New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-10-28

night on the curb 95Ss the figure. Mathews did
not get his line covered say some and lost his head His
shortage too big for of his He prob
ably dropped q quarter Of his pile But this
was not the popular explanation Mathews,
1t Is thought, was likely enough TO his 100000
bushe shortage 1t was other fellow" the crowd
believes who squeezed Another story says that tho
purchases OF Poole, Kent Co. and Walker Co. were for
the Kents that Sid and A. E. Kent have covered the
100000 bushels of short wheat which "a figured they
hadout and have Ong" Still another theory credits
the war with the sensational rally Of the wheat
market this afternoon.
An explanation which involves all these theories In
very modified form would probably be nearly cor
rect than any one alone. good many rich men have
certainly bought wheat. They have made their pur
chases and do not particularly whether wheat goes
down q little, but do firmly believe that in course
Of time, and before their contracts mature, wheat
will advance a good deal. The Kents are very likely
long but no sane commission believes the story
which was flying about tonight, that the Kents had
bought 900 bushels OF wheat within the last week.
and long" now for half this amount There have
been some very large lines Of short" wheat Single OPP
orators have sold and rested upon 100000 bushels
This day Of panic for these shorts" Very little
purchases OF long wheat would have started the thing for
wheat was alarmingy Oversod 1t happened that Poole,
Kent Co. and Walker had large buying orders to fill.
This settled the thing There a rush to
cover by mob of panic-sicken shorts" The advance
was so sharpover centsthat lots Of short wheat had
to be covered without orders Margins exhausted;
IL was dangerous to wait Between stop orders and
purchases by commission to themselves from
osS and purchases by bulls" and the wild buying Of
the shorts" there was from noon until the close most
excited state Of affairs about the wheat pit
The advance has been too rapid to last.
There may be no decline Monday although
there Is likely to be- This advance was solely because
OF articia influences. There is nothing in the supply
and demand situation 10 cause hasty movement.
There were wheat charters tonight The shipments to-
dry were less than the receipts but Odays very
tiona fluctuations pretty certain to strengthen per-
manently the feeling of wheat There are good many
who feel that last Saturdays prices the lowest the
Will be maintained longer than day Friday night
the signs pointed toward advance to-day tonight
they point toward decline Monday. November wheat
closed at 49, December at 95Ss
Of the bullishness" about the wheat pit The de-
mand from shippers however better than 10 has been
for some days The advance In like that in
wheat all secured within very few minutes An Incl
dent OF the excitement the purchase of 100000 bush
els by John b. Lyon and s sale by him at the very next
moment TO W. b. Ream Mt 47as. II illustrated the ex
mind OF the shorts Ream Is believed to have covered,
besides big line OF short wheat good deal OF short"
corn too October closed at 463i November at 473,
May NJ 1874 Although the temper in the crowd
excited there not nearly the trading done IN its pit
that was transacted in wheat.
PROVISIONS were Affected just as corn was, by the eX-
ctemcnt IN the wheat pit Pork advanced 10 cents per
hundred. The advance made too. I'm the face of
decline Of live hogs mt the yards of l06 10 cents There
was nothing interesting in the situation October pork
closed nj $40 3O November at $40 32l9; January at
January - 572 October lard at - 20; November at
- 22l2 oats were p cent higher