The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-10-01

CENT WHEAT
Highest Price in Chicago
Market Since Letters Time.
DAYS GAIN 7 ~ CENTS
Longs Were Lenient or 1t
Would Have Been Worse.
DAYS GAIN 7 IL CENTS

Chicago, Sept. So.-september wheat to-
day sold at the highest price or record
on the board Of trade since the Letter
deal in 1886. when prices reached SOC,
and but for the Ieniency of the longs the
price might have been advanced indeh-
nitely. as all the available supply was
practically in the hands Of one OF two
traders The close on September was
at a gain of TIC. while December closed
| 7sG14c lower. December corn closed L
ql4c higher. with oats sdAc down.
January provisions closed from 21zd 71zc
lower
| The an-absorbing feature of trading
in wheat today was the alleged corner
in September delivery. Early in the ses-
sion there were sufficient shorts who
had neglected covering their contracts
TO boost the price from s77sc TO 9lc. but
at this figure there was e lull in the
proceedings. due to rumors Of injunction
similar to the one secured in the oats
corner recently. AS the session advanced
and nothing OF this nature materialized,
shorts decided further parleying was
useless and there was a grand rush to
cover. The result was the price ad-
vanced from 90c to csc within scarcely
sale at intermediate figures At 95c
shorts were able to secure all the nee
essary stuff TO satisfy their creditors.
most OF the offerings coming from Ar
mour and Co., who have been leaders
in bull movement. The opening was
sq5sc higher, at SSqSs1zc. After sell
ing up TO s0c, there was a reaction to
S7-sc. Then on renewed covering the
price advanced rapidly 10 95c, and the
close was at the top notch. at a gain
o. TIC over yesterdays close. Future
deliveries were listless and inclined 10
weakness. December opened higher, at
6SSsc, sold down to CSC and then rallied
slightly toward the close. which was
generally &c lower, at 6SlaG6Sssc. Out
side of the September trading the feat
ure was the buying of Hay and selling
CT December Statistics were against
the market and as a result there was a
weak undertone. Bradstreets reported
an increase IN the worlds visible supply
OF s,7oOo,oao bushels against an increase
of $4,000 bushels last year Clearances
of wheat and -four were equal to 406. 600
bushels. against 1.e97. 600 bushels a year
ago Minneapolis and Duluth reported
receipts of loo cars which. with local
receipts of S57 cars, made total receipts
for the three points of 1,427 cars. against
l.479 cars last week and 1888 cars a ear
ago.
Corn was traded in but moderately
but there was a strong feeling preva-
lent throughout the entire session. High
er cables and reports of damage 10 the
crop In Iowa from excessive moisture
were the main bull factors. December
opened unchanged to nc higher. at $50
457sc, and on selling b commission houses
there was a reaction to 1870. but prices
soon advanced again. with the top price
at 46c. The close was 1sG54c higher, at
452tG457sc Local receipts were $40 cars,
81 Of contract grade.
Oats were dull. with prices about
steady. The feature was the liberal re-
ceipts. with poor grading The weather
was unfavorable for the movement, and
this was a rallying factor. The close
was slightly lower than yesterdays final
figures. December opened unchanged at
sO7sc. sold down to 3olzc. but rallied TO
so7sdac. The close was 1sdkc lower.
at 3Ossd3Os4c. Local receipts were go
cars.
The feature of the provision trade was
the buying of nearby products and sell
ing Of future The opening was easier,
with considerable January pork for sale.
Outsiders were the best buyers. With
commission house sellers. January pork
closed nc lower. at $3.50, January lard
. clover. at Sc and ribs 2i3c lower, at
ssO5
Estimated receipts tomorrow: Wheat !
100 cars: corn. 90 cars; oats. $50 cars; (
hogs. 24ooo head