Telegram-herald., 1889-10-30
THE OBSERVER



Il ls lie most sArel abe coaul0d - ~
lne market. EeeelL reductions from
previous hlga crop esNmstes encourage
holders % hope for Improvement.
Tie DAILY ''eheat market b.aekboarts'
are Indicators II unrelabAty. Iae
Chicago figures set forth yesterday
showed that ID 0ns day. s business ,l25. p
59s bushels had been received at points
OF accumulation and only % 99Q bush
els h4t left the Atlantic coast, though
exports of 5oaF increased tae total -
IA equivalent of 10000 bushels.
Later GA the visible supply report Vas
posted showing an increase Of =, ,455 $50
0f stocks .'ius.de." TINS i close 20 tine
llslde est mates ~ Saturday and caused
the markets ~ break OF sharply. Ia
course Of few minutes the net gam
I'd JW0 days was lost. lAe "0ulglless"
departed, leaving the market sprilless
and heavy. soon after lot Of long
wheat made It's appearance on de-
cline OF % 1 per cent, and the bears
were again encouraged % extend their
lines THIS caused a recovery from the
bottom prices and decidedly increased
activity IN trade, but closing record
showed net loss OF I u per cent. Up
came the bulls and with them up came
the wheat, only 10 take another tum-
bic. There is no reliance % be placed
IN the wheat market reports from the
large purchasing stations, and he who
Plus his faith and fate on men dealing
IN wheat margins IS sure, sooner or
later, 20 20 down.
There are no distinctive features in
the wheat deals beyond an evident
cooling down" and ''warmmg up" of
the bulls and bears. While stocks con-
tnue 20 accumulate rapidly and cx-
ports DO not improve. the friends OF
wheat find themselves bcset with
doubts aud discOuagement. The
failure OF the primary movement to
fall OF As expected, and the inability OF
the bulls 10 generate popular enthusl-
asm on that side has again encouraged
the bears.
The volume OF transactions yesterday
was rather above an average. There
was quite u battle around bottom
prices, determined effort beng made
by the bears toward the close OF day
% force a further decline and make a
wind up, but the bulls made a strong
stand and successfully checked the
raid. As before noted, the closing was
at a slight recovery from inside prices.
Estimates call for 10 ears OF wheat
/ Minneapolis today, 63l cars at Duluth,
and 325 ut Chicago. The visible supply
as reported, Is now 81 SOC, 900 bushels IN
rms "a
year ago.
The English markets seem firm.
/ Liverpool is quoted rs tending up for
American wheat and private dispatches
confirm the strong tone OF the public
/ cable. The above Is about the only
/ announcement received by the bulls
/ IN the maintenance OF presentsprlces.
There IS a fair degree of activity IN
| the corn market and a decidedly
| stronger tone to 1t.
Wheat receipts at three principal
ports Yesterday were 5000 bushels
against 80, 900 one year ago same date.
Wheat receipts at three principal
ports yesterday, were 226, 900 bushels,
against 6S, 900 bushels a year ago yes
4 terday.
/ Stocks OF wheat at the principal
a A41l4t4N kfOl u, 4OON AAlo AAAttAA - wv
/ 600 bushels against IL $50, 900 year
| ago yesterday.
May wheat IS now selling at a pre-
MUM of IS cents over December. The
difference has been slowly widening for
/ some time.
December wheat sold in New York,
| Yesterday, at So 7-Sc. and 81 5-Sc. In
/ st. Louis, December wheat sold 7Slc.
In Duluth, December wheat sold at
8lic. In Milwaukee, at 73lc. In Balti-
/ more, at 81 7-Sc.
The newspapers throughout the
! country are pointing OIt inconsistent
cies IN the proposed plan OF the farm
ers' confederation, which recently con-
vcned III st. Louis.
Railroad freights in Great Britain are
Il per cent. over the average on the
continent, and more than double those
| of the United States.
The Pacific Coast salmon pack thi:
/ year Is l, 200 900 cases, about 100,00C
cases more than last year.
The hog market closed firm last
night. Packers bought $1,000 hogs anC
shippers purchased 5000. Left over
about 5000.
EUROPEAN CROPS AND MARKETS.
Austria-Hungary exported about 26,
| 600 900 bushels of wheat and flour dur.