New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-05-04
EATATTHE DOLLAR MARK
HITC HINSON'S PREDICTION VERIFIED IN
CHICAGO.
my WEATHER IN THE NORTHWEST CAUSED A
PANIC AMONG THOSE WHO WERE SHORT
THE VOLUME OF TRADE IN
---I-,rTy
USUALLY LARGE.
,nY TELEGRAPH TO TIE TWBusH.1

Chicago Nav Wheat to-day touched the dollar
mark and even went little fraction above H. 'crcDy
realizing Hutchln-on's prediction. ms was INC nv
don't If tho day If II were possible for any one thing
70 he worthy Of special mention in a market which
advanced 4 % : cents a bushel. July opened az
81 II cents sold up to 81 30. and closed AT
% cents. Nav started at % cents >oiu a. M"
a, II and closed at o. cents. June opened NJ y" -
cents sold Al 90. and closed AT % IL cents i"'
near by options. May and June. a. has been te case
all the week. sparincy traded in. Thcre was
however little squirt OF activity in May AT 81
Wheat trader, again this morning on coming down
town made their way az once to the weather map
They saw that the WASHINGTON predictions OF raul III
the Northwest had not been fulfilled. Ihat se''led
the market for the day. There was Just trace Oh
rain AT Duluth. and little cloudy weaher AZ -
Paul. Everywhere else in Minnesota in Dakota IN
Wisconsin and In Iowa the weather map showed that
there Wa no rainfall. Private messages from DAKOTA
,crc ~ A most Sensational sort. declaring the wheat
field, to be- like ash heaps and Announcing tiat the
high winds on Friday night had caused destructive
>andstprms. Notline more wac needed 10 compete
"a. mimic ~ the short sellers here and 10 iniame
the bulls. ON the curb, before the opening inc
buying pressure caused advance Of IL cent, and
rho regular start wac a full cent the closing
urico on Friday ncht. From the opening until
an advance Of cents had been
made there WAS practically only one direction TO
The market and practically no pauN@ when
private message came from Milwaukee about II 80
o'clock declaring that the Thermometer there Hau
dropped ahoat thirty degrees and tina there mad been
, lttlc rainfall. the price dropped cent bushcl.
In the pit although the volume of trade was
enormous. and although all manner Of commission
houses biz and little, participated the operations :"
Hutchinson were easily d,ocrnibe. II was estimated
that he bought between 100000 and 2oooooo
bI,hcI, OF wheat. Although it was explained mat
he had sold on Friday call, to fully this amount ana
that his purchases simply rcins ains him, MS
buyns added greatly 10 the excitement There was
naturally on such An advance much realizing T.
apparently it did not by any means keep up WI the
new demand \ million more bushels of wheat
held through Dunham ~ Co, presumably Tor
cocrlc Of Hebrews. went over. and A. mu'h moro
through Edward, ~ Co.. Bailey a co. ana one oF
two other commission houses. There was selling
throughout the adv ancc from hundred different
quarter, Altoccthcr. 1t not sufficient 10 supply
fine demand uu.iI. from 81 ia. ccnt, july wheat had
risen 70 gi3I Possibly, even then
the buylng fever would have been
ocr,c - ever but for tho
news from Milwaukee that little rain was falling
Corn WAS active again and higher. May opened
AZ "A cents, sold at 80 = and closed at 80 Isl.
July was most Of the day at cent premium opening
at 30 cents. selling between - IL and 80 i ana
closing AT 81 3-ia7-- oats made another little rush
ON the dry weather but did not hold May opened
at - - cents, got 10 20 l.. but closed at - L.
July opened at - cents, touched - -, but closed
at % l-s The arrivals large i"1 ears. and the
rht" i,rgc movement would probably have Offset the
inn,n,c of the dry weather had II not been Tor hedNt
having lax The Wcarc commission company, presumably
IN ,,,'rr iort, As II was the big movement finally
nrcy,iJ,d 50 far that the close was actually triho
Under FRIDAYS last tiguNo. No. sold at - u
cent No 3 white. at - "a - cents, and No.
white Al - IA - cents. \ round lot OF 10000
buNheis No . white, clipped -od for export at 80 Is
rcrts free ON board. FUTURES of No. = white were
slow. May quotablc AT - 2a2' "a cents, ana
lime al - -a - = GEMS. rONla!OiS were neg
Icc,rd even the professionals 0t the pork PIT belnS
drawn AWAY by the extraordinary activity In wheat
porl wa, hardly more than nominal all day. Prices
shaved a little decline July opening at TlJ 3D. tonth-
Ing Sl3 30. but closing AT Tl3 10. iari ana ribs
olcned where they closed on FRIDAY Lara CLOSED IA
decline of , cents. ribs AT a decline OF = cents
The estimate for next weeks hogs ran as high ~
900 There free selling of ribs by Hutchinson
and also by Ryan, and prices were without any sup
port oo,, -. r,,,s
closed at ii cents although selling as low as ~ =
call, closed at 90 81 cents, although selling as hsh