The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1891-03-25
PRODUCE MARKETS.

CHICAGO, May 23.-The visible supply of
grain as reported for the board of trade are as
follows: No. wheat. 23.o59.O00; increase,
$1,000. Corn 2,97I coo; increase $50 COO Oats.
2.Sl1,0O0; decrefss, 1000. Rye. $4,000; in
crease. $4,000 Barley. Las, COO; decrease $751;
600. The day was an exciting one on the board
of trade during most of the session. 1t was a
bull campaign in all parts of the floor and the
bears were being tossed high in air in all of
the trading pits. The excitement
carried prices up in nervous jumps.
Wheat was strong. II started on the jump
and toward 10 o'clock, after having advanced
1c per bu., il broke through all restraints and
made jump OF an additional 115o in about
five minutes. The cables were very firm, with
strong upward tendency, and the weather in
England was called frosty. A mistake in
Brsdstreets report of the worlds visible sup
ply, as reported Saturday, made, reducing
the total by 500000G0, and corn was advancing
&c at jump. The starting price for May was
anywhere from $1.O2 to $1.023l, with very little
sold below the highest OF those figures.
Around S1.025z and up TO Sl.03 buying and
sell Dg went oil at r rafting rate for about
Eve minutes. The fluctuations went darting
up and down between the quotations given
with occasional shoot upward TO SlO3H
during the first hour and half of the session
and then followed the excited advance already
alluded TO. under which May rushed up
ward to Sl.0I11. The rapidity OF the advance
can be judged from an incident Of the trading.
A broker who had orders to buy in about $780,
600 bushel for a prominent short seller bought
the first 90. 900 of il at Sl.03 and although he
got it sli in $4,000 and $1,000 bushel lots as
quickly he could get them on his trading
card, the price was $1.0l1s before he could
complete his order. Heavy shipments Of gold
were engaged for expectation by Wednesdays
steamers, according to New York dis
patches and some OF the most successful local
spectators were among the heaviest
sellers on the advance. 1t was not until the
visible supply statement was published showing
159 1913 bushels increase during the last week
that any general disposition TO fight the sd
vance was INDUCED in. The price of May
worked backward to 81 03A, but only rested
there very briefly when lie was quickly clapped
upon the top OF the quotation last set down.
The highest point reached was Sl.04s4, ard il
was wanted st within sc of the top as trading
ceased for the day.
The shorts in corn were in even worse pre-
dicament today than on any OF the former days
of their recent grievous trouble. The weather
was damp and the receipts were 90 cars
less than were estimated on Saturday.
The longs were masters OF the situations. The
wildness of the opening may be gathered from
the different prices paid at the first rush.
There were sales OF May made simultaneously
at &c, and at many other intermediate prices
all the way up to 6S14c; that was the highest
point until considerably later in the session.
when it made another upward rush up to 69c,
the top price of the day. Strength and excited
bidding up on every upturn were the prominent
feature OF the days business. Oats partook OF
the strength that characterized every
thing else on the floor closing %(n1c higher.
New York bought, the shorts bought and the
local scalpiug crowd helped the advance.
Bartlett Frazer led the selling. The provision
pit was a counterpart OF all the others. 1t was
difficult to execute orders so quickly did Of
ferings dry Up when the buyers were the most
clamorous. The receipts of hogs were 1900
head below the estimated and prices were
higher. The shorts were run to cover and had
to pay heavily for the privilege of getting out
of bad deal.
The leading futures ranged IS follows: