New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-02-17
SHORTS IN MA Y
DESPITE WAR TALK THE WHEAT MAR
KET BOOMS
LETTER PUTTING THE SCREWS on THE BEARS
WHO ARE RELIEVED TO BE CALI

LETTER PUTTING THE SCREWS on THE BEARS.
WHO ARD BELIEVED TO BE CALI
FoRNIANs AND FOREIGNERS.
Chicago. Feb 16 (speclaD put on the
wheat screws to-day and the punishment OF the
shorts began. May advanced almost four cents ana
closed abou; the top There the exciting scenes
OF December over again. this time. however in The
May future II opened at 999i cents. sold between
so9. cents and 81 O$s and closed at 81 O5s. Before
the crowd was out of the pit the price was 81 o.
and tonight the curb May is 81 %. after
touching 81 os. The February price was one cent
over May, closing regularly at 81 ot 1t was
ted-up market. with the ordinary news OF no mo-
ment TO any one: margin calls were the thing
Spreaders VINO had wheat sold here and bought
In New-York were compelled 10 take their losses
because the ordinary spreader found the margin
calls hurt him. The Northwest, with sales mere
against cash wheat somewhere else. was covering
wheat as It could. The accepting or losses was
the rule The Letter party bought enough May
during the day to keep the other buyers hustling
but 1t did not have 10 do much buying to do that
There a general alarm among people VINO
had May wheat sold There were all the queer
signs incident to a corner May wheat nero was
almost four cents over May at New-fork inc
July price at one time almost 10 cents under
Nav AT the close this difference narrowed
up some. because Letter brokers at the close were
taking all the July Offering The difference at the
last was 1874 cents.
Il was remarkable that the wheat market doomed
In spite of the Cuban scare. 4 war between me
United States and Spain would create very uSths
situation for the man running wheat zeal buI
the shor. cared nothing about tae CUBAN lc9I-
backs to-day he wanted to get out. The routine
news entirely ignored. II was not partlcula ~
strong Liverpool closed = to I'D higher Paris
T %estern receipts we're about 90 per cent larger
man last 900 2 bushels r: at 5Tms5y R9 an
Duluth. against 1853; 80 cars here, against u last
Armour was buying all the contract wheat to
market There is no danger yet. however: OF any
cash wheat threatening the market ne p.t
theorv is that the bis short interest in May be-
longs ia foreigners and 10 California There are
100000 bushels Nay IN ms n'IIhe' 60 90 ~
against casA wheat bought AT one place or an
other July wheat on the curb so1a AT 81 cen, ma
one time showed little better advance May soId
from 3O,s 10 3l%s. and closed at 81 sqSIrs Ss..
6nsiness about 500 600 bushels being sold for eX.
mort via Baltimore one Baltimore concern WORKED
1Jo COZ bushels of corn in the last two days. LiS
bushels Receipts were 253 cars, with 20 est!i"aIsd
for Thursday The important long lines OF corn
are still intact May corn on the cufn was @'2
oats made new high record and then ea stsi
off some May touched 2.9@. but closed AT -
cents There was good export ouslhess-0v 81, ~
900 900 bushels sold from here. Receipts were hgnt
-l26 cars with 1870 estimated for Thursday. clsar;
ances were 515 600 bushels The bulls VINO started
this oats advance are still long.
Provisions were sold very freely to-day by PACK.
ers The Cudahys gave some support eafy' Spt
ris Hately and others Hogs were I'VE cents
lower with $1,000 received and SStVV estinliea ncl
tomorrow PORK lard and RIBS closed ~ 10 cents
'' on the curb puts on May wheat closed at
so calls lo puts on Nav 5vy corn S' w Sg'S Il
cents. calls BPS cents.