Savannah morning news. [volume] (Savannah) 1868-1887, 1884-04-26
DAY ON CHANGE
JUNE WHEAT TAKES A JUMP OF
o CENTS IN NEW YORK.

The Bears in Bad Plight Generally
Wild FluctuatiOn Also the Rule in
all Commodities at Chicago-Home
and Foreign Buyers Rapidly Increas-
ing in Number.
tuated wildly to-day, but were strong
throughout. The bulls led the way dur
ing the greater portion of the session.
Trading was on a very heavy scale, but the
bears showed more trepidation than has been
their won't, and did not throw any big blocks
on the market. On the contrary. the firm
tone caused great many to cover. The re-
eeipts continue very small, seven cars only
being inspected into store, while the ship
ments continue free. over 800. 900 bushels being
inspected out of store. June wheat opened
anywhere from 80 to 9315c., prices varying in
different portions of the crowd. and gradually
rose to $50, then settled back to 9S1sc.; rose
again to 93S4, and closed on Change az about
93lS(G995k e. April closed at 81 May at 9l1S,
and July at 81 Sc. On the call the sales ran
up to 2,260,00O bushels, May advancing Sc,
and June 4 C.. and July declining 14c.
Corn followed the lead of wheat, but in
more restricted way. The market opened
stronger and eased eff irregularly, but soon
became stronger, advancing about SC, then
falling of 7sc. and finally closing fG1Ic. over
yesterday. May closed at 53l &C., IEine at j53s
and July at $3.50. On the call the sales were
$4,000 bushels, May and July declining &c.
Oats were active and drmer May closed
at 331sG3314c., June at $3.50, and July at
$3.50. On the call the sales were 2O5,000
bushels, prices ruling &c. higher.
In pork the trading was active at irregular
prices. The market opened stronger and VI
to l2l@ cents higher, receded 10 cents. rallied
25 to 30 cents, receded 10 to 20 cents and closed
steady. May. closed at $l7 0215Gl7 O5; June,
at $l1 2O0l7 22]2 and July at Sl7 3212(@lI 35.
On the call the sales were 800 barrels, June
and July declining % cents.
Lard ruled stronger. May closed at s So
cents; June, at 62l3 cents; and July, at 72l2
cents. On the call the sales were 80 tierces,
July advancing 215 cents.
WHEAT Up SIX CENTS.
NEW YORK, April 25.-This has been a field
day on the Produce Exchange, where the
dealings were on an unusually large scale and
attended at intervals with great excitement.
A special feature was the advance in June
wheat of &c. for the day, the price having been
UP to 81 1898. The offerings of June wheat
have been very light of late, and as there was
a large outstanding short interest. it only
needed something to cause a sharp upward
turn. Advices from England to-day reported
cold and unfavOrable weather for the crops
there, and accompanying the same there
was material increase in the for
eign orders for wheat. The bulls took
advantage of these conditions to squeeze the
bears and experienced little difficulty in fore
ing up the price. The general market SYM
pathiZed with the rise in June wheat to a
the advance. The squeeze resulted in one
failure, that of w. 5. Phillips, a small dealer.
At the close Of the day on the Produce Ex-
change some half a dozen firms were reported
as having failed to put up margins, but for the
most part they were among the weaker
houses in the trade. At 4;l0 O'Clock, after the
Exchange was closed, notice was received
from William 5. Phillips " Co., grain and
flour merchants, OF No. 10 South street. that
they were unable to meet their engagements
None of the members of the firm could be
found. A. II. Laimbeer, special partner, said
that he could make no statement. He had
$4,000 in the firm, and thought that things
looked rather squally. Phillips & CO.. have
always stood well in the trade and, until re-
Gently, were very extensive dealers. Butt
man, ThOmpkins II Co., of Stone street, stated
that the differences for which they were liable
were small and they would be paid in full
Among the other small operators who are re-
ported to having failed are F. w. Martin, J.
NJ. Fuller and William Druyff. Their differ
ences, however, are probably Insignificant
The advance in prices was the largest in a
single d9V for