The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1901-12-06
Chicago Board of Trade Was
Scene of Tremendous Buying
and Excitement Was at High
Pitch
SPECTATORS CROWDED
AVAILABLE SPACE
Enormous Profit Taking Cut
Down Many of the Gains -
News in Itself Was Not of Ma
ture to Account Fully for Such
Heavy Trading

Chicago Dec. Bull enthusiasm, the
heaviest transactions in over a year in
all pits, record prices in grains and heavy
profits for the fortune sellers-these were
the characteristic features of business on
the Board of Trade today.
The craze for much buying, which be-
gan to show itself yesterday, was present
again at the opening, and was augmented
on every hand as the session advanced.
The pits, the floor and the galleries of the
board were crowded with spectators and
Spectators, largely visiting stockmen, all
eagerly trading.
Advances in wheat were Ia, in corn ia
and in oats IA. Profit taking on an
enormous scale, however, took much of
the strength from the markets, and De-
cember wheat closed only Aq$s up. May
wheat Is up, December corn %@s higher,
May corn 9sQA higher and May oats ia
% advanced. Provisions closed 1112Q25
up.
Wheat, as yesterday, seemed to be in
most demand, though it held poorly. A
general bull movement, almost regardless
of the usual influencing conditions,
seemed to control transactions. The
country side seemed to have arisen as
one man and rushed to this market to
buy. Not since the present bull cam
paign began have brokerage and COM
mission people been pressed to handle
speculative orders as they were today.
No man or firm was big enough in the
perfect perfect storm Of business to be prom
inent' in the pit Offerings, which were
very liberal at the very start, were alb
sorbed as so much water in a sponge.
News in itself was not very bullish.
Gables showed very little response to
yesterdays feeling here. Local and
northwestern receipts were small and
showed a gradual decrease, but primary
receipts were rather liberal and clear
ances were not large. Outside markets,
however, did show big increase. Prices
for all options were well advanced at the
opening, and in the Whirl of trade ire
mendous profit taking by big manipula-
tors was disregarded until there was such
a volume of it that it could no longer be
neglected. Business was estimated to be
high up in millions of bushels. Grad
ually the decline came, and with it some
slight hull in trade.
December opened 1s@A to, ssd15 higher
at 7512 to 1874, sold up to 7613G3s, sagged
off to 751a and closed firm, 1zq2sc. up, at
1875. May opened y to 12c. higher at
1855 to so, advanced to the record price
for the crop. SO5s, sank back to 1872, and,
reacting slightly, closed firm, Sc up, at
1855. Seaboard clearances in wheat and
flour equalled $4,000 bushels.
Natural conditions backed up by the
strong bullish speculation, held corn up.
Gables were strong, the cash demand was
lively and the country at large wanted
the cereal badly. Outside markets are
constantly buying corn at prices consid-
erably above this market, and prominent
traders hold that, inasmuch as Chicago
holds the big majority of old corn stocks.
the country must come to this market to
buy. And buy they did today. AS in
wheat, buying orders came in on all
sides and sent prices up to new record
prices. The general range was nearly
one cent over yesterday, and the bigger
part of this was firmly held. In this pit
also big realizing for profits was under
way, but the effect was hardly apparent.
December opened 1q1B to 34d7s up at
649s to 649s sold to 65, sagged back and
closed firm, &d7s up.
May started in spurts, Il to sc. higher,
at 65h to g. sold to 6S1a, reacted and
closed still strong, 9sq&c. up, at 675sd&.
The early trade in oats was heavy, with
a very active demand on the part of COM
mission houses. Shippers also bought
freely and frightened shorts rushed to
cover. Acceptances were small, the ship
ping demand fair, the cash situation still
strong. A great deal of realizing for good
profits by prominent longs depressed
prices toward the close. May opened
higher at 4514 to 451R, advanced to 46A, a
new record price, reacted and closed
firm, 1ad5s up, at 455s.
Provisions ruled firm all day, aided by
light receipts of hogs the strength in
grains and good country buying orders.
As in other pits, realizing for profits
brought an easier feeling, but the close
was strong. January pork closed 2215 up
at 1850, January lard % cents higher at
9.75 and January ribs 1714 up at $50.