The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-12-12
BREAK in WALL STREET
1T HAD A BAD EFFECT ON THE
GRAIN MARKET AT CHICAGO.
Wheat Went Below Puts, and Closed
Grains Lower, Provisions Steady.

CHICAGO, Dec. 1.-THE panicky condf.
ton of Wall street exerted a downward
pressure on the wheat market to-day, Nav
closing at loss of &c from Saturday
Corn, also, was Influenced. but was stead
fed by the weather. May closing &c down.
Oats finished shade lower, and provisions
unchanged to 21zc under. Flaxseed adj
vanced Base.
Wheat opened barely steady, May I'M
changed from Saturdays close, at 697sG7Oc,
trembling on the brink and then tumbled
over, impelled by the downward pressure
of the panicky condition of Wall street,
an Increase in the visible, where a liberal
decrease had been expected, and large
worlds shipments. The first slump carried
May under puts and on buying against
this privilege, the market held steady at
the decline for awhile, May fiuctuating
between 69ss@6S9sc for some time. The in
crease in the visible. coming on top Of
predictions of a liberal decrease, precipita-
ted considerable long wheat into the pit.
and the market sank without support to.
Csc for May. This option closed &C under
Saturday. at e9h@69Ac. Local receipts were
40 cars, forty-nine of contract grade. Min
neapolis and Duluth reported 600 cars,
against go last week and LAS year ago.
Primary receipts were 4S3, 900 bushels, COM
pared with 900 last year. The visible
increase was put at 514.00 bushels. Atlantic
port clearances for the day were 2S6,
bushels.
Corn was easy with evidences of i'm
portant selling, probably animated by the
Wall street security break. Wet weather
was a steadying influence the interruption
of the movement resultant to the rains re-
sisting the downward pressure from the
New York Bourse. A decrease in the Wis
ible of 5000 bushels. and in local stocks
Of BOOO, had a steadying tendency. There
was some activity early. but the greater
portion of the session was dull. Country
offerings Were. usual, small. Receipts
here were go cars. May ranged from
32hc to S3sc. closing Ac down at 32%q
S2Ac.
Oats barely held their own. fair cash
demand contending against depressing
conditions in the other markets There was
little done in specializing, and the range
was narrow. May sold from 2flsc to 235sQ
24c. closing a shade under Saturday at 24c.
Receipts here were 242 cars.
Provisions were firm, supported by con-
siderable outside buying. The Wall street
weakness was felt to a degree, but as all
offerings were readily accepted, the price
did not suffer. The local run of hogs was
under the estimate and at Western points
receipts were under last yefr's. May pork
sold from S1005 TO $l0.l0, and closed I'M
changed from Saturday at $l0O5; May lard
from $5.55 to $780, closing 2l9c lower at
$555, and May ribs from S.31ie TO S.37leq
$40 closing unchanged at $5.37n.
The fiaxseed market was firm, selling
from Sc to &C better The advance in Du-
luth market caused considerable buying
here. December opened at $1.46 and closed
at 81. 40 bid; May opened at $l.4O and closed
at $145
Estimated receipts tomorrow: Wheat,
lis cars: corn, 30 cars; oats, 20 cars;
hogs, 81 900 head.