The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-12-08
Advance of 3 and 3 is Cents I'm the
Absorbed without n Ripple.
CORN ALSO ON A BIG BULGE
PRICE FOR THE COARSE CEREAL UP
WELL OVER A CENT.
Oats at n New High Record with
Nearly Two Cents Gain-PrOvisions
Up but a Small Amount.

CHICAGO, Dec. 7-Pandemonium broke
loose in grains to-day, and with an enthu-
siasm that seldom, If ever, has been
e~qualed, bulls carried everything before
them. 1t was a wild day in the pits, with
wheat in the lead, and, as on other recent
bulges, an incessant stream Of buying or
ders from the country brought the ad-
vance. Wheat jumped 3Q3sc, corn lac and
oats 17sc. December wheat closed 22sQ212c
up, May 234c up. December corn sc higher,
May 1Ac higher and May oats 1850 UP. Pro-
visions closed PIC to 15Q171kc higher.
Wheat easily lead all other pits n set
such a rapid pace that it was a difficult
task to follow. AS has been the fashion for
several days past, the pit opened with a
jump and d~isregarded the usual governing
factors. Bullish enthusiasm did everything.
The country was crying for huge quanti-
ties and it was a case Of buy, buy, buy.
Such a market was a great temptation to
holders of long wheat, and soon a food Of
it poured in from several sources. One
prominent broker threw a million and a
half bushels on the market and it had prac-
tically no appreciate effect. Where sew
eral large sellers were making large profits
there were as many Others taking in all Of
ferings with avidity. Commission houses
had orders that demonstrated that the pub
lie was bigger than the professional.
The regular trade was of the opinion that
the bull campaign was at an end and that
prices would slump in a panicky market.
Tips have been going out to sell everything.
But to-day's business showed the effort was
wasted. Besides the countryman, the CAPT
talist was getting into the trade. And,
added to these very strong arguments,
came the news of strength at Liverpool
and in the English country markets. Re
ceipts. especially Northwestern, were fall
ing off. The weather was unsettled and all
outside markets were showing correspond
ing strength. December wheat opened 80
sc to 1sg1Ac higher, at 76&4H1sc, eased
Off to 769sc on the heavy profit taking, but
in the last hour of business sailed upward
and closed very strong, 2$s4212c higher, at
7S$sc. May opened Sal to 1AG1%c higher,
at SO7sc TO size, sagged to SO3sc, but near
the last moment Of trade ran eXcitedly up
TO SIC, establishing a new crop record. The
close was very strong, 2Ac higher, at $3.50
sac. Local receipts We're tifty-fOur cars,
one Of contract grade. Minneapolis and
Duluth reported 200 cars, a total of 754,
against LOIS last week and $50 a year ago.
Primary receipts were $4,000 bu, compared
with $50, 600 bu last year. Seaboard clear
anceS in wheat n lOur eQualled 292,00 0 bu.
Australian shipments We're 1900 bu,
against 100000 bu the week preceding.
Corn was inclined to be fully sympa-
thetic with wheat. Country offerings have
increased somewhat the last few days on
the big advances and the inclination to-day
was for further profit taking, which it is
thought would have had a markedly de-
pressing effect had not wheat taken mat
ters in Trade was smaller than in
wheat, but cables were higher and offerings
temporarily held off because of the wheat
demand Commission houses 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 profit taking. De-
cember opened sc to 1d1Bc UP, at 65k0
653sc, eased off TO 64%c and closed strong,
%c higher at 643sc. May opened PC to 1c
higher, at 6SH06S4c, sold down 10 681sc and
then literally jumped to 69c, the new record
price, where it closed very strong, nc up.
Receipts were 136 cars.
There was a good all-around trade in oats
at the opening, with prices we'll advanced
on good buying, both local and outside, a
temporary scarcity of offerings and on the
wheat strength. Commission houses were
filing country buying orders and prices ad-
vanoed steadily in the face Of profit taking.
May opened strong, Ac TO 1c higher, at Acc
to 1880, never got below the lower opening
price and late in the session struck 475kc.
1t closed very strong, 14sc UP at ALSO. Re
ceipts were 1SS cars.
Provisions inclined toward dullness early
and prices were slightly dow on a weaker
hog market Receipts were liberal and
there was a good deal Of early selling. On
the strength in grains, however, and a re-
vival of country buying prices reacted
smartly and closed strong. January pork
closed 15q17lac up, at $16.S5; lard 21kc higher,
at $3.50. and ribs sc higher. at $3.50.
receipts for Monday-Wheat, 6
cars; corn, 10; oats, 10; hogs, $1,000 head.
Tn0IfnO Futures RANGED nc fOT1nUC-