Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1888-10-19
THE WHEAT PIT.

Wheat Sales at the Chicago and New York
Produce Exchange
NEW YORK, October 6.-The wheat pit on
the produce exchange is again to-day the
scene of the widest excitement. The half
days session was ushered in with as large a
crowd Of brokers on the floor Of the exchange
as has ever attended the morning session.
Inc market closed last night for December
$I.Iftsi May S12l. AT the opening of
the market to-day the wheat dials were
the cynosure of all eyes on tbs crowded
floor Promptly with the stroke of the gong
announcing the opening of business the
needle-llke hands on the diais shot around
with lightning rapidity to S1.I9 and 81. 191S
respectively on each dial for Deoembsr. and
Sl.2les SLIPS for May.
The general buying movement was set in
motion by the larger houses here by repre-
sentatlves of western capitalists. An other
interests on the floor were temporarily laid
aside and q general rush was made for the
wheat center. The cries from the disaD-
pointed shorts mingled with shouts of exdl-
tatlon from the Overjoyed bulls and pands-
LnOnlum reiSned supreme. 't0ld Hutch has
again got his work in,' ttLiook out for the
mlllers scare next and tHere's another two
million clear for the Chicago rObber,'' were
the ordinations that went up all over the
room. Everybody predicted higher prices
than have yet been touched and buying went
on as fast as tongues could move.
THE MARKET AT CHICAGO.
CHICAGO, Ill, October 6.-Beneath the
calmer surface of affairs on change, there is
turbulent current that grows broader and
deeper with every day that passes by and
sees no settlement of the September wheat
deal. The danger of disaster to many 9th
eES than those who defaulted to Hutchinson
ls so great that every one interes ted pre-
serves the utmost secracy pending uegotia-
tons with view to squaring accounts.
Even the lmpHCaOle old man. himself has
purpOseiy belittled the situation Ia order
-rE WuhT uNn aHsnA FHr
stored confidence would otherwise suffer.
lie stated for publication that the shortage
renamed unsettled. Monday amounted TO
only about 275Oy0 bushels. Clifton 81 Co.
had failed short 100000 bushels Of this,
so that all that remained for him TO collect
was 8 a bushel on about I75,OOO bushels.
There are good reasons for belief now,
however, that the remaining shortage ex-
ceeds 100000 bushels. and shat two or
three Of the largest houses on the board are
seriously involved in 1t. That altogether
no less than twenty firms are tEeubl .ng on
the brink Of the ch9sm that Will swallow
them unless Hutchinson agrees to accent
considerably less than the price he fixed the
last day of the deal. The smaller Of these
houses are IN an exceedingly bad way, be
cause any d. ,tlnctlOn at this late day would
be lnvidiOus. The big houses, for whom il
IS that Hutch is ''gunning," have taken ad-
vantage of the fact, and will thsr get a re-
ductIon for everybody OF. force the small
ones TO pay the full amount with
them, which some of them will uuquestion-
ably do unless Hutch comes down a number
of pegs with his settling price. Up to last
night Old Hutch had grimIy refused to 0ome
a single notch.
NO FAILURES REPORTED.
CHICAGO, October en- spite of the rapid
advance and its wild fluctuations there is
but little excitement on the board. The
RbnOrmally rapid changes in values which
have been witnessed within the past few
days have put the trade into a state of mind
to be surprised at nothing. Fears ex-
pressed on the curb this morning that there
would be a number Of failures if an advance