The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-12-08
WHEAT SCORES ALMOST
THREE CENTS ADVANCE.
P~.ANDEMONlTM IN THE CHI
GAGO GRAIN PITS.
Bullish Enthusiasm Greatest in
Several Years. With All Lines
Making and Holding Gains.

Chicago. Dee. I.-Pandemonium broke
loose in grains to-day. and with an en-
thrsiasm that has seldom. if ever. been
equaled. bulls carried everything before
them. 1t was a wild day in the pits. with
wheat IN the lead. and. as on other recent
buiges. an incessant stream Of buying or
ders from the country brought the advance.
Wheat jumped Sd3isc. corn He and oats
lac. December wheat closed 2as12l.c up.
May wheat 2a.c up. Dec. corn tsc higher,
May corn lie higher and May oats 1ssc up.
provisions closed 2i:c to l5al1I.c higher.
Wheat.
Wheat easily led al! other pits. and set
such a rapid pace that 1t was a difficult,
task to follow. As has been the fashion for
several days past. the pit opened with a
jump. and disregarded the usual governing
factors. Bullish enthusiasm did every
thing. The country was crying for huge
quantities. and it was a case of buy. buy.
buy. Such Il market was d great tempta-
ton to holders of long wheat. and soon 4
Hood of IT poured In from severa! sources:
a half bushels ON the market. and it had
practically no appreciable effect. Where
several large sellers were making fat prof
all offerings with avidity. Commission
houses had orders that demonstrated that
the public was bigger than the professional.
The regular trade was of the opinion yes
terday that the bull campaign was at an
end, and that prices would slump in =
panicky market.
Tips have been going out to sell every
thing But to-day's business showed the
effort was wasted. Besides the country
man. the capitalist was getting into the
trade And. added 10 these very strong bull
regiments came the news of strength at
Liverpool and in the English country mar
kets. Receipts: especially Northwestern.
We're falling on. The weather was unset
corresponding strength. Dec. wheat opened
-.a;sc to 1isa1i4c higher at 76a.a77tsc. easad
"f to Is'sc on the heavy proft.taking. but
and closed very strong. 2sd2i.c higher AT
sac. May opened gale to ii4dla.c higher
at so'sasll4c. sasged To- sossc. but near the
last moment of trade ran eNcitedly up 20
sbc. establishing a new crop record. The
close was very strong. 2a.c higher at S2s-f,
s2ac- Local receipts were ~ ears, one o.
Corn wa. inclined 10 be fully sympathetic
with wheat. Country offerings have In
creased somewhat the last few days on the
Zig advances. and the inclination to-day
was for further proft-taking. which it is
thought would hav. had a markedly de-
pressing effect had wheat rot taken mat
,ers in hand Trade WaS smaller than in
wheat. but cables were higher and offerings
temporarily held off because of the wheat
demand. house did a fair
business on both sides Of the market after
the opening rush. and the wheat squirt at
the end mainly brought The reaction from
the sag attendant upon the proht-takina.
Dec. opencri '."lc TO !isc up al 81. q.sa-c.
eas.d OF 10 GiSsc and closed strong. sc
higher. at ii'sc. May opened &c To i,
higher at sSi4HSs%4c. sold down TO sSIsc and
then literally jumped to &c. a new record
price. WHERE. il closed very strong. Nc ,ip.
Receipts were 136 cars.
There was a good all-arOund trade IN oats
a. the op.iiis. with prices well advanced
TN good buying. both local and outside. 4
scarcity of offerings, and on In.
wheat strength. Commission houses still
s.:e filling country buyin, orders. ard
prices advanced steadily in tn. face of
Irofi;-takins. MAY opened strong. &c to lie
higher at i6di6:ac. never got below the
lcwer opening price. and Iilte in the session
al 4Ga-c. Receipts w.r. is cars.