Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-04-21
THE FURRY IN WHEAT.
Excitement Continued-yesterday' Fiue-
tuatiops-Other Cereals and Provisions.
TBy telegraph 10 the Dispatch.l


tuations-Other Cereals and Provisions.
IBy telegraph to the Dispatch.l
CHICAGO. April 20.-The excitement
among traders on the Exchange which pre-
vailed during the last half of the week was
continued to-day. but its influence was
chiefly confined TO the wheat pit. Corn
and oats sympathized with that cereal to
some extent. but the dealers In provisions
were inclined to run their affairs indepen-
IDENTIFY. The result of the days trading
was an advance of 14c. for May wheat and
of 2sIc. for July, as compared with the
closing figures on Saturday. The greater
appreciation in the price of the July option
would seem to indicate that about all the
short interest In May has been liquidated.
In fact, in the trading to-day that mouth
gave place in the volume OF business done
TO the July option after the trading got
fairly under way.
Cables received here before the opening
were strong. French country markets
were dearer Liverpool was half to three
quarters of a penny higher aud cargoes
were a shilling higher at London. May
started at Sl.13 and touched S1.l219 mo-
mentarily, the result of sales by holders
who had a profit in sight but brokers
were fortified with buying orders from
New York for that option, and their bid
ding. with the failing on of belated shorts,
at once put the price up to $i.15, the high
est figure touched on Saturday. Then IT
was discovered that New Workers had
played sharp dodge and that they were
disposing of their previous purchases at
the advance. In the mean time the New
York men were quietly Mt work in the
July option, picking up such lots OF IL rs
they could get hold of without exposing
their tactics. July did not at once fol-
a1u in
trade therefore began to sell it. They
soon found that the eastern people Lad
absorbed all that the local crowd had sold.
This caused decidedly sharp rally. Be
fore it had entirely subsided Leopold
Bloom began selling enormous quantities
of July. s. V. White Il Co. and others,
acting for eastern account, absorbed all OF
the offerings. The market did not break.
Another rally followed and the highest
price Of the session was made. The May
| future did not keep pace with the rise.
| July wheat started at Sl.1O, sold 70 ~. liza
| Sl.l1%, TO Si10M. and Sl.l2. all before
| 1870. May when deserted by the eastern
contingent, sold from LIS down to Sill
Later. on strong closing cables, 1t rallied
| to Sl.l4II, but lacking support from the
shorts settled back to @1.l34, though II
recovered to S1.14 before the close. An
| enormous quantity of May wheat was sold
to-day by Hately Brothers, who were pre-
sumably acting on foreign account.
When the closing cables came in July
sold UP 10 Sl.l2% and May 10 S1.14A. The
cables quoted wheat at Paris at 45a55 cen.
| times and -four 50 centimes and franc X
| centimes higher. Berlin was 2a9a marks
| up on wheat. London was higher on Hour
| The market was unsettled and nervous al
| the close.
Corn was relatively much more quiet
than wheat. The range of prices was gene
rally downward, though rather higt
figures were made at the start. Hutchin
son sold rather freely, but other large ope
rators seemed TO be fighting shy of IT. Jul,
was the active speculative month. L
started at 6sJ4c., sold to 691sc. and was OF
| later to 68hc.
Oats followed corn. Hutchinson was, a
| in corn. the principal seller.
The trading IN provisions was dull an'
| fluctuations covered but narrow range
At the close pork was a small fraction un
| der Saturdays closing figures. Lar'
showed very little change, but. ribs TO
| May delivery were &c. lower and 2I5c. lowe
tor September.
NorF. A week ago the closing quotation
| of May wheat in Chicago was SL05&.