Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-04-30
MARKETS BY WIRE.
A Sensation in the Chicago Wheat Pit
Strange Stories About Old Hutch
Prices of Cereals Go Or-Lard
aud Pills Advanced.

Prices of Cereals Go Of-Lard
and Ribs Are Advanced.
CHlCAGo-The grain markets all opened
very much lower than yesterdays closing prices
this morning. and with decidedly nervous
almost panicky-feeling on account of dis
quieting rumors as to the financial standing OF
b. P. Hutchinson. the veteran speculator, as
he was understood to have heavy line OF
trades in all of the pits on which he was carry.
ing heavy losses. The markets were further az
fected as the day progressed favorably by the
report that his checks had been all duly h"n'
ored at tho Board of Trade Clearing House,
ana unfavorably by stories to the effect that he
had mysteriously disappeared, and that he had
probably either committed suicide or was wan
dering about demented.
The rumors rs to his solvency were circulated
before the board opened. and it was said that
he did not respond to call for margins. This
led to fear that those who had trades with
HIM would at once proceed 10 close them out
on the open board. Fine weather and lower
cables also had their influence on the market
and the uncertain news received regarding the
French duty tended to create an unsettled
feeling. The result was that July wheat
opened at ST 04@l 041S against 81 069l 06H at
the close yesterday Some operators having
trades with Hutchinson proceeded to close
them out; but the market did not sink below
the opening inside figure, for the shorts began
to buy heavily and the price quickly advanced
to 81 051s, then eased off again and for con-
siderable time held within 81 045sQl O51s. Then
the following cable from Liverpool was shown
around: Wheat and corn unchanged, strong
and tending upward on the certain remission OF
half the present French duty on wheat and the
whole of the duty on corn"
Under this stimulus July wheat sold up to
81 055s and for a time there was strong and
active market. But Reanl. Pardridge and other
leading bears sold heavy lines on-the advance.
A dispatch received contradicting the reported
removal OF the French duty and weakness
again set in. 1t was helped by the report of
HutchInson's disappearance, on the strength
of which goo1 deal of his long stuff was
thrown on the market. This caused break to
81 045s. Closing cables were stronger, how
ever and July sold up again to 81 05Ls, but
weakened later, and closed 1Scbelow that
There was much activity and excitement in
corn with a wide and irregular range of prices.
There was an advance and then decline, but
on the rumor that the French import duty
would be removed, took jump to CSC; eased
off or the contradiction of this. and closed at
623sc. j., ~
Oats were active and unsettled. and although
opening weaker and lower. reacred and closed
L@lc higher than yesterday.
Provisions were weak for short time near
the opening in sympathy with grain, but re-
covered with the cereals. Pork closed at loss
OF sc compared with yesi erday's close; and lard
215c, but ribs were up 215c.
The leading futures ranged as IoIows as Cor
rected by John NJ. Oakley & Co., 45 Sixth street.
members of Chicago Board of Trade: