, 1879-01-01

demand all through 1Ast winter WAS unusually
good, tho lluasinn supply having been also IN
Eastern question wn* far from being settled At
thc npcning Uf the rsfcul1ar yeat. and nauv
people WIRE afraid thnt ali Ettorc wouid
be IN . hlazO II the spring. Ia'' ri,,1 inl,leea
Sustained by this fact aud. BY low ffefghts,
which enabled the prop9tty to be laid down
chcap1y On the scaboartl., There were aeo some
1ears Tor tho saiety Of te coming crop o. winter
with cold weather ia March, but increasing
prospects ot pesce somewhat retarded the
forward u1orcmrat. A prominent firm Under
clutled to retlrc, and closed up the deal ~
shout the k5th, making iAtr profit. In April
soue Isrec export orders were received, and
there - Big speculative demand whsu s It ' wss
between Great Britain and Russia. The nsra
TINT England had called out her rrserEes
caused an advance to $t.14 on the. 2'th Of
April. which was the top point Of tue year.
The market
DECLINED FROM THAT DATE,
and tended downwards during the remainder
Of the teaT: except during a lev special sptrts
If speculative confidence. which were q short
duration, though great deal OF capital was
under wheat on several occasions.
The wires were laid In April for another cor
ner In May. but the deal was run on tlle March
abont tue middle Of the month TINT IL would not
be Wise to tcontinuc to the litter end.' anu
Iisconatei great many who bad proposed 10
take advantage Of asqnSezs at ths close OF the
controlling the dea! ran the market up from
$l.U0 to SLID, and aato,tly stepped out. the
next morning the deal fell all to pieces, The
market declining from :! I'd 10 Csc. Rnd leaving
about 300. .0O0 BIZ on tho hands OF men who haul
expected to sell It at a big profit. The market
was weakened In the latter pare uf this month
by immense receipts, aa,5A carloads and 434o0
,toro TO- a. on soHdsv. tbe s;t. The These Results caused
exporters to tlold oh,-tlloY tbok very little dur
Ing the Inst twenty days Of May.
Tho next month the foundation was laid for
the big event Of the year IN the speculative de-
partments OF tho Hhtnt market-thc wel!-known
ARMOUR cnt,NkR or 1uLy.
About three local frms commenced buying 10
was good deal Of talk about a corner; but the
thing wna managed so atlrotly that nil fears
vanished. IT is believed that great den! Of the
wheat wns bought Tor export. and TINT large
wintcr.wl,cat districts. About the I'D Of Jnly
the Chicago shorts Grst began to fce tnat they
were hopeless1v corneret1, aud from that time
III tho aate OF the Solar Ecl'p.e tthc Asth) the
OF Trade for tho prevention Of corncra wcro ot
use in preventing prices from hrnR rushed up
TO cut.throat point. The market reached $l.11,
tablishea Mt sios; It which figure tha long.
made biz praAt. They wrre mt 50 successful
in Milwaukee, as they bought good deal u
wheat n that sity up 10 s1:ls !nons under so>
The corner was helped by the july blight on
the spring-whcat crop. which was nearly de-
stroyed in some sections hv the extremely hut
10 what ltttlf they held, sons of them fearing
they might want Il for seed. The grntn was 20
scarcc to buyers that the milcrs In Minneapolis
paid ~ high as s1.oo per hu Ii that city for
After July the market declined heavily. The
signing Of the treaty Of peace at Berlin. and
tho prospect Of an abundant yield Of winter
wheat, DESTROYED confidence IN the future OF
wheat, and tho sltnrts sold the market down
with d vengeance, forcing 1t To 6:lc on the e7th
OF August, though the wheat sold tNo. spFtng)
cams In very slowly. The farmers iu tho spring
thrn,. uni did not rcasiiiy ociieyc the crr ot :
big wtntrr wheat crop. fcnco they were ut-
willing 10 sell at thu low priccs then current.
while tho winter wheat poured into al Interior
rscs'YlnG points IN uunsua1 yolumet and caye
Chicago her first experience In halld!tnG wlhtcr
wheat on u large scale. Then ersucd the we'll
known .'mtxing ~ mexcitcmcnt. son'e short sell~
wheat spoiled for milling purposes BY mixing
with tho other. Tie winter wheat WINS taken
very freely. for shiDtucus, TO tho neglect Of
spring, aud when tho movement In that
selvcs TO ths lower grades Of spring. Ieav-
lug the No. Q to be PILED up in store and
satrted 90 ae,isss Il eo"trscts: ThS NJ :oalM9
ference IL value for milling purposes wus un-
derstood to be not more than 5dGc. At the
clots OF navigation no md all ,37l bu Of tho
No. in store here tsttlwuukre lad Nt}, ,aa3 bull,
scarcely 150. 600 bu of It having been shipped
out during the two mouths prege!ng, ard TINT
mostly IN the latter part of November. The
stock has yfnre then increased rapidly unter
coutinucd lurEe receipts NTH snin,l ahipHlnK
movement, The stock In store at the close Of
tLu year ~ glscn In another cpsnMN.
The market went duwn almost steadily I'M
der an Increase nf stocks here and cfscwll llrrc In
spItu Of au extraordinarily largo export move.
Inent 10 Europe, I'LL II touched tic for spot Un
the 1Gth Of Outoher. Then lot1l combination
took hold Of It, mud carried tho market np tu
Slc by tho close Of Tho month"; They ware fol-
lowed by combination of
NEW ToRx OPERATORS,
who wrnt fl to the tunc OF .lve or six million
bu as au Investment, w}irll they propose to
carry into tho aurlng. The crowd of operators,
however, refused 10 believe TINT It WINS any,
thing moro than an ordinary speculative deal,
unler which tho winnie stock IN store might bn
unloadcd on the market ut any moment; anil
part Of November, though the foreign atlylcGs
showed general hardening OIL tl.s other side
ot tho Atlantic, which wns attributed to lncrras-
"a cost OF transportation. The market during
December WA moderately steady, with stiglIt
exritetnents due to war ruulorx, REPORTS 0t small
TT deliveries In the country, atsd reduction 0f
IresEhts to ths East und 10 Europe.
The following tatle shows the monthly range
lnd tho average pt1ce on No. . sprths wheat
throughout tha ycar:
AoNlh. L0hrtsf, {ifoksst dr.raos
1ANQRfy... l.01 i.HIls / III N