The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-01-26
BIG BULGE In WHEAT
GAIN OF sc DURING THE WEEK,
RISING 4 1-2C SATURDAY.
Large Percentage of the Advance Due
to Armour's ManipulatiOn-CO' m,
Oats and Pork All Higher

CHICAGO, Jan. 25.-Trading in wheat to-
day was enormous. May wheat wound up
11sc higher than II was selling for at the
end of yesterdays session and about sc
higher than II was a week ago. That IL
was all due to Armour's manipulation was
the general opinion of the local crowd. The
other markets were strong in sympathy
with wheat. Corn Is up 11sc per bushel,
and oats are 1c higher. Pork gained z1kc
per barrel. lard 1Oc per hundred pounds
and ribs 1212c.
1t was day of high excitement through
out the wheat crowd. Quick, nervous
flashes OF impatience marked the varied
through the turmoil OF the pit in their
eagerneSs TO seize the key Of the enigma
II was sentiment apparently more than
the news which gave the market the big
bulge. Cables were only a trihe better,
the political situation abroad was more
from New York and only about Loo, 900
bushels In wheat and -four from both coasts.
And In addition to this Argentine was said
to have shipped $4,000 bushels during the
week, and private cables were received an
nouncing that the port of Odessa was
opened, and that wheat shipments would
soon be resumed. The Northwestern de-
liveries of 435 cars were larger than week
ago and the general primary deliveries also
liberal. But all this could not repress the
energy or the bulls, and there was much
wild buying. Every short soon got on the
run. and there was an excl..ng struggle to
cover, while there was hardly any for sale
prices. bat which they finally concluded to
pay. Right at the start there were sellers
at from 6324c down to 6Si2c,- but at the
lower of those prices the offerings were
confined to a few fives for which there
were twenty buyers for every one offered,
and after few preliminary plunges and
took shoot up to csc, reaching
these inside of the first forty minutes. The
fact that the exports from both coasts for
last week and another large decrease In the
visible Is expected exercised powerful In
fiuence In starting the boom. Brokers gen.
orally credited the changes TO Armour infiu-
ence and many withdrew to view the smoke
OF battle from quiet nook. But the bull
sentiment seems TO be In the air and needed
but little encouragement TO keep IL going.
On the bulge some OF the big buyers began
to hesitate. but the crowd had got in line
and the momentum still carried IL upward.
May opened &c lower. at 63a.c. sold at 63lzc,
up TO CSC. of to 64ssc, then up to 6o3sc, and
closed at 65Ssc.
Corn was fairly active, but all its strength
clearly came from sympathy with wheat.
May opened unchanged at 292lc, sold at
29ss@29Ac. and then toiled on with the rise
in wheat until IL got up 10 3lc just as the
market was closing.
very active market was reported for
oats The feeling was strong and prices
followed the fluctuations of wheat and corn,
closing a full cent higher. May opened
unchanged at 2O14c, sold up to &c and closed
at zlS4c Did. July ranged from DS4c sellers
TO 22G22isc. resting with sellers at 2d22sc.
Provisions were strong and fairly active.
and while there was a very light run OF
hogs. which of itself was suggestive of
higher prices, il took the excitement and
bulge in wheat TO give the shorts sufficient
force TO drive them. May pork opened 7lkc
up. at from $l0.721a TO $1O.75. dropped TO
1910 and then gradually worked TO $lO.95,
and closed at s10.9215 Lard for May rose
from 5.s5c to 6.Ooi.c, and was bringing the
top price at the close May ribs ranged
from 5.S2iz15.S5c TO 5.37lsc, closing at the
latter point
Estimates for Monday-wheat, % cars;
corn, $40 cars; oats. 30 ears: hogs, 5000
head