Democratic Sentinel, Volume 19, Number 17, Rensselaer, Jasper County, 3 May 1895 — BIG CORNER IN WHEAT. [ARTICLE]

BIG CORNER IN WHEAT.

Chicago Packer Said to Have Secured All Available Stocks. Wheat made another long stride upward in Chicago Saturday, the July ops tion closing at 64% cents, which is 1%, cents higher than it closed Friday night. Numerous causes for the day’s advance were given, the most prominent of which’ was the hitch' in the Japan-China peace. The Post prints a story that P. D. Armour has practically cornered the market, controlling all available wheat. It is said that William H. Wallace, who is reported to control all the available stock of contract grade of wheat in New York*' is closely connected with the latter on the, deal. Armour’s holdings are said to be, enormous and his control of the stock i» said to be the real cause of the late advance in prices. The features in corn were the covering by Phillips in the pit and the big cash! sales, 350,000 byehels at least. Ln oat« there was.simply changing with the May. rather weajs considering the surround-' ings. Provisions were helped slightly by, wheat. The trade was not large. There was not much excitement accom-l panying the advance,' blit it took evident, straining to repress it. The usual statistical news of'the day was bearish and'the, weather was favorable for the growing crop, but everything had to yield to the confidence of thp bulls in what they con-' sidered the smallness of the country resources. The • week’s clearances from both coasts amounted to 700,000 bushels less than on the week before. The Minneapolis and Duluth receipts aggregated. 334 carloads, compared witji 137 a year ago, and the total at the primary West-; ern markets was 277,000 bushels as; against 170,(KM) bushels on the corresponding day of the year before. The Atlantic port clearances of wheat and flour fori twenty-four hours were equal to 373,■000? bushels. Those figures were all in favor of the bears, but were utterly ed in the trading, which latter was ruled; as already indicated by a scarcity of, wheat believed in by the bulls. The bears; refused to seek information beyond what: they could see, and they refused to seek information beyond what was given bn the blackboard regarding the details ofi 68,000,000 bushels in the visible supply.