Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-04-18
CHICAGO MARKET.
GOOD FRIDAY" TO SOME AND
BLACK ERlDAYn TO OTHERS. ;.
a Battie Between Realizing Sellers and
the short and Bun crowd--cerp Nervous
aud Oats Exeited--rhe Provision Pit.
[pz telerrnnn 20 thn nl.na,rh.l

remembered by all who operated in the
wheat pit. To those who Init it, cor
reetly 1t was Good Friday, indeed. for
there were unlimited opportunities for
landing money ON both sides of the mar
ket, while to those who guessed it wrong,
1t was decided "black Friday which
exhausted ordinarily safe margins in
twinkling. The net result Of the days
trading is an advance of SIC. in the price
OF the May option Of 2Nc. In July. as CON-
pared with the closing prices yesterday,
the extreme high notches Of the day and,of
the season being &c. better than those
figures.
wHEN THE DOOM sTABTEp.
The boom was started near the close Of
the session yesterday afternoon, when tho
Associated Press Paris cable quoting the
S,ecle of that city as saying that heFrench
Government would probably have to re-
move the import duty of twenty-six cents
on wheat before next August, and that
similar action would probably De taken by
Germany. This was teiegraphed by pri-
yate wires here from New York just as the
session was closing. distorted. 50 a. to soy
that this action vas about to be taken. IL
caused a stampede Of shorts, an advance TO
Sl.O7I for Nav at the close. On the curb
"AbSA hoAEss lhe bEitt WIN uP W VisN'<a"
ENORMOUS TRADE.
When trading opened this morning Sf.00
was the price.
The cables showed that the foreign
markets had responded to our advance.
An enormous trade resulted. The sltuh-
tion was bullish in the extreme and those
who had bought heavily yesterday were in
position 10 take their profits. a battle
resulted between these realizing sellers on
one side and the shorts and bull crowd
who were not long on the other. The We
tory temporarily was with the sellers.
vast quantity of long wheat was tmrre-
diately disposed Of. Il. II. Hutchinson,
George Smith, William Dunn, and many
Of the customers of s. V. White d Co., w.
q. Mccormick Il Co., Kenneth, Hopkins q
Baldwin. --- Farnum, besides 9 crowd OF
local scalpers, sold right and left, and the
price steadily worked down to Si.Os1s.
DELUGR OF LONG WHEAT.
This was followed by n swell to Si.0S&,.a
drop to Sl.0sL, followed by an excited adj
vance to 81 .093I. which brought outa del
uRe Of long wheat under which the price
again settled TO 81 .0s5l which latter pointit
had reached at IL O'Clock. july from Sl.O7H
aSl .0s at the start, declined 10 S1O6H,
advanced again to $l.O7H. declined once
more to Si.O6E, sold up TO Si.014 at the
same time that May was Bl.099l, and once
again worked back 10 S1.O5T. In the
mean time there were reports Of impending
financial troubles in Paris, the denial of
yesterlny'5 report that the French Gov
eminent would repeal the duties on wheat,
and fine weather as the bearish influence.
THE BULLs FORTIFIED.
The bulls were fortified with Mime
apolis message saying Pillsbury had adj
vanced the prices of patent -four 40 cents
per barrel, and with q copy OF the London
Standards article Of April 9th, in which II
rehashed its former sensational talk OF the
damage to European crops and the great
deficiency I'm the worlds yield for 1891.
The latter, while but slightly different
from the story published by the same
sheet several weeks ago, was sufficient 10
fire the ardOr of every bull trader on the
floor, and was the cause OF one of the
strongest bulges. Between 1890 and
o'clock the official closing cables were re-
ceived. A they reflected the early rise
here they had sensational effect. This
effect was further heightened by q dis
patch from San Francisco saying that
wheat had advance l0c. there since yester-
day. This lifted May TO Ill and July 70
1l0JI. and trading was within y Of those
figures when the gong tapped for the close,
CORN NERVOUS.
The feature Of the corn market was its
nervous strength early, and the evident
desire of tho holders 10 accept the profits
on the bulge. The Liverpool! market being
quoted excitedly higher and the fever in
the wheat deal were the stimulating fact
ors early IN the session. May at the open
ing sold at 73$Ic., or lc. higher than 1t
closed Yesterday. 1t declined later to
PIC. with a rumored sale or two at &c.,
advanced TO &c.,. sold of again to 725sc..
then up with a rush To "a &C., on again 10
725Ic. at the close. The execution OF orders
was as difficult as ON the previous day.
the fluctuations. Cash corn was still
worth premium over May, but this was
not so great as on the day before.
OATS EXCITED.
The oats market was very excited at the
opening, Nav starting at 56Hc. and selling
20 579Sc. inside of q minute. The price
advanced to 57<c., the highest figure that
has been made on the crop, and then
weakened TO 5615c. The markedrecoyered
TO b53lc. OF the close indicating q gain OF
&c. as compared with yesterday.
The provision pit built mp wall between
itself and its excited neighbors IN the
cereal crowd. The packers were evidently
of the opinion that 1t was good time 10
get rid of some of the immense stocks which
they were carrying and sold freely, with
the result of downward tendency in
prices. Though the opening prices were
higher than the close yesterday, last prices
show a decline of AZ .a5c. in pork. May
lard lost 21Sc., while July gained 2Hc.
Ribs show an advance of 5.a71Sc,
CASH QUOTATIONS.
No. 2 spring wheat, $1.1OKaS1.10H; No: 2
red. ~ .fO2IaS1.11M. No. 2. corn, Use. No.
9 oats. SIC. Mess-pork. so. s0aS12.s 5;
Lard, S6.s7J%. Short RIBS. $3.50. Dry salted
shoulders, as. 1Oaa5.15; short clear S66Oa
SEQ. Whiskey, S1.ls.
FUTURES.
The leading futures ranged as follows: