Barton County democrat. [volume] (Great Bend, Kan.) 1885-1915, 1888-10-11
Unsettled Condition of the Wheat
Market in Chicago-Anoma-
lous Prices.
influence Of the Wheat Fever on Rusi-
ness-Trade Relieved in the
South.
Collections in Kansas Slow-Increase in
Bank Olearings-Bradstreet's Business
Failures.

tame and iifelesS yesterday morning, but
after lounging around for an hour in the
vicinity of $1.l3 for December it took
sudden boom to $1.I4, to S1.16, and before
noon to $l.ls. After this big bulge there
was a reaction to $l-16,s, around which
price it seemed to hang for some time.
number Of the longs were afraid to carry
wheat over night at these figures and sold
out just before the close. December was
thus let down to $1.I5S and it closed at
$l.15x.
The wheat boom seemed to start when
Ream and Jones found that Hutchinson's
brokers were trying to pick up all the May
wheat in sight They at once took steps
TO head him of, aud the crowd began to
buy. Previous to this time Hutchinson's
brokers had been picking up considerable
May wheat on the quiet, and the crowd at
large was selling its December and buy
ing May. This. OF course, caused May to
increase its premium over the nearer
futures.
The sudden demand for wheat was in .
measure stimulated by the condition of af-
fairs in the Northwest Cash wheat at
Duluth advanced ~ cents in the first hour
or two and the futures were up in about
the same proportion -.
The temper of the trade is wildly bull
ish. Jones. Kennel & Hopkins advised
their customers AS follows: t'There is an
active demand here for milling grades of
wheat and they are advancing in price
There were Is, 600 bushels No. taken from
store by millers to-day; would buy wheat
on soft spots. Everybody has sold out
and the market holds up WE'LL" This was
sample OF the advices sent out early in
the morning when the market was the
weakest. All of the commission houses
are, however, calling for more than the
usual slender margins. sell
BRADSTREET'S REPORT.
NEW YORK, Oct. 6.-The movement Of
by kilograms to BradStreet'S from many
centers of distribution has increased with.
in the week. The cooler weather has
stimulated some lines, while improved
crop prospects conditions have been the
governing influences in others. The gem
eral raising of quarantine restrictions at
hundreds of towns in the South has, Of
course, greatly benefited the interior mer-
chants or dealers in that region. An in
crease in the movement Of cotton in Texas
and elsewh here is noted. Mercantile col
lections have materially improved
throughout the regions tributary to Cleve-
land, Detroit, Burlington, Ia, and Calves
ton. Kansas collections, as noted at both
Kansas City and at st. Joseph, are rela-
lively slower than in adjoining States.
Stock values continue to advance in spite of
the reactions and cautious feelings aroused
by the wheat speculation and the higher
rates for money here and in London. The
New York money market Is firmer, and
rates have been subject to some manipula-
ton. Foreign exchange is higher on the
advance Of interest rates in London and
the scarcity of commercial bills. Offer
ings of bonds by banks for redemption by
the treasury have been unusually heavy.
Business failures reported to Bradstreet's
number LAG in the United States this week
against 156 last week and 1S4 this week
against % last week. The total failures in
the United States from January to date
is I, 476 against Z, 100 in 1887.
DUN e CO.'S REPORT.
NEW YORK, Oct. 6.-R. G.. Dun & Co. 3
weekly review of trade says: The great
wheat speculation has been the absorbing
feature this week, for, though the Septem-
Der corner came to an end with heavy
losses for sellers, it left the market m such
state that much higher prices for other
options were easily obtained. With De-
cember wheat at $1.1S at Chicago, there
came heavy selling and sharp reactions.
But the state of the market is still against
all reason. Cash wheat sells for more at
Chicago than at Liverpool and at
one time it would have paid to
ship wheat back from Antwerp to
New York. At New York sales of wheat
amounted to los, 463. 900 bushels-more than
three times the visible supply-and prices
closed 81 cents higher than a week ago.
Corn advanced 2 cents with sales of Is,
OO0, 900 bushels and oats q fraction. The
speculative fever was felt in other markets
and pork rose ST. per barrel, lard 81 cents
and hogs Is cents per 100 pounds. Coffee
rose one cent with sales of SIG, 500 ags and
oil nearly one cent with sales of 6, 73s, 900
barrels In cotton there w6s slight de-
cline Of one-eighth cent with sales of &c.,
600 bales. The wool market has been
steadily strengthening with advances
mainly in Ohio fleece and combing wool,
but the average of los qualities is hardly a
quarter of a cent higher than September.
Reports from interior points are uni
formly favorable outside of the influence
of yellow fever. At Nashville and some
other points considerable striugency re-
suited from the interruption of remittances
and the seif-dafensive measure of the
banks, but the situation is materially i'm
proved. At many Western points the
tenor Of reports is generally good. There
is less complaint as to collections and
money is Increasing in demand
and the volume of business is en-
larging. Outside of New York the
bank clearings show a gain of los per
cent over last year. with a gain of 1913
per cent. here but they are greatly swelled
by speculation at Chicago and other
points. The demand for iron increases,
aud at Philadelphia the advance in pig
iron is deemed equal to about 81 per ton.
while remarkable Improvement is seen in
the market for bar iron. SO long depressed.
Fraudulent Merchants Captured.
MnwAUKEE, Wis. Oct 5. Eighteen
trunks, filed with 5000 worth OF fine
silks. etc, which recently arrived from
Chicago. were seized by the police at the
American express office to-day, and their
alleged owners-Samuel Winsberg and
Adolph Bariing-both OF Chicago, placed
under arrest. At the station they admitted
from ]. v. FarweIl & CO.. and afterward
turned them over to Darling as security