Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-12-05
BEARS LAUGH LAST.
But the Bulls Have Everything Their Own
Way Early in the Day in Wheat, Corn
and Provisions-Oats Alone Maintains

But the Bulls Have Everything Their Own
Way Early in the Day in Wheat, Corn
and Provisions-Oats Alone Maintains
Its Strength.
CHICAGO-At the start this morning the
sentiment in the wheat pits was decidedly
bullish. Prices were not advanced much.
but confidence was expressed. The buying
was more generous and short sellers more
cautious. Part of this strength was carried
over from yesterday, when the market
closed firm. The feeling was aided by
stronger cables, Liverpool being quoted I'd
higher and Berlip better in the public cable,
though private advices were less encourag-
ing. The smaller receipts in the Northwest,
the fear of the weather following the recent
rains and the general ffrmness in domestic
markets, were also strengthening factors.
For time there was general disposition
to cover short wheat, with selling both re-
ket turned weak. Private cable advices
being weak, the downward movement con-
tinued. An attempt was made to start 4
panic when the news of the bomb-throwing
in Russelrs Sage's office in New York be-
came known, but it did not succeed. In the
last hour there was an advance, but the
market grew weak again near the end of the
session and closed weak at the bottom
figure.
May, which is the most active future,
opened at 977Sc, sold up to 9s19c. receded
gradually to 9T3sc, f1rmed up to 9114c, broke
TO 971sc, rallied to 971&c, went off to and
closed at &c, loss OF &c compared with
yesterdays closing prices.
December corn opened decidedly strong
ana higher, but the advance was all lost,
with something besides, before the close.
There were several reasons for the early
strength. The price at Liverpool was
l penny higher; the inspection into store
showed only 36 cars of fcontract grade out of q
total of 467; stocks of contract corn are very
light, and the big engagements made during
the last few DAYS indicate that it is going
ness in wheat and porl, was also a strength
en1ng factor in corn. But the advance led
to pretty free selling. December opened at
4s2Sc, against 471Ac at the close yesterday;
sold up to 4s34c, broke to 4734c. 1uctuated
narrowly for time, broke again near the
fluctuations in the more distant futures
were less marked. May sold early at 1890
and closed at 1910, which were the extreme
prices in that month. Oats were quiet and
firm ami closed slightly higher.
The removal of the prohibition on Ameri-
can pork by the Austrian Government had
no effect on the prices of hog products, as it
was argued that many months would elapse
before 1t would result in any trade with that
country. The official count of the hogs re-
cefved yesterday showed decided reduc-
tion, as did yesterdays estimates of tO-day's
receipts-in the aggregate, about $4,000. This
caused higher prices for products at the
opening. The advance in the price of corn
was also bull factor. The early advance
was taken advantage of by some tired longs
to unload, and their offerings broke the
market. Later, on estimated small receipts
for tomorrow, there was a reaction, and the
close was near the top and at a fair advance
over yesterdays last prices
The leading futures ranged as follows as cor
rected by John NJ. Oakley & Co.. 45 Sixth street,
members of the Chicago Board of Trade: