The Indianapolis sentinel. [volume] (Indianapolis, Ind.) 1880-1904, 1885-04-13
SPECULATION IN CHICAGO GRAIN.
On OF the Most Exciting scenes Ever Wit
messed the Floor of the Fxcbange-
The War News Leads Prices Up.
Special to the sentinei

Spcclel 70 the otuhlucts
CHICAGO. April 1.-THE mast week on Change
has been full OF surprises. The sentiment of the
wheat sit had gradually changed over Sun
day. and the crowd. from being violent bears OF
heavy stocks, had become bullish on low prices.
They all wanted 10 buy, and for once they all
were right The weeks decrease in hevisible
supply, although but little over one-half million
bushels, was considered encouraging by holders.
Reports of badly damaged winter wheat crop
and largely decreased acreage OF spring s0Wn
grsiD came in IS steadily as before. but what was
more 10 the purpose operators began TO believe
them. Hence there was a healthy running up all
around, an numerous outside orders were at
tiscted in. The trading OF the early days, how
ever although active was very tame. as compact
with the excitement which developed when
bles announced commencement of hostilities
by the Russians, ana that war was inevitable.
Never in the history OF the board mas the MOOR OF
the Exchange presented a scene OF wilder excite
meut Operators tumbled over in their mad rush
10 buy everything In sight.
The surgiDg mass OF sweltering humanity kept
Up such yelling end pushing and pulling that II
seemed next 70 Impossible TO do anything. Val
Ties went up like rocket. registering an advance
Of &c in as many minutes. Country traders ght
the fever and rushed along their orders. Even the
coolest bears like Eldredge, Jones aud Hobbs,
were thrown into panic, and the generalization
of the little ,'shorts' were beyond description.
Margins were freely called and bank accounts suf-
fered badly Kent, who has been loading up for
the psst three weeks stood ABOUT scheerfully
watching he unexpected rise aud taking his prof
lis near the ton. Only once before was anything
sppIoachive such turmoil witnessed and that
vas directly after the formal declaration Of war
between France and Prussia.
What the near future of the market will be IL is
useless to try to predict In the event OF a con-
unued. war abroad the supplies in this country
which Low look so large will doubles melt away
with great rapidly, and the limit to which prices
may rise can not be set. All agree there Is moth
ing IN the new cop on which to base a bear feel
ing. end II the surplus now on hand can be- di
posed.of, there seems reason to believe that the
cred par may be restored. Manifesty, short
sales are dangerous as il Is claimed by many con
tervative men that quotations yet no higher
than is warranted by the home situation. Still,
TO give the names OF those who are heavily "lOng,
it would be necefgRIy to publish almost the entire
membership OF the board, and sudden peace news
may cause panic among HOLDER. In any case,
Lharp and severe fluctuations can be counted on.
Although the movement was slower, the war fe-
yer struck the corn dealers with considerable
force. There were not short lines enough out
10 cause any such mad scramble TO get ashore
was witnessed In the wheat pitt but the market
was very firm. Corn Is more staple and the trade
in IL in more healthy condition than that OF
the amount OF business transacted In IL during the
past few days and the statistical position Is GER
teinly strong. Lester has been heavy buyer.
Provisions followed grain in the upward march.
notN Tristan ding the liberal sales oil Armour and
orher packers, who evidently were not prepared
for an advance Just yet. "Shorts" were the priu-
cipel buyers Toe cash demand for product is
picking I'D fast now that Lent Is over ut receipts
OF hogs continue large.