Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-07-28
1T WAS A BULL DAY.

The Boom Started in at the Tap of the Omen.
ing BeIl-It Continued Throughout tb,
Whole Day-Corn Responsible for thf
Start.
CHICAG0-Itw was a bull day on the Board
of Trade. The boom started in very soon
after the tap of the opening bell, and it was
still on when it tapped again at the close
First prices were the lowest of the day, and
closing quotations were at or near the tor
figures of the session. Corn was responsible
for starting the riot, and it led the process
sion and closed with a phenomenal ad
vance. Except in corn, the opening quota.
tions were weak and lower, but when the
shorts in the corn pit began to climb upon
each others shoulders in their frantic en-.
deavors to get some of the hoecake cereal,
regardless of the price asked, dealers in the
other caught the infection and began rapid.
ly to advance values.
Wheat opened &c lower than it closed Sat-
urday being depressed by the enormous re-
ceipts = ,345 cars having been inspected
where only $50 had been estimated-and by
the beautiful harvest weather. This was
very depressing at the moment, but cables
coming in some ~ hat higher and corn maxi
ing a sensational advance at the start, wheat
quickly recovered and soon became strong
gradually developing into an active and ex-
cited condition.
Domestic markets were all advancing, and
shorts here soon became wildly excited and
covered freely. The result was that Decem-
Der, winch opened at SS1sc, sold up pretty
steadily CSC, to 901sc.
Pardridge's brokers were big buyers as
soon as the strength began to develop, and
he covered large line in the vicinity of soc,
and subsequently put good deal of it out at
90c and above. Other shorts were all heavy,
while there was extreme caution on the part
of sellers. Logan & Co. bought literally
almost from the start. White sold some
after the market had turned 9Oc, but was not
very aggressive on that side. Schwartz and
Dupee were good buyers.
The market had very little to make it
strong except the strength in the other
speculation pits. Cables were firm, but not
greatly higher while the receipts were sim
ply enormous and are expected to be CORE
spondingly heavy tomorrow. Crop pros
poets were never better, the export move
ment unusually light and the increase in the
visible supply quite heavy. When it was
posted the price broke from 907sc toSS7Sc as
sisted by free realizing of profits on the
bulge and slackening in the demand from
shorts.
The late cables all came in strong and
higher. Liverpool reported an advance of
113G2d, and Paris an advance of 10 centimes
and corn taking jump at about the same
time, December wheat sold up to 9lIlc, or
3lsc above the opening, and closed firm st
9l1sc. New York was good buyer all day,
but Pardridge was the largest individual
buyer, though Bryant and Logan were act
i've in that direction.
and opened decidedly higher, soon grew ex-
cited and advanced about &c from the first
sales and was very nervous. Receipts were
so cars less than expected, and stocks everv-
where light; cold and backward weather in
the country, with the Eastern demand sharp
and New York higher. The local shorts
were making frantic efforts to cover from
the very start, and with little disposition to
sell, prices had TO be bid up in order to get
the property. September started at 5513@
Soc, and went right on up with but slight set
backs until it sold to 5sssc. 1t then sold off
posted showing decrease the market grew
closing at 5915c, at which price it was firm.
2 sold up TO CSC and No. yellow to &c, but
then broke sharply, No. selling OFF to CSC.
New York was strong and higher, opening
l15@2c above Saturdays close
1t is said that the advance was due to a
back receipts.
Oats were dominated by corn through
out the session, closing within 80 of the
led by the excited condition of corn and on
firmer cables. Hog receipts were in excess
of estimates, and prices W, re no higher, but
shorts we're excited buyers from the start
September pork sold from Sll 45@ll so, off to
s11 s. up to sl1 rs and closed at Sl1 90 an ad-
vance over yesterdays close of 221sc. Sep
tember lard shows an advance of 1213c, and
ribs of nc.
The leading futures ranged as follows, as
corrected by John NJ. Oakley Co, 45 Sixth