Western Kansas world. [volume] (WaKeeney, Kan.) 1885-current, 1888-10-13
THE WHEAT PIT.


Produce Exchange.
NV 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
crowd of brokers on the floor of the exchange
as has ever attended the morning session.
The market closed last night for December.
$L171s; May, $1.21. At the opening of
the market to-day the wheat dials were
the cynosure of all eyes on the crowded
floor. Promptly with the stroke of the gong
announcing the opening of business the
needle-ike hands on the dials shot around
with lightning rapidity to $1.19 and S1.191s
respectively on each dial for December, and
$l2lss@$L21H for May.
The general buying movement was set in
motion by the larger houses here by repre-
sentatives of western capitalists. All other
aside and general rush was made for the
wheat center. The cries from the disap-
pointed shorts mingled with shouts of e1tl-
tation from the overjoyed bulls and pande-
nonium reisned supreme. "O.d Hutch has
again got his work in, "Look out for the
millers scare next" and "Here's another two
million clear for the Chicago robber," were
the EXPLANATIONS that went up all over the
room. Everybody predicted higher prices
than have get 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
ers than those who defaulted to Hutchinson
is 80 great that every one interested pre-
serves the utmost secracy pending negotia-
tions with view to squarlng accounts.
Even the applicable old man himself has
purposely beittled the situation in order
TO spare the shock, which q generally re-
stored confidence would otherwise suffer.
He stated for publication that the shortage
remained unsettled. Monday amounted to
only about 275, 600 bushels. Clifton & Co.
had failed short 100000 bushels of this,
so that all that remained for him to collect
was 50 bushel on about $4,000 bushels.
There are gUcd reasons for belief now,
however, that the remaining shortage e1-
ceeds 100000 bushels, and that two or
three of the largest houses Oh the board are
seriously involved in 1t. That altogether
no less than twenty firms are trembling On
the brink of the chasm that will swallow
them unless Hutchinson agrees to accept
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 di ;tinction at this late day would
be invidious. The big houses. for whom it
is that Hutch is ''gun ning," have taken ad-
vantage of the fact, and will ether get re-
duction for everybody or force the small
ones to pay the full amount with
them, which some of them will urquestion-
ably do unless Hutch comes down a number
of pegs with his settling price. Up to last
night Old Hutch had grimly refused to come
a single notch.
NO FAILURES REPORTED.
CHICAGO, October Elm spite of the rapid
advance and its wild fluctuations there is
but little excitement on the board. The
abnormaliy 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 q number of failures if an advance
should continue have not been realized.