The Indianapolis journal., 1902-09-21
ALL CEREALS STRONGER
WHEAT TAKES THE LEAD ON MAN
IpULATION AND RAINS.
September Gains 1 1-4c-0ther Grains
Make Good Advances-PrOvfsfOn
Also Strong and Higher.

CHICAGO, Sept. 20. = Manipulation.
abetted by rains, worked for advances In
grains to-day. Regardless of injunctions
against corners and fictitious prices, the
shorts in September wheat became fright
ened and put the price up on themselves.
Other commodities felt the influence OF a
heavy wheat demand and in sympathy ad-
vanced. Higher prices were attractive to
some holders and there were recessions
from top figures, but in the end the close
was strong, with September wheat 1Ac
higher, December 1zc up, September corn
&c up, December &c higher, September
oats sc higher and December unchanged.
Provisions closed 21c to 40c higher.
In contrast with recent business in wheat
the opening showed strength about which
there was no doubt. Whereas advances of
late have been halting, to-day the senti-
ment was strongly bullish from the start.
The cash market in the Northwest was ad-
vancing, with Duluth offering 12c bu to
cancel shipments. Elevator stocks every
where were small, there was premium
for cash grain and an excellent export
business was developing. Added to this
were the rains Northwest and predictions
of more to follow to retard the spring
movement that has only just got under
way. Offerings were scarce and small pur-
chases had a telling effect on prices. The
amount of breadstuffs on passage Monday
was expected to be decreased, although
shipments were fairly bearish and cables
were easy until local bullish news improved
them. Shorts were frightened into cover
ing September heavily in the opening haif
hour. Six commission houses jointly took
in 100000 bu. New York was taking Sep
tember freely. Grading was poor. BUSINESS
was broad and active all the session, but
some stuff came out at top prices. Even
the leading elevator, which is conceded the
ruling hand in September affairs, let go
ket run away. September opened un--
changed to &c UP, at 1880 to 74Ac,. jumped
to 7oltc, slipped back to 75c and closed
trade trades was ' largeIy sef sympathetic m the price
opening 1sc to Ac up, at 69Ac to 69Ssc, ad-
vancing to 69a.c and closing firm, 1ac high
er. at 6sssc.. Local receipts, were 200 cars
only five Of contract grade. Minneapolis
and Duluth reported 925 cars. total of
LIE cars, against 962 cars last week and
1,422 last year. seaboard clearances in
wheat and -four equaled 474,0O0 bu. Pri-
mary receipts were 1,3S7,0O0 bu, compared
with 1,116,00o bu last year.
Corn trade was active only In a measure.
Rains which would retard movement acted
bullishly on the market, as did the bull
activity in wheat There was fair covering
at times in spite of big receipts-146 cars
the early upturn there was some realizing,
which took off much of the gains. The
sentiment was quietly bulish. October
made the best gain, closing 1hc higher at
54Ac. September was Ac up at 59Ac. After
selling at $3.50. December closed firm. %c
up, at 44Bc
Unfavorable weather, small receipts and
poor grading, together with fair demand
from commission houses kept oats some
what firmer to-day. Offerings in Septem-
ber were small and fair advances resulted.
After some buying in December and May
by commission houses. the trade turned
dull and prices held only slightly better.
September closed asc up at 32Ac; December
was unchanged at 3Olzc. Receipts were $50
cars, IA of contract grade.
Provisions were quiet, but showed
marked strength. Small receipts of hogs
and steady prices the incentives.
Floor traders and brokers bought fairly at
times, and covering in October products
brought sharp rally from the slump early
In the week. October pork closed 40c high
er at $16665. January SC up at $1505; Octo-
Der lard 2oc higher at $s.s5, January 211c
advanced at $3.50; October ribs 221hc up at
$10.371z and January sc higher at s7.95.
Estimated receipts for Monday: Wheat
210 cars; corn, $40 cars; oats, 100 cars; hogs,
$4,000 head