The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-10-25
HIGH POINT in WHEAT
DECEMBER CLOSES AT 20 3-SC, BEST
SINCE LETTER COLLAPSE.
Smart Gains at Liverpool Overcame
Heavy Receipts ON This Side
Provisions Advance.

CHICAGO, Oct. 24.-Liverpool to-day furnished
the tornado that swept over the shorts in wheat
Ordinary conditions were ignored and in the
turmoil December wheat climbed 2i5c, closing at
OhG702sc, the highest point reached since the
Letter collapse. Corn advanced &c. oats rose 80
&c pork left off 712c higher and lard and ribs
| gained &c each.
Wheat opened practically unchanged. but quick
ly began to develop symptoms of unrest regarding
the threatening aspect of European politics.
Prices started to advance and in the course Of
! half hour the December future. which opened
| at 675sG67%c, had touched 6SssG6Slsc, the high
mark that reached the curb Saturday
afternoon. English consols were practically I'M
changed at the opening. rejecting an absence of
increased in financial circles the
Fashode affair. But the Liverpool grain market
was unsettled and stronger. indicating further
alarm among grain spectators. The latter natur-
ally had the most influence with the kindred mar
ket here and ordinary considerations were de-
prved of effect in the face of possibilities of a
European war. Chicago arrivals were 353 cars,
against Saturdays estimate of 175, and receipts
in the Northwest were 1.451 cars. compared with
1872 Monday last and 1,640 for the corresponding
day a year ago. The worlds shipments to Europe
last week S.311,0 900 bu. without full returns
from India. This shows increase of over a
million bushels which principally came from
Russia and Danubian countries where shortage
was supposed to exist The total primary West
ern market receipts for the day zoos, 900 blu,
against 1061 900 for the day last year. Liver
pool opened with advance of from 2Ad to Sd
per GENITAL and closed with from 1%d to 2lsd net
gain for the day. Exports of wheat and flour
from Atlantic seaboard points, exclusive of New
Orleans were 900 bu The market ruled con-
tnuously strong and about December had
reached 6S%c. Around the noon hour the price
underwent a further upturn from a drop of 12c
in English consols and an increase of only 100000
blu in the visible instead of 100000 bu expected.
The market continued on the advance to the end
and December finally left off at 7O4@7O3sc, buyers
The that wheat had for advancing
was likewise operative in corn, though to a much
smaller extent. The market opened easy, but
soon rallied on extensive buying by shorts and
country purchases. On the hard spots, however.
the offerings by longs were generous and this had
tendency to check the upturn. Receipts were
500 cars, considerably above estimates. December
opened M@hc lower at Sl%@S1sc and advanced
to S2%c, sellers the closing figure.
The absence of shorts in oats accountable
| for slack trade and independent prices. Not
only did the market fail to respond to the adj
vance in the other grains, but trading throughout
| the day limited and of indifferent char
acter. Toward the end of the session the market
recovered and prices at the close showed small
gain. Receipts 53l May opened a
shade lower at 22AG221ac, hung around 24asc, then
rose to 24a4c and closed at 24as@24ssc.
Enormous receipts of hogs everywhere depressed
provisions early. Later, however this sup
planted by the strength in grains and toward the
close the early decline more than recovered.
January pork opened 2I2c lower at $9.15, declined
| to $9121a. then rallied to $9.27is and closed at
| 1926, sellers. January lard began shade lower
at So advanced to $5.07ls and closed at $1,000
| 5.07is. January ribs started unchanged at %72k.
sold at $47od4.72l3 rose to $3.50, then reacted to
| $4.77l5 at the close.
Estimated receipts for o-morrow-Wheat, 210
cars; corn 500 cars; oats, 252 cars; hogs, go 000
| Leading futures ranged as follows: