The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-04-21
LETTER IS IN CLOVER
DISPOSED OF A WHEAT CARGO YES
TERDAY AT $1.26 A BUsHEL.
Heavy Advances EARLY Nearly All
Wiped Out Before the Close
Pork Gains GO 1-2c.

CHICAGO, April 2O.--Grsin quotations slid
off rapidly in the last half hour of trading
to-day on rumors that the Rothschilds had
advised Spain to evacuate Cuba and had re-
fused further financial aid. July wheat,
which had been advanced &c, declined to
yesterdays close and ended with a net gain
of only AG3sc Corn and oats, which had
risen ssQ24c, closed unchanged to 1sc lower.
Provisions were strong throughout, July
pork closing 6212c higher, lard and ribs 1212c
better.
Liverpool market surprised the trade at
the start to-day by showing an advance
of nearly &c a bushel in wheat. Theewar
news from Washington gave shorts fur
Their scare and first trades in July were
made at SS12GSS7sc, an advance of 11sQ119c.
September was also remarkably strong.
Profit taking caused a brief reaction, dur
ing which July touched SS2sc, but the mar
ket again stiffened and reached $3.50. Heavy
selling against calls stopped the advance,
and the market quieted down. The an
nouncement of the actual signing of the
Cuban resolutions did not affect the course
of prices, quotations remaining about sta
tionary for some time. The strength of the
English markets continued to be the chief
influence. Letter reported free acceptances
of cable offers. One cargo was sold to Lon
don at $126 bushel, an advance Of &C over
yesterdays price. Domestic crop news of
a reassuring nature and heavy receipts had
little effect. Atlantic ports cleared 100000
blu wheat and flour. Chicago had 81 cars,
against last year. Minneapolis and Du-
luth received PIP cars, compared with 2OS
last year. July continued to gain strength
until after reaching $3.50, or &c above where
ba a
long wheat was sold between that and soc,
that rather overloaded the capacity of the
market, and just then New York flung
bomb into the pit in the shape of a dispatch
giving a rumor current there to the effect
that the Rothschilds had refused to advance
more money to Spain, and consequently that
Spain would be unable to go to war. The
market suddenly collapsed 1c, running down
in ten minutes from S91sc to SS1sc, and then,
after a short time around the latter fig
ures, it had a fresh tumble to S71aQS75sc,
and was bringing S75sc at theKclose. May
sold between $1.10 and Sill, closing at $1.1012.
Corn was helped by export sales of over
1000. 900 blu. Chicago receipts were 290 cars,
and exports cleared 100000 blu. Chicago
bought freely, but the collapse in wheat
depressed corn, and most of the advance
was lost. July opened Agasc higher r;si at AZ
S24ac closing at S21zc, a shade higher than
yesterday.
Oats were firm early on the advances
abroad and in sympathy with wheat. The
advance was lost near the close. Chicago
the early news. July opened &c higher. at
237sc advanced to 241sc. declining to 2S5sc
at the close, a net loss of &c.
Provisions were strong throughout on war
prospects. The trade was largely profess
sional, although some outside buying was
noted. Professional shorts were liberal buy
erS, and packers gave up their attempts to
check the rise. July pork sold between
$10.O5 and 5000, closing at $1,000, a net gain
of 6212c. July lard and ribs gained 1212c
each both closing al $5371a.
Estimated receipts for to-morrow-Wheat,
IS cars; corn, S24 cars; oats, 80 cars; hogs,
5000 head.
Heading futures ranged as follows: