New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-10-04
FEATURES OF NETWORK DEALINGS.

| review of such wheat speculation us that Of
| yesterday can be briefly made by recitlng the few
facts Of the advances in prices and the estimate Of
TONS leaving description OF the excitement
to the local columns and ignoring the gucsses Of the
future with which all downtown is rife. The sue
cess Of the holders Of contracts made By people who
had not goods to deliver could have reached It's
present magnitude II there not commercial con-
dltions at the bottom OF the deal" Europe has a
large cereal deficiency and the United States hoping
for good supply to fill It with finds serious short
age In the Northwest. But such commercial con-
dltlons would not have impressed prices to the cX
tent they have done II Europe had not for two or
three years pcrsstently sold contracts to deliver,
gambling upon big CROPS here, at home and in the
countries competitive with America. Through this
period the farmers OF the West have had low prices
that turned them in rage against the railroads anu
their the authors OF their misiOrtuDes Ihey
a prospect Of reasonable returns from tho
a~sinst dear bread5 The scarcity of cash goods
upon which Europe built up is short speculation re-
mains ana the wlidnea5 oi thg recent sIccuai,o
tracts which the present shorts have been relying
upon as means for e;cape from previous contracts
a liquidation of the short contracts of the world, the
sellers being the men who had faith In me value OF
over a0.U0o,000 bushels OF wheat options made tho
record Of the day c dh pPsns o ss and m
tho close and after there was continuous ana eA
fed ang The % bs Ma and eDera TO CONE
mission houses absorbed their offerings. The official
closing figures OF wheat options were at gains of %
for OCTOBER at 81 i 3S, IA for November al
.i 10 81. IL tor December at 81 10 H. and II
cents for May at ~ Is Ia Spot trading Is almost at
sandstill until the liquidation In speculation is n-
i,hed. Quotations are SAB IL cents higher. Flour
doomed with the wheat market and prices advanced
% cents and on some grades, 80 cents barrel The
home trade good buyer, as it has been for the
last three days, taking 10000 barrels a day on an
average The tone of the wheat market nj the close
cannot DO given; " on the curb' prices still showed
risng tendency.
The bears In demoraized by the wheat
excitement and they bought freely, advancing prices
sharnv on a volume of business amounting 10 nearly
1000 900 bushels. Tho close was weak, however.
a the advances of the day being lost but still
leaving final prices with gains of - for October az
so | Is for November at SO. and rs for December
at 81 81, January being unchanged a. 40. and Nav
down 10 cent at As cents Cash corn was la
IA cents higher but shippers took ~ 900 bushels,
and a moderate home business was done. Oats
were strong. and after small reaction ended up
3sG5S cents at 80 for October, 81 Is for November,
and 80 Is cents for December There were no sales
of srDt lard. but The options showed final gains OF
5G II points for October at S11.3O 50 % for NOvcm
ber 81 December. IS 20 for January ~ 80 for
February, SS - for March. and 50 06 for April.
receipts Of -four and grain reported Yesterday at
New ork Baltimore. Philadelphia and Boston were
as follows: wheat. 1Gl.354 bushels corn. 221 .s33
bushels oats, 134.5G9 bushels; total grain, 5l7.756
bushels -four, 42.475 packages At Chicago Mllwau
kee and S. Louis the arrivals were: Wheat 21s.Ge0
bushels corr 81 5G7 bushels oats, 41O.54O bushels
total grain, 1o8o,7s7 bushels; -four, 1888 barrels