New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-04-23
CHICAGO GRAIN AND PROVISIONS.

Chicago. April Further sensational declines
ranging from Sc TO &c in the price Of wheat to-day
marked what is considered by many traders as the
wind-up OF the famous bull campaign engineered
by James A Patten and coterts OF his followers
The market closed at almost the bottom after July
had sold at 81 09Ss and May at 81 202L busheL-
Corn. oats and provisions were affected BY tbs
severe slump in wheat and closed weak
Liquidation the order of the day IN tbs
wheat pit From the cIang OF the opening bell TO
the finish long wheat was dumped into the pit and
the decline sudden at times that COM
mission houses were considered fortunats IL they
succeeded executing stop-lOss orders within 40
Of the limit There were times in the day dur
ing which covering by shorts by owners OF
downward indenlnities more than Offset the real-
izrg sales. but these were brief, as rule At thu
low point OF the day the July delivery recorded
loss of a &C TO 47sc from yesterdays prices and the
May option drop Of $40 This was break oe
touched 3u9InS ne ss "a 81 y Nav Tl a os
yhfI leader of the bulls was not in evidence par
sonaly in the pit having left the city yesterday on
well represented by brokers who. it was claimed.
kept unloading wheat as rapidly as conditions would
permit Selling by other leading commission houses
was also on an enormous scale, three or four con-
Germs beng cIeaiIed %i 6 slsS q 6aS SdS We
gregatlng between 5,ovUOvV anq ,OOO,Ov0 ousness-5
Meantime several things tended 70 contradict the
SsIt, 4I.T 49, ,TiCS bs5 be-, ifstad "a bs
ing extremely short OF the cereal were compare
lively heavy shippers during the last week. ac-
cordfng 10 semi-oficial estimates made to-day
nearly 500 900 bushels more than were shipped the
previous week. while Australia, which bad been set
ported more than 100000 bushels At the sarna
time advices from all sections OF the winter wheat
belt IN this country told OF generally favorable
conditions for the rapid growth OF the fall sown
crop. Gables also were weak, the Liverpool market
being off penny, despite the moderate rally here
yesterday. The market opened AZ net declines OF
sc isc nc. July being at 81 l2Ts 10 81 ia.
dropped to 81 H. rallied quickly again about lc-
The advance however. brought out fresh realiz-
ing sales. This procedure repeated throughout
the entire day with the exception that on each
break prices dropped little lower than on the pre-
vious drive. At the bottom July sold at 81 OSqss
Nav At 81 2034 and September at 81 0l@s- Finat
quotations were 81 09s 81 10 for July and 81 q
for May. net loss for the day or precisely &c TOT
each option. After advancing 10 new high record
mark for the May delivery. the corn market weak
ened in sympathy with the severe slump IN wheat
and closed at net losses Of sc TO HE compared
with the previous close The highest point touched
reached soon after the opening There was consid-
cradle profit taking in that delivery and the more
distant futures subjected 10 short sales, be-
cause of improved weather conditions In the corn
belt During the day MAY sold between 101so and
72c and closed at TOi2c TO I0Ssc-
The break In wheat, decline OF Ac to tzc In tno
price of the cash grain and more favorable weather
for farm work caused heavy selling Of oats. whicn-
resulted in declines a. the close ranging nom 10
to &c TO sc. compared with yesterdays final quo.
tations The May delivery ranged between 55&.o.
and 5s3sc and closed at soc TO 56]sc.
Provisions weakened on selling based on the De-
clines in grain, after the market had, displayed
moderate strength early in the session. result
of sc TO 10c advance in I've hogs. At the close
nrices were shade 20 1T1sc lower.