New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-05-23

BEARS UNABLE TO CHECK THE AD-
VANCE IN PRICE.


JULY OPTIONS REACHED so CENTS ON THE
PRODUCE EXCHANGE AND 'sl WHEAT" WAS
NEUTRALITY-SUSPICIOUS. OF DAMAGE TO
THE CROP HAD NO EFFECT
on THE MARKET
x...,o oo,.ars 70 prevail against the arguments
OF the ..bulls'' in the wheat market and the price
for al o,,ions continues TO advance. Yesterday al
tho produce Exchange July and September wheat
opened 3s.Q4 cents up and for the first time since
1902 touched So and closed at that inquire Tor July
and q, SOL for September. Despite the eHor's OF
tho hears TO depress the price the market ADVANCED
all CAV. and renewed reports from the West about
cron damage and injury from bugs helped prices TO
move in a way which made traders predict 81 wheat
one of the curious and inconsistent features Oh ''e
arguments being used by the bulls Is that the 1ros'
and bugs are destroying the crops at the same u'e
According to their information all KINDS OF III
sects. including the Hessan fly, the chinchouS
and army worm are waging fierce and destructive
warfare in the wheat belt. and at the same "'e
damaging frosts and unreasonable storms are put
ting to a speedy death all hopes for eooa hars-s"
As one bear operator remarked yesterday Ihe
bugs must be wearing overcoats this year. OF eSe
they could not get in their fine work al the same
time with Jack Frost" II hot weather is men
toned to the bulls wheat it is Immediately pre-
dcted that that also will ruin the crops oS SOU"
ing them. and too much rain or no ram a' al va.
likewise have injurious effects There Is "o use -.
arguing just about the crops being III 'io So
danger from the frost about the bugs having Zoo
enjoyment than reported for the bull movement 70
on and bear conditions real or imaginary VIII "o'
so traders say, affect II =,
The transactions on the Produce Exchange II,
wheat were exceedingly heavy yesteruaS ".u
at times the excitement was intense "ne" Wv
Indicator announced that ~ cents ia"
reached shout went up from the p" anu
cries OF 81 wheat" heard all over INC
room. The sales amounted TO SSoSo'V' p"s"e-'
July wheat opened yesterday at "'4 ana c'oSo
at 50 cents September wheat opened at "'s ana
closed at SOla cents. and December opened d.
7sl2 closing at S2s cents. July wheat on inc
curb was bid for N7s cents The hgures OF
the visible supply given out yesterday were
as follows: Decrease the Pacific coast '-i
600 bushels deGresse east OF sne aoa and in
Europe is24'co bushels anS ,,,o deGre"se u"
about cents since February and iCr tins tine
ISL; September siis; December. GAL. cents
1t is the opinion on the me, bIodu Istye SoIdnss
at s. cents and that he sr has Pr sse OTs se O all
fe nbep oes epecusors in chcago to have
underestimated the staying power Of the out
siders. who are now figuring to large extent
buying in wheat appears to hs aSm,n mo
thing while 1t is here. Yesterday the big move We,
other markets The prices Of stocks have been
adversely affected BY the reports Of damage lama ba 10
an early cold wave like the present one is not
certain factor 10 reckon on IN @ nSeeeed IL
in May and the price advanced is cents on the
SFOp Hed nereassd o Bushels over the
crop Of the year before IT is too early to make
it is encouraging to note that the most conserya;;
1a IN A
OF the terrible damage 10 crops by frost and
People who are crying 81 wheat" and are hold
ing, fast to their supply for that that figure will do
80 cents, If 1t should reach that point.
Chicago. Nav % (SpeciaD-wheat to-day ad-
vanced about cents over the Tuesday closing. II
showed almost cents advance over the low price
tuesdays break. July opened at 7412. sold betweet
74la and IN, nd closed at IN On the curb
The July price got to 70 cents on rumors that
local bear pl niger slow in getting up his mar
gins AS this operator has until morning to get
his money up, there certainty as TO his
exact position. There was however. a good deal
Of wheat covered for his account on the curb. II
day Of country buying again. with the mar
ket all the time under the impetus OF new crop
complaints. The advance at Liverpool almost PA
cents bushs added to the excitement The cash
sales. chiefly to millers. exceeded $4,000 bushels.
The whole West seemed bullsh. New-York kept
sending bear advices. but there no great
amount OF wheat offerings from any The
volume OF the business was phenomenal Charters
were reported for 10000 bushels. Seaboard clear
ances were small enough. less than 10000 bushels,
10 be a bear influence: but paid any at
tention to that kind OF news. Argentine advces
said exports would have 10 cease from there 10
leave requirements for the South American mill
The countryman was In his glory again, and
ne was In evidence everywhere. 1t is beginning
10 be a great strain on the commission man. There
have been failures so far but the advance has
been such 10 create some alarm.
Corn was up little to-day because wheat was
booming. July sold from 54i4 10 -, and closed at
54a. cents The crop reports were not unfavorabe
on corn. The weekly official bulletins declared the
replanting Receipts large 44S cars; the esti-
mate for tomorrow. 595 cars Charters were re-
ported for 1900 bushels The country is getting
over into corn: professionals, In spite OF its bear
surroundings are getting very timd.
acted about corn did: advanced about
a cent In sympathy The crop reports were better
than expected. the Official bulletins referring rather
lightly to the claims OF damage. The Inspection
was 2s7 cars the estimate for tomorrow 275
There was some country buying July sold be-
sympathy with the boom In the wheat market
put 30 cents pork. cents on lard and 2i2 cents
on ribs. About half OF this advance was retained
up TO the close There was some Increase in the
were 1900 hogs; the estimate for tomorrow was
IU hogs; receipts West were very large
on the curb the excitement was intense. the
price OF wheat advancing almost cents. There
was the widest sort OF range on privileges Puts
on July wheat closed al 49, calls at $50. cents
puts on July corn were 5iA; calls 5sis cents.
ANOTHER SHARP RISE IN COTTON
A pr1JIsI ACREAGE REPORT-HEAvY TRADING