The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-19
THE EXCITED SHORTS
FORCED UP THE PRICE OF MAY
WHEAT ONE CENT AT CHICAGO.
PardrfdSe and other Big Bulls Re-
ported to He Not AIarned-Provi-
sions Finished at Declines.

CHICAGO. April 1S-Excited shorts.
scared by increasing exports and diminish
ing receipts, drove the price of May wheat
up 1c to-day. Corn followed reluctantly
gaining Ne; oats closed unchanged for May
and provisions finished with slight declines
Wheat started with convulsive jump to-
day. The first bids for May ran all the way
from 571kc TO 5Sc, with very little sale be-
low 575sc. as compared with 57Ac sellers at
the end of yesterdays session. For an hour
there was free realizing by the general
crowd of the longs and an equally wide
spread buying by scared shorts and some
other mysterious interest which took the
offerings at such times as the shorts would
withdraw to give the thing square chance
to drop. The price bumped on $3.50 more
than once and struck up against Sc
several occasions prior to IL O'Clock. Once,
near the noon hour, the fright of the shorts
became rather hysterical and they could
not get enough May wheat until they had
bid $3.50 for it. The figures of the days
movement were quite encouraging to hold
ers. Minneapolis and Duluth receipts were
ia cars, compared with 200 a. week. ago,
and 1S9 on the corresponding day of last
year Primary receipts, all told, were only
ISL, ia bu, compared with 216,o00 blu last year
in wheat and flour to 900 aou. The cables
were firm. Reports from the country were
of reduced acreage ana poor appearance or
winter wheat, and of restriction in the area
being sown to spring. In the local pit situ-
alton it was observed that Partridge was,
apparently, unmoved by the advance. The
trading of his brokers was not heavy and
consisted of moderate purchases of May
on soft spots and corresponding sales of
July on the bulgeS. He was called heavily
for margins by several houses and respond
ed with alacrity, margining May wheat up
to around 62c or CSC per Blu, it was said.
Closing cables were firm. The market closed
at 5s1s@5S14c for May.
Corn was very quiet and prices practf-
or SO of the session, but later the great
strength of the wheat market brought IN
buying orders and fluctuations after that
were over a much wider range Inc opening
were made at 451ac. 1t kept between those
prices the most of the first half hour, then
rose to Acc, dropped again to 451ac, advanced
to 45a4 @457sc, and closed there, after fuctu-
ating for a time between that and 455sc.
There was a good general business trans
acted in the market for oats The main
feature was the changing from May 10
June. The result was an advance or &c IN
the price of June, while May closed barely
steady and ruled easier principally. Armour
sold freely early in the session The nrm-
ness in wheat and corn governed the nue.
tuations in the more remote futures, all of
which ended at an advance. May sold from
2SIkm281lc to Use, up to 2Sasc and rested at
2SiIc: July started at 271sc, sold to 21ssc and
closed 4c higher at that price. - -.
Provisions were weak early on lower live
hog prices and looked as II going lower
than they did, had 1t not oeen Tor the Sus-
tanning influence of the wheat market.
demand for cash product existed and that
heavy sales had been effected, and ON that
the market closed with declines of l5c in
pork, .10c in lard and .0Il5c IN ribs.
Estimates for neat, IL cars;
corn, 2OS cars; oats, 1913 cars; hogs, $1,000
head.