The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-12-08
EXCITEMENT IN
THE WHEAT PIT
Was Wild Day on Chicago Board
of Trade.
CORN AND OATS ARE ACTIVE
BULLS SUCCEED IN CARRYING
EVERYTHING BEFORE THEM.
CORN AND OATS ARE ACTIV

Chicago, Dec. 7-PandemOnium
broke loose in grains today and with
an enthusiasm that has seldom if ever
been equaled bulls carried everything
before them. It was a wild day in
the pits with wheat in the lead and,
as on other recent bulges, an inces-
SAINT stream of buying orders from the
country brought the advances.
| Wheat easily led the activity and set
such a rapid pace that it was diff
fcult task to follow. As has been the
fashion for several days past the pit
opened with a jump, and disregarded
the usual governing factors. BulIish
enthusiasm did everything. The coun-
try was crying for huge quantities and
it was a case Of buy, buy, buy. Such
a market was a great temptation to
holders of long wheat and soon a flood
of it poured In from several points
One prominent broker threw 100000
bushels on the market and 1t had prae-
tically no appreciate effect. Where
several large sellers were making fat
profits there were as many others TAX
ing in all offerings with avidity. Com
mission houses had orders that demon
strated that the public was bigger than
the professionals.
The regular trade was of the Opin-
ion yesterday 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
tOday's business showed the effort was
wasted. Besides the countryman, the
capitalist was getting into the trade.
And, added to these very strong bull
arguments came the news of strength
at Liverpool and in the English coun-
try markets
Receipts, especially northwestern<
we're falling Off The weather was un-
settled and ali outside markets were
showing corresponding strength. De
cember wheat opened %G% to ih6Hc
higher at 76%077ls, eased off to 1855 on
the heavy profit taking, but in the last
hour of business sailed upward and
closed very strong 2%9212c higher at
7sss. May opened %G1c to 1K0I%
higher at SOS to SIN. sagged to SOS,
but near the last moment Of trade ran
excftedty up 70 SO and thus establish
ing a new crop record. The close was
very strong, 2&c higher at S2ss gs2%.
Corn was inclined to be fully sym
pathetic with wheat. Country offerings
have increased somewhat the last few
days on the big advances, and the in
clination today was for further profit
ecih4AA6s Wltttils IL Is IHOuBnL, WOQtG
have had a markedly depressing effect
had wheat not taken matters in hand.
Trade was smaller than in wheat, but
cables were higher and offerings tenn
por2Tily held of because of the wheat
demand. December closed strong sc
higher at GAS. May opened u to lie
higher at 6814 to 6S%, sold down to SSH
and then literally jumped to SO. new
record price, where it closed very
strong, 15lc up.
There was a good all around trade in
oats and strong feeling in sympathy
with wheat and corn. May sold to
AS, closing strong, 15sc up at 47M.
Provisions inclined toward dulIness
early and prices were slightly down on
a weaker hog market Strength In
grains caused a sharp rally and thew
closed strong. January pork 15G171bc
up, lard z1sc higher and ribs sc higher.
The leading futures ranged rs follows: