The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-05-21
GREAT DAY FOR THE BULLS
Panic Seized the Pits, May Pork Advanc-
ing Coo, Corn &c and Wheat 2 $50.
Reported Blizzard After the Disastrous Flood
and Attempts of the Panic : Stricken
Shorts TO Cover Caused the Bulge.
TRADING AT CHICAGO.
Calls for Grain and Provisions Met with
fusals TO Sell.

Calls for Grain and Provisions Met with Re-
fusals TO Sell.
CHICAGO, May 20.-Wilder clamor and
excitement over scarcity of grain and pro-
visions than WAS witnessed to-day on
Change could scarcely be imagined in
starving Russia. Short sellers. big and lit
tie. were in a panic. The price of May
corn shot up 20 and closed within &c of the
top. The July option gained 3lsc. Wheat
is up Csc. and pork. lard and ribs are. re-
spectively, Coo, .15c and .1712c higher. A
blizzard. following disastrous rain-foods
for q month. was the horror. Corn was
agitated from the start. and an immense
volume of business was transacted. The
opening found the crowd anxious. and offer
ings were slight. Partridge was heavily
short in July. and rushed brokers from a
half-dozen houses into the pit to
get his corn back. The trade had
none to sell to meet SO great q demand
The small shorts. too. were scrambling for
corn. Every message on the floor was dis
couragIng. The May price. held at 55Ac at
the start, went to SIC. then to 5Sc, as soon
as bidding began, AID sellers had it at6Oc.
june was quoted ut 46lac and 47lsc. and
sellers offered it at 400 on the early bulge.
July was at $50 to 45l9c at the start. went
to 461ac, back to 46c. then jumped to 474c
before IL o'clock. For an hour there was
q let-up In the panic, and July dropped
back to 46ssc. Later Partridge tried to
buy. and the price Jumped to 4I14o In a
ment anew. and May sold quite freely at
Coo. jumped to Ole, and went Oh to &c be-
fore l o'clock. June was quoted at 49l4c at
the same time. while July passed the high
point of the morning and went squarely
ND to 4Sc. Corn closed with trade great
ly excited and top prices pretty well held.
In wheat the opening was about &c
higher than yesterdays closing. advanced
111c. receded &c. advanced lac. then re-
ceded Use, rallied 1850. fuctuated some.
and closed about Csc higher than yester-
day. A sharp demand existed, and outside
parties bought freely. The short interest
covered freely, and felt rather uneasy at
tity of wheat offered. though on the differ
ent bulges some realizing followed. The
feeling was decidedly nervous. A heavy
trade was carried on in oats. the market
being greatly stimulated by the strength
of corn. and closing 11s01hc higher. Bust
ness was generally scattered. although
Murray-Nelson disposed OF considerable
July.
The provision trade caught the bull fever
from the grain pits. The greatest specula-
I've was III poAhs IL a
prices was 10c over last night. in sympathy
with corn. The strength caused the
local shorts to cover early in the day. Then
the packers began taking products.
armour bought lard and Cudahy. bought
ribs and Ry IAN " Co. bought ribs. lard and
pork oil day and were very bullish on the
situation. May operators. after covering
short sales. took the long side for the up
tnrn and the final figures were the highest
of all. Offerings of vessel room were light.
Rates held steady at &c for wheat and Ia c
for corn to Buffalo. Estimated receipts
for tomorrow are: Wheat. l34 cars; corn.
200 cars; oats. $50 cars; hogs. 1900. The
leading futures ranged as follows: