The Birmingham age-herald., 1909-04-14
WHEAT REACHES
 PRICE OF $128 Bull Movement Has Not Yet
 Touched the Top DECLINE IN LATE MARKET Moderate Firmness Is Shown In Corn, But Prices Decline Sharply Follow ing Wheat-oats Close Easy
 and Provisions Steady.
DECLINE IN LATE MARKET

Chicago, April 1S.-Wheat prices again rose today to new high record marks for all deliveries, July advancing to s1 1171h and September to s1 091a per bushel. At the same time the May option sold at a.2S. The market slumped sharply on realizing sales, but regained part of the loss. At the close prices were aQ7sc lower to 1Ac higher, compared with final quotations of the previous day
 Corn and oats closed easy and provisions steady.
 Sensational advances in the price of wheat at the principal grain centers of Europe, particularly at Liverpool, where gains of SAd to Sgd since last Thursday were recorded. caused the market here to open excited and strong, with all de- liveries selling at record-breaking prices for the season. The initial advances ranged from A@ssc to 1%c. the latter being on the May option, which opened at s1.H to SIPS and September opened at $1. 08al to $1 09ss
 Demand for July was enormous and that delivery quickly shot up to S1.1715 September rose to $1 .o91z. The strength of the May delivery. was said to have been due to the closing out of trades for the account of Ennis & Stoppani, the New York concern which went into the hands of @ receiver today.
 Toward the end of the first hour the market broke sharply on general selling Inspired by enormous sales by leading commission house. The decline brought out liberal stop-loss orders, which aecel- erated the downward tendency of prices Before the decline could be checked July had dropped to s1.15ss and September to $1. .067s.
 For a time the market was inclined to be heavy, because of free realizing sales, but gradually became buoyant again, ow. i1g to the bullish character of news of the day. One of the strengthening infiu- ences was decrease of more than 5,O00,- 900 bushels in the worlds visible sup ply. A fair advance in the price of cash grain here also gave new courage to the bulls. The top price for No. 2 red west was quoted here today at $1. 40 per bushel. The statement of the leading bull that it would be several years before wheat prices would be much lower than they are at present also had considerable effect. The market closed firm, with July at $1 .163sQ1 .161a, and September at $1 076s.
 The bulge in wheat caused moderate firmness in the corn market at the start, but prices declined sharply following the break in wheat. Part of the loss was regained on buying based on wet weather in the corn belt, but the market was in clined to be heavy during the latter part of the session. Trade was of only mod crate volume. At the close prices were 14c to 1ac lower than yesterdays final quotations, May being at 66Ac.
 Oats were weak the greater part of the day because of renewed liquidation of 10 arrix al at New York of large quantities of Ar genuine oats. At the close prices were Hc to 3ss@18c lower, May being at 53%Q54c. Provisions were firm early in the day, owing to 5-cent advance in live hogs, but eased off a trife because of profit taking by prominent local longs. At the close prices were 21sc to cents lower to cents higher, compared with yes- terday's final quotations.
 Cash quotations ranged as follow: