The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1885-04-15
SPECULATION " Chicago GRAIN.
On OF the Most Exciting Scenes Ever Wit
messed on the Floor OF the Exchange
The War News Leads Prices Up.
Special 10 the sentinel.

cpeCt1 70 the beutlnei.
CHICAGO. April 1.-THE past 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 on
heavy stocks, had become bullish on low prices.
They all wanted 10 buy. and for once they all
were right. The weeks decrease In the visible
supply, although but little over one-half million
bushels. was considered encouraging by holders.
Reports OF a bsdly damaged winter wheat crop
and largely decreased aeresge Of spring sown
grain came in ss steadily SIS before. but what was
more TO the purpose operators began 10 believe
them, Hence there was healthy running DP all
around an numerous outside orders were at
tIsoted in. The trading OF the early days, how
ever, although active vas very tame, as compared
with the excitement which developed when ca.
bles announced q commencement OF hostilities
by the Russians. ana that war was inevitable.
Nev6T II the history OF the board has the foor Of
t..e xehange presented scene Of wilder excite
nent Operators tum6ed over IN their mad rush
10 buy everything in sight
The surging mass OF sEelte-ing humanity kept
up such yelling and pushing and pEllfng that II
seemed Eext % - Fs-slole 10 do anything. Val
ues went up like rocket registering an advance
of &c in as many minutes. Country traders caught
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
feTed badly. Kent, who has been loading up for
the past three weeks, stood about scheerfully
It's near the TOD. Cnly once before was anything
epproecbive such n tGrEoil Witnessed and that
directly after the formal 0sclzE5tion Of war
between France and Prussia.
What the near future Of the msrket win be il is
uteless 10 try to predict. IN the event OF a con-
tinued war abroad, the supplies in this country
which now look so large will doubles melt away
with great rapidity. and the limit 70 which prices
may rise can not be set. All sgree there is moth
ing in the new cIop on which TO base bear feel
ing. snd IL the surplus now on hand can be dis
posed Of there seems reason 10 believe that the
old scale, by which wheat at dollar was consid
cred par, may be restored Manifestly, short
sales dangerous. as ii is claimed by many con-
tervative men that quotations yet no higher
than is warranted by the home situation. Still,
10 give the names Of those who are heavily "ong,"
IL would be necessary TO publish almost the entire
membership OF the board, snd sudden peace news
may cause psnic among holders. In any case,
sharp and severe fluctuations can be counted on.
Although the movement was slower, the war fe-
struck the corn dealers with considerable
force. There were not short lines enough out
TO cause sny such mad scramble TO get ashore a.
was witnessed in the wheat pit, but the market
in IL in more healthy condition than that OF
wheat There has, too been decided increase in
the amount OF business transacted In II during the
past few days and the statistical position IS
tsinly strong. Lester has been heavy buyer.
Provisions followed grain in the upward march.
notwithstanding the liberal sales OF Armour and
crher packers, who evidently were not prepared
for an advance Just yet. shorts were the prin-
eipsl buyers. Toe cash demand for product is
picking up fast. now that Lentis over but receipts
OF Logs continue large.