The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-09-20
MARKETS CLOSED FIRM
WHEAT TOOK A HEADER EARLY,
But LATER EASILY RECOVERED.
Provisions Showed Independent
Gaining 35c in Three Days.

CHICAGO Sept. 1S.-All grain and pro-
vision markets started weak and closed
strong to-day. The strength of wheat was
limited to the last thirty minutes when
outside buying started short to covering,
which caused a recovery of the early de-
cline and asG1kc besides. The action of corn
and oats was similar but closing prices
were at declines of AQ3sc for corn and
sc for oats. Provisions were stronger than
any of the grain markets, closing at 712c
advance.
Wheat continued in the direction of the
downward impetus given to it yesterday.
December closed yesterday at 92Q921sc and
opened to-day at from 91Hc down to 912lc
1t barely touched SIC a second later and
then began rolling over and over down
hill until it got to Gle, which point it
reached about about an hour from the
opening The Liverpool market came in
line with the decline here showing the fol-
lowing declines in futures: September. I'D;
October, I'D. and December, 15sd per Genital.
With the temper of the leaders of the local
spectators strongly inclined to a bear side
the decline at Liverpool was all the further
encouragement they needed to attack the
market afresh, and during the early MORN
ing they did so with vengeance. The
coasts for the week, as reported by Brad
streets, were the heaviest but one in any
week in the statistical recollection. They
amounted to the great total of $4,000
bushels. Beerbohm cabled that the
worlds shipment for the week to Europe
would probably be found to amount to
100000 bushels. but in view of the heavy
American shipments the figures are Elk
pected to be considerably larger. Argen-
tina exported no wheat this week, and ac-
cOrding to accounts that country is en-
gagged in a vigorous contest with locusts to
enable 1t to get some to ship after January
next. Chicago receipts for the day were
246 cars Minneapolis and Duluth got LAB
carloads, compared with 1,135 a year ago.
equaed M 600 B bushels n Wheat and our
5Sl 600 bushels of the total being in raw
grain The decline to Gle satisfied the bear
contingent for the time, but when they
tried to buy in short wheat at that they
found few sellers. The Paris market came
IN with slight advance at the close and
ing orders here, the result being a scramble
among both bulls and those who previously
were bears for the limited offerings. Under
such competition the price rapidly recov-
cred all its previous decline and shot up to
92s4c, and it rested at s215c.
Corn was active. There was some liquida-
ton, enough to cause a &c decline, while
wheat was weakest, but the market as
whole was stronger than expected 1t was
well advanced to be injured by frosts.
Gables We're very weak. The weeks ship
iieHlS were 0,SUU,OJU DuShelS. Argentine
shipments were nothing, compared with
Loot, 600 bushels last year. Receipts were
$50 cars. Shorts covered actively during
the e. latter part Of the session. and great
cember opened AQasc lower at 297s03Oc,
sold between 3O1sc and 2919c, closing at 297s
@30c.
Oats sympathized with corn and ruled
weak from the start, but became firm
toward the end Trading was small and
unimportant. A feature was the moderate
selling Of May, some 100000 bushels being
oHered by one prominent firm Receipts
were liberal at 405 cars and acted as bear
influence. December ranged from 201bc to
2O5$c, closing at 2012c, a net decline Of He
Speculative business in provisions was
not heavy but the tone was strong. The
opening was at slight decline on the
continued disturbing yellow fever news
shorts ,rIs.. covered actively, pork being in es-
pecially good demand, and as offerings
were light prices moved upward easily At
the close December pork was 1715c higher
ct $500 December larG 71sQ10c higher at
$46712G470 and December ribs ne higher
$5371a. 0'--4e O.
Estimated receipts for Monday-Wheat
hogs 80 900 head - 1890
40 inrr r,,&v,