The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-10-26
WAR SCARE BLOWS OVER
AT LEAST CHICAGO OPERATORS PRE-
TEND TO BELIEVE so.
Wheat Falls Back &c and a General
Decline Extends to other Mar
kets-PrOvisiOns Are Heavy.

CHICAGO. Oct. 25.-war or not war be-
tween England and France was the para
mount question in the speculative pits to-
day, and the general opinion was that a
peaceful solution of the difficulties was
more clearly in view than could be be-
lieved yesterday. A general decline re-
suited, amounting to &c bushel in Decem-
Der wheat, lzQ5sc in corn, 14dssc in oats.
121sc in pork and 5Q715c each in lard and
ribs.
English consols were again lower at the
start. and the Liverpool wheat market
opened excitedly higher. The logical result
of that by itself should have been a wild
scramble for wheat here and a much more
material rise in prices than occurred the
day before. Wheat spectators had, how
ever, to take account of many things that
were not paraded in view of the multitude,
and it was due to some of those obscure
influences that severe decline in prices
that inaugurated the days business was not
so illogical as appeared on the surface.
Many Of the active traders have loaded
themselves recently with wheat at what
they would consider a dangerously high
figure if peace were assured. People who
had bought freely because they thought war
imminent listened to the whispering of a
probable peaceful settlement of the
Fashoda difficulty and FASTENED to
rid themselves of their war-priced
wheat English consols later in the
day recovered their early decline. This
was hailed as the harbinger of peace. and
helped to bring out more long wheat and
even some from the more careful short SELL
ers. Chicago received 3O2 cars, compared
with 1874 last year. while Minneapolis and
Duluth receipts were 1,4O2 carloads against
997 the year before. Atlantic port clear
ances were equal in wheat and flour to 49,
600 bushels. The weak feeling that had pre-
vailed in the market during the first part of
the session was arrested for a time by a
report from New York that 100 boatloads
of wheat had been sold for export. Trad
erS as a rule, were not disposed to be-
lieve in such a heavy business, however,
and pointed to the easier tone in both lake
and ocean freights as opposed to its prob
ability Bradstreets report of the world s
visible showed only 24,GO0 bushels increase
on this side of the Rockies. This was dis
appointing to the bears, and the market
rallied a little on it, but a heavy tone to
closing cablegrams and heavy primary re-
ceipts, with growing impression that Paris
was. right when 1t said that the American
markets were unduly excited, continued to
sway the fluctuations. Primary Western
market receipts were 1,69S000 bushels,
against 16S,000 bushels last year. Deem
clined to 6S3s@6S1ac, recovered to 6S7sc, sold
off to SS1sc and closed at 6SA@6S3sc.
Corn was not very active, and Of its own
voltion would apparently have remained
immovable. but was forced by wheat to
adopt a downward course. The result of
lower prices for carriage and a decline in
prices of the grain was the taking of quite
a heavy amount OF exports. Receipts were
moderate, 4O7 cars on account of stormy
weather. The market firmed up a trifie
near the end because of some purchases
from the country. December started AQhc
lower at 32Ac, weakened to &c, then i'm
proved to 321s032Ac at the close.
Oats ruled weak with the selling of long
property by prominent scalper the feat
ure. This caused a heavy feeling and it
did not require much assistance from the
declining wheat to cause prices to fall off.
Receipts We're only 2O9 cars, the movement
being curtaied by bad weather. May be-
gan shade lower at 2i19d245sc, declined
to 24l40I242sc and closed at 243sc buyers.
Heavy grain markets and a further drop
in the price of hogs, together with lack of
business. caused a concession in provisions.
Trade was narrow and largely by scalpers.
January pork opened 10c lower at 1915, de-
clined to 1910 and closed at $9.1215. The
range in lard and provisions was incon-
SeQuential.
Estimated receipts for tomorrow: Wheat,
16O cars; corn, 325 cars oats, 155 cars, hogs,
40 900 head.
dino