Evening star. [volume] (Washington, D.C.) 1854-1972, 1888-10-04
Fortunes Made I'm an Hour

A DOZEN cHIcAooASs on 'cHANGE WIN 500, 600
APIECE IN THAT TINE.
Chicago Special to the New York World October g
II the wheat market was properly called delirious
yesterday ft was stark crazy to-day. Those who
tried TO keep any track OF II had swimming heads
In the first half hour. The fluctuation OF prices
was the greatest ever known In the history OF the
board. The excitement and noise kept pace with
the nuctuation. II was all about December wheat.
The close last night was at tL0Sk. when the bell
tapped this morning, above the wild howl that
went up somebody's foghorn voice could be heard
bidding furiously for December at slO9x
"He's crazy" said several bystanders, but the
next second the purchaser had closed IL out at
sl.11k and was bidding for more.
There was no certainty as TO the real opening
price II was anywhere from s1.09E TO 81 IlX. il
was absolutely impossible 10 keep track OF the
quotations There was difference OF from
cent to cents between sellers and buyers and
the trading was or the widest kind Men with
wheat bought this minute at 81 u heard 81 IL bid
Sas not the nerve 10 cry Singer sns ANA
son. and Others had men In the pit bidding all
sorts OF fancy prices and saw the price going up
cent clip without getting a bushel OF wheat on
their bids. Before fve minutes had passed IL
reached 81. Is What sellers there were were exceed
ingly Careful as 10 whose bid they accepted, and
this disposition helped On the panicky feeling
The men VINO were trying TO Initiate ssOld
Hutch were on hand In swarfns. JACK Cudahy was
one OF them. he sold an enormous quantity OF
wheat to-day at top prices. IL was bought when
the bulge began, ana Cudahy must have mad
nearly as mucn money as Mr.. Hutchinson made
Monday out OF his charitable deal
George smith, q young English trader was
another who tailed on In Hutcninson's rear. He
sold lot at 81. Is which he bought at 50 and IS
cents, and now he can buy all the diamonds ia
chicago II he wants 70.
CURIOUS SCENES ON TIE FLOOR.
There was many curious scene on the door.
Dealers would buy q lot at eLl4 The next In
slant some one would bid 81. Is, and then In the
mad rush 70 get the sale the brokers would almost
gesiiculating and shouting hish In the air IL rs
reported as AN actual fact that many dealer lost
an advantageous trade because In the whiring ex-
There was considerable establishment expressed
that some nrm had not gone TO the wall In the ex.
element OF the dig advance, but the shorts seemed
pretty wen covered, or at least that interest was
located with houses able to stand the pressure.
Some of the houses carrying English traders were
on the short side some time ago, but whether th-y
generally reliable men, and IL Is expected that
they would fail 70 put up this deal after having
made money for 80 many years The local short
timely warning which they have had OF the ad-
vance caused even The more unborn bears 10 come
In out OF the dampness
AN UNSAFE MARKET.
The market In Its present excited and unsettled
state 10 thought to be very unsafe by many CON-
mission men, and they are forsaking wheat ana
advising their customers not 10 trade In It The
price fell as rapidly as it had r1sen the e ormous
sales s OF the nrst hour gradually beating the
eel al less than Sll4k. In Duluth december was
selling at e123 ana 10 Detroit Al Sl-20. December
Hi5x. There was no nme during The DAY.
however, when an attempt 70 buy 100000
bushels would not have sent It kiting TO sl.20.
itself apparent In the market and II was
evident that at el16H, where IL stood for
n0Sss on Ss
trailing for i,ye minutes or So after which the ae
mand RECOMMENDED, and under some hot bidding
higher than ever, reaching sLlsA In very short
order. The demand being temporarily satisfied
the price again fell back 70 the figures between
81 Is and 81 1914 Between i 10 and I is O'Clock
the market WAS more nervous than ever. the
fluctuations Of cent were constant and there was
% SseW TSe cSSuxes Or osn e.Os
Sl.ls and q Y were made monentaniy. Il closed
~ r ,ars sc,s n win wheat ana ro,.
Der, winch you could hardly have given away two |
days ago. Jumped nearly cents shortly after the
opening. The proots o. scalping curing the Gay |
on the noor who were said 70 have made 100000 /
apaece during the flrss hour All the small try OF
speculative turn went In ana did their best and
most OF them came out with something. One
broker gave Il as his opinion that the short inter-
est IN December VIII amount 70 40,000.o0o OF /
So 0oo. 900 busheiS
rRxDIcrme szRAK.
Counseman u DOW regarded a. the leadefQf the
short interest," he bought heavily this md00ing. L
He y supposed 70 represent . large clique az Out
saoerA 10 the oldest broIeD the strAnge9 thing
y that thoge have been 90 few fallurss smong tee
sSsi auichinsos has saved : nsn6er q Ne NC.
Tins from puossc ruin co9 purpoo<9 o. u owA 80
u keeping them now completely ~ h0 p0vef.
thai the Jumping market would oring o0Wn two
q thrUe hoNses EcGore IL oAy vs. oysfs ous bese
sSSise Sssss 3 he oslisf eIss iorslgn psrchsssu
WI 6schao Anor1con wnsae wnlls tse mArkrt
contisnes y ~ pgsssot sRaseae cosa,1oa, sne