davidaulloa/AmericanStories huggingface dataset:
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-12
WHEAT MAKES SMALLGAIN
EARLY MARKET WEAK, But BUYING
LATE PUT PRICES UP.
Larger Shipments than Expected and
More Peaceful War News Bear
Factors-Other Markets.

CHICAGO. Jan. I.-Argentna weather reports
were trumps to-day in wheat. The market
closed strong. with May up nc to sc May corn
is &c TO &c higher. and oats are unchanged.
Provisions unchanged to 7izc lower
The wheat market was nervous affair owing
to the uncertainty surrounding the transactions
OF the leading bull interest. Opening prices were
steady on the comparatively firm attitude Of the
early Liverpool market. and May was uhchAhseu
The market eased OF soon after the opening on
selling due TO larger worlds shipments than
more peacefui news IRON from the far East At Sss.c
there was considerable buying by the big long
The local crowd followed this lead, and the mar
ket became hrner. May advancing TO S6isc.
The big operator then changed tactics and sold
freely. and with only scant support Nav reacted
to S5ikc, The decline was emphasized by the
Toward the close the market again frmed up on
advices from Argentina. reporting unfavorable
harvesting weather.
HEAVY BUYING LATE.
The same interest that had been prominent on
both the buying and selling side earlier in the
day took a pronounced stand during the last few
minutes OF trading and bought heavily The
close was strong with May at the top price,
s6lzGs6Ssc, gain OF &c to Sc
Clearances OF wheat and flour were equal 70
4s5.0M bu. Primary receipts were 1.a54, 100 bu.
passage De- Iecreassd eos Sg so While 5he supply
increased 1.9s5.0o0 bu. Minneapolis Duluth and
I3l cars last week and 800 cars year ago.
IMPROVED DEMAND FOR CORN.
An improved demand for cash corn. well as
a better export business. caused firmness in the
corn pit in spite of bearish influences The prin-
cipai bear factors were the large receipts easier
cables and less prospects of Commission
houses were the best buyers. and offerings came
largely from local longs.
The late strength wheat helped 10 create a
strong tone at the close. May was a shade "a
1sN<c lower at the start. opening 46s4 a S6ss
and after ranging between $3.50 and 47Isc closed
at the top. Local receipts were $50 cars. none
of contract grade.
EASIER FEELING IN OATS.
There was little easier feeling in oats early
in the day moderate selling by commission
houses. influenced by the action of wheat The
market steadied later on buying by local traders
and May closed unchanged. at 393sc, after open
ing shade lower, at 1914 d39%sc. and selling be
tween S9Ac and SSSsq3si2c. Local receipts were
$50
PROVISIONS WEAKER.
Provisions were weak early on EXCEPTIONAL,
heavy receipts Of hogs and a decline of 10c t.
15c in prices at the yards. Commission houses
were good buyers however. and with only mod
crate offerings most Of the loss was reganed
| The close was steady. with May pork 1Oc TO 1873
| lower, at Sl2.72k May lard was unchanged, a
! $3.50. and ribs of 21sc. 1T So 50.
Estimated receipts tomorrow: Wheat 20 cars
| corn, $40 cars: oats. us cars; hogs, 1900.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-12
Uith the Grain Brokers;
Present Market Conditions

counts TO a large extent the effect OF war in
Asia although II war should involve Europe it
would be a different matter. The export de-
mand for wheat continues moderate and clear
ances are still well below last years figures The
smaller than a year ago. but stocks the world
over are 5000 900 bu larger. Receipts both North
larger than year ago. We are still told as we
have been told for weeks past, that they will
drop of sharply.
There is the conflict OF opinion as to the
domestic wheat situation there has been all the
season. The biggest users of wheat in the conn
try, the Minneapolis millers. continue TO believe
in insufficient supplies. The wheat handlers of
the Northwest generally. the elevator operators
and the Duluth shippers. rule agree with the
milIers assume a short crop and ultimately
helps at Chicago the MINNEAPOLIS Nav is bighas
than the Chicago. Although there have been
heavy contribution OF Southwestern receipts
Minneapolis has still almost 1900 90 bu less tbsn
a year ago. With all the incentive OF relatively
high prices Chicago has 100000 bu less and the
aggregate visible is 100000 bu less than last
year.
2
Everyone feels the market situation is stiu oh
secured by the extraordinary factors the very,
large May holding by Armour and by the possi-
bility OF a great foreign war. There is no argu-
ing as to these special influences. They have to
be taken as they develop. There are few peo-
normal features. their theories as To supplies
and demand But most grain traders have been
so disconnected by the extraordinary features
they are merely moving along from moment 10
moment as the situation develops.
? =
There is more general bullish seatiment in
corn than in wheat and the light movement and
poor quality OF the receipts have been strength
eniag factors. The cold weather throughout the
country has naturally increased the feeding de-
mand and the South has been buying cash corn
from the Northern States. a demand which has
come considerably earlier than expected in vievy
OF the unusually large crops which Were raised
in the South, the only section OF the country in
fact. where the yield was above the ordinary
There has been some increase in country selling
the last week. still largely from Illinois how
ever. but there has also been some Improvement
I'm the local shipping demand. Some business has
been done for export by all rail and the falling
of in Argentine shipments has. apparently.
turned European buyers 90 this market Specu-
latively there some big holdings in the mar
ket. which are strongly supported any reac-
ton. but there has been advance or nearly
&c from the low point OF November, which may
discount good deal that Is bullish in the situa-
tion-
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-12

The wheat market at Chicago was rather dull
yesterday and moved within limits. but
prices held pretty steady and the close was not
far away from last weeks final prices. Armours
operations were the principal factor in the Chi
cago market. The strongest and most active
market Of the day ST. Louis. This was
caused by the gloomy crop outlook in the South
west The St Louis market for the May de-
livery sc above Saturdays close at one
time and the high price for the May in Chicago
was only L4c over Saturdays closing figure From
all reports Armour bought good deal Of wheat
he was buying in the St. Louis market. too
The speculative corn situation looks more bull
ish. The advices yesterday to the effect
that the movement continues very light. This
condition. together with the increasing demand.
governed largely by the movement OF wheat, but
If the wheat market Is out from under the war
act more independently.
St Louis receipts OF wheat showed increase
yesterday of $1,000 bu over the receipts the
responding day last week and 10000 bu over the
corresponding day year ago. The Kansas City
than the receipts tho same cay a week ago.
7
The visible statement was about as bearish as
il was predicted it would be- The wheat in
crease is 1S95.O0O bu The prediction was that
the visible would show round 2.o00,0 600 bu
increase The visible very bearish,
showing 425 900 bu increase, against 5000 bu in
crease last week.
With war delayed even If the delay is only a
matter of a few weeks, wheat traders are dis
posed to sit down and calmly consider the ques-
ton whether or not a conflict between Russia
and Japan would in any way increase the de-
mand for breadstuffs from this country inter
fere with the supplies 10 the importing coun-
tries OF western Europe. a good many traders
would be disposed 10 answer these questions In
the negative, but when rumors OF war. OF actual
conflict. foating about IL Is "A hard matter TO
consider things calmly. and particularly hard for
the short who knows by experience or by inves-
tigation the effect some wars have had the
prices Of breadstuns
AS to the effect OF the market II Is
certain that the European markets which might
reasonably be expected 10 be more concerned
than those on this side have not advanced nearly
as much the last few weeks the American
| markets. Chicago prices at their hest last week
| were 13c higher than at the low point in
l November. Ii Is possible such advance dis
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-12
BROKERS VIEWS ON THE
WHEAT AND CORN MARKETS
Wheat Was Dull Yesterday, with Ar
mour's Operations the Important
Factor-Corn Is Stronger.
Meyer & Kiser.1

CHICAGO. Jan. n.-Wheat was a waiting mar
ket to-day, with the long interest the most iniu-
entail factor, being on both sides Of the market
and creating considerable confusion among local
traders. On the whole ii was dull, with a light
trade varied py brief periods of activity For
eign advices on the Eastern situation were re-
assuring. One dispatch from st. Petersburg via
Paris claims that a provisional settlement is
practically assured and no war likely until spring
at least. Receipts were liberal, and the total
was about double a year ago. All grain markets
the other size closed lower and consols higher.
The weather map shows light over the
winter wheat belt. excepting in the Southwest
whore dry conditions prevail St Louis had bull
ish advices from Oklahoma, reporting the crop
in poor condition and that market was relatively
strong during the morning. inducing some buying
here.
Corn. the whole, was firm, Influenced to
some extent by wheat. The trade not large
or of particular Importance. The cash situation
here and abroad is getting stronger. shippers re
port a better demand from the East this morn
ing for carlots and the United Kingdom was bid
ding for corn with some sales put through. The
Liverpool spot market closed 1c higher and our
house there says the demand is good and ship
ments too small TO allow any decline Weather
throughout the corn belt is too mild and will
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-12
effect both the condition of corn and the move

enect DOtn the cOnoluOn OF corn ana the HiONc-
IA r. Thompson & Col
NEW YORK, Jan. u--An oversod condition
again caused further covering to-day in the stock
market with the result that Improvement in
urices was pronounced in certain stocks. which
is in line with the prediction made by US on SAT-
urday We believe that with customary reactions
specialtieS The Goulds have taken Up their
stocks and We are OF opinion That the move
and missouri Pacific have not eliminated. We
recommend their purchase whenever weak TOT
turns We have reason 10 believe that CAM
paign may be taken up in the Rock Island issues
at any time. We are OF opinion that the pre-
ferred stock is a good purchase 1t pays per
cent and returns more than 6i2 per cent. on the
investment at the present selling price The
S SSRs 9o dividend We believe il would be we
to buy when weak for turns. The bonds OF the
company should also participate In any a, sdyancs.
Russias note that treaty rights OF all nations
would be respected IN Manchura shows con-
ciliatory spirit. and Jaian's announcement thas
she would not land troops IN Korea was along
the same lines. There were rumors OF CON-
promise between the two nations received oy
cotton houses from abroad We -, 1ee9 5 nod
crate pront-taking from tlrne 10 uiIs' IN Nlew
OF the Northern Securities case and the war
talk which might at any time cause a small
reaction on which good issues should be bought
Ia r. Thompson Col
CHICAGO Jan. 11.-There has not been much
TO the wheat market to-day except the big
scalping operations OF Armour. They sold wheat
openly rom h ee wheat on a great sesIe@froT
one 10 two millions. The May has kept between
Sic and S6ilc The news In regard 70 the
has been conflicting. but consols were up sharp
ly The Argentine news was unfaNorable, wealth.
sr had FOR threshing- There was large Increase
in the visible. The market was helped most By
the continued dry weather in the Southwest st.
Touts vas strong on this Gables lower.
buf not on as much the break here Saturday.
Seaboard reported fifteen loads. Some business
was done from here by way OF the gulf The
market closed strong az the top, with Armour
still buying
There has been firm but very slow corn
ket The futures have about held The cash
market has been Irregular the mixed steady and
the yellow lower. The pit has not been more
tben half full all DAY. There was some buying
earlv bv Bartlett Frazier. The selling has been
by professionals.
lPorterheld & Col
CHICAGO. Jan 1i.-There downward
tendency % wheat early. and most Of the day the
r,arket was soft. TIE general news favored the
bears The cables lower and the war news
portended peace. The market rallied near tho
close on Armour baying and reached tho highest
noint of the day. &c above Saturdays close
corn was steady. and although the trading was
light the sentiment was bullish. The close was
the best Of the day.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-12

The Iron and Machinery World says OF the
metal trade OF the week:
Whether Il be the business that has been pur-
poscly withheld until the opening of the new
year. whether II represents a fresh impulse
toward activity. the trading in iron and steel
this last week receives enccmiums OF praise from
many sellers. The year started out well and the
rejoicing Is experienced by a wide representa-
tion Of producers. The better trade consists
largely OF heavier specifications on old orders
but there is some new buying. Plates have been
among the more active products Thus there
or ten days about 10000 tons OF steel plates not
for immediate shipment. but on contracts that
well through the coming year. The plates
are bought, some OF them at least. on annual
contracts and are intended for ship construction
for boiler work and for general manufacture
Plow manufacturers have been among the most
active buyers OF material this week They have
specified more freely than in many months And
implement makers generally generous buyers
IL Is remarked that the smaller or moderately
sized makers of implements appear 10 be more
prominently In the market just now than do
tnoso OF the largest class.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-12
s. ]. FLETCHER PRESIDENT
MARION TRUST COMPANY
He Was Elected to Succeed Joseph It.
Elliott Yesterday-P. j. Kelsey
Elected First Vice
President.

stoughton j. Fletcher, president OF the Fletcher
National Bank. elected president of the
Marion Trust Company at the annual meeting
yesterday afternoon. to succeed Joseph T. FL
lott. who retires from the company 20 manage
his personal affairs. II Is understood that Mr..
Fletcher not elected 10 the presidency per-
rnanentiy, ard that he will be at the head OF
the institution only until a permanent president
may be named.
Preston T. Kelsey, who has been second vice
president of the company i've years, was elected
vice president. Ferdinand Winter was elected
second vice president 10 succeed Mr.. Kelsey. II.
& Truser was reelected secretary and treasurer.
To the directorate added the name OF Hugh
Dougherty. Of Button. who viii supply the va
cancy In the directorate resulting from Mr.. Ell
HOtt's retirement
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-12
EGG MARKET CONTINUES WEAK
Price of Fresh Product Reduced to %
Cents-WhOIesaIeT Trade.

The egg market ruled weaker yesterday. The
price of fresh eggs was reduced &c, TO Csc. This
condition tho first Of the week was predicted
Saturday by leading dealers. The market is
weak at Csc and will likely be lower in day
two. Poultry continues steady at the prices
which have PREVAILED here for two weeks since
the holidays.
The continued weakness OF the Boston and
New York markets Is partly the cause OF the
continued slump in I'm the local market.
The continued mild weather, which is increasing
the volume OF receipts. is the other factor oper-
ating for weakness. The dealers here will buy
only the supplies their Immediate demand re-
qures and they cannot make any money ship
ping eggs 20 Eastern markets when they pay %
cents dozen for them here The present condi-
ton OF the local egg market IS somewhat similar
90 the condition last year little later than this
time Prices literally went to pieces early in
February last year. They had been arthcially
high for some time preceding the first OF Feb
ruary. and when the market weakened prices
fairly tumbled.
IL Is hard TO foreteIl. OF course. what the mar
ket Will do. but the receipts OF fresh eggs now
aren't large that this need maze prices very
much lower And II the weather turns severely
cold receipts will become small again. and IL is
probable that the market Will be stronger.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-12

OF the dry goods market the past week the
Dry Goods Reporter says:
Another advance in the primary cotton market
covering number OF prominent tickets OF wide
sheetings has contributed the leading feature at
nrst hands since last review. Ordinarily the last
days OF the year devoted to the closing out
OF broken lines that may be on hand. but the
peculiar condition of the cotton market has
made old prices for many lines OF i'm
possible. Reports from the nrst hand market
show that the usual January Gullness has been
accentuated by extreme weather that has pre-
vailed throughout the East. Favorable spring
prospects have induced houses TO hasten the
preparation OF spring lines not already submitted
and a host OF road statesmen have again taken up
the spring campaign In wash goods depart
ments heavy shipments have been in progress
for two weeks. many houses having broken all
previous records I'm the early delivery OF wash
fabrics and other lines OF yard goods. The re-
order trade throughout the dry goods market has
been something Of a surprise in some quarters.
1T Is true that some OF this business has been
induced by special prices OF winter merchan-
disc. but any kind OF a demand at this stage OF
the season indicates that stocks I'm the hands OF
retail merchants generally well reduced.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-12
BROKERS VIEWS ON
THE STOCK MARKET.
General Sentiment in Securities More
HopcfuI-Gains During Early
season. by Professional Trading.
IA. W. Thomson.l

IA Wy thomson
NEW YORK. Jan 1.-THE sentiment abroad
was little more peaceful to-day on the war
outlook London was not a factor OF much con-
sequence and did not trade in more than 5000
shares. but sold on balance. The market here
opened strong and showed a tendency TO advance
The Hawley forces hid up their specialties and
advanced Alton. Chicago Terminal and Wiscon-
sin Central The Hartman following bid up
southern Railway and Union Pacific. both OF
hich advanced point. Baltimore & Ohio an
Pennsylvania advanced on short covering. The
Gould stocks advanced on buying by the Gould
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-12

Cash quotations were as follows Flour was
steady; Wheat-No. spring. 75qSoc; No. red.
45'1c. oats-No. 2, Ss%6S7Ac; No. white S7a
soc No rye. 53c. Barley-Good feeding 37G
No. ], &c; No. 1 Northwestern. s03 Prime
timothy seed. 1925. Mess pork. per bril- SIP 5O3
l.. 62h Lard. per 100 lbs S6.59lkG6 So. Short rib
sides 0oose), s6121aQ6.37Ik Short clear sides
Cboxed), s6.6219Q675. Whisky-Basis OF high
wines. s127
Recepts-Flour 81 500 brs; wheat SO 900 blu:
corn, 302. 600 bu; oats. 232 600 Blu; rye 1900 bu:
barley, 70, 500 bu. Shipments-Flour IL 600 brls.
wheat Is. 500 blu; corn. 81 900 bu oats l3s 200 bu
rye, 500 blu; barley, $500 bu.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-12
THE MONEY MARKET.
Rates on Loans and Exchnnge-CIear-
ings and Discounts.

INDIANAPOLIS.-Com paper, per
cent; time loans, 5Q5 per cent.
NEW YORK, Jan. 1L-Money call easy.
2IhH3la per cent: closing bid and offered at2z per
cent. Time loans. ~ per cent. for all da ties.
Prime mercantile paper, 5Q512 per cent. Sterling
exchange firm with actual business In bankers
bill at 81 So 1904 s. 20 for demand and at 81 81 goa
4S2 for sixty days; posted rates 81 S2lzQ4S3 and
s4S5i2Q4S6. Commercial bills, S4SlisqLSlA.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-12
Money Rates Abroad.

LoNDON.-Money. 2a3i5 per cent; discounts,
3isa5ss Consols, IS l-l6QSS 3-l6.
PARIS.-Three per cent. rentes. OF 55c for the
account. Exchange on London 25f lie for checks.
BERLIN.-Exchange on London 2Om 45s.pf for
checks Discount rates: Short bills, PA per cent
three months bills. 25s per cent.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-12
BUSINESS ON STOCK
EXCHANGE IS ACTIVE.
Thfrty-Five Shares Union Traction
and Fifty-Six Shares Indianapolis
Water Bonds Sold Yesterday.

Thirty-five shares of Union Traction common
stock were sold the Stock Exchange at 3O1k
yesterday. and fifty-six shares of Indianapolis
Water Company per cent bonds at 100 and in
terest. This is the largest one days business
done on the Stock Exchange for several weeks
Inc general tendency of the bidding continues
strong. Official quotations:
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-12
FIRST RAIN IN THREE
MONTHS ON KANSAS WHEAT.
VIII Change Crop Aspect I'm south-
west-Acrca-Se IL LarEe-LarEe
Yield Predicted.
ciai 10 the indianapolis Journal.

Special 10 the Indianapolis Journal.
KANSAS CITY. Mo. Jan. n.-Advices were
received here late this afternoon 20 the effect
that rain had begun 20 fall IN southern Kansas
and Oklahoma. This IL the first rain !n these
sections three months and grain Cener-
ally are OF opinion that IL has come IN time 10
save the wheat crop there. II Is even predicted
CONTINUED on PAGE IL col. "a
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-12
Treasury statement.

wASHINGTON.-Monda statement OF the
treasury balances In the general fund.- exclusive
OF the $4,000 000 gold reserve in the division OF
redemption. shows.
Available cash balance ......-....... SEA os5 $50
Gold libi4 500
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-12
Poultry and other Produce.
prices paid by shippers,

prices paid by shippers)
Poultry-Toung turkeys. 12Qlshc; hens Sc.
cocks. &c: young ducks. Sc: springs. sGsLc:
cheese-Wisconsin. lsc: New York fun cream,
Butter-Sc: choice. l29l3c: Eigin creamery
sc: state. &c.
EggS-Easy at &c.
wool-Local dealers paying for wagon lots:
Good medium merchandise unwashed lie:
coarse and braid i5c: heavy merino. i00isc:
haif-blood. i@Qiic; bury and cotted. i20l4c:
Western. 12c.
Feathsrs-Prime geese. soc per ID; prime duck.
Gsme-Rabbits. SOcgH per dozen. slaLD per
doz drawn
Beeswax-soc for yellow. &c for dark
HIDES AND TALLow.
ssreen-saIted Hfdes-No l. INC: No 2 SIC.
No / calf. Zoe. No. , calf. SC
Tallow-So. !. 3lsc No. ?. &c.
THE JOBBING TRADE.
The quotations given below are the selling
prices q the wholesale dealers)
Candies, Nuts, Figs.
Candies-Capital stick candy (brls &c per IN.
c<mmon mixed. Sc. gfocers' mixed. SIC: banner
twist stick. s.sgSe. Banner cream mixed. SC:
derby mixed. The
Nuts-soe; -shelled almonds l5c; Brazil nuts
1oc. iiberts. l2c. peanuts roasted. 79Sc: mixed
nuts. f3c.
Figs-New Smyrna. &c per ID.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-12
Markets for silver.

NEW YoRK.-Bar silver. 5s%c; Mexican dol
lars. 4iAsc.
LoNDoN-silver bars. 2s 15-lsd an ounce
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-12
Local Bank CIearings,

Mondays clearings. ST. 100. e6S21: corresponding
day last year. sll6i,2l5.ll Mondays balances.
s23s. 1850.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-12

Seed clover. prime s. 50as; English clover
ts9s5o alsike. s94i2. Timothy prime. 81. 1904
Fancy Kentucky bluegrass. 81 50Qi IS: extra
clean. 6007Oc. Orchari grass. S2Q2. Is: red top
socQsl75. English bluegrass. s.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-12
UNITED STATES BONDS
Chicago Stocks.

IBy a. W. Thomson's wire.l