The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-09-15
H RECEIPTS
AND SELLING ny FOOL AGENTS
STARTED PRICES DOWNWARD.
September Article Dropped Under De-
cember Again and Closed at a
Loss-ProvIsions Lower.

CHICAGO, Sept. 14-Heavy primary re-
ceipts and indications everywhere of a rush
of wheat this WY took the life out of wheat
bulls to-day and depressed prices about 1zc.
The impression prevailed that there had
been private settlements of all important
September shorts. September corn was firm
and closed &c higher, but later deliveries
were heavier. Oats closed unchanged and
provisions unchanged to 7lsc lower.
Uncertainty as to the September wheat
situation made wheat rather feverish at the
opening, and for a short time a really large
business was done. Gables were strong and
higher. and this and yesterdays bulge in
September, due to the elevator fight, gave
a tone of bullishness to trading that was
reflected in slight opening advances In the
deferred futures. The bullishness gradually
disappeared when weare. who was so prom
inent In yesterdays september dealings,
was seen to have considerable September to
sell. This at once relieved the tension in
that respect, and the September premium.
at one time 1kc over December. gradually
disappeared altogether. Rumor of private
settlements of September by big shorts were
current. and that gave rise to the belief
that the congestion had been relieved. The
inclination among local professionals was
apparently to sell, and support came prin-
cipally from the outside, most of the com
mission houses having buying orders early.
The September tension once removed, the
market became exceedingly dull. New York
reported good acceptances of last night
cable offers and the Northwest reported an
excellent cash demand, but the market in
q general way showed heaviness until the
primary receipts were posted. when posi-
tive weakness developed. Total primary re-
ceipts amounted to 1,134.O0 bushels. about
10000 bushels more than were received a
year ago. The weakness was increased
when Minneapolis and Toledo reported Chi
cago elevator people buyers of cash wheat
in those markets. and during the latter part
of the session a good deal of long wheat
Duluth receipts were S7s cars, against 7ss
last week and 94 a year ago. Chicago re-
ceipts were LA cars only one Of CONTRACT
taken for export. Atlantic port clearances
of wheat and flour amounted 10 40o.OW bush
II here. was Deeemb spo opened de' a shade
higher, at 71%Q7i1kc. 1t advanced to Use,
then sold down to 70zc, closing at 70&Q10sc.
7Os, closing fkc lower, at z%c. Weare was
bidder for September late in the session.
which caused the rally in that option. Large
| purchases of wheat at Southwestern points
for shipment to Chicago were reported.
| Corn was irregular and fairly active. A
feature was Va; II the ehs strength reng Oh Sept oa ssn
TENDER wheat and the small stocks of corn,
| which made shorts inclined to get out.
| Prices advanced sharply early, but heavy
| liquidation by longs followed, nearly all the
advance being lost. The market was strong
| rather late in the session, following wheat.
| Receipts were 80 cars. The demand was
poor, business being restricted by the high
lake rate. December ranged from 2sl1c TO
| 2SzG2SAc and closed a shade lower, at 2S1s
| Q2Sssc. September sold as high as S2Ac and
closed NC higher, at 31Ac.
| Oats were very dull and independent fea-
| lures were lacking. Prices were up Non
at one time. in sympathy with other grain
markets, but later this was lost. There was
| a capital cash demand. Receipts were SIG
| cars. December ranged from 207sc to 21c
and closed unchanged at 20Hc. September
sold at 2llsc and closed unchanged, at 21hc.
The market for provisions was neglected.
| There was some firmness early with the hog
market and the good cash demand, but the
market sympathized with the late weak
ness of wheat and corn and the slight adj
vantage was lost. Most of the light trading
was in January product. was
more pronounced in October than in later
deliveries. At the close January pork was
a shade lower. at So. 521zG9.55 January lard
unchanged, at $5.47R, and January ribs a
shade lower, at $4.95.
m receipts for Friday-Wheat, 135
cars; corn, 42 cars; oats, 37 cars; hogs,
| 1900 head.
Leading futures ranged as follows.