OCR Text |
Show NEAR THE DOLLAR MARK. May Wheat Takes a Skyward Shoot in tho Chicago Pit Armour . on Long Side. J Chicago. Jan. 20. May wheat touched a j ntw high mark-MUIJflZll cents today, a net sain for the day ot 2',J cents and 16 cents higher than the average price last fall. The local wheat sltuntlon as regards re-gards prices is highly artificial, as Is shown by the character of the trado which caused so sharp a gnin in prices. Armour Is credited with a long lino of 15.OCO.0M bushels contracted for May delivery. de-livery. IocaI contract stocks aoaroxl- mate only 2.000,000 bushe6. This comparison, which agitated shorts yesterday, stirred them to excited activity ac-tivity today, but the best they could do for the most part was to shift the burden bur-den amoni; themselves. Nothing that looked like Armour selling could be discovered dis-covered On the other hand con.-Idorablo commission-house bulng wns credited to tho paramount interest. Private messages received here today Indicate that a considerable con-siderable quantity of the short wheat on the Armour books was put out by Enst-ern Enst-ern people. May corn and May oats, control' of which Is generally thought to be closelv centralized, also advanced sharply today. |