The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-02-25
WHEAT PRICES UP AGAIN
ARMOUR WAS A SELLER ON THE
ADvANCE-HE BOUGHT LATER.
Large Decrease i'm the Worlds Avail
able supply Apparent Cause for
Advance-POrk Advances.

CHICAGO. Feb. IA large decrease in the
worlds visible supply OF wheat caused an ad-
vance to-day Of 2i=c in the price Of the May
delivery. Strength ia English markets aided in
the upward tendency. The July option closed
at n net gain OF 27.c Compared with last nights
figures May finished 1lzc up. oats 1lsc and
provisions 12Ikc to 57lsc.
The wheat market opened strong. Higher
prices Liverpool. I'm the face OF the severe
break here yesterday We're taken as sufficient in
ducemcnt to buy. Initial quotations on May
were 1al%c higher at s1.O5 to s1e57s. July
up &c to 1c at 93ssc to 9r4c.
The advance brought liberal realizing sales.
Armour was reported to be selling freely. For
a time general liquidation ensued. resulting in
May declining to s.Oiis and July to 931zc
On the break Armour changed tactics and be-
came an active buyer giving especial attention
70 the July delivery. Prices started upward and
soon recovered all the early loss.
WORLDS STOCKS BULLIsH.
Bradstreet's report Of the worlds wheat stocks
was bullish factor showing that for the week
there was a decrease OF 3.s44.O0O bu. compared
with an increase OF 1.326.oCC bu the corresponding
week last year. The strong cash situation was
an additional bull inference
During the final hour Of trading there
actiNe demand from all sources. Offerings
hsht and In consequence the market became
ceedingly strong. May advanced to s10SSs.
up 2Nc to 9eL.c The market closed firm at ST. OsI5
for May and es%c for July.
IA 100 hu Primary receipts were SIS. 800 bu.
against $500 bu a year ago. Minneapolis. Du-
compared with 299 last week and 2i5 cars
4 year ago.
BULL INTERESTS BUY CORN
The feature in trading in corn was heavy
purchases by prominent bull interests. There
was considerable corn for sale early in the day
b. izgfO hon hut N
taken. The selling mostly by small holders
prominent provision house was an active buyer
late In the session. The comparative hrmness
In foreign markets had strengthening influence
on prices here. A report from Nebraska claim
ing that the movement of from that State
The demand was of the best possible character
late in the day and closing prices were prac-
&c 70 &c higher at sec to 5sHc. After declining
to 551sc. the price gradually advanced TO 57asc.
5iSSc and 553sc, closing 1hG1Ac higher at 555sc
Local receipts were 4S9 cars. six of contract
OATS HIGHER.
Oats also sold higher. in sympathy with wheat
The pit crowd inclined to favor the buying
side. and the big commission house which usually
acts for Patten also bought literally. The buy
ing of this one house had sufficient influence on
close was at the best prices OF the day. May
66psned &c to &c higher at t5se to 4Sc. sold
sc higher at 4l%c. Local receipts were 266 cars
PORK MAKES GOOD GAINS.
Buying for investment account was the feature
In trading in provisions. May pork received the
most attention and the advance in the price of
that commodity was 571sc There was scattered
selling early in the day on the break in grain
prices Later, however, offerings became light
ana the market readily responded to an improved
commission house demand. After selling between
si9W and sl62, May pork closed at the top.
May lard showed final gain of 1212c to 15c al
sSqS0Z. while ribs were up 30c to 32Iac at
| S7S7IaQ790. '1 -
estimated receipts tomorrow: Wheat 20 cars:
corn 10 cars; oats. 80 cars; hogs. $1,000 head
Leading futures ranged as foIIoxvs.