The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-07-23
Ranges from Three Cents In
Oats to Four and Seven-Eighths
in Corn, with Wheat Between.
PROVISIONS ALSO SHARPLY UP
CHIEF ACTIVITY IN PORK. but ALL
IN FAIR DEMAND.
New York Corn Pit Driven to the
Verge of Pnnic-Net Advance of
Four Cents for the Day.

CHICAGO, July 22--In the grain pit this
was a wildly bullish day. Impelled by the
hopeless tone Of advices from the parched
prairies. wheat. corn and oats scored sensa-
tional advances and closed excitedly strong,
respectively S7kc. 4asc and 3a3kc higher for
September delivery. Provisions closed
higher in sympathy. September pork adj
vancing 35c.
Wheat opened with a demand for Septem-
Der from 69isc to 7OAc. an advance of Vase
TO 1Aa17sc. due to higher cables. rather
bullish statistics and sympathy with corn,
but 10 a greater degree TO reports of heat
and drought in the Northwest, coupled with
messages claiming damages had already
reached a serious stage. In the Dakotas
and in Minnesota many fields were said to
have been shriveled by the dry, scorching
winds. Realizing. largely by the local pro-
fessional interest. caused an early drop to
6sA06s7sc. This selling movement was of
considerable weight. but buying orders &C
cumulated fast and after a few Moments of
depression the market became wild again
and shortly after noon September was bid
up to 1850. Realizing sales again exerted
great pressure. but the market yielded stub
bornly and the close was excited and
StIOHS, september oiSC over SdluIudy dl
72Ssd72i2c. Worlds shipments last week
were 1875 900 bushels. the quantity ahoat
showed a decrease of 1884. 600, and seaboard
clearances were equal to SSl u Primary
receipts aggregated 1,5l5,0O0 bushels. Min
neapolis and Duluth reported 44 cars.
against 474 last week and $3.50 a year ago.
Local receipts were 247 cars, Ill OF contract
grade.
The bulk OF corn handled changed hands
at prices at least 3 cents better than Satur-
days level. There was a demand so frantic
that IL would have seemed almost reason
less, had II not been that traders were
again confronted with unlimited reports of
withered crops throughout the corn belt and
a weather forecast promising no relief.
September opened with a chorus of bids
from 81 cents to SO cents. Selling by local
longs influenced an early reaction TO 5S
cents, but here the sweeping demand from
the country. as we'll as from local people.
caught the market and September scarcely
stopped advancing till 1913 cents had been
paid for a small lot. The close was strOng.
ass cents higher at 59ssq5913c. One Of the re-
ports which was influential said that a rail-
road was carrying back TO Kansas 200. coo
bushels of corn from Minnesota. 1t was said
there were 100000 bushels more of the
Kansas grown corn awaiting reshipment to
the drought-stricken districts. Receipts
were 260 cars.
The oats market advanced actively in
sympathy with corn. Ii was a wild market
and difficult TO trade in. as sellers were few
arl far between. save at the best figures of
the day. An enormous business was trans
acted, both for local and country account.
Receipts were 81 cars. September sold be-
tween 36hc and 3s1sc. and closed 342lsc
higher at 3Shd3SLc.
Provisions were moderately active. There
was a sharp demand for January option,
largely I'm sympathy with corn. September
was purchased on a more moderate scale.
September pork closed 35c higher at $l4.57Ia:
lard &c UP at $50 and ribs 10c improved
at IS.
Estimated receipts to-morrow-Wheat.
$50 cars; corn, $50; oats, 145; hogs, 5000
head.