The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-04-05
ON THE UPWARD SWING
PRICE PENDULUM MOVES IN yINDI
CATION OF PHILLIPS.
Corn and Oats Good Adj
sances-Whent Lower, but Steady
Declines I'm Hog

CHICAGO, April 4-Corn and oats re-
covered part of yesterdays loss to-day.
while wheat held steady. The grain trade
was excited generally. shorts covering
Chiefly under the influence of cables. Nav
corn closed 1%c and May oats sc higher.
Wheat closed 1sQAc lower and provisions
at a loss of 5d20c.
Hands across the sea- came to the hold
ers OF May corn and Phillips. the bull lead
er. had little to do save TO witness a favor
able turn OF the market as a recompense
lor yesterdays setback. The LIVERPOOL
market rendered notable service i'm refus-
Ing TO follow the decline on this side yes
terday. This attitude frightened shorts
and for half an hour at the opening trade
was wild. The volume probably aggre-
gated less than yesterday. but EVERYDAY
except Phillips, who bought twice during
the day, was In it. Compared with the pre-
vious close at Also, the market opened
with bids ranging from AZ to 43c. Phillips
took 10000 bu- The market worked back
TO 424c during the forenoon. About noon
a commission firm offered 80. coo of Nav at
4zAsc. Phillips took II and offered the same
price for another similar lot. He did NOT
set II. but the affair created renewed
alarm among shorts. The market suddenly
began advancing and topped only after
4sSsc had been touched. The close was az
4SAc. lAsc over yesterday and only &c
under Monday. Local receipts were ~
cars. ~ OF contract grade.
Wheat was the least firm of the grain
markets. May opened "A shade to AGssc
higher at 12@4c TO T2Lc under the influence
OF the Liverpool market. which did not
respond 10 the weaknes on this side yes
terday. Those who had bought on the
slump the previous session, expecting an
up turn. found a very weak market. Under
their offerings the market was eased off
Country lots came out on the decline and
May was forced down 10 1Lc. 10 under
yesterdays weakest point. A sharn ash
demand and the strength in oats and corn
later caused covering by shorts and May
rallied TO I21ed s2ssc. The close was steadv
with May sMLc lower at 72i,c. Fxnorfers
reported 81 loads taken. Seaboard clesr-
ences In wheat and -four We're eo,al 10
zzieo blu. not including Baltimore. which
port. owing 10 wire trouble. was not heard
from Primary receipts We're 400 go bu
compared with $4,000 last year Mimi,
apolis and Duluth yrported 269 cars. AGAINST
3D last week anu 467 a year ago. Local
receipts were 80 cars, none OF contract
grade
Speculative business I'm the oats marker
was not heavy. but prices were strong
and the market recovered nearly ali of
Yesterday decline. The corn strength
and a good cash demand-and the cash
article was worth half a cent more than
May-were strengthening factors. Nav sold
between &c and sac. and closed Ac higher
at z5Ac. Receipts were 23f cars.
The undertone OF the provisions market
was easier on selling by packers, although
there was a good demand from Liverpool
for lard and ribs. The weakness OF Nav
pork. for which there was no particular
demand. was the chief factor IN depressing
other hog products. May pork sold be-