The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-12-06
Commission Houses Swampcd with
Business, the Trading Aggregating
Many Millions of Bushels.
HEAVY PRESSURE TO REALIZE
DISREGARDED UNTIL A LITTLE BE-
FORE THE MARKETS CLOSE.
Final Prices Strong at Reactions
Wheat Holds Least of AII-DOm-
inant Position of Corn.

CHICAGO, Dec. 5.-Booming bull en-
thusiasm, the heaviest transactions in over
year in all pits. record prices in grains
and heavy profits for the fortunate sellers
these were the characteristic features of
business on the Board of Trade to-day
The craze for much buying which began to
show itself yesterday was present again al
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 specula-
tors. largely visiting stock men, all eagerly
trading. Advances in wheat were 1kc, in
corn 1lsc and in oats He Profit taking
on an enormous scale, however, took much
Of the strength from the markets and De-
cember wheat closed only A@9sc up. May
wheat sc up, December corn 3sq$4c higher,
and oats 1kc advanced. Provisions closed
1715c to 25c up.
Wheat, 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-day. Not since the
present bull campaign began have broker
to handle speculative orders as they have
to-day. Offerings, which were very liberal
at the very start, were absorbed as so much
water In sponge. 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
clearanceS were not large. Outside markets,
however, did show big increase. Prices
for all options were we'll advanced at the
opening and in the whirl of trade tremen-
was disregarded until there was such
volume of 1t that 1t could no longer be
neglected. Business was estimated to be
high up into millions of bushels. Gradually
the decline came and with it some slight
lull in trade. December opened 1sdLc to
ssQ1kc higher at 75lzc to 7524c, sold up to
1612q769sc, sagged off to 7519c and closed
firm, 14q9sc up, at 75ssc. May opened 1sc to
19c higher at 1850 to soc, advanced to the
record price for the crop, S05sc, sank back
TO 79l9c and reacting slightly, closed firm
none of contract grade; Minneapolis and
Duluth reported 701 cars, total of 739
against 69S last year Primary receipts
were 1,068O00 bu, compared with 6SS, 900
last year Seaboard clearances in wheat
and flour equaled $4,000 blu.
Natural conditions, backed up by the
strong buhish speculation, held corn
well up and the best advanced of
any of the pits. Cables were strong
the cash demand was lively and
the country at large wanted the cereal bad
corn at prices considerably above this
market and prominent traders held that
inasmuch as Chicago holds the big ma
jority Of old corn stocks the country must
come to this market to buy. And buy it
did to-day. AS in wheat, buying orders
came in on all sides and sent prices UP to
new records. The general range was near
ly 1c over yesterday and the bigger part
Of this was firmly held. In this pit also big
realizing for profits was under way and
the effect was hardly apparent. December
opened 1Q11sc to &4Q7sc up at 645sc to 642sc
sold to 65c, sagged back and closed firm
%@7sc up, at 6414c. May started in spurts,
Ac to 1c higher, at 67Ac to Csc, sold to
6S15c, reacted and closed strong, 5sq$4c up,
at 67%967%c. Receipts were Ill cars.
The early trade in oats was heavy, with
a very active demand by commission
houses Shippers also bought freely and
frightened shorts rushed to cover. Accep-
tances were small, the shipping 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 L6%c higher at
45AQ4515c, advanced TO 46Ac, a new record
price, reacted and closed firm, 1245sc up,
at 459sc. Receipts were 107 cars.
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 brought an easier feel
ing, but the close was strong. January
pork closed 221ac up at $780, lard 25c higher
az 1915 and ribs 1712c up at $3.50.
Estimated receipts for tomorrow: Wheat,
40 cars; corn, 100 cars; oats, 205 cars; hogs,
10000 head