The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-03-16
RATIFIED SHORTS
CREATED EXCITEMENT.
THERE WAS \ RUNAWAY
MARKET IN WHEAT.
All Grains Were Stronger and
Closed With Good Gains
Trading Heavy.

In The grain markets there was more ex'
element shown than has been witnessed ioi
many a month. and one OF the widest clos
incs In wheat took place that has ever beer
eoualcd on the floor Of the Merchants En-
change. All the markets exhibited n good
strong undertone RICH; from the outset and
worked up from a steady opening 10 a mitch
higher level Of values. the close OF every
one of them being right at the top. with d
strong hullish feeling prevailing. Wheat led
In respect 10 strength, and gains In price
closing lc 10 lIsc higher for the day. Corn
was 4 fairly good second. with an in
provernent OF i.17sc 10 &c, and oats closed
&c better. Interest IN the different mar
kets carly was seemingly slight consider
ing the strength shown. but later II became
more conspicuous. especially just before the
gong announced the hour for Closing. As
usual. there Was little public interest taken.
the trading being wholly OF a professional
character, and ii was entirely due to their
efforts that the market made the grand
stand finish that it did.
There have been days OF excitement on
The floor OF the Merchants Exchange. but
none equal TO the wiud-up Of the wheat
market yesterday. The market started OF
quietly, but with an appearance OF strength
NAT was very encouraging TO those friendly
to higher prices, but il gave 20 indications
Of what was to occur later. No great
strides We're made toward a betterment IN
prices, though they held up strong, ana II
was evident that the market was IN a de-
cidedly strong position. The ieeAIs grew
more and more buliisa Us the day aaNanceu
and the conditions improved. tflGeS re-
sponded freely ana before noon had maze
soma extremely good gains. tof some
time after this there was little TO the sltl-
alton, and traaiilS 4ettlng up. p-'ess 49, ~
ST slightly Inc last MIL huuF MAS Nic
strongest. ana further gains were ihaue,
while she closing IKE minutes We're iaS
wilGes that ever nave seen Witnessed. >"
excited were traders, and especially shorts,
who were ANXIOUS 20 get Uui. tnat no AZ
tention was paid 10 the time. ana l.aH.As
was carried over the regular closing nSNt
ard the market closed III u blaze OF SioIs
ana fully sc higher than me edtlief TOP
prices. while the gains for the day were
from lc to l3aSc-
The general run Of ndyices was largely ia
vorable TO the bull SIDE yesterday. Ianlts
we're stronger and Liverpool, after opening
Ld of, turned 2nd advanced 81 10 me sur
prise of the crowd. Argentine shlptlSlits
were less than those OF !ist year anu 20,
nestle receipts Were Smaller than -oI some
time past, and another decrease woS re-
ported iE the stocks here. Later auNicsS
were still more bulliSh. Liverpool iS.N 10
It's advance, Paris was pp i4s4c, belIIl
&c ana Antwerp and B~ud4-Pest1 uh-
charged. Private cables We're Ill petisE, Win
GOOD acceptanceS OF HOUR uLu NAS't <
sorted, an improved cash demand ana lafse
.learances OF 5000 bu. The opening mere
was 1sui4c higher Tor May at S2Htsc, sAa
Iuiy at i2L2c. The buying was Zee. ana d
still further advance WIS made; May besore
noon selling at .4Ac, while July bfOuEA-
'211c to Use. The bulge just at the else
was due TO the strength SHOWN n otiSE
domestic markets and abroad. when 50
frightened shorts tnut i'll ine.r cIoitS 70
get oct they rushed The market mp neatIE
nc and closed II right slap uaHS al ne
:op fer the day, May closing with sellers
It 7itsc and July with sellers Al .5i.Gfsc.
n corn as there was in wheat nor was
here SO much strength, though the 81 .ua-
jon all the way through was e~ncoutasins-
y strong and b-l!ish ana new hlSa-p'-ce
records were made. The buNing side sas
favored most of the time. and esp-ciAly
early, and the market opened strols a5d
t-l6c better at 39ssd~4c tor Nay, anu July
at 40lsc. Arrivals were small. and on ac-
count of the unsettled weather there was
the country movement in the near future.
These conditions, with the tact that Liver
pool was I'D higher, were sufficient TO open
lull took place in wheat, JEST before the
tlare-up at the close. this market easei of
? little. and May went 10 SJi=9asc, and Juy
had a seller at 393sc. but there was a quick
reaction to 395sc and 4ohsc, respectively.
The export clearances Ter the day were
altion OF wheat at the wind-up of the ses-
sion gave added strength to this market.
but created no such excitement as was wit
nessee in the higher-prlced cereal. Prices
however. and the close was right
1T the top at 3s1sGt0c bid for Nay and 402sc
nominal for the July option:
So much was the attention of traders
up with wheat and corn that they
had but little time to spare for cats. and
during most of the time that market was
quiet. A firm tone prevailed during the day,
and. although trading was on a small scale.
here was a very good Improvement In val
hes md NAV closed AT he Inn AZ gfc INV
Frs, and July was nominal at 2is4c.
raider Gossip.
Tho Argentine wheat visible is 4.1s4 900 hi. n
decrease for week OF 1000 hu. and 1.sgC.o 0J bu.
,ss sU bu than Corn q year S,s fSe: IS s2at 5s f ba., ss,i Msi
a2. go blu. a week ago. and $4,000 bu a year
lgo.
-Ths Argentine markets are steady. with mod
nate export demand. Arrivals fair from tie
Interior and quality satisfactory. Corn markets
Asy. almost no export demand ard no arrivals. :
Among the explanations given why grain has
.dyanced IN the Liverpool market Is tits. that
rain had a bullish effect. Bu, Why should ,aii93't his
Liverpool and the Continent to buying IN
1t is reported that OF the wheat delivered On j
March contracts in Liverpool IS per cent was I
Chicago wired: There we're EXPORT sale. @,
(. 600 Blu. No. ! Northern to LIVERPOOL over night. I
say Liverpool now on a shipping basis"
trc1 9Th is partly on talk Of a war import tax !
rowing Thsat out af q e the I Ri Russian ehTa'y aa Si jspahese f attIs !
ude and partly on better buying. !
The Modern Miller O~utlook-The crop s,tua- I
lon Il much the same as for several weeks =
'ast; that is. uncertain; Scattered reports of =
q ni &c by freezing and thawing weather are a
Z S% injsry 70 by SaI Hessi a f aHeFe Most . Hi of tbs IL i iasor Inik s
Ion. however. Is based more on conjecture than y
n facts; as the plant practically IS ,stiil in
ONE. the foreign as well as domestic demand :
ell g improved. l
Wheat reeeipts at primary markets SOS. oo t
ear ago. and 5l2.e bu. two years ago. Al ST. i
outs. $3.50 bu. received. against $500 bu. a a
seek ago nd 100 bu. a year ago. Primary
Primary corn receipts $1,000 bu.. against 9,
l6.g1 bu. a yeerSago, including 1900 5u. at !,
Z; Louis against $1,000 bu. last year. Primary c
Urinary oats receipts s52 90 hu. aGuins. e
;'.gN bn. one year ago, Sl.2oo bu. arriving at
425.e00 bu.
Cash Grain, Flour, Etc. 3
wHEAT-Cash Market-Receiyed s7a sts .,a /
cars local. Higher and firm. with a better I
milling demand for samples. choice selling s
e to be had. and for choice Turkey miiiars :,
y sample Gel. sold at 74sEo this aaa ~ s.h' : !
dc; No. ? red at 7iitc for poor, 7ao sor ordinary.
cry low to tic for choice Spring sold NJ csa.Ss
.te fr red and sTa6sc for white. From store 1
SoRN&ca.h REQ sGiS fF ssip9sn :, c.r, ,o.,, 4
r riSs;ns o0 sn ssEs, white s,l and yellow readily to
., ! sold delivered eieyatcf a, sac and V!Ny e 3.
w ss saia > Il Zoe: * No. s'a 3 whit: No and S sed J No Whit Z ysl, Il
nc From elevator No. 3 white or better sold y
oATsLcasb Market-Rece,v.d 10 car, ,oc., n
20 laed, s snrf /. ' s g si.v. ss,on DsS,,s and a. better for y
Sr Nh q fat IN .. -