Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1888-10-02
UN CHANGE.
Wbecs WAS NsrYsEF, FIuc'Us'sd Wii:Iy
sad CIossd Sc an k5yspcs-The
Monty Market WAS Essy.
Wool Unchnnged-A Strong Upward Ten
aencY In Collective Stock Treps-
actions were Brink.
Daily Reusw.
GkzsrTs CvrIcG.
hNEr NnEyR TsI. OFT 1892

SJ SSNAS~ 49, AaN s--'
presages well for the month just ineugu-
rated. Joobers on the Fort Worth mar
kes have done sn unusUslly heavy busi-
nsss, and Retailers have been pushed to
their utmost capacity; indeed, s leading
grocery house says the trade Of to-day
has been the best they have had in the
past six months.
The receipts Of cotton have bean the
largest to-day Of sny day this yesr. This
is owing to the fine weather and the good
condition of the Tosd5 lesding into the
city. Tn price is 8 little eff, not more
than So having bsen paid for the best
grades. Nest OF the cotton coming in
classes above middling, none having been
msrkstsd ID Fort Worm this year thai
clsssed below thst grsde.
The Pailadelphis Record says: II WAS
: wicked turn Of the screws sghiust the
WiDd sellers that sent the pr ce Of whesl
I'D % cents per bCshel n the Chicago
market yesterday. ne unnstursl ON
ditioa Of tie market was sufi iently in-
dicSted by tie fact that while September
settlements were bang made 81 81 20 per
hushel tie price Of the October option
did not get sbcva S1.O04 The enoms J is
now presented OF market prices 25 cents
pei bushel Higher 81 tas source Of supply
than they are upon the Atlantic %seaboaCt,
End several cents per bushel higher az the
latter point than thsy are at Liverpool.
There IS abundant ressnn for higher
prices for whea. than the figures st which
1t has been selling in this country for the
last three years; but the present hign
prices in Chicago market are out of ali
proportion to the general level Of wheat
values throughout the country, and are
purely speculative.
Toe New York Times CT September 26,
says editorislly: "Lsst month we pointed
out the causes which we're forcing up the
price OF wheat, End from these predicted
thrs 1t would sell at c dollar s bushel in
Chicago this month. At the time that
was written the price Of cash wheat there
WAS between So and 80 cents per bushel
1t is now selling at @ dollar, and has 0eel
Quoted about tnat figure since Saturday,.
This Is the price for the ordinary specu-
lative grade, No 2; the better qualities
| are selling higher. While the casa
article hiss been rising the Decen-
Der option, or wheat fer delivery
that month, has OF course been rising
slso, and at present the speculst ion is
running more in that option tbsn sly
other. o. Monday it rose from go 10
Sc; yesterday 1t opened st $50, rose to
9sf, fell buck 8 fraction CT sc, sni closed
a. SO! virtually the best prlcs CT the
day. rbe trnGiIg was enormous IN vol
ume and tide market was highly excited
sill day. Il is confidently expected that
the December option will sell well over
81 b-fore the month is cut. 1t Is uniJTtu.
nate thst the rise in the price Of the grain
is not due to foreign dem4ad
though the exper 9 in the trade cay that
this demand is as sure to come as that
Europeans must eat bread. To make
bresd they must have wheat, and Iadia
and Russia are the only exporting coun-
tries which have & surplus this year, be-
sides ourselves. Il is the dem )nstra!ion
that our own surplus will fall muca be
1oT: previous estimates which IL putting
Up the price of the grain In
the mafkets. The. thrsshiDg returns
are generally disappointing.. The grain
Is inferior in quality and The quantity
short. From the returns referred 70, dis
sricts IN Minnesota and Dakota which
were expected to yield IA TO 20 bushels
per acre ere yielding 10 to II: those in
which 10 we're counsed on yield s In the
section of the great Dalrymple farm 7 tc
8 bushels Will be the average yield. Tne
leading miiiers Of the west ere supposed
TO hsve bough. up al tbs best grades q
wheat now In the market Hence, wheat is
selling higher at Minneapolis aad Duluth
than St Chicago, but this means better
wheat than She Chicago grsde, or at less'
the p'cE OK those grades. At tnis Tins
last year these grades were equally sell
ing below Chicago pricss, the miller
being SOle to keep down the farmers
p'icss. The Minneapolis snd 81. Loui!
millers hEVe s high Standard OF -four Il
! keep up, hence the yirtua. corneYilg O
the best qaslities OF Whsat by tham l
is cot for speculative purposee, but 70.
grinding intU f lar for coUsumprlon. TIT
%slackness CT the European demand, c!
, compared with what hsd been looked
, for, has been due to the expectation tina
oy waiting the supplies would Increase
and prices decline. II ia becoming Sp
, parent that this is q mistake. Oar *.
; portable surplus ia diminishing, and L!v
eTpool buyers will be disappointed if the,
. count CT much wheat coming from thi
eide. Whest On passage is repJrted t,
show S decline. The next thing in orde
will be 8 rush OF buying orders fron
abroad to fill up depleted stocks, and th'
grain will have to be b5rght at highe
than present prices.
v.r Ee-, -e-, Ha-rerr.