People's Pilot, Volume 5, Number 16, Rensselaer, Jasper County, 10 October 1895 — ADVANCE IN WHEAT. [ARTICLE]

ADVANCE IN WHEAT.

NERVOUS SHORTS CAUSE A GAIN OF 7-BC. Too Much Selling Alone Responsible for tDe Decline—Corn Sells at the Lowest Figures of the Year —Price in Wall Street. Chicago, Oct. 9. —From a steady opening the wheat market made an upturn oi %c, selling within %c of the best point on the l%c upturn of yesterday. Two hours later there was a break of nearly 1c from best point. This was followed by a second mild rally. The action for December was 59%c to 60%c to 59%c to 59%c at midday. The Northwest cars were over last year, 300 cars. The two big markets had 1,041 cars, last year, 741. The primary receipts looked large at 1,133,000 bushels,against 739,000 same day lase year. Export clearances of wheat Atlantic ports barely exceeded 75,000 bushels. The trade had to rehash the Corn Trade News figures, claiming about 11,000,000 bushels increase for the month In total European supplies, including stuff afloat. Liverpool was steady at opening and lower by late cables, although our market made 1c gain yesterday. The Bradstreet’s exhibit of world stocks at noon gave 3,094,000 acumulation east of the Rockies. Europe Increased but 93,000 bushels. The world’s increase of 3,190,000 for the week was therefore called bearish by some, bullish by others. Short sellers failed to break wheat under 59%. Later they thought best to buy back some of the wheat sold early. With the oft-repeated rumor about English and French fleets ordered to Constantinople it took little to start a buying flurry. There was a late advance of 1c from 59%c to 60%c in quick time. The close was at 60%c, %c to %c over yesterday closing.

The situation in corn could not well be much heavier. The old corn keeps coming freely and the demand is less urgent every day. The trade expects a free movement of new corn with the perfect weather to favor early receipts. At the same time there is a stoppage of the shipping movement. An advance in freight rates is against the market. This was shown in very light shipments of 38,000 bushels, where the movement down the lakes has been heavy. Exports also dropped to 25,000 bushels for the day. The estimate for to-morrow is 540 cars. There was a drop in prices the first hour. This was also before the strength in wheat was felt. October corn sold 29 %c to 29c, December, 27%@27%c to 27%c; May, 29%c to 28%c. Later, when wheat advanced, corn rallied to 29%c, to 27%c, to 29c for the months named. Corn closed 29%@29%c October, 29c bid May. No vessel room was taken for corn. Vesselmen wanted 4c to Buffalo. Provisions acted as they did yesterday. There was some support early, with a drop in prices before the close. January pork sold $9.60 and $9.47% and closed $9.50, 5 to 7%c lower. Lard sold off 5c to $5.77% and closed $5.80. Ribs lost 5c at $4.82%. Quotations were: Articles’-^High~~ povf. —^CTose —— Wheat—No. 2. Oct. 9. Oct. 8. Oct. ...$ .60 $ .58% $ .59% $ .58% Dec6o% .59% .60% .59% May. .. .65% .63% .63% .64 Corn — 0ct29% .29 .29% .29% Dec 27% .27% .27% .27% May. .. .29% .28% .29 .29 Oats — 0ct17% .17% .17% .17% Declß .17% .17% .17% May. .. .20% .20% .20% ,20% Pork — Oct 8.30 8.37% Jan. ... 9.60 9.47% 9.50 9.57% May. .. 9.82% 9.75 9.75 9.82% Lard — Oct. ... 5.80 5.75 5.75 5.80 Jan. ... 5.82% 5.77% 5.80 5.82% May. .. 5.97% 5.92% 5.92% 5.90 S. Ribs— Oct. ... 5.17% 5.02% 5.02% 5.25 Jan. ... 4.87% 4.82% 4.82% 4.87% May. .. 5.07% 5.02% 5.02%

Chicago Ptoduce Market. The following quotations are for large lots only; small quantities are usually sold at advanced prices: Fruits —Apples, [email protected] per brl. Vegetables—Cabbage, choice, SI.OO per 100; cauliflower, 25@40c per case; celery, 25 @ 50c per case; cucumbers, 75c per brl; onions, 24@26c per bu; Lima beans, 18@20c per qt; string beans, green, 75c per sack of 1% bu; wax, 75@90c; sweet corn, 2@sc per doz; tomatoes, 30@40c per bu basket. Butter —Creameries, extra, 22c per lb; first, 19®21c; second, 14@17c; third, 9®llc; dairies, extra, 18c; first, 13%®14%c; second, 9@llc; imitation creameries, extra, 15c; ladles, first, ll®12c; second, B%@9c; packing stock, fresh, 7%®9c; grease, 4@sc. Live Poultry— Turkeys, choice hens, 10c per lb; spring, 9% @10c; fair to good stock, 5%c; chickens, hens, 7%c; springs, 8c; ducks, fair to choice, 9%©10c; geese, s4@s per doz. Eggs—Salable at 16c per doz when cases are returned; 17c cases included. Beans—Pdas and navy beans, hand-picked, [email protected] per bu; clean, [email protected]. Lima beans, California, [email protected] per 100 lbs. Cheese —Young Americas, choice, twins, 7t4®Bt4c; Cheddars, brick, 8c; Limburger, 7%@Bc; Swiss, 12@12%c. Potatoes —Burbanks, 23@ 25c; Hebrons and Rose, 18@22c; mixed, 17@21c. Sweet potatoes—[email protected] per brl. Wall Street. New York, Oct. 9. —The stock market opened irregular and moderately ae* ive. The changes in the first fifteen * nill ' utes of trading were trifling «*d were in the main in the nature of advances. The market was then steady. There was a decided upward tendency to price*'

after 10:15. At 11 o'clock Chicago Gag was off % per cent from the best flguree, but the general list continued strong. After 11 the general market receded in a small way, but toward midday improved fractionally, and was firm. Money on call at 2%@3 per cent. Prime mercantile paper, 4% @6% per cent. Sterling exchange firm, with actual business in bankers’ bills at 487% @487% for demand and 486%@486% for sixty days. Posted rates, 487@487% and 488@488%. Commercial bills, 485%. Silver certificates, 67%@67%; no sales. Bar silver, 67%. Mexican dollars, 53%. Government bonds steady. Closing quotations were: Atchison2l% Manhattan ....111 Am. Cotton Oil. 22% Missouri Pacific 36% Amer. Tobac.... 97% Michigan Cent..lol Baltimore & ONorthern Pac Can. Pacific.... 61% North Pacnfd.. 18% C. B. & Q... .. 85% N. Y. Central C. &St. L.. 45% Northwestern.. 105 Cordage B%’ N. Y.- &N. E Chicago Gas .... 68% N. American... 5% Chesap'k & 0.... 19% Omaha 43% Del. & Hudson Omaha pfd D. L & W ..... 170% Ont. & Western 18% Dist Catl Fd C.. 24% Pacific Mail.... 30% Den & R G pfdPullman Erie 11% Reading 21% East'n Illinoisßock Island.. . 76% East Tennesseeßichmond Ter Illinois Central Silver Cer 69 Jersey Central.. 113 Sugar Refinery. 109% Kan & Tex pfd.. 37 St. Paul 76% Lead 34 St. Paul pfd L., N. A. &C.... 9;%iTexaa & Pacific 11% L. & N 62% (Union Pacific.. 14% Linseed Oil(Western Union. 92 Lake Erie & W.. 23%! Wabash L. E. & W. pfd'Wabash pfd.... 22% Lake Shorel Wiscon’n Cent Government bonds stand at the following bid prices: Registered 25.... 97 Currency6s, '97.104% Registered 45.... 111% Currency 6s, ’98.108 Coupon 45111% Currency 6s, ’99.110 Currency 6s, '95.100 Coupon 5s t** *—**• 6s, ’96.101% Registered ss. ..116

Live Stock. Chicago, Oct. 9.—Cattle—Receipts, 17,500; calves, 54. Sales to dressed beef firms, shippers and exporters were within a range of [email protected] for common to strictly prime, with sales largely at [email protected]. The Stocker and feeder trade was as good as ever, and prices averaged [email protected]. There was a fair cow and heifer trade at easy sales being principally at $1.75@3, with limited numbers selling at [email protected]. Bulls sold rather slowly at [email protected], and calves were fairly active at $2.75@ 3.50 for common lots up to $5.37%@6 for good to choice. Hogs—Receipts, 33,000. There was an active demand once more and the bulk of the supply was sold at about steady prices, though yesterday’s top figures were not realized. Sales were largely at [email protected] for packers and at $4.05@ 4.15 for shippers. Common to choice heavy hogs sold at [email protected], mixed lots at [email protected] and lightweights at [email protected]. Pigs sold largely at s3@4. Sheep—Receipts, 30,000. The few choice flocks sold at steady prices, but medium kinds were slow and 10@15c lower. Native sheep were salable at [email protected] for inferior to fancy, few selling higher than $3. Western sheep sold slowly at [email protected] and lambs sold at [email protected]. Wheat and Corn. Closing prices of wheat and corn at the following named cities were: Wheat —New York —October, 65c; December, 66%c; May, 70%c. St. LouisOctober, 61%c; December, 63%c; May, 67%c. Duluth—Cash, 56%c; December. 57%c. Minneapolis—Cash, 55%c; December ,55 %c. Baltimore —October, 64%c; December, 66%c. Milwaukee— Cash, 58%c; December, 59%c. Detroit —Cash, 64c; December, 65%c. Corn —New York —October, 36%c; December, 35c; May, 350. St. Louis—October, 25%c; December, 23%c; May, 25%c. Baltimore—October, 36%c; year, 33%c.

Liverpool. J Liverpool, Oct. 9.—Wheat—Spot No. 2 red winter, 5s Id; No. 2 red spring, stocks exhausted; No. 1 hard Manitoba, 5s 2d; No. 1 California, 5s 2%d. Futures —October, 5s l%d; November, 5s l%d; December, 5s 2%d; January, 5s 2%d; February, 5s 3%d; March, 5s 3%d. Corn—Spot American mixed new, 3s 4%d. Futures—OotQbeFi 3s 4%d; November, 3s 4*44; December, 3d 4V4d: January, 3s 314 d: February, 3s 3d; March, 3s 3d. Flour—Pt. Louis fancy winter, 6s 9d, , „ PeorU. Peoria, 111., Oct. 9.—Corn—No. 2, No. 3, 28%c. Oats —No. 2 white, 18%@19*4c; No. 3 white, 17%@18c. Rye—No. 2, 40@41c. Whisky—Firm on the basis of $1.22 for highwines. Receipts—Wheat, none; corn, 70,200 bu; oats, 138,850 bu; rye, none; barley, 2,800 bu. Shipments—Wheat, 1,200 bu; corn, 29,250 bu; oats. 106,100 bu; rye, none; barley, 2,800 bu. ’ New York. | New York, Oct. 9.—Butter—Receipts, 5,460 pkgs; western dairy, 10@14c; western creamery, 16@23c; Elgins, 23c. Cheese—Receipts, 6,367 pkgs; large, 6 @B%c; small, 6%@9%c; part skims, 3 @7c; full skims, Eggs—Receipts, 8,257 pkgs; state and Pennsylvania, 19@20*4c; western, 18%@19c. Coffee—Steady. Toledo. Toledo, Ohio, Oct. 9.—Wheat—Cash and October, 65*/4c; December, 66%d bid; May, 6 8 Vic asked; No. 3 soft, 62*4,c. Corn—Cash. 31c. Oats—Cash, 20*4c. ' In Senalon at Syracuse. Syracuse, N. Y., Oct. 9.—The ninth triennial session of the national council of the Congregational churches of the United States opened at 10 o’clo. a this morning at Plymouth chu’--' d KT,T. “ r ® Bbby r “ e moderator. The afternon, Jt&sion was devoted to the reports ut the provisional and publishing committees, of the secretary and treasurer, of the trustees and of the committee on ministerial relief, after which a paper on doctrinal preaching waa presented by Rev. Janies Brand of Ohio.