People's Pilot, Volume 4, Number 51, Rensselaer, Jasper County, 13 June 1895 — RAIN BREAKS WHEAT. [ARTICLE]

RAIN BREAKS WHEAT.

BEARS HAVE A DAY LIKE OLD TIMES AT CHICAGO. Wheat Closes 2 Cents Off—Corn and Provisions Both Sell Lower —Live Stock at Chicago—The General Market Report. Chicago, June 12. —Wheat broke about 1-1/2c during the morning from the closing figure yesterday. The close yesterday was nearly 1-1/2c off from the best point of the day. With this reaction of nearly 3c from the top on the bull market which followed the Washington crop figures, the selling forces appeared to be exhausted and there were signs of a rally. July wheat opened 79%c to 79%c, sold 79%c and up, with good support to 80%c and then off to 79c, with rally before midday to 79%@79%c. Of course the rains in Illinois and portions of Indiana were the chief bear influence. Bearish feeling was helped for the time by the very light export clearances, the lightest of the year; the primary receipts of 278,000 far in excess of shipments; the easier Liverpool market. On the other hand northwest cars were light at 161, compared with 226 last year. Late private and public cables gave Paris flour advanced, Berlin wheat 1% to 2% marks up. The damage to California wheat from rust was repeated. Buffalo reported 110,000 bu wheat sold to be shipped back to Cleveland. The Ohio town quoted 87c bid for cash wheat. Cincinnati a little later sent messages reporting 90c bid there for cash wheat. Duluth wired sales of 65,000 bu wheat for export and 60,000 to winter wheat millers. After midday the selling pressure returned, and %c additional break followed. July sold off to 78%c and September to 79 %c, 2c under last night. There was raiding and selling of wheat the last half hour, and prices broke easily. July sold off to 78%c and closed 78%@78%c, exactly 2c lower. September sold at 79c and closed 79%@79%c. Sales were reported of 55,000 cash wheat mostly at July price. New York reported no export sales. It was conceded by all that the rains have done and will do corn more good than anything else. Yet while wheat broke 2c or more the July corn showed less than 1c decline and acted quite Stubborn on the break. July corn sold %c lower at the opening at 50%c, touched 50%c, got quick rally to 51%c and later sold off to 50%c with ten buyers for every seller at the low point. September sold 52c to 51%c to 52%@52%c and off to 51 %c. Local receipts were light at 134 cars. Estimated receipts for to-morrow 170. Liverpool was lower. Corn touched 50%@50%c and closed at 50%c, only %c lower. September closed at 51Zc. Corn charters were reported at 150,000 bu. The run of hogs continues to surprise the trade. There appears to be no end of hogs. Pork sold nearly 20c lower at 312.65 and closed 12%c off tember. Lard and ribs lost but 5c at close. Quotations were: Articles— High. Low. Close. i Wheat—No. 2. June 12. June 11 ; June $ .79% $ .77% $ -77% $ .79% | Julyßo% .78% .78% .80% | Sept 81 .79 .79% .81% | Corn—No. 2. Juneso .50% July .51% .50% .50% .51% Septs2% .51% .51% .52% May 43 .42% .42% .43% Oats—No. 2 June .29% .29% .29% .30% July3o .29% .29% .30% Sept3o% .29% .29% .30% May 33% .32% .33 .33% Pork— Junel2.3o 12.45 July 12.50 12.35 12.40 12.55 Sept 12.77% 12.65 12.70 12.82% Lard — June 6.47% 6.52% July 6.57% 6.55 6.57% 6.62% Sept 6.80 6.77% 6.77% 6.82% Short ribs— June 6.17% 6.22% July 6.30 6.27% 6.27% 6.32% Sept 6.50 6.45 6.47% 6.52% Chicago Produce Market. The following quotations are for large lots only; small quantities are usually sold at advanced prices: Vegetables—Asparagus, home-grown, 50@60c per 1-3 bu box; beets, 60@75c per doz; cucumbers, $1.75 per crate; green onions, 20@25c per case; green peas, 50 ©6oc per bu; lettuce, home grown, 50© 60c per tub of 4 doz; new cabbage, $2.75© 3 per crate; onions, Michjgans, $1©1.75 per brl; pie plant, 25c per 50 lbs; radishes, 25@75c per bu; string beans, green. [email protected] per bu box; wax, [email protected]; turnips, rutabagas, 25@30c per bu. Cheese—Young Alpericas, choice, 7@ 8c; twins, 6%@6%c; Cheddars, 6%@7%c; brick, B@B%c; Llmburger. 6%@7c; Swiss, s@7c. Butter—Creameries, extra, 17%c per lb; first, 16%c; second, 13@14%c; third, 10@12c; dairies, extra, 16c; first, 13@14c; second, ll@12c; imitation creameries, extra, 14@15c,| ladles, extra, ll@12c; first, B@9c; second, 7©7%c; packing stock, fresh, 7@Bc; greaSe, 3@sc. Live Poultry—Turkeys, choice 8c per lb; fair to good, ducks, fair to choice, $2.50@3 per doz; geese, s3@4 per doz. , . iff < • Apples—s2.so@4>so per,, brl. Potatoes—Hebrops, , 40@43c , per bu; Burbanks, Michigans, 36@45c; mixed, 35@40c. Eggs—Salable 'at 11c per doi when cases are returned; ll%c : cases Included.

Wall Street. New York, June 12.—The stock market opened strong and active. The trend of prices continued upward for a brief time after 10:15, Susquehanna and Western preferred gaining 1% and Panhandle preferred % per cent. Reading sales then caused a general recession. In the bond speculation Cordage firsts were lit demand and advanced 3% per cent to 40, The stock speculation at 11 o’clock conijuued heavy. The market continued to/ttyg during the half hour following li‘, thie’losses, however, being merely fractional. In the next half hour speculation was steadier in tone and prices advanced per cent, the latter in-Lake Shore, and 1 per cent In Suggr Pacific. The market at 12 o’clock was strong, and the upward movement still in progress. Money on call nominally 1 per cent, prime mercantile paper, 2’/ 2 @3}4 per cent; sterling exchange firm, with act ual business in bankers’ bills at 489%© 489% for demand and 488%@488% for sixty days; posted rates, 489@490; com mercial bill*, 487%<48714. Silver certifi

Fort Wayne, Ind., June 12.—Geneva, a thriving little town thirty-eight miles south of this city, in the center of the gas belt, was destroyed by fire last night. Particulars are not at hand, owing to the destruction of the telex’ - 'h office, but the latest report is that t mrock hotel is the only building s g.