The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-06-26
OF FIVE CENTS
O WITH A A IN
THE FIRST FEW MINUTES.
ubseauentIy ReEaincd All but Two
Higher-PrOvisions Lower.

CHICAGO. June @.-wheat broke nearly
sc to-day under heavy liquidation but
closed steady at q decline of &c from Sat-
urday's close. Corn closed 1d1hc down,
oats &c higher and provisions from 17Ec 10
zoe reduced in ribs to s21kc lower for pork.
1t was a wild day In wheat-a battle be-
tween bulls and bears, in which the latter,
for the first time in weeks, scored a VIC
tory. July opened at S7Ac to s61zc and sold
between ss12c and s3Ac. closing &c under
Saturday. at SEC. There was some dispute
as to what really were the opening figures.
so many trades took place at the sound of
the gong. Some made the initial range
from SSc TO S61zc. Certain it Is that all
sorts of prices were paid in a tumble and
that two minutes after the opening July
changed hands at SSGSshc. In the field of
news the bulls retained their old friend, the
Northwest crop wreck. Manitoba had rain.
but Minnesota and the Dakotas reported
dry, scorching weather-the kind that
burns up vegetation In short order. One
Dakota reporter had the temerity to men
tion the appearance of fly. What harm fly
would find left to do was not mentioned.
On the bear side of the bulletin board was
the Liverpool weakness in the face Of the
4sc advance here Saturday, the excellent
conditions prevailing in the Southwest and
the heavy worlds shipments, which in
cluded 100000 bu from Russia. The visible
was also on the bear side of the fence.
showing an increase of 1.34S, 900 bu.
The southwest said: Look out for a big
movement" and declared that harvesting
was progressins in many sections under the
most favorable circumstances, with prom
ises Of wheat enough TO go a long ways to-
wards making up the deficiency caused by
the Northwest failure. The items given
undoubtedly had some influence In the SELL
ing. Longs were profit takers Saturday
and they were ready for more to-day. The
news had the effect Of prodding them along,
and. to a degree. of lessening the demand
west was still credited with paying good
prices here to make up the home deficit.
For a time following the opening the mar
ket held steadily over SIC. Shortly before
noon, however. July sagged to 81 and then,
all In a few minutes. broke to $3.50. At Sc
~stop-loss orders In large numbers were
reached for the first time since the recent
advance began and there was such a rush
to sell that between Sc and the bottom
there was scarcely a check to the decline.
Support. credited by many to Wall-street
interests, caught the breaking cereal at
SSAc and hauled II back to SEC, at which
the market closed. Receipts here were 1s7
cars, ten of contract grade. Minneapolis
and Duluth reported 44 cars, against 69
last week and 9s1 a year ago. Receipts at
0ta1 o4DsOVV u NoLl-
pared with 1,222,00 a year ago. Clearances
at the seaboard, in wheat and flour, were
| equal to 393, 900 blu.
| Corn was active and suffered with wheat
and was at one time 2Sc lower than it closed
Saturday. 1t recovered 11sc of this loss and
| closed 1Q11sc lower, at 41d41hc. The range
for the day was between 1k642 and
4oac. Throughout wheat furnished the mo-
| tive. Country offerings were reported
larger. Longs were heavy sellers, with
shorts and some of the old bull crowd buy
ers on the breaks. Receipts here were SIC
| cars.
Oats at one time on the board held
against the downward pressure. With the
break in wheat oats dropped off, but re-
covered in good shape. The support came
from the Northwest in the shape of damage
1 claims, accompanied by buying orders,
| July sold between 26c and 24%c and closed
| &c over Saturday, at 25%c. Receipts were
| 24 cars.
Provisions were weak under heavy hos
receipts and the wheat decline. There was
q fair outside demand which became eff.
| fective at the bottom and caused some re.
covery. The close. however, was rather
weak at that. July pork sold between
$12.55 and s12.10 and closed 321ac under Sat.
urday, at $12.S211s; July lard between 81 an6
s6.S5, closing zoe lower, at $6.s71h. and July
ribs between s7.0715 and 1921, with the
close 111xG20c down, at Sc. 9066.9 7h.
Estimated receipts to-morrow-Wheat, PSI
cars; corn, 1,057 cars; oats, 172 cars; hogs
$1,000 head.