The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-10-03
MARKET SCENTED WAR
A BULLISH SENTIMENT SWEPT OVER
THE PITS AT CHICAGO.
All the Products Closed mt Higher
Prices-LOcal was Ac-
tive, with Small Advances.

CHICAGO. Oct. 1.-The prospect of war
between Great Britain and the Transvaal
was the predominant factor in all the grain
and provision markets to-day and caused
sharp advances in some instances. A big
foreign demand for American cereals was
also a feature. December wheat closed nc
| higher and May 1kQ1Ac higher. Corn adj
vanced kGAc, oats hQssc and provisions
21z@10c higher.
Wheat started strong. at an advance of
Sale for December and &c for May, which
latter option was in considerable demand
throughout the session. War in the Trans
vaal was considered almost certain by Eng
lish traders, as was shown by a sharp ad-
vance in the Liverpool market, and this
fact strongly influenced local traders. Be-
sides this primary receipts showed a big
falling off and the foreign demand for
wheat was excellent. The demand was
quite general at the opening, outside invest
ment buying being much In evidence and
December, opening at 73s@74c, soon ad-
vanced to 74Ac. This price was we'll above
call figures. and selling against those priv
ileges and the usual realizing by longs
caused a temporary decline. December re-
acting to 74c. This, however, was the only
soft spot of the session. Prices were soon
ooNh ~ . oAA NAO1e4 khS -
of trading fell off for a time no further de-
cline resulted. There was apparently a
quiet absorption of all offerings by some
important interests Toward the close OF
the session the market again became very
active and broad and prices advanced ma
terially. A report that diplomatic rela-
tons between England and the Transvaal
had been broken on and martial law pro-
claimed in Pretoria put a sudden stop to
selling of any kind, and prices were bid up
quickly. Considerable interest was taken
in the May option. There was a good out
ence between May and December widene6
10 &c In consequence. Minneapolis ana
last week and 2.44s a year ago. Chicago
receipts were 100 cars. seven of contract
grade. Total primary receipts were 100000
bushels, against 2,236.e0 a year ago. The
local cash demand was large. with sales or
at least 100000 bushels reported for ex-
port Other big shipping points reported a
thirty-nine loads taken for export. The Wis
ible supply showed a heavy Increase, 2,415,-
market. ST. Louis was a big buyer in this
market. December advance to 74Bc and
closed at Had74sc. May ranged from
nc nc 70 "N' anu ''ose' i'sp'''' "'s"ef' a'
Corn was fairly active and strong. Shorts
were heavy buyers of both December and
May. and both futures scored material adj
vances. Prospects of a war In the Trans
vaal was a prominent factor In the advance.
Inc shipping uemdnQ was uDdDdteO, the
seaboard reporting t52 loads taken for ex-
port. Receipts were 9S cars. December
ranged from $3.50 to 301ac and closed 1a0%c
higher. at SGssq D3cstMay closed &c higher,
at 31hc. VI
Oats, in common with other grain mar
kets, were active and higher. Prospects
of war made shorts uneasy and covering by
that class of traders resulted I'm good ad-
vances. The small increase in the local
stocks. 49,, 600 bushels, and the continued
heavy cash demand were also factors, Re-
ceipts were 81 cars. December ranged from
227sG23c to 23isd23Ac and closed Ad&c high
er. at 23hd23Ac.
Provisions were only moderately active.
Prospects OF war. small deliveries and the
strength of grain markets were reflected by
provisions and fair advances were scored
in all products. The market was strongest
near the close and fihal prices were about
the best of the day. Al. the close January
pork was loo higher, sat 1915; January lard
&c higher. at s5.671an and January ribs &c
higher, at $5.15.
Estimated receipts Tuesday-Wheat. 21O
cars: corn. $50 cars: oats. 275 cars; hogs,
24.000 head.
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