The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-06-25
Total Gain for the Day Was 4 rs
Cents, with Curb Sales a Cent
Higher, at 50 Cents Flat.
CORN AND OATS INFLUENCED
BOTH TRAINS STRONG, GIVE AND
MATERIALLY HIGHER.
Provisions Excited and Strong, Max
ing Good A-dvances-New York
Grain Pits Panic-Strfcken.

0UlE @or-O0ly NlCdls al lut
close of a sensationally bullish session to-
day. closed 47sc over yesterday at SSc. 1t
sold Immediately after the bell rang at soc.
A strong advance at Liverpool and the al
most total destruction of the Northwest
crop were the factors. Corn closed IAG1Nc.
and oats &c Improved. Provisions were ex-
cited, July pork closing Az. July lard l5c
and July ribs 171zc better than the close
yesterday.
July wheat opened 2Sc to csc higher at
SEC to SIC, advanced to ssc. declined to s6Ac
and then rallied to Ssc, closing at the last
given price. 47sc over yesterday. This in
cold figures is the story of a wild, panicky
and decidedly bullish market. The opening
was rather startling in it's strength, but
Throughout the session the market had the
appearance of bullishness gone wild. An
advance Of Sd at Liverpool and a mass of
messages reporting an almost total failure
of the spring wheat crop in the Northwest
brought in buying orders by hundreds.
Many sections of the Dakotas and Mime
sofa. and of Manitoba, reported total fail
ures. Others told of thin. spare. sickly
crops, good for 3 TO s bushel to the acre.
There was still no indication of rain in the
Northwest. while the temperature re-
manned high. There was little talk, to-day,
of Improvement IL good rains should fall,
even at this late date. Statistician Shows
estimate of a crop of 5000. 900 bu for the
three States. should there be no further
deterioration. was considered too high, by
many. to-day
At the opening the pit was jammed with
buyers. and sales were made all the way
from sec to SIC. Heavy proft-taking by
longs kept the crowd from going perfectly
crazy There was. apparently. no big short
interest. Longs, following the opening,
forced July back to s5zc. by dumping large
lots on the market. Then the market
bucked with a vengeance. The Northwest
was a heavy buyer. as usual. and foreign
ers with whom most of the short interest
apparently lay, covered freely. July, under
this buying and some let-up in the realiz-
ing pressure. bounded to SSc. Longs crushed
1t back to S6Ac again, but permanent dips
were not on the schedule and the market
closed entirely recovered. July 47sc over
yesterday at SSc. This Is an advance of
1zlc since last Saturday. Before the crowd
left the pit. July wheat sold at soc. The
cash business was a small consideration.
, Atlantic port clearances, in wheat and
-four, were equal to $4,000 bu. Primary
points received $1,000 bu compared with
1867, 900 last year. Minneapolis and Duluth
reported all cars, against All last week and
SIS a year ago. Receipts here were 149 cars,
Is of contract grade.
Trade in corn was active and broad. The
great wheat strength was unquestionably
the influence, as country offerings were
heavy, receipts liberal and the shipping de-
mand poor. Following the opening advance,
selling by longs forced the price back, but
q rally followed and the close was with
most of the advance held July sold be-
tween fl7sdi2c and 43c, closing 1HG1%c up
at 421zH425sc. Receipts here were rs cars.
Oats were active and strong. Wheat was
a great bull influence, but Northwest dam
age 10 the crop and loss of hay and pasture
in that territory were important factors.
Local interests took profits on the bulges
and elevator people were sellers. July sold
between g and 26c, closing &C over yes
terday at 251zc- Receipts here were 39
cars.
The provision market was excited and
strong. At the best, pork showed an adj
vance of almost s1.00, lard 2c and ribs Csc.
The market took Its start from the grain
advance. Outsiders came in a rush as
buyers, and shorts were in a semi-panic.
From the top the market reacted partially.
selling by packers being the factor. July
pork sold between S12.30 and SIS, and closed
471zc over yesterday at $i2.65; July lard be-
tween $705 and S.17l, closing 15c higher at
S7.07Iz. and July ribs between $7121z and
receipts Monday: Wheat, lis
5000 head.
Toa1inO f,,trrreS rapoed as folIous.