The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-10-25
BEARS RULED THE PIT
rp,x STRENGTH DIsSIPATED AND
MONDAYS GAINS INVADED.
I,cr..sed visible the Leading Factor
i'm Observation-Disclosures anu SYM
patty Affected Corn aud Oats.

CHICAGO. Oct. 2L-After ruling strong
t,, e., mart of the session to-day, wheat
finally s,,ccumbed. under heavy liquidation,
and necember closed with loss of A@Ssc.
A larger increase I'm the worlds visible
sunnI,, than was expected brought about the
change in sentiment. Corn suffered from
realizing and closed sc lower. Oats lost &c
and provisions 2isQ5c
Disappointing cables started wheat rather
easv. The market soon began to harden,
however. as shorts commenced covering
from the outset, owing to reports of con-
tinued drought in the Southwest. where
much of the fall-sown wheat has not yet
terminated. Rumors of sharp break in
ronsols caused further apprehension. and
as outside orders began to flood the pit the
demand became so urgent that &c ad-
vance was added to the opening figures dur
ing the first twenty minutes trading. After
that the ups and downs were frequent
within a rather narrow range until the last
hour, when an increase in the worlds visi-
BILE supply of 4,S75O00 bushels, where only
about 100000 had beer expected, started
liquidation, and the market soon lost it's
previous buoyancy. Reports of a break in
the drought added to the selling movement,
and the early gain was lost. The market
continued weak the remainder of the ses-
sion and closed at the bottom. A report
that Argentine would have surplus of over
so. 600 900 bushels for export this year had a
depressing influence during the late trading.
December opened &c lower at 7ol2G709sc,
advanced to 711sd7114c and declined to 7olzc
at the close. Chicago received 254 cars, five
of which graded contract. Minneapolis and
Duluth got 7ss cars. compared With ]; 400 the
mary receipts were 1,1S3,000 bushels, or 50O-
900 bushels less than last year Atlantic
port clearances of wheat and flour equaled
4es.OOO bushels Cash demand was poor.
advancing tendency clogged somewhat by
proft-taking. There was soft spot early,
with wheat. but poor yields, good cash
demand and lower ra n1n ooa soon siarted
visible gave further impetus to the buying,
and, although liquidation was conspicuously
heavy near the close, prices were well main
tanned Cash demand was good. Receipts
were 73s cars. December opened &c lower
at 31AM31ssc, declined to 311sc. advanced to
311a@315sc and closed with buyers at 31Ad
3l$sc
Oats ruled easy. with trade limited. Re-
ceipts were large-442 cars-but this was
| Offset by a decrease Of $4,000 bushels in the
| worlds visible. December opened shade
| lower at 22%c. advanced to 22Aq227sc and
| declined to 22SsQ22s4c at the close.
Too many hogs and lower prices at the
yards weakened provisions early. Part of
the loss was recovered later on buying by
packers. but there was very little ANNA ton
| to the trade. January pork closed 2laqoc
| lower at s9.40 January lard 211d5c lower at
| s5.3065.S21a and January ribs PIC lower at
| $3.50
] Estimated receipts for Wednesday
| Wheat, 1O5 cars; corn, $40 cars; oats, III
| Ieading futures ranged as follows: