Kansas City journal. [volume] (Kansas City, Mo.) 1897-1928, 1897-12-10
HIGHEST FOR SIX YEARS.
DECEMBER WHEAT s1.OS, JANUARY
81 1-2c, MAY 81 3-Sc.
Reports of Bull Clique Operations
Caused n PAM in Spite of In
>, creased Northwest Receipts
Other Markets Higher.

Chicago. Dec. s.-Not since August, 1881.
has any months delivery of wheat sold as
high as December did to-day. 1t rose from
sl.0lE at the opening TO Sl.09. but in most
irregular fashion. 1t had many a sudden
backward slide, but in the end 1t rested at
sl.o7, or the not inconsiderable improve
nent of SIC for the day. January was a
good second, winding up with a gain of &c.
May was less demonstrative in its bullish-
less. Its advance was 1.sc a bushel. Other
grain and provision markets We're more or
less influenced by the advance in wheat.
Corn and oats closed &c higher each. and
provisions 5d1lfc higher.
Wheat was very nervous at the start.
Shorts were evidently alarmed by the an
nouncement that the bull clique had made
arrangements to ship by rail all the wheat
delivered them on December contracts, and
had also made advantageous storage con-
there was a host of buying orders for De
cember at the opening, mostly of moderate
lots, ii is true, but they had the same elect
on the already strained market as if they
were for millions. There was no wheat Tor
sale. December closed yesterday, at sl.OO4,
but opening bids to-day ranged all the way
from sl.0lilz to s10i, and even at the top
there was scarcely a bushel to be haG.
the shorts. not in December alone. but i'll
January and May also: Before wheat came
out s1.05 was offered for December. Then
Brokers operating for the bull clique at
tcInpted TO stem the tide, but probably from
600 600 to 100000 bushels was taken before a
si.O3Lz, but by Has had again risen to si.Oo.
Then came the storm. Within five minutes.
was bid to sl.OS. 1t reacted with a jerk 70
81 O6I., then up again without a stop to SLUG.
The highest point bid for bnoh wheat ,s IN m 1nib
wheat was sold on this advance as on the
earlier one. After that the market was
ar;eter. January shorts. in the meantime;
han not been idle. That month opened
strong at from SIC to &c. and II SOLD as
high as SIC during the excitement, an ad-
vance of Sic since yesterday. 1t was hs-
f,red that the influences controlling Decem-
her also applied to January. and shorts got
under cover as quickly as tney cG 81 aid m nay
have the same panicky appearance as the
IT OPENED at s1d91hc. as compared with
Yesterdays closing price of 90isa@ssc. and
had advanced by noon to S2ssasZ%4c. IL
the market at the opening had peer ieie
as usual. to take its imprint from those
things that usually affect II a decline
would. in all probability. have occurred,
The number OF cars receive y comn. red Cd
fore. Chicago got lbs. 900 bushels by lake;
besides 30 cars by rail: AS ;ndi IL Was t 4eaieI rei
cnints in the Northwest would from now
ON show a falling off, this showing was a
disappointment. But the wild antics OF the
December option caused the Northwest re-
ceipts to be entirely overlooked. Inc guar.
tity inspected out from here was I9o.Vo
bushels. Liverpool opened firm at an ad-
vance of ed, and closed only a shade high
err. although they must have known there
before the end OF the session OF Inc tars
The Continental markets We're very little
changed. The exports from Atlantic ports
were quite up to thei rei resen e1,, aiei in whheat
and flour to 633. 600 bushels. including ID
0O bushels of wheat from Galveston. he
norris Of rains interfering with the har-
yesfing of wheat in Argentine. and that the
exportabIe surplus would be reduced in
consequence, were one OF the items Oh the
received. had very little attention paid &c
IL. December. during the fnal hourS trad.
ing. moved irregularly between siUs and
S01. closing at that price. May. mad re-
acted to a2ss a92,kc at the close, while jan
uary wound up at @lsc.
Corn was dull but firm. the range being
,kSasc. The tone was due largely to tht
advance in wheat and better demand iol
December. which sold within 3isc of May
Wet weather west. was also n feature, n:
was the decrease in the country offerings
TIL market did not advance much during
the morning. but later In the day the per
sistcnt strength Of wheat drove shorts tt
cover. and the market ruled strong for thu
rest Of the session. Receipts were 33 cars
CIearances. 10000 bushels; May ranged iron
.s5sa2ac to 2SasM2si.c, and closed sc highel
Oats like corn. did not respond much a
2 first 20 the Jump in wheat, but when il di'
start the market became quite active ant
strong. The strength developed was par
ticularly prominent in December, and a
ono time that delivery sold at &c premium
over May. Shorts were active buyers OF
the upturr. The urgent cash demand. ais,
There was some realizing at the top. Re
CENTS were $50 cars. May ranged from 22ss
10 22sGeg4c. closing &c higher at 2ei5c.
Not much interest was manifested Il
provisions. the unsettled feeling in the grail
markets attracting the attention of opera
tors. The market in a general way exhibit
ed more strength and closing prices wer
higher. This was due entirely to sympath
with grain. as hog receipts were heavy, an
ward prices lower. The market was almos
at n standstill until after noon when mod
crate buying by shorts caused a slight ad
vance, At the close January pork was 5
higher. Mt IS 21i.: January lard. nc highe
at S4.3eIs. and January ribs &c higher q
Si-22;ac.
Estimated receipts for Friday: Whea
2Is cars; corn. i25 cars; oats, $50 cars; hog
5000.