The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-01
WHEAT DEAL WOUND UP
THE LAST DAYS TRADE OF 1897
BROUGHT NO EXCITEMENT.
Chicago Spectators Who Had Fig
ured on Lively Times Greatly
Disappointed-POrk Higher.

CHICAGO, Dec. S1.-The December wheat
deal, like the proverbial March weather
'came in like a lion and to-day went out
like lamb" There was no excitement at
tendant on the closing session, December
winding up at csc, or &c above yesterdays
close Speculative business in May was
light, but firm. that month closing at ssQ1sc
advance. Corn and oats were lfeless and
closed at substantially unchanged prices.
Provisions were very strong and closed 10Q
25c higher.
1t was typical holiday market in wheat,
Notwithstanding the fact that it was set
Element day and the session marked the
close of one of the most gigantic deals in
actual wheat on record. There was not a
trace of excitement either in the cash ar
tce or in the speculative futures May was
quite firm at the opening, starting 1zc higher,
at 925sQ92%c. A few small sales were made
a moment or so later at 921aG925sc. but the
market advanced at once to 93c, around
which figure it hung for some time. The
feature Of the early firmness was the sur
prisng strength shown by Liverpool which
market showed I'D advance, in the face of
12c decline here yesterday Some of the
strength, too, carried over from yester-
days War-scare curb market. After a little
show of activity around tn opening the
market began to feel the effect of holiday
spirit and became exceedingly dull. Local
receipts by rail were 107 cars, of which forty
were contract, and $500 blu contract wheat
was received by canal. The total addition to
contract stocks in regular houses was about
900 bu, and it is calculated that the en-
tire amount Of the grade now applicable on
contracts is 100000 bu- Minneapolis and
Duluth received 597 cars, against 701 the cor
responding day of last week. There were no
shipments of wheat from Argentine this
week Beerbohm estimated that in conse-
quence OF having imported earlier in the
season in excess of immediate conSumptive
requirements the weekly needs of foreign
wheat and flour in Europe for the remainder
of the season would be 6960OO0 bu and the
statistical authority calculated that the
available surplus in export countries to the
100000 bu week of supplying the require
ments. The exports from Atlantic ports
were again surprisingly liberal, without the
returns from Baltimore, and clearances to-
day were equal to 573 eco Blu. OF that guam
tity New York contributed $50 900 blu. The
market became stronger on this, May adj
vancing to S3Ac. There were cOmparativ
liberal offerings at that price and about l
o'clock the price was down to 92bQ92Ac.
There strength again developed and In the
last few minutes trading the price ad-
vanced to 925sc, where 1t closed. Nothing of
a sensational character developed in the
december deal. Allen-Grier We're buyers of
December and sellers of May at &c dis
count for the latter, when any one could be
found willing to make the change. The price
of December held between 941b095c all fore
noon. 1t closed the day before at 94Ac
During the afternoon December sold as high
is Csc and closed at CSC.
Corn was exceedingly dull, traders show
ing almost no interest in the market the
result being a range in prices Of only 1sqAc,
The feeling throughout was firm principally
through sympathy with wheat. Short sellers
of yesterday were the principal buyers to-
day. May ranged from 291sl30c. to 299s02934c,
and closed shade higher, at 29SsQ29%c
Oats were SLOW though showing more life
than corn. The feeling was firm early. es-
pecially for December, caused by the even
ing up of short lines. A decline followed, due
to the general dullness and a little realizing
by scalperS, the market closing steady and
unchanged. May ranged from 2SAc to 231ac
and closed at 239sc.
Provisions were fairly active and very
strong throughout. Opening prices were
higher with wheat and on the better hog
prices. Heavy commissioner buying
kept prices the advance all day, offerings
by holders being made with profits, the only
important selling being readily absorbed.
Armour was buyer in the last hour. At the
closing May pork was Csc higher, at $9.221s;
May lard 10c higher. at $4.S7l2, and May ribs
1212c higher, at $4671A.
Estimated receipts for Monday-Wheat, $50
cars; corn, $50 cars; oats, 440 cars; hogs,
5000 head.
Iaadipo f1It11rec roporod oS foIIoD,e.