The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-11-01
LIPTON'S PORK CORNER
TOOK A THIRD OF A MILLION OUT OF
THE SHORT BEARS.
October $50 Barrel at the Close
Continued Strength of Grains
Provision Failures Lower.

CHICAGO Oct 3f-The elimination of the
October porlx corner controlled by Sir Thomas
Linton came to-day, when pork for delivery
this month advanced S. rising less than a
dozen trades from 81, yesterdays closing price.
to $40 at the close to-day The buying was by
shorts. who had held off till the last moment.
II was said that Sir Thomas could have made
the price 800 as we'll as $50. but he declared he
had no intention OF Squeezing anybody
AS a result of his deal here Upton is be-
lieved to have made s350.o0o. There were only
IS oC0 brs Of pork that could be delivered, and
the Englishman owned them ALL as well as twice
that number bought from people who did not
have a barrel they could deliver when the time
came When the price reached SIG. some time
ago. the majority of the shorts thought it time
TO buy some of the pork they had contracted 10
deliver approximately $11 per brl during Oc-
tober. Numerous private settlements are said
to have been made. that. while bearsh spec
ulators in pork have received some painful
financial injuries. the wounds have not been
mortal. A private settlement of 1000 bris was
made near the end of the session, Lipton's rep
resentative allowing belated short to take
that amount at SIS per brl. assuring the buyer
that at the close the price would be $40. That
he knew whereof he spoke was made plain to
everybody later, for as the closing bell sounded
samuel WOLF was shouting Dlus Ol sIV.
Wheat was strong and active to-day on Ar
gentine news and higher cables. December clos
ing 1bd1Ac over yesterday. Corn closed &c
and oats 1sc higher for December delivery jan
uary provisions at the close were &c lower.
Throughout the session in the wheat pit spec
ulative eyes were glued on the Argentine ad-
vices Numerous reports confrmatory of pre-
vious ones received, placing the damage
to the Argentine crop at from 40 TO 90 per cent.
An advance of lad at Liverpool was also ere l.
tied to the stories sent out from the other SIDE
the equator. In many quarters there was an
inclination to consider the damage reports ex-
aggerated. December opened ssqSc higher at
leading. advanced sharply to 145sc At this
point proft-taking came. causing reaction to
74ikd74ssc, but as the offerings were readily alb
sorbed further rally ensued. December jumped
to 74a475c and closed 1k91Ac higher at i4%g
747sc. New York reported IS loads taken for ex-
port Clearances at the seaboard equal,
! in wheat and flour, to 2ss. 900 blu. Primary re-
ceipty were Sal. 600 bu, compared with 1Vo0Ooo
blu last year Minneapolis and Duluth reported
AL cars against f3 last week and $50 year
ago. Local receipts were los cars ak OF con-
tract grade.
Corn was quiet but frm influenced by wet
weather West. the receipts, 2o7 cars. and the
wheat strength. An advance at Liverpool was
also encouraging to holders, and of a correspond
iLgly discouragng nature viewed from the stand
point of the short interests. There fair
seaboard demand and clearances were 511.oOo bu
December sold between s45sc and 351sc, and
closed l4c up at Csc.
Oats were quiet but prices held steady be-
cause wheat and corn exhibited siff-backed
attitude. Changing November for later deiv-
cries formed the main business of floor traders.
Receipts $50 December sold between
217sc and 22i1c. with the close at 22o.
ee sier on liberal hog receipts and lower prices
at the yards January pork sold between s1l17ls
and 81 rs and closed &c down at Sl12o; January
at $685. and January ribs between So e21z and
$685. with the close &c depressed at s6s2H.
Estimated receipts to-morrow: Wheat; 100 cars;
corn, 30 cars oats, 105 cars; hogs. $4,000.
Leading futures ranged as follows.