The Irish standard., 1895-05-25
CHICAGO. GRAIN :.

- Chicago, May 23.-Ihe wheat market
INDUCED in more pyrotechnics today.
July closed last night at TIC and this
morning there was trading at s1Ac,. ex-
actly DC appreciation between sessions
and with very little official trading at
intermediate figures. Shortly after the
tap Of the bell marking the end OF yester-
days trading on the Board of Trade.
the curb price was quoted at 49, and
some business was said to have been done
at 7912c. These prices are not recognized
by the board proper, but they reflect
the temper of the market nevertheless.
The cause for the sharp rise on the curb
was the rurnor that a prominent operator
who is short, was believed to be harti
pushed and had not responded to several
margin calls. This resulted in the buy
ing in OF quantity of wheat for his &C.
count and sent the price up. The trader
referred to this morning denied the
stories Of his financial difficulties but
the gain made in the price. was main
tanned and a further advance was scored.
The scene in the pit at the opening this
morning was one OF greet confusion:
During the first half hour prices huctua-
ted violently, and usual changes OF l-l6
giving place to spurts Of n and 70: there
was the same large number OF crop dam
age stories in circulation and the country
buyers were again present In great
strength. n sst. ..ss.
At Ii o'clock it was learned that. >. g.
Schwartz. the operator referred to
above, had failed to make good his mar
gins, although he settled his clearing
house balance. Commission houses HAY
ing open trades with him accordingly
closed them out. Mr.. Schwartz has ZOE
some time been a. prominent figure In the
speculative grain markets. About year
ago he made a great deal OF money on
the bull side of corn, but of late he has
been on the wrong side Of the Inarket:
He was probably short 0,o00 bu OF wheat
OH the present rise, some OF which was
covered at prices under the ruling quota
tons. Yesterday evening he denied tnat
he was in difficulties and this morning
appeared in the wheat pit as usual. He
also sent notices to the houses WITH
whom he had open trades, stating tnat
margins would be put up on time. AZ -
O'clock. when the time limit expired, his
wheat was brought in on the open mar
ket: promises having not been. tuAf1lled.
Fiis liabilities it is thought, will not ex-
coed $4,000, distributed among the large
commission houses. This is the nrse 81
rect failure in the trade since the 30-cent
rise began. ,.. &:- y, ~, ,,,
July wheat opened from soc to Sic, sold
between 1880 and SIC, holding at 8lNc,
or 4c higher than yesterdays close.
The price of wheat rose still further to-
day. There was some buying IN of snort
wheat for local plunger, who. 1ailed.lo
put up nldFBluS,. 0u.l e1S1SS AAssyAtA
strength occasioned by that the market
YVES still in the mood for advancing
Some OF the later bears having sent ex-
perts to examine wheat have been con-
WINGED Of the reported damage ana are
now on the bull side. LIVERPOOL ca bles
were strong; continental markets We're
closed: cash wheat was strong and &C
higher. ,,s,Ts 5.3 Z -, y,
The market broke from s811ac to. 781ac
for fully in the last ten minutes, every
body trying to sell and no buyers appear
Inc. July closed at 78Ac--17kc higher
than Yesterday. Estimated receipts for
tomorrow So cars. ! Y. 4, VI VI . 7,
Corn was strong, sympa hetica lly with
wheat, and also on the belief that g large
portion OF the corn area will have to pc
replanted. Estimated receipts for to-
morrow, rs cars: July closed nc higher
than yesterday. h3 ID a w II u,
Oats obtained strength from the other
grains The sentiment was stronger On
fhe reports Of inquiry to the crop. Est
Srnated receipts for tomorrow, 46O cars;
July closed 1M@11sc higher than yes
Flax. steady: cash, $1.4s: May, s1:47
nominal: September. $l,25; receipts. !
cars, 35 n " LIN d Xxi. v. ".
Timothy was steady prime cash. IS,
nominal; country lots, $4.50Q14.75; Sep
tember, $4.20 asked; clover, prime, $500,
4 Provisions were barely steady. The
packers were good sellers July pork
and lard closed Zoe lower and July ribs
71ac lower. n I'll IA. III a 3 Il =, i. . Ill