The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-11-17
IN FACE OF BEAR NEWS
WHEAT MAINTAINED A STRONG TONE
AND DECEMBER ADVANCED.
short Traders Were Fearful, and
Lines of Provisions Scored Gains.

CHICAGO. Nov. 1s.--In the face Of much bear
ish news wheat to-day held remarkably steady.
especially the December delivery The latter
closed at an advance of 49ssc. May declined &c.
Shorts were uneasy and covered freely. Corn adj
vanced Sc oats nc and provisions closed 5Q7l5c
higher
Wheat opened at from sc to 1zc lower Deem
Der starting at 657sG66c and May at e596@65&4c
Liverpool had declined from Esd to SD before
trading on this SIDE began and the 2:45 p.
quotations from Liverpool increased the loss to
from sd to sd for December and March, re-
spectvely. First transactions here brought the
prices of December and May down to the level
where holders of puts could operate with safety
The buying against those privileges caused the
market to assume an appearance of firmness at
the decline and a moderate reaction took place
December getting up to 66lsq66Ac and May to
65%c. Besides the weakness of Liverpool, the
bear side of the market encouraged by de-
clnes at Antwerp and Paris. an almost total lack
of foreign demand and heavy Northwestern re-
ceipts Minneapolis and Duluth reported 1oS9
cars, compared with 769 year ago. Chicago re-
ceipts were 1914 cars, six of contract grade. The
seaboard was very prolific in bear news and it had
a good deal of effect on prices, which began to
sag again the buying against puts let
up Russian wheat, according to Liverpool was
increase. Some export business developed later,
New York reporting about fifty loads TAKEN but
this was a heavy falling off of the engagements
of a week or So Primary receipts were enor-
NOUS the total being put at 1888 900 bushels, or
697 coo more than year ago. Notwithstanding
this. the market declined very slowly. December
reached 657sc and May 6519c before noon. Those
the lowest prices of the day. Shorts, es-
pecialy in December. were evidently apprehensive
of the situation and took advantage of every dip
in prices to cover their lines. In the last hours
trading Of the taking of 1000 bushels for
shipment impaired additional firmness to the mar
ket and prices advanced steadily. The market be-
came decidedly active and firm toward the Close
shorts, coming in freely and bidding prices up
rapidly December advanced to 66a4c and closed
at 665sG66a4c. May closed at 657sQ66c
Corn though starting in weak, soon rallied and
for the rest Of the session strong. Cables
were lower, but there an excellent cash de-
mand here and liberal export sales at the sea-
board. The market was helped good deal by the
strength of oats. Receipts were I'D cars. May
ranged from 3S1aG3S5sc to S3@SS1sc and closed ssc
higher at 3S17c.
Oats were relatively stronger than the other
grain markets and a large business was done.
Cash demand was good and offerings light Shorts
covered on d large scale and influential local
operators, VINO nave Deen SelEng recently pouShC
heavily. The market very active and strong
near the close Receipts were POI cars. May
ranged from 2514c to 249s@24a4c and closed 1ac
higher at 2514c. December advanced about &c,
closing at 24a4c.
Provisions in spite OF the dullness which was
marked throughout, were strong with the excep-
ton Of few minutes after the opening. The
market helped by the rally in grain, which
drove shorts in. Offerings limited and prices
advanced easily. January pork closed TIC higher
at IS 9215. January lard 7l2c higher at $4.9212 and
January ribs SC higher at $4521zQ4.55.
Estimated receipts for to-morrow-Wheat, s25
cars corn, 300 cars oats, $50 cars; hogs, 10000.
Leading futures ranged as follows: