The Birmingham age-herald., 1909-04-16
SHARP BREAK IN
 WHEAT MARKET Prices Fall About Four Gents
 from the Top WILD SCENES ENACTED Corn Is Strong at the Start, But senti-
VILE SCENES ENACTED
Corn Is Strong at the Start, But Sent- ment Turns Bearish and Close Is Lower-oats Close Easy.
 Provisions Weak.

Chicago, April 15.-Wheat prices broke some 3s@4ssc per bushel on the board of trade today following the establishment of new high record marks for the season for May and July deliveries. From s1.29h the price of May dropped to sl26, while at the same time the July option broke from s1.1S7sqd .141a. At the close prices showed a net loss for the day of Is to 2ssq21sc Corn and oats closed easy and provisions weak.
 The long expected break in wheat prices came today, and was the occasion for one of the widest scenes ever witnessed in the board of trade. There was heavy selling pressure on the September deliv- cry throughout the entire day, resulting in considerable weakness early in tho session, but which was offset by the strength of May which was in urgent demand by shorts It was not until the final half hour, however, that the bears succeeded in effectually breaking through the defense of the bulls. An avalanche of selling orders carried prices down precipitately. declines of quarter to half cent being registered between sales on the way down.
 From S1. 29A, touched about midday, the May option droppedrto $1.26. July, which earlier in the day had established a new record at 1.1S7s, declined to s1.141a, while September sold off from s1.os7s01 .O5a4 On the break the leading bulls came to the rescue and bought without reservation during the remainder of the session. Ob- servers close to the Patten interests de- clared that the purchases of the bull leaders during the final b minutes az gregated fully 3,0O0,0O0 bushels mostly of the July delivery. Trade was of such enormous proportions that it was im- possible to follow accurately and hum dreds of buying and selling orders had to be cancelled owing to the sensational fluctuations. The efforts of the bull lead CTS to stem the receding tide was suc- cessful to the extent of an advance from the bottom of more than 1c in May and July, but the September delivery showed little rallying power.
 Excitement in the pit was still of the highest pitch when the final gong re- sounded for the close of business. Last quotations on May were at $1. .271a1D1. .275s and on July, I.155s41 .15%. September closed at $1.06A.
 The corn market was strong at the SIart because or the continued small re-
 ceipts which prompted heavy purchases 1 by several leading commission houses | Later, however, sentiment became bear l ish owing to heavy selling of the deferred l futures, credited to leading bulls in the | wheat pit. The market closed weak at
 about the lowest point, with prices off l 1sQAc, compared with the previous close. 1 Final quotations on May were at 6S1sc. Oats displayed more firmness early in l the day than was manifested in corn be- cause of buying due to unfavorable wealth I CT for seeding in various sections of the | country, but finally yielded to realizing l sales by local longs. The greatest pres | sure was on the distant futures, which l declined nearly 1c from the top. At the close prices were a shade higher to 3sc | lower.
 l Provisions were weak nearly all day on | realizing sales by prominent local hold 1 CT. A 10c decline in live hogs had a l depressing effect. At the close prices | were bQ15o lower