Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-04-19
WHEAT OUT OF SIGHT
MAY REACHES ft4ts, THE HIGHEST
POINT YET ATTAINED.
SEINE Sales Even at I15-A Great Day
for the Holders of the
Cereal.
LBy telseraph % ths plspa.en.l

CHICAGO, April 1s.-It was lively day on
Change, great day for the holders Of
wheat. 1t was day In which the speculs-
tive giants fought long and stubbornly-
contested battle to decisive finish. The
result was disastrous to the bears but high
ly profitable 10 the bulls. Enormous
transactions, which showed tremendous
losses, were evened up. One commission
firm bought in line OF 100000 bushels of
May wheat, which was sold short at 16
cents below the price at which 1t was pur-
chased to-day and some OF IL was bought
OF even 20 cents above theprice it had been
sold az. So far as known only one OF the
great traders who are nearly always TO be
found on the bear side of the market re-
fused to haul down his colors and sur
render. The first few minutes trading
were exciting, but merely preliminary to
the great struggle Of the day, which con-
tinued with gradually increasing fierce
ness for an hour, May advancing about 3
cents in that time.
MORE BID THAN THE STUFF rs OFFERED AT.
Although millions of bushels were being
offered st the heavy advance il prices
which had Immediately succeeded the first
few trades, goods did not come out fast
enough TO satisfy the urgency OF the shorts,
who frequently in their excitement bid
moro for the stuff than twas being offered
at. May started with the first sale at 1921,
but Ito, il0A, 1l0n, aud Ill were then bid
before any came out. Before the memo,
randum Of the last sale could be jotted
down, the entire crowd was shouting In
chorus, bids of liz, and in minute more
lis was paid. Reactions of 10. were instan-
taneous during the first balf-hour, but
~ inward
1880 A. A., after which tired nature and
the call price, which by that time had been
reached, called halt to the advance and
q respite to the tortured shorts. The price
In the mean time had advanced TO ia, and
although some sales were made even as
high as lis, there were many orders to sell
at 1l4I< which could not be executed for
lack Of buyers. There was nothing IN the
news of the day to account for such phe-
nomeual strength. The bears appeared to
take fright at the evidently manipulated
appearance of May futures. The realizing
sales by large conservative holders here
was taken as q concession that the pace
abroad had been little too hot TO last
much longer without breathing spell IN
the shape of reaction.
THE CLOSING QUOTATIONS..
The closing quotations-f12H for May
and I09L for July-show net gain OF lB
and NC. respectively.
Corn at the opening was inclined TO yield
10 the improved weather conditions, but
was detected for time out of its natural
course by the big advance in wheat: IL
returned, however, after the more timid
shorts had covered to its first inclination,
and at tho close was selling atalo loss for the
day of AaHc.
The feature Of the oats market was o
realizing by the longs, who took advantage
Of the high prices that prevailed early to
putiout numerous lines.
The provision market was very dull and
Hooked like going lower, but was upheld by
tho strength of the wheat market. Closing
sgrioes show May pork nc. higher; July,
21<c. higher. May lard lost &c. OF its yes
fterdsy's value and July an equal amount,
while ribs gained 2lSc. for the May and
September deliveries.
CASH QUOTATIONS..
Flour flrmer; spring patents, S4.S5a
$3.50; winter patents, S4S0aS5.90. No. 2
spring wheat, S1.12aSl.12H; No. 2 red,
S1.131as1.14. No. 2 corn, 7411c. No. 2
oats, So assoc. Mess pork, S12.S7H. Lard,
| $6.sT16aS6.90. Short ribs, S6.50aS6.55. Dry
ealted shoulders, $5.2OaS5.25. Short clear,
| S6.75aS6.SO. Whiskey, S1.1S.
The leading futures ranged as follows: