The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1896-10-19
TODAY'S MARKET REPORT.
Furnished by the Associated Press to
the State Journal

Furnished by the Associated Press to
the State Journal.
Chicago, oct. 10.
WHEAT-Made record breaking
jump today. The December option
which closed Saturday at 755se. opened
this morning at 78150791sc, steadying
with the latter figure, an advance of
3Ac The widest excitement charac-
terized the trading. There was talk of
possible failures as a result of the un-
parallel advance, after a momentary
reaction to 79c. Dec. wheat soon went
beyond the top figures at the opening
touching as high as 791lc several times
within the first fifteen minutes Of bust
ness Just before 10 a. m, the market
took a sudden plunge downward and fell
to T81zc, reacting later to 78Ac-
Shortly after 10 o'clock. the price re-
coded to 78Ac, but at that point the
market whirled sharply upward again
and within a few minutes advanced a
fun cent to 79Ac. During the frenzy
at the opening, some few traders were
made as high as 1890, while sales at
the same moment in other parts of the
pit We're at different figures, ranging
all the way to 7S18c-
About 1870 the price was 7S9zc for
December. At this point another lie
advance was recorded with amazing
could place the figures on the tape in
the brokers' offices the quotation had
leaped to 1880. This was within 1sc of
4 cents a bushel added to the value Of
the cereal within a single hour.
Before IL o'clock the pit Witnessed a
notable example of whip-saw- From
79s4c the market fell as rapidly as it
had risen, dropping a cent almost in
straight line to 1880. Scattering sales
at "a 1eA
ket once more rebounded, the ruling
price at IL a. m. being 79c for Deem
Der
The advance today was due to the
Liverpool cables, which reported that
market excited and from 31z q Sd higher,
equivalent to an advance of 4 to Sc. No
such jump has been experienced in that
market for years. In the first half hour
crazed rush to cover here. most Of the
trading early was done around 79e.
Tremendous lines were dumped on the
market at about that figure. All the
news was not bullish by any means.
Northwest receipts were heavy, 1912
cars against 1887 last year, and unoffi-
cial worlds shipments were liberal
The cables, however, We're the prOmi-
nent influence and the trading was
enormous with fluctuations violent and
frequent.
p
a gradual relapse from 79c. December
slumped to 7794c-
In the next half hour it was again
ascending and reached 1850, but during
the succeeding fifteen minutes it re
turned to the down grade and at
o'clock fifteen minutes before
the close was quoted at 77slc. The de-
cline continued during the final quarter
Of an hour. Just before the bell struck
December was 771c and the last quo
tation for the day was 1859 bid, I5zc
higher than the close on Saturday. The
excitement in the pit was great and the
trade too active to permit of intelligi-
bic understanding OF the personnel of
the trade. But in a general way floor
traders realized John Cudahy sold
big line through traders Logan and S.
Dupee were heavy sellers, to such an
extest as to cause one of the frequent
and violent breaks which characterized
the trading. Baldwin also sold early
as did Bartlett. On the other hand Ar
mour was a buyer Milmine, Bodman
& Co.. and Schwarts, Dupee and COM
pany took in large lines. Nlcol bought
about 250,O00 bushels at 79c. A big sur
prise was occasioned by the Indian
shipments of 1900 bushels. This was
totally unexpected and seemed to in
dictate that the seriousness of the In-
dian situation had been exaggerated
There was a lot of selling done on il
and it was with this as a reason that
the price of December sagged to INC,
during the last hours business Liv-
erpool was not the only foreign market
to advance. Paris reported jump
equivalent to 30sc per bushel The
Berlin advance equalled 4-5c and
Antwerp 5010c per bushel
CORN-Opened strong though trade
suffered from the wheat excitement.
Receipts were large. but were offset by
strong cables and sympathy with
wheat. May opened about cent
higher at 3O1a030ac, advanced to Sic
and reacted to 301sc.
OATS-Were fairly active and firm
with other grains. May opened about
1kc higher at 221zc advanced to 2Sc and
reacted to 221zc.
PROVISIONS-Op excited and
moderately higher but heavy realizing
and selling by packers caused reac-
ton January pork opened 25c higher
at 1885 and declined to SS.1712. Janu-
airy lard opened about 15c higher at
81. 10 and declined to S465. January
ribs opened about loo higher at $40
and declined to s4.O71a.
Chicago Livestock Market
Chicago, Oct 10.