The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-01-06
WHEAT ADVANCES
NEARLY TWO CENTS.
keene. the Famous Wall Street OPP
orator, Reported Buying
the Cereal.
LIVELY SESSION At CHICAGO.
Corn Enjoys a Good Day, With
Speculation Strong and Firm
Prices Prevailing-The
Other Markets.
LIVELY SESSION AT CHICAGO.
REPUBLIC SPECIAL


Chicago. Ill, Jan. 5-wheat rose from its
nights rest with the vigor Of "a giant re-
freshed with wine" and made one ener-
setic leap to 7sac for the May delivery.
compared with T1kc at the close of the
previous days session. The stimulating rea-
sons for the strength SO quickly displayed
were not to be discovered In any sensational
feature Of the news received since the close
or the previous days session. unless # was
the open mention of the fact OF Jim"
keene having been a buyer on a considera-
HE scale for a few days back-a fact. IL 4.
is a fact-that had been passing around
for two days. carefully guarded with the
hand In its communication from mouths TO
ears.
Why the buying of a few million bushels
OF wheat by a Spectator like Keene. who.
successful as he is in stocks. showed on a
past occasion such an utter lack Of judy
ment and ignorance in connection with the
wheat situation. should be accepted now a.
an Invaluable guide. would be passing
strange. If IL were not for the circun-
Stances Of his being the recognized leader
In the present bull market in his own
special field Of speculation.
That was supposed to have given him
money TO burn" and there was impress
sion that while II was going into the fire
WI tAS VI 1Educ IneIG HOuiO De no
harm In the deserving poor tanding around
TO warm themselves at the blaze. There
were. OF course. numbers of local operators
who were convinced that wheat vas a DUR
chase quite independent Of any position for
or against the market that might be taken
by Keene or other amateur toyers with a
bristling proportion. They were not par
ticular as TO the personality of the leader
in the bull movement they considered to be
due. but quite willing to accept as their
Joshua any old commander who might
arse and call upon them TO follow him.
leader.
The highest prices were at the opening.
when May touched 1sAc. but from this point
ly on realizing by the longs. though here
was some selling for the short account. But
the bull interests were in control. and there
IL sold to 7sl9c. May sold at the opening at
7sizc to 7sAc. then down gradually to 7sAc.
up to Sic. and at n:8 that was the price.
hour mS @ Of Change nssa and MeH after dSsrns Selling line a at 7 shse
for May. at 76xG76Asc for JAN. eased of
before the close and finished at 76kc for
closed at 7s457ssc. or 1ac better than yes
terday.
The European markets were stronger, Liv-
erpool being I'D to I'd higher. while Ant.
receipts were again small. or $40 cars, COM
pared with 40 cars the same day last year.
81 primary I'm points gers asO;co Sg,:
le1. 900 bu.. as against 1900 for the same
day a year ago. C1earapces from the At
lantio seaports were $4,000 bu, wheat and
fou:.
Corn was strong. largely IN sympathy
with wheat. and n good business was Irans-
s acted s MaT SHe BeiSes al sh S7Ne ~ m5'ls Sc nuc snd
kept within that range up TO within a half
hour OF the close. rhe close yesterday was
at y''s som% dns Taae f 5aessd lndi akinr
a hand In II. House. with Eastern ccnnec-
tions led the buying. There was again q
H Teatsef. ho 1aex OF w sSsn .tiil feVonsbl. t fos
the movement. although milder temporal
lures prevailed ell through the West Local
primary receipts Tor the week were 4.os5.-
COZ bu., compared with 3.b12.o 900 bu. last year.
The market developed additional strength
n for the n. if Set.e aei in nS Wheat On and Nav SEu1t sold dps q,
3sizc and closed at 3ed3si=c. There were
only 81 cars in and none contract and 532
kets we're all up and cables were firm.
Spot at Liverpool was quoted steady to Nd
and futures I'D up. London was
slow, but exports were heavy at i.ist.Ooo
bu.. OF which 1900 bu. was via Baltimore.
Seaboard reported SO boatloads accepted.
ments $4,000 bu., Indicating a liberal ad-
dition to stocks here.
OATS.
Oats were active, excited and higher.
Prices advanced &c and closed at the top.
There was enormous trading at sc for
MAY. over 2,Oo0.0c0 bu- changing hands.
Heavy covering by shorts and buying by
the long interest took the offerings. Ele-
vatOr interests. receivers and longs did the
selling. The cash business has improved:
rocco bu. selling here to the seabOard the
past two days. and New York reported
3so.c coo bu. taken for export. Seaboard
c~learances were 11s,0Oo bu. Receipts. ~
cars. with go cars estimated for Monday.
Withdrawals. H.s56 bu- Car lots TO go to
store were &c a bu. higher. No. 4 sold at
2Lc; No. 4 white at 25ZT2essc; No. 9 at
&c. May oats active: sales were at 2416
z55sc and 25kc. Opened az 2i7s1Zc. sold to
2l2. T2i7sc to SIC at the close.