New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-10-04
NETWORK BROKERS EXCITED AT LAST.

THE TRADING IN WHEAT EXCEEDS THE VISIBLE
sUPPLY-4O, 600, 900 BUSHELS DEALT IN
There wild scene of excitement in the wheat
pit OF the Produce Exchange yesterday that had hardly
any interruption from the opening of business to the
close. New-York at last had responded TO the bull
uproar in Chicago, and the predictions Of the WISE
acres TO the conservatism Of the local specula-
ton sadly disappointed. The wheat pit lies
to the left Of onlooker from the visitors gallery.
If no stands in the Of the gallery, just tho
dial that marks the varying movements In prices.
There were numerous visitors In that gallery before
the official opening yesterday but the throng below
them one that the Produce Exchange had not
before. There hum and stir, but the noise Was
silence compared to the din that began when the
official trading let loose hundreds vigorous
voices. Everybody wanted to buy and everybody
wanted to sell, and the uproar represented pande-
clonum. First prices several cents gher than
the previous nights close, and they kept climbing
for the next half hour The brokers were executing
orders apparently without limit, and contracts
made In different parts of the struggling, bowling
crowd at prices cent apart The fluctuations
erratc and did not stop at the ordinary fractions
The transactions in wheat options for the first
hour amounted to over 100000 bushels. The
trading for the day aggregated more than 40 900 900
bushels. This represented figure IL excess OF the
total visible supply of wheat. December options.
which were the favoritc, opened at 81 IA. against
81 IL on Monday night, rapidly 10 81 IS and
then reacted to 81 10 l-2. May options opened at
81 II l2, against 81 IA 81, and to I'll 20 l-o
falling TO 81 II and then rallying to 81 Is ID The
other months followed those leaders in the general
tendency OF fluctuations. The net gains
for the day ranged from 35-s to 4l-2
cents per bushel. The regular hour Of
closing did not check the ardor the speculation
Tncy throngcd the lobby OF the Exchange for some
time after the official close, and sales were made of
December from 81 ii to 81 1884 These transac-
index to the coming market the next day In many
themselves poweress TO stop the practice Of trading
after hours In times Of excitement.
The bulls" In the -four market have had a good
time in the last three days trading averaging 40 600
barrels a day an advancing market. Yesterday
prices jumped up 25d so cents per barrel The corn
speculation stimulated By the hurly.burly I'm
wheat, but the advances in prices not SO sem
sational
The houses prominent In the selling OF wheat Cd
tions were Ladenburg, Thalman & Co., SAWYER Wal
lace & Co., and David Bingham, who represent shin
ping Interests; Mclntire, waidwel e. Co.. a leading
commission house and G. X. Clark, IT, who operates
for western account. The buying was credited com.
monty 10 Jones, Kenneth IL Hopkins and the general
run OF spectators and small traders The foreign
clement picuOmidttt IN the seliag opcI atoms AID
whi!e has been liquldaing short
recent RISE has been conspicuous In renewed short
sales according 10 yesterday reports Although The
Gay was imp escdsnted for excitement and activity an
the Produce Exchange. there were no failures an
nouleel Few of importance are fealci As fla
=" bulge Is generally accepted as the liJuda ION az
contracts between biz interests that eau AFFORD 10
account.