The pioneer express. [volume] (Pembina, Dakota [N.D.]) 1883-1928, 1890-09-19
A RAISE IN GRAIN.
Surprising Jumps in Grain
Caused by the Government
Crop Report.
Corn and Oats Follow Wheat
and Make and Maintain
Large Grains.

CHICAGO. Special Telegram, Sept. l2.-At
night OH the curb excited brokers were try
ing to get December wheat at $lO7, an ad.
vance of nearly SC over the last rcgu-
lar price Wednesday. This surprising jump
In one day was due altogether to the gov.
ment report Issued Wednesday night
There was practically no other factor iii the
market. Prices before the opening showed
an advance of about &c. and the first
regular price after the tap Of the bell
showed another &c gain. From the OPEN
ing to the close there was steady buying
OF wheat at one moment by shorts, ut an
other by outside bulls. The pauscs were
very brief the little reactions which were
experienced very deceptive. The tip top
figures OF the session were made in the last
few minutes of the trading. With the cx.
ception OF small Northwestern move
mcnt-only 1917 cars at Minneapolis-an OF
predicted bad weather in the Dakotas,
there was practically no other outside in-
finence than the government report. Pos
sibly the news that the money market at
New York was very tight had slight re-
straining influence; but this was not alto.
gether clear.
Shorts. big and little, were stampcdcd.
That was the immediate reason for the
rush in prices. 1t was the gossip that
Partridge was caught short on line of
million or so, and when December got to
$l.O63 and over it was generally set down
that dozen or more brokers were at work
getting back his wheat. 1t was also the
talk that Hutchinson had sold q good
many calls on Wednesday night Certain
1t was that at times during the day lie was
large buyer. The selling during the Sos.
sion was evidently by traders who had the
stuff to sell.
Corn advanced as far US wheat did-over
4c-and maintained 1t all. The last fig
urcs were ut the tip top. The motive was,
of course, the government crop report. The
buying was all the iicrccr because everybody
had been caught unawarcs. An improve
mcnt, not loss. had been generally cx-
pcctcd. 1t was quite generally known in
the pit that there had been enormous SELL
ing of calls Wednesday night by Hutcliin.
son and Partridge. and that the entire
block, aggrcgating, some thought, as much
as 2,O00 OOO bu had been taken by a couple
Of bull houses. Everybody anxioys!y
awaited the announcement. Hutchinsons
sales were supposed to be again long corn,
so that nobody expected him to be an cx-
cited buyer. 1t was thought, how
ever, that Pardridgc's sales of calls
put him short. and he was momcntarily
expected to make dash for cover. Sure
enough he took alarm before the close
The tip top prices were on that sort of buy
ing. The excitement of the shorts was not
alIaycd by the announcement by the signal
service authorities that the weather Friday
would be decidedly cooler. The. arrivals
IA oct nv tNfn fnr ErSf
Vessel room was chartered Tor 777, coo BUSH
els.
Oats advanced 2 cents on the announce
ment by Dodge OF an average condition OF
enly GA. AS was the case with oil the
other grains the final prices were ebout the
best. The arrivals were only 2l3 cars: the
all the other pits, scramble by shorts, and
especially by those caught by sales Of calls
Wednesday night,