The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1904-01-02
MARKETS TODAY
War News Sends Wheat Up This
Morning
And Similar Influences Cause
Strength in Corn.
LIVE STOCK TRADE.
Cattle Unchanged, Natives Sell
ing at $500 to $4.75
Hogs Are Weak and Five Cents
Lower.

| Chicago, Jan. 2.-The greatest excite
ment in months in the wheat market
was experienced today in sensational
responses to the news from the far east
The market closed an hour earlier than
usual, and the curtailment of working
time became an auxiliary factor i'll the
speculative excitement. The effect on
prices was marked, May wheat closing
with a net gain of SIC over Thursdays
close, and July at an advance of $40
35sc.
According to authoritative officials of
prominent firms the drop in British
consols was the spark which, flung in
| the midst of peSSimiStic adviceS from
European capitals, set the speculative
finder afire. For the first time in many
weeks, the leading long became puny
consideration. The market became so
big that it was almost impossible to
keep track of it. The general public
interested in the cereal, made a con-
certed effort to cover, and naturally
found very little on the market, even
at the advance. Opening prices offered
for May showed a cent range, and
the bid for July was only fractionally
under this range.
The bottom price of May at the open
/ ing was 84%c. At the height of the ex-
element this option touched 87Ac, and
although at this price shorts secured
large quantities close was only Il lower
than the top, at size July, from its
bottom price of soc, rose by leaps and
over Thursday at 1925 @S2hc, The corn
market also advanced sharply in SYM
pathy, and oats, also, although in less
degree.
The close on May corn was 2 cents
over Thursday, while May oats showed
a net gain of 15@5sc.
Provisions also were affected, May
pork leading the advance with gain
of size
Chicago, Jan. 2.-Complications in
/ the far east caused a rush of buying
orders in wheat today and the market
was excited and extremely strong.
There was absolutely no wheat for sale
at the opening and initial sales showed
a range of an even two cents, from
| 84% to 86szc, or an advance OF a to 212c
| over Thursdays closing figures. At
! S6%c, there was considerable offered by
longs and the price declined to sec, but
| later advanced again to S75sc. Mime
apolis, Duluth and Chicago reported re-
ceipts of 612 cars against 353 cars a
year ago.
After touching S7Nc there was a de-
! cline to SIC on profit taking. On the
I last demand, however, prices advanced
and closing figures for May were at
! 8714c, a gain of cents for the day.
| General covering by shorts on the
serious war news together with the big
advance in wheat caused strength IN
corn. Offerings were very light and
| May quickly advanced to 467sc, after
! opening Is 10 14W 75C mig lcl dI 10 81 "
46c to 461Ac. Receipts 164 cars.
Prices continued to advance through
out the session and May sold up to
477sc. The close was at 47A @473sc,
gain of cents over Thursdays closing
figures.
Oats followed other grains in their up
ward course There was a fair demand
from commission houses and local
shorts and only small offerings. After
opening a shade to 1sc higher at 38H to
3SA@38ssc, May advanced to 3S5sc. Re
ceipts LOG cars.
Provisions were affected by the
strength in grains and by the fact that
there were practically no deliveries on
| January contracts. Prices showed good
gains in spite of weakness in the hog
markets. May pork opened to zoe
higher at s13.0715 to $18327A. May lard
was a shade to 5@71zc higher at sos to
$40 and ribs were up 215@5c to 5@71zc
at $6771z to $3.50.
Chicago, Jan. 2.-Rye-May SIC.
Flax-Cash, N. w, $1.031z; S. w,
s71Ac; January. 971ac; May $10314
Timothy-January, 1886; March, $3.o5
| @30715.
Clover-January, SLIPS.
Bar1ey-Cash, 35@5Sc.