Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1896-10-22

day at 75RW79t5c, SteadyiDg at the
latter figure, an advance of 3Ac. The
widest excitement characterized the
trading. There was talk of posi- Bile
failures as a result Of the unparalleled
advance. After a momentary reac-
ton to 79c, December wheat soon went
beyond the top figures of the opening,
touching as high as 1910 several
times within the first fifteen minutes
of business. Just before 10 O'Clock
the market took sudden plunge
downward and fell to 781ac, reacting
later to 1870.
Shortly after 10 a. N. the price
reached 1914 cents, but at that point
the market Whirled sharply upward
again and within a few minutes ad-
yanced full cent to 79A cents. Dur
ing the frenzy at the opening some few
trades were made as high as 1914 cents,
while sales at the same moment in
other parts of the pit were at different
figures, ranging Ill the way to 1872
cents.
At 1870 d. m. the price was 1874
cents for December. At this point an
other 1-Cent-a-0ushel advance was
recorded with amazing rapidity. Al
most before the tickers could place the
figures on the tape in the brokers' Of
fees the quotation had leaped to 1874
cents.
Before il o'clock the pit witnessed a
notable example of Whipsaw. From
1874 ,44e market fell as rapidly as it
had risen, dropping cent almost in a
straight line to 1874 cents Scattering
sales were made at 1875 cents and then
Ghe market once more rebounded, the
ruling price at II a. M. being 70 cents
for December
Between II and 1915 o'clock there
was a gradual relapse. From 79c
December slumped to THO. In the
next half hour it was again ascending
the ladder and reached 1880, but dur
ing the succeeding fifteen minutes it
returned to the down grade and at
p. M, fifteen minutes before the close
was quoted at 77Ao. The decline con-
tinued during the final quarter of an
hour Just before the bell struck De-
cember was TIC and the last quota
ton for the day was 773sc bid 11ac
higher than the close or Saturday.
The excitement in the pit was too
great and the trade too active to per-
nit any ineligible understanding of
the persons trading, but in a general
way floor traders realized. John Cudahy
sold big line through traders. Lo-
gan and S. Dupec were heavy sellers, to
such an extent, in fact as to cause one
of the frequent and violent breaks
which characterized the trading.
Baldwin also sold carly.
On the other hand, Armour was a
buyer, Milmine, Bodman & Co., and
Schwartz, Dupee G. Co., took in large
lines. Nicol bought about 1000
bushels at 79c.
The advance was due to the Liver
pool cables, which reported that mar
ket excited and from 81 to sd higher,
equivalent to an advance of to s
cents. No such jump has been expert
enced in that market for years. Most
of the trading early was done around
70 cents. Tremendous lines were
dumped on the market at about that
figure. All the news was not bullish
by any means. Northwestern receipts
were heavy, 1,642 cars against 1887
last year, and unofficial worlds ship
ment reports were liberal. The cables,
however, were the prominent influence
and trading was enormous, with fluctu-
ations violent and frequent.
A big surprise was OccaSioned by
the Indian shipments of $4,000 bushels.
This was totally unexpected and
semed to indicate that the seriousness
OF the Indian situation has been exag-
gerated. There was lot Of selling
done on it and it was with this as a
reason that the price of December
sagged to TIE during the last hour of
business. Liverpool was not the only
foreign market to advance. Paris
reported a jump equivalent to 3@Sc
per bushel. The Berlin advance
equaled 4-5c and Antwerp 501Oc per
buShel
New York, Oct. 20.-Wheat made a
perpendicular advance of 41bc. a
bushel, following stupendous jump of
cents at Liverpool and general spec
ulatiVe excitement throughout the
whole of Europe. The bull movement
was accompanied by intense local ex-
cltement and heavy trading during the
first few minutes. Buyers order, of
course, predominated. Even the bulls
were amazed at the size of the ad-
vance, which mas not been eQualled in
years. The December option, which
closed Saturday at sac, opened yes
terday at S57sc, and before the de-
mand could be appeased had jumped
TO S612c. Following this came cent
reaction, with 2 let-up in the trading.
Corn and oats shared wheat's advance,
both scoring sharp rises over Saturday