The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-12-06
BULLS WILD
IN MARKETS
Heaviest Transaction of Year
Is Recorded in Grains.
EVERYBODY WANTS TO BUY
Profit Taking Weakens Mar
kets towards Days Close,

Chicago. Dec. 5.-Booming bull enthu-
siasm. the heaviest transaction in over a
year in all pits, record prices in grain and
heavy profits for the fortunate sellers
these were the characteristic features Of
business on the board OF trade today.
The craze for much buying which began
10 show itself yesterday, was present
again at the opening and was augmented
en- every hand as the session advanced.
The pits, TIE floor ard the galleries OF
the board we're crowded with spectators
and spectators, largely visiting stock
men, all eagerly trading Advances IN
wheat were iisc. in corn nc and IN oats
JIG. Proft-taking on an enormous scale,
however. took much Of the strength from
the market and December wheat closed
only 4 to sc up. May wheat &c up, De-
cember corn q TO &c higher, May corn 3
TO &c higher and May oats = 10 sc ad-
vanced Provisions closed III 10 % up.
Wheat, as yesterday, seemed TO be in
most demand, though it held poorly. A
general bull movement, almost regardless
Of the usual influencing conditions, seem
ed 70 control transactions. The country
side seemed 10 have arisen as one man
and rushed to this mart 10 buy. Not since
the present bulnl campaign began have
brokerage and commission people been
pressed to handle speculation orders as
they have today No man or firm was big
enough in the perfect storm Of business to
be prominent in the pit Oherings.
which were very liberal at the very start,
were absorbed as so much water IL a
sponge. News IL itself was not very bull
ish. 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 clear
ances were not large. Outside markets.
however, Gid show a big increase. Prices
for all options we're well advanced n the
opening, and in the whirl of trade ire
nendous profit-taking by big manipula-
tors was disregardeG until there was such
n volume of it that it could not longer
he neglected. Business was estimated 10
be high up into millions OF bushels. Grad
cally the decline came, and with it some
slight luil in trade. December opened 3
to &c to IS TO re higher. at 75I- to 752ic.
sold up TO 761a 10 765sc, sagged of TO 75l2c
and closed firm. i TO sc up, at 1o7sc.
May opened x 70 &c higher, at i9Ss to soc.
advanced to the record price for the crop.
S05sc. cark back to 79lac and reacung
slightly, closed firm &c up, at -9ssc Lo-
cal receipts were s cars. none of con-
tract grade. Minneapolis and Duluth re-
ported 70l cars making a total for the
three points of $50 cars, against 6SS last
year. Primary receipts were 1.0SS.OJo
bushels, compared to 6SS,000 bushels last
year. Seaboard clearances in wheat and
-four eQualed $4,000 bushels.
Natural conditions, backed up by the
strong bullisk speculation. held corn we'll
Up and the bese advances of any Of the
PITS. Cables were strong. the cash de-
mand was lively, and the country at
large wanted the cereal badly. Outside
markets are constantly buying corn at
prices considerably above this market,
end prominent traders hold that in as
much as Chicago holds the big majority
Of old corn stocks. the country must
come TO this market TO buy. And buy it
did today As in wheat. buying orders
came in on all sides and sent prices up
TO new record prices. The general range
was nearly one cent over yesterday, and
the bigger part of this was firmly held.
In this pit also big realizing for profits
was under way. bur the effect was hardly
apparent. December opened 10lis TO ssW
&c up, at SIS to 642c. sold TO csc, sasged
hack and closed firm. q to sc Up, at
e4tc MAY started in spurts u to ic
higher, at 67I1 TO CSC. sold TO 6Siec, re-
acted and closed still strong, 8 20 &c
up at 675s TO 672sc. Receipts were III
cars.
me early TRACE IN oats vas IedNyt
with a very active demand on TIE part Of
the commission houses Shippers also
bought freely and frightened shorts
rushed TO cover. Acceptanccs were
small, TIE shipping demand fair. the
cash situation still strong. \ great deal
OF realizing for good propts by proml-
nent longs depressed prices toward the
close. May opened higher at 45i4 % 45iac,
advanced TO 46,sc-a new record price
reacted and closed firm, Z 10 sc up, at
s55sc Receipts were 10 cars.
Provisions ruled firm al c1y. aided by
light receipts Of hogs. the strength in
grains. ard good country buying As in
other pits, realizing tor profits brought
an easier feeling, but the close was
strong January pork closed 21sc up.
1T Sl6.e1: Jaauary lard 25c up. at $50;
January ribs 17ikc UP. at %-5e
Estimated receipts for tomorrow.
Wheat. 40 cars; corn, 80 cars; oats. 905
cars: hogs, 30011 head