The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-05-27
ROUTED
IN WHEAT MARKET
More Than Eight Million Bush
els of September Wheat Un-
loaded by Longs.
PRICES TUMBLE WITH
ALARMING RAPIDITY
Market Is DemOraIized at the
Close, and Net Losses
Are Startling.

CHICAGO, May 26.-It was like n mar
ket in war times today on change,
Leading longs unloaded more than S.000,-
900 busels OF September wheat In lots
of 500 900 busels One house alone pur-
chased a line OF 100000 bushels.
Prospective retirement, at least tenn
porarily, OF one OF the most conspicuous
spectators in the world was among the
causes. Another was the almost simul-
taneous settlement OF big dealings In
May wheat whereby other traders of
prominence apparently have ended an
exciting experience.
The close was demoralized and at al
most the lowest figures OF the day, 3lc TO
6gc under the quotations current twenty
four hours previous. Corn showed a net
loss OF 1c 10 13Q1ec. and oats Sc TO lsm
lac. Provisions finished unchanged to
121C lower.
General opinion regards the days hap
penings as the end Of d bull campaign.
which was headed by the speculator who
retired and In which. IL the trade guesses
are correct the leaders losses are great
First transactions in September. 1910.
wheat were made on December %. 1909,
when sales ranged from 9Tac to 9I9c.
and today sold down to 929c The first
the public knew OF impending upheavals
had no apparent connection with the rer-
eran leader, but related TO extensive op-
eratons In May delivery by other large
traders. Nearly 900 bushels of No, i
northern wheat. heading down the lakes
from Duluth, to be delivered by short
sellers on May contracts here. were dl-
rerted suddenly to Buffalo. This made
IL appear that an Albany. y. Y. trader,
who Is believed to have been tho leader
in May contracts, had arrived at some
settlement with the bears in that future.
Almost Immediately the price 3f May
collapsed 2c and September was carried
down 1c. There was at the moment :!
good incentive for selling September and
other new crop months-the return OF
warm and soasonable weather In all the
wheat country east OF the Rockies and
west.
As prices tumbled the volume OF wheat
poured on the market seemed to increase
Much of the buying, however, was OF q
paralleled on n runaway market. Never
theless each half cent rally was the SIS
nal for the resclinS OF wheat a good
deal of the purchases were attributed 10
eastern operators as well as 10 Chicago
and foreign operators.
Corn was fairly steady for a time. but
finally gayo way because of the weak
ness of wheat and the warm weather In
the corn belt, September ranged be-
tween &c and &C down. closing weak AT
lec. The cash market also was weak
No yellow closed al 6i06lic.
There was much selling OF long Sep
tember oats by cash houses with coun-
try connections, Considerable selling OF
May was also done by the cash concerns,
September fluctuatcd between 3eAc and
sic, finishing a shade up from the bot
tom but ih@lac below the previous
close.
Provisions were firm at first on tho
lighter run OF hogs. but afterward were
affected by the weakness Of the grain
list In the end pork was down l25c
lard unchanged to 2ic on, and ribs un-
moved.