People's Pilot, Volume 4, Number 49, Rensselaer, Jasper County, 30 May 1895 — HIGHEST OF THE YEAR [ARTICLE]

HIGHEST OF THE YEAR

JULY WHEAT AT CHICAGO STRIKES 82 3-BC. Taking of Profits Depresses Prices X Cents—Corn Almost as Excited as Wheat —Provisions Firmer —Day in Wall Street. Chicago, May 29.—There was great action in wheat for the morning hours. Il sold l%c over the closing price Monday and broke the high record for the year. It broke back the first hour l%c to the Monday price. Then it had a sharp upturn of 14c, followed by a break of ’4c to Monday’s price again. This was followed by the third bulge, and this by renewed selling, and over .1c break before midday. From this the fourth rally started at 12 o’clock. July sold 82%c to 82c at opening, to 81%c to 82%c, highest figure y.et made on the crop, to 80%c to 81 %c to 80%c to 81%c to an hour before the close. The wires and the mails were filled with accounts of hot winds and fresh injury to all crops from drouth, which was generally unbroken. Liverpool cables came excited and higher, wheat was marked up 2d on speculation. The Washington weekly bulletins were especially alarming about Southern Illinois and Missouri wheat fields. The prospect of injury to corn and oats added to the early buying force in wheat. Then traders commenced taking profits. The country buying was not as great as last week after the first hour. The trade had predictions of rains at 11 o’clock. This caused the dip to the lowest point, which, by the way, was only %c under last night. Disappointment that the July price did not get back even to 80c on rain predictions, fqr-most of the wheat states gave the trade a hint of what might happen in case the rains came not. This started the buying on the late rally to 81%c. With professionals sold out, and the country holding extensive, there is no telling what wheat will do after the Thursday holiday.

Wheat broke down at the last to 80%c and closed 80%c, only %c under last night. It was simply evening up of local longs before the holiday. The reaction at the close was just 2 cents from the top, yet the market rules decidedly higher from the close last week. Cash sales here were 150,000 bu No. 2 red and some spring. Cash houses report sales to Fort Worth, Tex., Kansas City and Illinois points. Corn was very strong early with wheat, broke down with wheat, rallied with wheat. The drouth has become somewhat alarming over the corn states. While receipts are heavy the shipments are enormous also. Local movement 731,000 bu in and 670,000 out. Western markets, 899,000 receipts; 795,000 shipped. Export clearances were 181,000 bu for the day. Withdrawals here were 497,000 bu. Long before the close cargoes of cash corn amounting to 170,000 bu were reported sold. On the wjld opening July corn sold l%c higher at 551,4 c and worked back to 53%c after midday. September sold 56%c and back to 54%c. Corn closed 53%c July, 54%c September. Charters were reported fyor 290,000 but at l%c Buffalo. There was good action in provisions. Pork got up to 113 July, $13.35 September, and closed $12.90 and 813.17%. Lard closed 86.85 July, 87 September. Ribs closed 10c up at 86,45 and 86.65. Quotations were:

Articles— High. Low. Close. Wheat—No. 2. . May 29. May 28. May 8 .81% 8 .78% 8 .79% 8 .79% July 82% ..80% .80% .80% September. .82% |O% .80% .81% Corn—No. 2. May 52% .52% .52% .52% July 55% .53% .53% .53% September. .56% .54% .54% .55% Oats—No. 2. May 30% .30% June 32 .30% .30% .30% July 33 .31 .31 .30% September. .33% .31 .31 .30% p May. ’96.,.., -36% -34% .34% .34% -May i.. ... ti .. 12.80 12.80 July 13.00 12.80 12.90 12.70 September .13.35 13.07% 13.17% 13.00 Lard— May 6.72% 6.60 July 6.85 6.80 6.85 6.72% September . 7.02% 6.95 7.00 6.87% Short Ribs— May 6.35 6.25 July 6.50 6.45 6.45 ' 6.35 September. 6.70 6.62% 6.65 6.55

Chicago Produce Market. The following quotations are for large lots only; small quantities are usually sold at advanced prices: Vegetables—Asparagus, home-grown, 65@90c pe/ doz; beets, 25040 c per bu; cauliflower, 81.2501.50 per crate of 1 doz; Cucumbers, 81-2501.50 per crate; green onions, 25040 c per case; green peas, 85c@|1.0O per bu; lettuce, home grown, 50075 c per tub of 4 doz; new cabbage, 83.50© 4 per crate; onions, Michlgans, 8101.75 per brl; pie plant, 25c per 50 lbs; radishes, 25075 c per bu; string beans, green, >1.2501.50 per bu box; wax, 81-5002.25; turrrtpe, rutab&gas, 18©23c per bu. Cheese—Young Americas, choice, B%c; twins. , 8c; Cheddars, 8c; prick, 7%©Bc; LlmVurger, T%c!; Swiss, 10©10%c. Hutter—Creameries, extra, 17%c per lb; first. 16017 c; second, 13©14%c; third, 10012 c; dairies, extra, 16c; first, 13©14c; second,' tatlon- creameries, extra, 14016 c; ladles, extra, 10c; first, B®9c; second, 7©7%c; packing stock, fresh, 7®Bc; grease, 3©sc. Live Poultry—TuAkeys, choice, B%@ 9c per fb; fair to good, B©B%c; ducks, fair to choice, 7%c; geese, 8304 per dos. Apple»-42.fiO®g.W per brL ; sj.-j Potatoes—Hebrons, 48050 c per bu; rose„ 45048 c; peerless, 45048 c; Burbanks, Michigan*, 58055 c. Eggs—Salable at ll%c per doz when cakes are returned; 12c cases included. Wall Street. New York, May 2f.—The stock trading was of moderate proportions at the opening, with lowering prices. The recessions, however, were unimportant outside of Wheeling and Lake Erie preferred, which lost % per cent, and Tobacco % per cent. Speculation was quiet after 11:30, but there was a general improvement in prices, ranging up to 1 per cent, the latter in Tobacco, Rubber anff~Leather preferred. -Near noen-M4n-neapolis and St. Louis firsts preferred declined 1%, Laclede Gas and Lake Erie and Western preferred 1, and Tennessee Coal % per cent, but the market in the main was firm.

Money on call easy at 101% P*r cent. Prime mercantile paper..«,2%%3% per cent. Sterling exchange firm with actual bnuslness in bankers’ bills at 4830 for demand and at 4870487% for 60 days; posted rates, 4870488 and 418% 0489; commercial bills, 4M%0486%; silver certificates, 67%067%, no sales; bar silver, 67%; Mexican dollars, 53%; government bonds firm. United States new 4s. reg. 123%; new 4s coup, 123%; 5s reg,. 116; 5s coup, 116; 4s reg, 127%; 4s coup, » 113; 2s reg. 97. Pacific 6’s of ’95. 100. Closing quotations were: Atchison ~.?7’/Manhattan Con.lliJ? Am. Cotton Oil Missouri Pae. 28% Amer. Tobnc .114% Michigan Cent 106% Baltimore AO. 62% Northern Pac . 5% Can. Pacific North Pac pfd ?0 C. B amlQ 80% N. Y. Central... 101% & Kt.L. 44 Northwestern... 98% Conlage 4% N. Y.A N. E..... 43% Chicago Gas 73% N. American... 6 Chesap’k&O.... 22% Omaha SB% Del & Hudson... 130 " Omaha pfd ... D. L, & W l*2 Ont. &West’n.. 18% Dist Catl Fd C. 2 % Pacific Mail 27% Den & R G nfd.. Pullman 12% Reading...l9% East’n Illinois,. 54 Rock Island6B% East Ten uessee'Richmond Ter.. Illinois Central Silver Cer...... t , * rse y Central. .101 Sugar Refinery 117 Kan & Tex pfd. 32% (St Paul 66% •■ • • 35 St. Paul pfd7 •» N-A & C 10% Texas & Pacific. 12% J': & N 58% Union Pacific... 14% Linseed Oil .... 28% Western Union. 98% 24% Wabash 9% L. K A W. pfd,. 82 Wabash pfd,... 20 Lake Shorel46 Wiseon’n Cent Govern,neui uoudn viand at the following bid prices: Registered 25... 97 Currency 6«, ’97.106 Registered 4s . ...112% Currency 6s, ’98.109 Coupon 4sUS Currency 6s ,’99.111 Currency 6s, ’95.100 Coupon 5s Currency fa. ’96.103 Regist’d fa ex 1.. ’...

Live Stock. Chicago, May 29.—Cattle—Receipts, 14,000; calves, 500. Fancy cattle such as have sold lately at $5.90 to ,86.10, are now coming forward sparingly, and there was a slow trade in common to choice native beef steers weighing 9600 1,500 lbs at 8406, with the bulk of the transactions at 84.7501140. Beeves averaging more than 1,400 Ibe moved’off slowly and the demand was largely for cattle weighing from 1,200 to 1,360 lbs, such Mots going at 8505.T0. Cows and heifers sold anywhere from 81.75 to 84.50, according to quality, the bulk selling at 82.2504.10. Bulls find purchasers at 82.2504 and veal calves are In active demand at 84.2605.50 per JOO lbs. - Hogs—Receipts, 26,000. For common, to choice heavy hogs the ruling prices were 84.40 04.85, with the bulk of the sales at 84.6504.75. Light hogs sold at $4.25&4.65, principally at 84.6004.64, and sales were made of common ta choice mixed at $4.2504.70, pigs at S4O 4.25 and culls at $204.20. Sheep—Receipts, 14,000. There was a fair demand, but the big supply caused a weaker market, and prices were 100 16c per 100 lbs lower. Inferior to cholc* sheep sold around $3.50 and upward, and lambs sold at $4©5.85, while ordinary clipped Texas 77-lb sheep sold around $3.50. Spring iambs were lower, wfith sales at $5.25 05.65 for good lots. Wheat and Corn. Closing prices of wheat and corn at the following named cities were: Wheat—New York—May, 81%c; July. 82%c September, 83%c. St. Louis—May, 83c; July, 80%c. Duluth—Cash, 80%c; July, 81c. Minneapolis—Cash, 80%c; July, 80%c. Baltimore—May, 80%c July, 81 %c. Toledo—Cash, 84%c; July. 82%c. Milwaukee—Cash, 79%c; July, 81 %c. Detroit—Cash, 84%c; July, 82%c. Corn—New York—May, 57%c; July, 68%c; September, 59%c. St. Louis—. May, 51c; July, 52%c. Baltimore—May, 58%c; July, 57%c. Liverpool. Liverpool, May 29.—Wheat—Spot,No. 2 red winter, 5s lOd; No. 2 red spring, 6s 3d; No. 1 hard Manitoba, 6s 2%d; No. 1 California, 5s 10%d. Futures —May, 5s 10%d; July, 5s August, 5s ll%d; September, 6s %d; October, 6s %d. Corn —Spot, -American mixed,-new, 4s 10%d. Future?— May, 4s 9%d; June, 4s B%d; July, 4s B%d; August, 4s B%d; September, 4s 9d; October, 4s 9%d. Flour—St Louis fancy- winter, Peoria. Peoria, 111., May 29.—Corn, No. 2,58 c No. 3, 62%c. No. 3, 31%c. Rye—Scarce. WTiisky— High proof spirits, 81.25; finished goods, 81.24. Receipts—Wheat, 3,009 bu; com, 70,000 bu; oats, 122,000 bu; rye, 1,800 bu; barley, 1,400 bu. Shipments—Wheat, 10,4)00 bu; corn, 61,000 bu; oats, 153,0fi0 bu; rye, none; barley, 700 bu. New York. New York, May 29.—Butter—Receipts, 8,178 pkgs; western dairy, 7%0 12c; western creamery, 11018 c; Elgtns, 18c; imitation Elgins, 9014 c. Eggs—Receipts, 10,920 pkgs; western, 12%@13%f. Coffee—Steady. Toledo. / Toledo, May 29.—Wheat—Cash, May and June, 84%c; July, 82%c; Augur; and September, 81%c bid. Corn—Cash and July, 64%c. Oats—July, 32%c. *