The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-03-17
BULLS IN CONTROL
AT CLOSE OF THE WEEK.
BULLISH ENTHUSIASM AT A
HIGH PITCH DURING WEEK.
Markets Were Excited, Dealings
Heavy and the Close Showed
Large Gains in Wheat.

In speculative grain prices during the pas
week. and wound up with the situation il
their control. There was little 10 the con
ditions having an influence upon the specu
lative situation In general to encourage tn,
bulls early in the week. but later all thf:
was changed. things coming their way. and
a very marked and decided change for tht
better took place. both in the tone and tht
prices ruling in the different markets. The
Impression made upon values. In fact, was
a marked one. all grains showing large and
substantial gains, as compared with last
weeks closing figures. In a trading way
the situation generally was very much bet
ter, more life was shown In pit operations
and a general all round Improvement being
witnessed III the dealings, which were
larger than they have been for some time.
Strength and more or less bullishness was
displayed all through the last half Of the
week. and especially during Friday and yes
terday. An Old-tfme bull market was ex-
perienced in wheat. the effects of which
was to bring about an all-round advance,
and the close of the week shows important
gains in wheat and corn. but no improve
ment In oats. except that all earlier losses
were fully recovered, and the close was
strong.
There was a well-defined change for the
better in the local wheat market during the
week, and the close witnessed a big I'M
| provement In values. An all-round stronger
feeling was displayed. the 'bullish sentiment
underlying the situation was increased. spec
ulation was more active and more excite
ment was shown than has been witnessed
for many a long day. All domestic mar
kets We're stronger and higher. and the news
from abroad, especially late, was of a char
acter to Influence speculation and give added
strength TO the general situation. One of
the early influences was extremely bearish
that Is, the Government report on farm
reserves. which showed that rs, 0o0. 600 bu.
still remained in farmers hands. But the
impression made by this was not lasting or
serious. as the buliish sentiment was in the
ascendant. and a sharply higher and lively
er part Of the week. and In particular on
last Friday, when there was an old-time
messed for many moons. The general run of
adviees during the week was largely favora-
BILE for the bulls. Cables We're stronger and
the Continent. Receipts at this point were
smaller and stocks largely decreased.
There was also an improved cash demand
for both flour and wheat. good export buy
Ing, and while the export ciearances for the
week, were not quite up to those of the
week before they were largely in excess of
the case Of the worlds shipments, they
were about as expected, being nearly T.
OOo.OO bu... while the amount on ocean pas
sage was increased over 500. 900 blu. On the
other hand there was a decrease in the
visible supply of this country of over L.
$4,000 bu:. and Bradstreet's reported a de-
able, while east of the Rockies there was a
decrease of over 1.4OO, 900 bu. Strength was
the chief feature OF the situation all
through the week, but no great impression
was made upon values until Friday and
yesterday. when there was an advance Of
over 1c registered. Friday was the boom
day. there being a bulge on short covering
that adv anced prices sharply and created
the widest kind Of excitement. This was
followed by a further advance of sc to tsg
&c yesterday, and the market closed with
the bulls In control and nearly at the top,
May showing a gain for the week Of lac
and closing at 75Ac sellers, while July was
1as4 &c higher at 74c.
While exhibiting less excitement and not
making near the gains that wheat did, the
s stroae,o a an n .s norm au ring the week e S, Mas s,s both
point, and the strong tone developed at the l
outset was continued with little or no in |
terruption all through the week. The first
Government report. which showed Z ,O00.0OO
bu- on hand. when considerably more was |
1ooked for by traders. Then there was a |
falling off in the movement from the coun- |
try, much more encouraging cables and a
very decided Improvement In the cash bust
were large. though the total for the week
fell below those of a week ago and the
same week a year ago. There was an In
10000 bu., and Bradstreet's figures were
bearish. they showing an increase in the
Of over 10000 blu. The market
ruled strong all the week. but no great
change took place in current prices until
Friday, when there was a bulge in SYM
pathy with wheat, which was followed by
2 further advance yesterday of Lose to
3s41ac, and which closed the market right |
up at the top. and from 19hc higher for
at 40Ac asked and July Ike better at
Q4OHc.
During the week the attention of traders
was taken up with wheat and corn, and
they had little time for oats, consequently
hat grain suffered in a trading way. The
was stronger. especially late. and
While not closing any higher, the earlier
osSes were recovered and the close yester-
lay was the same as last Saturday. Nav
icing quoted at 261sc sellers and July &c
sellers.