St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-05-24
TOUCHED 81 CENTS
WHEAT CONTINUES IT'S Win
CLIMB TO THE DOLLAR
SUMMIT
A DAY OF WILD TRADINe.
CORROBORATION OF CROP DAM.
AGE REPORTS DOES THE
BUSINESS.
OATS TAKE ON a LITTLE sPURr.
Corn Quite Neglected, but HOIdc
Strength i'm Sympathy With
Wheat.

CHICAGO. May 23.-One of the
greatest crowds that has been seen for
many a day was packed into the gall
lerieS of the board. The visitors were
not disappointed, for a wild scene was
participated in. The bell rang and
its reverberations were drowned by
a roar in the pit that filled the great
room until 1T seemed that sound was
coming from every side of the apart
ment. The eyes of the visitors stood
out and every man and woman leaned
forward with gaze riveted on the
wheat pit, where the widest excite
ment prevailed. Bareheaded and
with perspiring, excited faces, the
crowd of traders pushed and strug-
gled in the tangled mass, surging back
and forth across the bottom of the
pit and UP on the steps like Gagged wild
beasts. The unframed ear could not
detect single intelligible sound, but
the bears heard all too plainly.
With foreign markets booming and
domestic crop damage reports grow
plunged wildly up and down Accent
range today, ending 11ac higher than
yesterday, at 7S%c for July. Corn
was comparatively neglected and ap-
parently upheld by wheat. 1t only
gained Ac. Oats rose 11sc per bu ON
crop damage. Provisions suffered
from too many hogs, and lost 10c each
in pork and lard, and 71Ac in ribs.
The opening in wheat was over
very wide range, and the scene in the
pit transcribed all recent efforts at
sensationalism. July, which closed
yesterday at TIC and sold as high as
7912c on the curb the same afternoon,
found hundreds clamorous for Ii at
the start at from soc up to S1Ac.
Trading was heavy at both prices at
Z the same instant in different parts Of
the crowd, and the result was that
two or three had to bid 81%c in that
isolated spot before they tempted any
one to sell. The extreme advance.
therefore, over the closing price of the
day before was 414c,. and that added
to yesterdays 35sc rise, made the gain
from Tuesday afternoon to the OPEN
ing this morning S1sc per bu. The
price
SURGED UP AND DOWN
for an hour anc u half, during all
which time brokers with buying or
selling orders took the wheat they had
orders to buy at the price it was Of
fered at or sold at what was being bid
without waiting a single instant for
a change, which might be from NC to
1ac per bushel against them. ]. c.
Schwartz, who has been a sensational
plunger in corn and wheat for a year,
failed to respond to margin calls made
upon him yesterday afternoon, and
did not pay his debit balance in the
clearing house. The buying In of
wheat which he was short by the
firms with whom he had trades caused
rise in July to S1Ac. from around
S05sc, where it had dropped to, after
the opening bulge and several other
minor but yet considerable fluctuations.
Before the excitement attending the
covering in of Schwartz's line of 5O0,-
coo bushels or so subsided the price
swelled to &c. The cause principally
ment and sensational advance today
was the corroboration of the worst
that was previously reported of the
damage to the crop. 1t is now almost
universally believed that the greatest
part of the great central area of the
wheat belt has suffered an amount of
damage from various causes, which
will make this years crop a very small
Il - %Iaf I1 7 frv1t O1I
market was excited, and from Sd to i'd
per Genital higher. which is the equiv
alent of about 31b or 41zc per bushel.
That advance, however, leaves the Liv
erpool price still about 10c below the
equivalent of the value here. Min
neapolis and Duluth received 163 cars,
compared with 21 cars a year ago.
Export clearances from the Atlantic
saaboard in wheat and -four together
did not amount to over 215.0O0 bushels,
1884, 900 bushels of which was in the form
of wheat. After the
BULGE TO SO CENTS.
the tendency was in the main down
ward. but there were numerous quick
nervous rallies as it slowly sagged in
however, it was knocked clean off its
stills, making tumble from around
81Ac to 78Ac, or a decline of about Sc
per bushel in the time named. 1t re-
covered nc to 7SAc, which was the
closing price. The corn market was
weighted down by heavy receipts-J69
cars today and $50 cars for tomorrow.
There was no shipping demand and the
terest In what was being characterized
as a dead deal. They went mostly into
wheat New York reported 10000
bushels of corn taken for export. The
opening prices for July were from 5514d
to 55$4c, and it sold almost Immediately
at SIC. After that 1t dropped gradually
to So. which was also it's closing price.
The market for oats was wild and ex-
cited at the opening. The only cause
for such, however, was the influence Of
wheat and corn. No independent
features were to be.found. A big busi-
ness was transacted nevertheless.
Commission houses consumed the
greatest amount but almost everybody
had orders to fill. The excitement was
not of very long duration. Toward
noon 6trade Stacked up and was COM
paratively quiet. July opened ssc
higher at 5OAc. sold from that price to
81 and closed at SO7sc.
Provisions suffered from ple-
thora of hogs. Today's run was
1900 and for tomorrow 5000 are ex-
pected. The weeks packing in the
West. according to the Cincinnati Price
Current, amounted TO sl5.OOO head. COM
pared with 260.O00 head or the cor
responding week of last year. The
market got some support during The
Il u.