The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-09-11
LOW PRICE OF THE WEEK
WHEAT SAVED FROM TOTAL COL
LAPSE BY DREYFUs VERDICT.
Mn rket still Has a Weak UndertOne
and the News Continues Bearish
Other Markets Lower.

CHICAGO, Sept 9.-The verdict in the
Dreyfus case and the consequent excite
ment in Paris saved wheat from a decline
to-day, the market closing unchanged for
September and only a shade lower for De-
cember. Domestic and European statistics
tended toward lower prices early in the day.
Corn continued to decline and closed Ac
lower Oats declined sc for September aud
unchanged for December. Provisions closed
about 21ec lower.
Wheat opened weak at a decline Of about
hgssc for December and September receipts
of wheat in the Northwest were much heav-
Ter than a week ago and Liverpool was
lower. The general trend Of the market
has been downward for several days. and
this sort of news easily put the balance OF
trading on the selling side. The selling
pressure at noon was heavy, but the de-
mand was so light that prices declined
steadily, weakness being especially marked
In the deferred futures. The market soon
got under puts and at that point became
steady under fair buying against those priv
ileges, but did not show signs of any reac-
ton until late in the session. when the re-
ports of the verdict in the Dreyfus case
were posted and fears of excitement In
Paris caused some covering by shorts. The
| buying, however, was only sufficient to
bring prices back to about yesterdays clos
| ing point. The market was affected in. a
| bearish way by the increase of 10000 bush
| els in the European visible for August,
| compared with a decrease last year of $780,
| 900 bushels The big Russian stocks or
| $500, 600 bushels also came as a surprise to
| traders and were responsible for some IL
| uuidation. After the first selling September
showed considerable steadiness Elevator
people continued to buy and this kept prices
| close to yesterdays closing point. North
west receipts were GIG cars, against
| 63S last week and 1,4e2 year
| ago. Chicago receipts were NS
| cars. nine of contract grade. Total pri-
mary receipts were 1.1S3,000 bushels, COM
pared with 1,254,OOO bushels year ago. New
| York reported a fair export demand, with
| about thirty loads engaged. Toward the
| close the market was practically at stand
| still. Bearish statistics were expected Mon
day, and with this belief traders were dis
| inclined to do much. December opened
AQ3sc lower, at 11sc. 1t declined to WAC
7O3sc. and rallied to 71Ac, where it closed.
September sold as high as 705sq7O34c, and
| closed unchanged at 703sc.
Corn was dull and heavy General com
mission house liquidation was the feature,
! and prices declined about Ac all around Inc
market got to both daily and weekly puts,
| and had some support on that account The
| breaking of the drought and continued large
receipts were the factors Receipts were So
| cars. December ranged from 2SAc to 2S12c
and closed l4c lower at 2S3sc.
Oats were fairly active and Irregular:
| Early in the session there was marked
| disposition to realize by longs, and prices
declined The liquidation of September was
| especially heavy. Later a firm feeling de-
| veloped, partly on the continued excellent
cash demand, and the close was steady;
| Receipts were 426 cars. December ranged
| from 203sc to 2l2c, and closed unchanged al
2ossQ2Olsc. September closed 1sc lower at
| 21isc.
Provisions still showed the effects of the
| yellow-fever news, and ruled slightly lower
| all round. Liquidation took place in all
| products, but the good cash demand foI
meats caused some rally late in the session
| At the close October pork was 212c lower al
ss05, October lard 21ac lower at $5271a, and
| October ribs shade lower at $5.25.
Estimated Receipts for Monday-Wheat
| 100 cars; corn, $50 cars; oats, 300 cars; hogs
| $4,000 head.