The record-union., 1895-05-25
COMMERCIAL.
Wheat's Upward Movement Receives
a Setback at New York.
A Decline In Prices Also Noted in the
Chicago transformations
at San Francisco.
NEW YORK. May 24th.

NEW YORK, May S4ln.
Wheat's upward movement received an
other black eye to-day, and the bears 1eiI
better than at any time since the rise started
The net loss in price for the day was 29sc,
making drop of DC from the highest point
1t was simply a case of taking profits Inc
selling began as soon as the gong struck. July
opened from 81 nc down to sic, all at the
same time and then by quick stages dropped
to SG14c, where further break was checked
by new buying. Throughout the middle OF
the day trading was unimportant and fiuctu-
ations few and far between, but towards the
close the bears attacked the market vigor-
ously, forcing out q lot OF long Wheat and
clipping large slice off the prices. July sold
as low as 79c, rallied a tritie and closed nerv-
Gus at 1850. Taken as whole, the volume
OF trade to-day was the highest since the rise
began only 1 8. 100000 bushels being dealt
in, of which 5000, 900 bushels were sold by
IL o'clock.
Following are the closing quotations: May,
7S1sc: June, 1870; July, 1880; August,
1870; September. 1876; October. S2c: No
vember, o21ac; December. size.
AT CHICAGO.
CHICAGO May Gath.
The edge was taken OFT the bulls to-day, and
everything closed lower. In comparison with
yesterdays final figures, Wheat finished 154c
OH, Corn, 114c; oats, 12c; Porki SOC; Lard and
Ribs, 21ac each.
Although the Liverpool Wheat market
opened I'd lower than it closed yesterday,
and 1T had rained in Kansas during the night,
the market here opened with some buyers
willing to pay 79c for July Wheat. Not
many buyers. however, paid that The great
majority were willing to sell at 1880, or the
same as 1t was worth at the close OF yester-
days session, and some even pressed some
Wheat for sale which had good profit in it
at 1870.
A great deal of Wheat was wanted at from
1870 up to 1870, and before the early buying
orders. which succeeded the opening break,
could all be filled, the price rose again TO 79c.
For about fifteen or twenty minutes the price
heaved up and down i'll irregular sWells and
depresSions between 1910 and 79c and then
came a crash,
Corn commenced to tumble, and when it
had broken to 1zc below the price 1t had
closed at yesterday, then Wheat had sym
pathetic spaSm, and collapsed suddenly TO
774c. The reviving influence of fresh buy
ing orders was again applied, and before
many minutes ii had again recovered TO
1910. The first downward plunge was due
to the lower cables, sales by long and the exe-
cutlon OF stop loss orders. On the next turn
1t declined to 1879, and then kept wobbling
laZily for an hour or more between 7S$Sc and
79c.
The volume of trading was very much re-
duced as compared with the tremendous
Dulk OF business done every day for ten days
back. There was considerable intervals dur
Ing which there was actual dulinesS in the
PIT, but al no time there absence of
nervous Watchfuiness that kept the pit filled
with brokers alert Tor contingencies.
The reports from the South concerning the
crops OF the states of Indiana and Illinois
were voful In their monotonous reiteration
OF dest uction. In addition to these States,
Ohio, kentucky and Missouri joined the dole
ful chorus, and even the Northwest had some
complaints TO send about unfavorable weather
Tor spring Wheat
The market began to weaken very much
after the noon hour, and long Wheat kept
coming out in heavy chunks from that time
up TO the close. There were strong fights dur
Ing the decline at 7Sc, 7754c anu finally at
763sc, but 1T was not until the latter point
was reached that selling orders ceased o pre-
the last few minutes, but at the close there
were sellers at nc, and it dropped to 763Sc
before the crowd separated.
Following are the closing quotations: May,
76c; July, re; September, 77Ac.