The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-08-25
FINAL LOSSES SCORED
BULLS IN WHEAT STARTED JUBI-
LIANT AND WOUND UP DISABLED.
Foreign Markets Showed Marked De-
clines and a Slump Set In Soon
After the Opening.

CHICAGO, Aug. 24-Heavy foreign markets
caused robust bearshness in wheat to-day After
an early advance. September left off sc lower
and December declined Sale. Corn lost h@ssc.
Oats are unchanged to 1ac higher. Pork closed
&c lower. lard gained 2hG5c and ribs rose SC.
The Liverpool market. instead of showing SYM
pathy with yesterdays strength here. lower
by I'D for September and lad for December.
That the principal reason for a slight de-
cline here at the start. The depression did not
last long and in short time from the opening
the market became quite strong, September rising
sc above the previous days closing price Lon
don developed good demand for cargoes pas
sage and that helped things little, but the chief
reason for the strength that so quickly succeeded
the first decline the nervousness of Septem-
Der shorts account of the small stock here
and the slight prospects for their speedy increase
Chicago received AS and only two carloads
of the days arrivals were contract. Minneapolis
and Duluth received 475 cars. compared with liza
a year ago. Advices from the spring wheat
region favored the expectation of continued lib
eral receipts. Some reports were to the effect
that the results of spring harvesting were disap-
pointing but such reports did not disturb the
general impression that spring wheat crop had
been raised exceeding in bulk the crop of any
former season. The receipts at Western primary
markets were $1,000 bu against $4,000 the corre-
spending day of 1897. Export clearances of wheat
and flour from Atlantic and gulf ports were equal
to 356, 900 blu, or about half what they were
year ago. Futures were we'll maintained until
the Paris and Antwerp markets reported for the
day. The continental quotations ended the bull
ishness here for the last of the session. Septem-
ber which had sold as high as 64ssc in the fore
noon, broke the weakness abroad to 63c, but
firmed up a fraction just before the close. The
do ted with pahI hal
the Australian crop prospects were favorable and
that official Russian reports for full
average yield. September opened 14Q%c lower at
63ssQ631kc rose to 643sc, fell &c and closed at
6S1sc asked. December started AQasc down at
61%c, advanced TO 62Ac, declined to 61l3c and
closed at 611a@615sc bid
Corn at the start acted in way to make glad
the hearts of bulls and turned around and rended
them. The early advance was due to heavy buy
ing by shorts and elevators on the claims from
Kansas and Nebraska. Later, however, those
ports were emphatically denied and that, together
with large estimates for tomorrow, inclined
everybody to the selling side. The tumble that
followed that action left the closing prices at the
low point of the day. September opened
changed at 301sc, advanced to 305sc and declined
to 29%@297sc at the close.
The firmness of oats due to reports of dam
age to them from several States September be-
gan 1sc higher at 1850. sold up to 2O1sc and
weakened to 1sa4@197sc. the closing figure
Provisions ruled strong because of the disap
pointingly small of hogs. Packers bought
heavily of lard and ribs. September pork opened
1Oc up at $9O5, declined to $Ss5 and closed at
$3.50. September lard began 5@7l2c higher at
$5.05, to So. Is and weakened to So asked
the closing price September ribs started 712c bet
ter at $51712, fell to $5121a and rallied to $5.15
at the close.
Estimated receipts for to-morrow-Wheat. 275
cars; corn 200 cars; oats. AGO cars; hogs, o. 000
Leading futures ranged follows: