The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-08-01
GREAT SLUMP in PORK
YELLOW FEVER SCARE CAUSED A
BREAK IN CHICAGO MARKETS.
September Wheat Opened n Cent Low
er and Closed at 60 5-Sc-Enect
of Corner I'm Oats.

CHICAGO. July 31.-Yellow fever in the
United States demoralized the provision
market to-day and caused a break that has
not been equaled in many months. Pork
declined 571kc; lard. 1712Q2oc. and ribs. Esq
27lsc. Grain markets were all weak on ia
vorable crop conditions, wheat declining
IA: corn, sc, and oats, lsc for September
July oats, alleged to be cornered. showed a
decline of size for this, the last day OF the
month.
With almost everything favoring lower
prices at the opening, wheat started at de-
cline of full cent for September, that OPP
ton opening at 697sq70c. In the course Of
the first half hours trading further slight
decline took place, September touching 6s4
669kc Liverpool showed decline OF about
lid, while continental markets all showed
weakness. Foreign advices all told OF ia
vorable crop conditions throughout Europe.
Domestic conditions were also favorable.
Frost had been apprehended in the North
west, but the weather was reported as ex-
ceptionally favorable, with crops in many
localities already out Of danger. The
worlds shipments were put at $4,000
bushels, compared with 3SS0.00o bushels a
year ago. These figures proved an addi-
tional incentive to short selling. Northwest
receipts continued liberal, Minneapolis and
Duluth reporting 535 cars, against 500 last
week and 217 year ago. Chicago receipts
were 100 cars, seven Of contract grade.
When the visible figures were announced,
showing a small increase Of 5000 bushels,
the market became notably stronger, a re-
covery to 70Ac taking place in September.
The rally did not hold long. Export demand
was light, New York putting the engage
ments at but Is loads. To-0ay's primary
receipts were $4,000 bushels. Atlantic port
clearances equaled 5000 bushels. During
the afternoon the market became weak
again on small amount Of trading. Longs
who had withstood the pressure during the
morning weakened when the price again got
below zoe, and offerings from that source
caused a gradual decline to 69ssc The close
was weak at 69ssQ6S34c for September.
Corn in the main followed wheat and
acted weak all day, closing at the bottom.
News was bearfsh, crop CONDITIONS being
favorable, receipts large and foreign mar
kets weak. There was scattered liquidation
by longs all day. Receipts were 6Sl cars.
The seaboard reported engagements of so
loads, September ranged from So*4c to Slsc
Interest in oats centered in the July deal,
and heavy selling by elevator interests
have been cornered, the close showing loss
OF 5hc. Shorts were the only buyers, and
they took hold sparingly. Receipts were lib
Distant options were weak in sympathy,
but so little traded in them that only q
cash demand. July opened 1c lower at 25c
and closed at 201ac. September ranged from
19c to 191s@l9I4c and closed 1sc lower
vision pit, and the market was In a. demon
allied condition all day. All classes of hold
ers sold at the best prices they could get.
and, as the demand was light at all times,
prices melted away with remarkable rapid
ity. The market opened weak and lower for
all commodities, and under steady selling
pressure ruled weak to the close. Liquida-
ton was mostly from the outside. commits
sion houses leading in the selling. At the
close September pork was 5ll1c lower at
$825; September lard, 171aG2Oc lower at
s5221s, and September ribs, 2Sq271sc lower
at $3.50.
Estimated receipts for Tuesday-Wheat,
1900 head.