Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-11-20
MARKETS BY WIRE.
Another whirl of Excitement In the Chicago
Grain Pit-Values Vanish Early in
the Session, but Reaction
at the Close.


at the Close.
CHIcAGO-The markets from the extremity
of the decentralization at the opening recovered
some semblance of returning calmness at the
middle of the session. The sensational decline
of prices was recovered, and averaged higher
at the close to-day than the corresponding time
yesterday. May wheat, which declined SIC,
not only recovered this loss entirely, but added
&c to yesterdays closing quotations. Corn
closed without change from yesterday. after
spell of radical weakness. Oats made slight
loss. Pork declined 2Oc. and lard and ribs
closed at an advance of 21ac to &c.
citement at the opening. buyers kept their
mouths closed for moment, ard accordingly
the deafening noise which went up simulta-
neously with the signal to begin came from the
throats of the pan1c-strlcken holders. May
wheat which yesterday afternoon closed at
9S14c, was vainly offered at VIC, and not until
sellers appeared willing to accept 9614c did buy
ers come forth in any great numbers. lra1sac-
tons took place at the same moment ~ 9654c
and 96Lc. There may have been trade or
two at &C. and there certainly were some at
s6c. December was almost smotnered out OF
hearing when business started, May having
now secured the greater part OF the patronage
of the Spectators. 1t was offered at anywhere
from S914c to SS34c at the commencement. With
some transactions passing at both extremitlss.
All the decentralization indicated by the fore
going proceeded from vague apprehension OF
some impending peril. something more dread
full than had yet been made pubic, anu tne
imaginations of those who held any property
capable of further shrinkage have evidently
filledup the underlined outlines Of the antici-
pated calamity with heavy blotches OF somDei,
colored ruin. There was nothing In the usual
governing influences before business started to
account for the increase of the panlcky feellng
which prevailed. The cables. it is true, re-
ported that the English markets for oreadstuHs M
was weak and wheat lower, but less than this
could not have been expected to follow yester-
days extreme weakness here.
There was free covering of shorts at the open
ing of the market, and SO long as the prices OF
December kept down around 9Oc and May re-
NAMED in the neighborhood of 96Ic and VIC,
and later there was considerable buying Tor
long account. The feeling of alarm was re-
placed by one of moderate hOpefulness when
reports from New York brought no tidings of
any fresh disaster there and quotations for
stocks showed an improving market for good
securitles. May In the course of the last half
hours business advanced to 9SZc, reacted to
CSC, and had strong closing.
The corn market was scene of wild commo-
tion at the commencement and heavy transac-
tions were recorded during the first half hour.
Shorts were the only buyers in sight. and heavy
lines of those outstanding contracts were
wound up at the expense of the disappointed
sellers of long corn. The opening price for
May was 5G54c, and 1t sold at 501ac within a
minute or two thereafter, and there was a
quick recovery to 5lAc. The prices remained
within the limits of 5I@5l79c for considerable
time and then became nrmer, advancing TO
521lc. There was very little trading in the
other futures.
Oats opened wild and unsettled with sales for
May at L@3sc decline and quickly receded &c
more. After the furry better feeling de-
veloped, and there appeared to be as much de-
sire to buy as there had previously been to sell,
and prices advanced 2c, and the market closed
steady at net decline of l14@l3sc from yester-
day.
Pork-Trading was very heavy, accompanied
with frequent and wide fluctuations in prices.
Prices on the whole range declined 69@65c. At
| the decline the demand improved, and, as there
was less pressure TO sell, prices gradually ral-
lied 6OQSUc. and the market closed compare
lively steady.
Lard-A very brisk trade was reported.
Opening sales were made at 71@@l0c decline.
and this was quickly followed by further re-
duction of 10c. Later the demand improved
and prices rallied 20@2211c. and closed compar-
atively steady.
Short Rib Sides-More interest than usual
centered in this market and trading was quite
heavy at an irregular range of prices. Open
ing sales were made at sc decline and further
reduction of 10c was quickly submitted to. AT
the decline buyers were more inclined to take
hold. and prices rallied l5@l71ac and closed
comparatively steady.
The leading futures ranged as follows. as cor
rected by John NJ. Oakley q Co., 45 Sixth street,
members Chicago Board of Trade: