-
strict buying. Chicago receipts were only
two cars. Northwest receipts were light
too, one of the bullsh factors. Minneapo-
lis and Duluth reported receipts of 122 cars,
against 263 a week ago and AIS on the cor
responding day of the year before. Talk
of extensive PURCHASES of new wheat to
arrive in Chicago this month had de
pressing effect on the market in the middle
of the day. and it did not again recover its
early buoyancy. The Atlantic port clear
ances were very liberal being equal in
wheat and flour to SIS 900 blu. but that did
not affect prices to any perceptible degree.
Minneapolis and Duluth stocks are expect
ed to show a decrease for the week of
500 900 bu and the visible not to exceed
1000, 600 blu decline. New York reported for
eign buying orders in the market, but gen.
orally at unavoidable limits. The sales for
export were said to be only ten loads for
the day. Here sales of spring wheat for
shipment to country millers amounted to
10000 blu. The price of September slowly
declined to $3.50, and closed at that.
Corn was active in the morning, but the
heat finally drove traders away. Crop re
ports, as a rule, were favorable, and the
disposition at first was to SELL but the de-
mand was so good at the concessions that
an advance soon ensued. That was again
followed by free selling on predictions of
rain tomorrow throughout the corn belt,
and the market ruled quiet and weak for
the rest of the session. Local receipts were
446 cars. September opened 1sQ4c lower, at
271k027Ac, advanced TO 275sc and declined to
&c That was the closing price.
Oats were slow both for the cash article
and for the speculative features: The feel
ing was firm early, due to fairly urgent
buying by shorts. The market sold off later,
following wheat and corn in their declines.
Local receipts were 253 cars, September
opened unchanged at 1S14c. advanced to
1S3s@1Sl2c and declined to 1850, closing at
1S1sQ1SAc.
In provisions the market was one of liqui-
datiOn, prices starting at some advance,
due to a strong hog market, but the pack
ers took advantage of it to dispose of all
the market could hold The volume of
trading, however, was not heavy enough
TO cause radical weakness. At the close
September pork was 212c lower, at $40;
September lard 5Q712c lower, at A0504.0712,
and September ribs 212q5c lower, at $40
@44212.
Estimated receipts for Saturday-Wheat,
II cars; corn, AIS cars; oats, 255 cars; hogs,
II. 600 head.
Leading futures ranged as follows: