The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-09-15
ALL CEREALS SLUMPED
FROST NOT SEVERE ENOUGH TO
BENEFIT CHICAGO BEARS.
Anti-COrner Decision Also Affected
the Market, and Corn and Other
Grains Closed Lower.

CHICAGO, Sept. 13.-Frosts of reported
killing severity had no effect on the prices
of grains today. Expert corn shorts, after
analyZing the situation, declared them
selves powerless. Prices lost all semblance
Of firmness, and. when 1t became known
that Judge Chytraus had ruled against
the board and its members who were de-
Tending the July oats corner cases, general
slumps followed. At the close September
wheat was %c off, December wheat 5sQAc
lower, September corn 1c down. December
corn as@7sc depressed, and December oats
14c off. January provisions closed un-
changed to 1Oc lower.
Corn started trife better than It left
off last night. The frost was the steady
ing influence. Reports. however, were con-
fiicting as to the damage done. especially
those from Iowa. Some advices had it the
crop was hurt 30 to so per cent, while 9TH
ers said the damage was slight. Outside
orders were light and the crowd soon turned
toward the selling side. Warmer wealth
er predictions had much to do with the
change in sentiment, but in this, as In ev-
cry other pit on the floor, the courts rul-
ing against the power of the Board of
marginal deposits had a depressing effect.
Receipts showed some increase as well as
a greater percentage Of contract trading
than for some time past. The best prices
of the day were made at the start, al
though an excellent export business devei-
oped. December started at 441sc and
slumped lie to weak close %@hc down at
4S1sc. September sold from Coo to eO4c, and
broke TO weak close, &c off, at Sc. Re-
ceipts were EOS cars, Go of contract grade.
Wheat opened without much change in
prices, but did not long maintain its steadi-
ness. There was feeling early that furth-
er 1rosts last night would brace up corn
TO such an extent that wheat would be
down after. When corn disappointed there
was liberal selling on some bearish re-
ports. Receipts i'm the Northwest gave I'M
mistakable signs of an increase in the
spring movement and the weather was
further aid in that respect. Cables were
lower, the sentiment was bearish and there
was some selling on stop orders. Large
e estimates or worlds shipments. over 10,Ooo.
OU bu for the week, had it's weakening in
huence as did the talk of quiet selling by
heavy holder of long wheat. September
opened sc up at 7s1zc fell to 72lsc and rail-
lied fairly, although the close was weak
sc lower at 72$4c. December started a
shade up to shade down at 691s069c and
closed at its low price, $Q%c lower at 69ssc,
tract grade; Minneapolis and Duluth re-
ported $50 cars, making a total for the
three points of 962 cars. against 572 last
week. This day last year was a holiday
Primary receipts were 1,lSs. 900 bushels Sea
board clearances in wheat and fiour
equalied $4,000 bu. The seabord reported
3O TO 81 loads taken for export. Oats
showed even less animation than yester-
day, prices moving only Sc. Weakness in
other pits and the oats decision were the
factors in depression that lost &c for De-
cember options in the days business. A
fair demand developed on the slight breaks
and thus checking a further decline. Trade
was peculiarly local and largely of a
scalping nature. December sold between
3l19c and 3lbc and closed at 31lc Re-
ceipts were 1S4 cars, IL of contract grade.
Provisions eased off after there had been
steady firm hog market influencing offer
ings in January pork. There was consid-
erapie covering later and the nearby
months all showed Improvement over YES
terday, although trade was dull Lower
| grain prices had some effect and January
| products closed weak pork 10c lower at
Sl5.l21a. Lard, 2xc down at $3.50, and ribs
unchanged at $7.97h.
Estimated receipts for Monday: Wheat.
2SS cars; corn. 265: oats, 225; hogs. p eco
head.