The Birmingham age-herald., 1907-05-14
WHEAT SCARS PAST
 TIE DOLLAR MARK
Sensational Opening of the
 Chicago Board of Trade
GAINS FOUR CENTS FOR DAY
At the Opening Brokers Buy Millions of Bushels at the Market-Shorts Are Up In the Ar-$1.5o
 Freely Predicted.

Chicago, May 13.-In the most sensa- tional opening in the history of the Chi cago Board of Trade, wheat today shot past the dollar mark. Heavy realizing sales pushed the market backward some what, but at the close the market was strong and according to the majority of spectators on the board, the demand IS still unsatisfied. The net advance today for wheat was 1 cents for the July and September options and 41s for the Decem- Der. From the low point of Monday last week July wheat advanced 13a4. Septem- Der has gone up 1524 and in the December option the high point was 1894 above tie low price of last Monday.
 It was a certainty that a strong bulge would take place in the wheat market at the opening. Country orders had been poured in seemingly in an endless stream, and in obedience to them brokers stood ready to buy millions of bushels at the market price. Shorts were in a highly nervous condition and were eager to cover. ThS result was that as soon as the gong so>s. led there was a terrific roar of voices, all anxious to buy and nobody offering to sell.
 The trade was too big and too broad to be followed with any certainty, and brok- CTS filled orders frequently several cents away from the point at which they had hoped to buy. The confusion was so great that for few minutes but little actual business was transacted, the brokers fighting and struggling in the eff fore to get hold of wheat from anybody or at any price. The July option sold as soon as figures could be registered out of the confusion anywhere between 93 and 94. September opened at 95q99 which was up 13s to 5as above the closing price of last week. December showed a wider the opening quotations ran at all figures between 961s cents to $1 .03
 The price was 11b to cents above the final quotations of Saturday. The rush of buying orders seems to come from all most every city in the United States which was situated along a telegraph wire. They came from Winnipeg and from Louisiana, and from points on the Pacific and Atlantic seaboards The pro- fessonal traders were of the opinion that the opening was a little too vigorous and tiiC CllttilCe lO StlZe pTOlllS OH lllleS Ol IOHB wheat carried over Sunday was tempting As soon, therefore, as trade steadied a little, millions of bushels were thrown on the market in realizing sales, and the advance for time was checked. The buying orders, however, still poured in and the market scared up again. Again the long wheat came out and brought about a reaction and again the country buyers forced it up. The situation was tnn for rlinIIp of men to stem. The country at large seemed determined to buy wheat at whatever price 1t could be had.
 There was no claims in any direction that the market was being manipulated The general opinion seemed to be that the advance was based on natural conditions which are certain to curtail in large de- grees the worlds coming crop of wheat The advices from all parts of the west and northwest confirmed the previous re- ports of damage by weather and by in seets, while telegraphs from the Canadian northwest declared there was still no pos slbility of seeding in that district, and that every day of delay meant the loss of thousands of acres that might other wise have been sown to wheat
 Cablegrams reported the market at Liv- erpool and Budapest to be In a highly ex- cited condition, with prices advancing strongly. Liverpool was declared to be affected by gloomy reports from Russia, and 1t was the belief of many prominent commission men that Europe will be forced 10 buy heavily In the American market, and that the American market instead of being able to meet this de- mand, will be scarcely strong enough to supply such wheat as is needed for home consumption. Such prominent traders as William H. Bartlett and James Hatten declared that the conditions warranted the sensational advance in prices, declar- ing that the wheat problem for this year will be a difficult one for European buy CTS to solve.
 Amongst the smaller traders predictions were made that before the present ad- vance has stopped July wheat will go over $1. .25 and possibly to $1.50.