The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-10-02
VERGE OF %STAGNATION
POSITION OF THE CHICAGO GRAIN
AMI PROVISION MARKETS.
Prices Were Generally Lower and
Trading DulI-The Months Rec
ord I'm Local Business.

CHICAGO, Sept. 3o-An the grain and
provision markets to-day were dull to the
verge of stagnation. and no material
changes In values Of deferred futures took
place September wheat and corn were in
process OF liquidation by long interests, and
declined sharply. The closing of the New
York exchanges had a narrowing effect on
uSdinS. September wheat closed Ha1c
lower, and December a shade lower. Sep
tember corn declined ISc, and December
hc. December oats closed unchanged. Pro-
visions closed unchanged to a shade lower.
Another slight rise IN wheat at Liverpool,
Notwithstanding yesterdays decline In this
market. caused wheat to open firm and at a
fractional advance. The action at Liverpool
indicated that the traders there took a
more serious view of the Transvaal situa-
ton, and caused a moderate covering move
ment among local shorts. There was also
some outside buying through commission
houses. Besides the strength at Liverpool.
the market was helped by the continued
ilsnt receipts at primary points. The i'm
preston apparently prevailed that receipts
VIII continue to run much lighter than a
year ago, and though there was a moder-
ate amount or realizing at the opening ad-
vance. only a slight reaction resulted at the
Time, and prices quickly recovered. The
market was In the main a s~calping one, and
the Dear element, timid at tie recent
strength OF the market under adverse con-
ditiobs. was inclined to sever all short con-
tracts over Sunday, fearing war de-
velopments in the Transvaal. Trad
ers who sold yesterday were prominent
In the buying. The strength. however. was
confined TO the deferred futures. September
shorts had apparently been well hiied nm
anu mCQerdte offerings hV lnnO intorcsfc o..
suited In a sharp break in the price of that
opuon. III so.o at one time at lac discount
under December. Winter-wheat points re-
ported an excellent milling demand. Toward
the close there was increased selling on
prospects or a large increase in the visible,
and the slight advance which had prevailed
soon disappeared. The close was rather
heavy. Minneapolis and Dulut receipts
were $40 cars, against loss last week ana
cars, % OF contract grade. n oIal primary
receipts were 1,z4s,0O Du, ag&o4st l,6y2, OO bU
q year ago, Atlantic port clearances or
wheat and Hour amounted to 1900 blu. The
visible is expected to increase about 1000. 90
bu. December opened 1s4Ac higher, at 73@4c
II sold al 1890, then advanced to 737sc and
declined to 1319c, where 1t closed. Septem-
Der declined from 721zQ72zc at the opening
60 n1zc. and closed Sale lower, at 1ssc.
me led,ure Oh q ouLl session in corn was
which declined 1%c under liquidation by
prominent long interests. The demand was
light, shorts having apparently covered
thoroughly, and prices were easily affected.
A heavy increase in local contracts is looked
Tor, and this affected speculation. Deferred
futures were rather steady early, with
wheat. but later followed September down.
ward, the market closing heavy. The ship,
ping demand was fair. considering the New
York holiday. Receipts were 1,2s9 cars. De-
cember ranged from 2sc to 30hc, and closed
&c lower, at 2s7sc. September closed at
811sc.
Oats were quiet and firm. Shorts were
bidders for September and advanced the
price of that option about a cent at one
time. but the Improvement did not hold De-
ferred futures kept within a narrow range.
The market showed a dropping tendency
late In the day, offerings being freer at the
advance. Receipts were 32i cars. Decem-
Der ranged from Z2Ac to 23c. and closed I'M
changed at 2sc. September closed &c
higher at 22xc. The cash demand was mod
crate.
Trading in provisions was mainly in the
way Of changing. The opening was slightly
lower, In sympathy with a weak hog mar
ket. and kept at a slight discount most of
the session. Packers were the chief sellers.
The cash demand was not so good. At the
close January pork was unchanged at 50. 10;
January lard a shade lower at $500 and
x.62l1. and January ribs a shade lower at
35-O71zG5.10-
Estimated Receipts Monday-wheat, 25
cars; corn, 1.20 cars; oats, 20 cars; hogs,
200 head.