The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-05-23
AFTER THE BIG GAME
LETTER FORCES UP WHEAT PRICES
TO CATCH THE FOREIGNERS.
Advance of 15c in May, with July
2 5-Sc Higher-COrn Lower. but Pro-
visions Gained u Trihe.

CHICAGO, May 21.ZLetiers influence in
the wheat market to-day was apparently
exerted to make a strong impression on for
eigners who might need cash wheat. 1t
looked as if the final May pressure was be-
ing applied to the shorts everywhere. July
wheat is up 25sc, September 1850 and May
15c. Corn closed 1sc lower and oats UNI
changed Pork gained 715c, lard sc and ribs
nc.
The wheat spectators to-day appeared
disposed to leave the entire market here to
its chief manipulation and business was very
small, except for about forty minutes after
The opening and again during the last hour
of the session. September absorbed the
bulk of the trading. Liverpool wired the
Improvement here by cabling advances of
from ~ to I'd, and it was generally be-
lieved on the floor that Letter worked"
Liverpool. The excessive rains of the last
few days had raised some msgivings about
the possible effect on the wheat crop, es-
pecially in sections where the plant is APP
preaching maturity. A report from Kansas
claimed heavy damage already in three
counties from rust. Chicago receipts were
23S cars, thirteen of which were contract.
Minneapolis and Duluth receipts were 496
cars to-day, against S54 last year. For the
week the last-named cities received 1866
cars, compared with 2,719 the week previous
and 1913 the similar week of 1897 Export
clearances of wheat and flour for the week
from both coasts were 4,054, 1886 blu, against
2,656, 600 blu a year ago. For the day Atlantic
ports cleared $4,000 blu. Primary Western
market receipts were 10000 bu, against
$4,000 blu last year. Beerbohm reported lib
eral shipments from all exporting houses
this week. Continental markets were quoted
easier and Antwerp down the equivalent of
INC a bu, and Paris lower by 1 centime
bu for May and 12c for September. Letter
was evidently neglecting to support the con-
tinental markets, but he was attending
closely to those at home. His brokers bid
from $1.4O to $145 for June and from $3.50
to SLIGO for May, and incidentally whipped
up September when it needed applica-
ton of the gad July opened 9s@11sc higher,
at $1.O91sQ110, sold up to $1.1012, declined to
$110, again rallied to $1.1214 and reacted to
at an advance of %@11ac, at S97s@90Ac, rose
to 91Ac, fell back to $3.50 and advanced to
SO11qSOssc, the final quotation May ranged
from $1.47 to SLIGO, the latter figure being the
closing price.
Corn acted to-day as it did Friday. in
clned to bull. but not able to advance very
far. Wet weather inclined the West to do
some car buying. July opened A@Ac higher
at S5%@S61sc, declined to 359sc, sold up to
36Nc and eased off to 355sQ35&4 at the close.
Oats were entirely neglected and prices
kept near to the figures current at the close
yesterday. Receipts were 3S9 cars July
opened &c lower at 261sc. advanced to 263sc,
then down to 251sc and closed at 261s@26Ac
bid.
Provisions were barely steady without
much activity as if the liquidation by weak
people had been pretty thorough. July pork
o onad q gg higher 9Emad at e x 3 de
sold down at the close to $12.271a. July. lard
started SC stronger at $6.471aG6.50. sagged
ened to Sc 471a at the close. July ribs started
TIC higher at $500, declined to $61712. rose to
$6.2212Q625 and sold off to $6.2212 at the
close.
Estimated receipts for Monday are
Wheat, 275 cars; corn, $50; oats, 2S5; hogs,
IS 900 head.
Leading futures ranged as follows: