The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-08-31
SHORTS LOST COURAGE
SMALL AMOUNT OF WHEAT IN STORE
GAVE THEM FRIGHT.
Early Liverpool Cables Were Lower
and Selling Movement Had a
Brief Run-POrk Unchanged.

CHICAGO. Aug. 3o.-Anxety on the part OF
September shorts on account of the small amount
OF contract stock in store here held wheat steady
to-day. September closed 1s@hc higher and
December rose &c. Corn gained &c. oats are
unchanged TO 1sc up. Pork and lard unchanged
and ribs improved 2lkc.
Receipts of wheat in the Northwest and at
Chicago were heavy and Liverpool before the
days business commenced here. had declined &C
for September and 1sc for December wheat For
those reasons there was some desire TO sell at
the opening for somewhat less than the prices
current at the close yesterday, but that rather
general wish was no sooner Gratihed than it was
being repented Of. 1t soon became evident from
the number of buyers at the slight decline at the
start that shorts were numerous and their feel
ings far from satisfied with their position. Re-
cepts here were ASS cars, against Ill last year.
Minneapolis and Duluth received $50 cars, COM
pared with sol the year before. The receipts at
domestic winter markets were sufficiently smaller
than those of last year to rather more than
offset the more liberal arrivals in the Northwest
The total at the principal Western markets was
1908 900 blu, against O53 900 the corresponding day
of thefyear before. News from abroad was in the
main Of a bullish character. Liverpool cabled
that weather in the United Kingdom was un-
settled, and crop reports from Russia were of
wheat was easy and prices ruled from 19c to 1c
a bushel lower. Atlantic port exports were 32O, 900
bu in wheat and -four. One point in the days
statistical developments that attracted good
deal of attention and added to the irmness that
generally prevailed in the pit was the small
quantity of contract wheat in Chicago regular
elevators, the total being under $4,000 bushels.
That, of course, principally affected shorts for
September. September opened 14c lower at 63A
@64c, declined to 6S%c. advanced to 64Ssc and
sold at 643sc at the close. December started 1sc
down at 61AQ617c, improved to 62AQ623sc, then
reacted to 62@621sc, the closing price.
Corn was strong, due to continuation and re-
iteration of previous items from the country con-
corning what was claimed to be very uncom-
promising outlook for the crop. Another hot
wave was predicted for tomorrow, and as the
reports of damage have been from heat already.
more of it made the traders apprehensive. Sep
TENDER opened %@Ac down at 2s%@Scc. advanced
to SOasc and closed at SO1s@SOAc buyers.
Oats ruled steady with corn. but the fiuctua-
tions narrow. The bulk of the business
done was changing from September to December
at a premium of 1sc for the former. September
began unchanged at 1880, to 20lsc and closed
at 19HQ2Oc.
A fair amount of speculative business was done
in provisions and more than usual of it on orders
from outside. The chief feature of the business
from the manufacturers point of view was the
excellent and heavy demand for cash products.
Prices kept within narrow range and about
maintained themselves.
Estimated receipts for tomorrow: Wheat. 241
cars; corn. 600 cars; oats. 400 cars; hogs, $4,000