Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-03-05

who wanted the grain. however, seemed for .
time to have no trouble in getting IL from those
who already had it The narrowness OF tue
cause of the sensationally large de-
crease in available supplies OF wheat
last week. as reported this morning oy
l,772,OO0 bushels, Il45O0O bushels Of which de-
crease was at points on the Atlantic slope,
For about 20 minutes the crowd would not
believe in those hgures, they appeared SO
utterly out of line with the Gficlsl visible sup
ply. but when their correctness was substanti
ated there was excited scramble 70
buy Hutchinson, King, Harlow and Schwarts.
Dupee led the early buying, but Hutchinson
on the little buges. Meanwhile corn values
kept creeping up. and they ultimately got so
high that shorts In wheat could stana the
STRAIN no longer. They srampeded in body.
and values went soaring. May wheat. which
had started at g71sc and had ranged at 9!H@
sI1Sc all the morning, got up to ESsc ABOUT
noon: noon, This This was the price At which INA msny Oh sne
this price so many times before, that holders OF
these privileges had sold against them. AS
soon as the market overcame this barrier It
up to 81, but it broke back to 9s1sc In short
order. Many holders OF grain had plenty to
sell at the top price, and by this time most OIL
the shorts were in out of the dampness.
Corn acted suspicIously strong from the
start. There was no particular reason that was
apparent on the surface for the strength De-
yond the scarcity OF contract corn IN sgnt, out
people Just seemed to want 1t. Most of these
were people who had sold il short. They found
supplies very scarce. Holders of the grain
were waiting for large fractional bulges. When
these came to buy the grain back. which they
ultimately did, they found the market rising
very fast. May COZ n started at 56Hc. sold for
moment at 56xc, then crept up TO $3.50. After
reacting to Soc, it again started upward, and
after il once passed 5Sc the shorts were stani-
peded. and 1t went up TO 5Sxc in very short
order.
Oats were simply a repetition of corn. There
was a good general demand, followed by
stampede of shorts. May started at $3.50 and
ultimately reached Soc.
The provision market was apparently willing
to settle back little If let alone but could not
under the surrounding influence Of the grain
pits. May started about 2hc easier than yes
terday's closing figures, and the advices from
the yards of 5000 more hogs than had been
looked for was the Cause OF the decline Later
there was amended report making hog re-
ceipts 100 more than at nrsr advised, and this
caused confined depression.
Spectators from the grain pits filed in among
the provision brokers when the former articles
began to soar and prices Of hog products were
lifted bodily almost in spite of themselves
Shorts were the chief buyers. May pork de-
clined from So IS at the start to 60 So and adj
vanced to $40 o. Lard was Sc lower at the
start but advanced l1sc over the opening price
and closed with net gain Of 2xc. The net
gain in ribs since yesterday is SC.
The leading futures ranged as follows. as cor
rected by John NJ. Oakley Co., As sixth street.
members Chicago Board of Trade: