People's Pilot, Volume 4, Number 48, Rensselaer, Jasper County, 23 May 1895 — AT 77 1-4 CENTS. [ARTICLE]

AT 77 1-4 CENTS.

July Wheat Touchea a High Figure at Chlcagot Chicago, May 22.—Wheat scored another advance todajr and took a long step toward the dollar mark. The opening quotation was 74>£c and the closing figure was 77%c, a gain of 3%c over the closing of yesterday. The advance was accompanied by many fluctuations and reactions, but the ascending tendency was almost without interruption. Values were forced upward by a combination of news of the most “bullish” kind. Other markets at home and abroad were active and higher; reports from all parts of the wheat-producing district indicate enormous damage to the crop, and there was a multitude of buying orders in the hands of the commission houses. The market responded quickly to these influences. It opened at 74%c and 74%c, three-fourths of a oent above yesterday's closing figure of 73%c. On sjiort order the quotations climbed to 75%c, and by 11:30 o'clock the top notch of 76%c was touched, a clear gain of 3 cents a bushel over the close of yesterday. The market eased off a little after this. The crop reports received in the brokers’ offices were most discouraging. In Indiana, Illinois, Michigan, Wisconsin, the Dakotas and Nebraska there seems' to be reason to suppose that not more than half a wheat crop will be harvested. The responsibility for the damage seems to be divided among the frost, the chinch bugs and the Hessian flies. All three have worked injury to the young wheat, and the ravages are greater than was at first supposed. Many fields of wheat which were thought to be safe are now reported to be turning yellow and withering, and the decay is said to be due to the pestiferous Hessian fly-