The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-10-01
All the Available supply of September
Said to he i'm the Hands Of One
or Two Traders.
MARGINAL GAIN OF z IL CENTS
FLUCTUATIONS VERY ERRATIC AND
COVER A WIDE RANGE.
RumOrs of InjunctiOns Not Bugaboo
to Shorts, Who Made q Grand Rush
to Cover-Other Grains Quiet.

CHICAGO, Sept. 30.-September wheat
to-day sold at the highest price recorded on
the Board of Trade since the famous Letter
deal in 9S, the price reaching CSC, and but
for the leniency of the longs the price might
have been advanced indefinitely as all the
available supply was practically in the
hands of one or two traders. The close on
September was at gain of nc, while
December closed bQAc lower. December
corn closed 1saAc higher with oats down
MQAc. January provisions closed from 2lhc
to nc lower.
The all-absorbing feature to trading in
wheat to-day was the alleged corner in the
September delivery. Early in the\ session
there were sufficient shorts who had ne
elected covering their contracts to boost the
price from S7%c to soc, but at
this figure there was lull in
proceedings due to rumors of in
functions similar to the one secured in
the oat corner recently. AS the session ad
vanced and nothing of this nature mater
ialized, shorts decided further parleying was
useless, and there was a grand rush to
cover. The result was the price advanced
from 90c to CSC with scarcely a sale at in
termediate figures. AT CSC shorts were able
to secure all the necessary stuff to satisfy
their creditors, most of the offerings COM
ing from Armour & Co., who have been
the leaders in the bull movement The OPEN
ing was &c to &c higher at SS1sc. After sell
Ing up to soc there was a reaction to S77sc
Then on renewed covering the price ad-
vanced to 95c, and the close was at the top
notch, at gain of nc over yesterdays
close. Future deliveries were listless and
nm
changed at 6SAc, sold down to 6SAc, but
rallied slightly toward the close which was
sQAc lower at 6S1zQ6S5sc. Outside of the
September trading the feature was the buy
ing of May and selling of December.
Statistics were against the market, and as
result, there was weak undertone. Brad
streets reported an increase in the world s
visible of 100000 bushels, against an in
crease last year of 3,4l9.999 bushels. Clear
ances of wheat and -four were equal to 4O6,-
bushels, against 1876 bushels a year ago.
Minneapolis and Duluth reported receipts
of 1,070 cars, which, with local receipts of
Soi cars, made total receipts for the three
points OF lay cars, against Lac cars last
week and 1883 cars year ago.
Corn was traded in but moderately, but
there was a strong feeling prevalent
bles and reports of damage to the crop in
Iowa from excessive moisture were the
main bull factors December opened I'M
changed to &c higher at 455s6455s, and on
selling by commission houses there was a
reaction to 45ssc. but prices soon advanced
| again, with the top price at acc. The close
was b9Ac higher at 45A@45Sc. Local re-
ceipts were $40 cars, with ninety-seven cars
| contract grade
Oats were dull, with prices about steady.
The feature was the liberal receipts with
| poor grading. The weather was unfavor-
| able for the movement, which was a rally
ing factor. The close was slightly lower
than yesterdays final figures. December
opened unchanged at 3O7sc, sold down to
Sokc, but rallied to 3ONQ3lc.. The close was
1sQAc lower at 9O5s@3024c. Local receipts
| were 23O cars. The feature of the private
| trade was the buying of nearby products
| and the selling of futures.
| The opening was easier, with consider
| able January pork for sale. Outsiders were
| the best buyers, with commission houses
| sellers. January pork closed TIC lower at
| $l510, January lard was SC lower at So ga
| and ribs 212c lower at sS.05.
/ Estimated receipts for to-morrow-Wheat.
| 100 cars; corn, 80 cars; oats, 100 cars; hogs.
| $4,000 head.