Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1891-08-20
STILL SOARING.

/ Z (
December wheat Reaches @1.0s at Chr.
cage, ihi $l.15 Mt New York-Big Ads
vance in Ryc-Exciting Days on Change.
Cu1cAGo, Aug. 17.-The local dealers
in cereals completely lost all control
over the wheat, corn and rye markets
Saturday and many times they
as clearly lost control over themselves,
There has been seen no siich wild. excited
scram bles-and that is saying much
since Hutchinson's famous wheat
corner in the fall Of 1888 Outside
dealers were as much at sea .as the
Chicago specultors. The story is only
! barely indicated by the closing quota
tions. which show 65sc advance in
wheat, Sc in rye and 2Ac in corn.
/ The excitement which characterized
the trading in the wheat pit Friday
was d,iadrupled at the OPENING. De-
cember, which was being traded in at
99Nc at 1:15 Friday, was wanted by
hundreds of believing bulls and roar
ing bears at from $1.O15s to $1.Os4 the
moment the bell tapped.
Business for about one minute was
done on an enormous scale at from
| s.. O3 to 81. O2M, and then for matter
! of five minutes the crowd made ur1=
| animous rush to sell and the price
tum bled to $1.O15s. It's stay at the lat
ter point was short; the same unani-
nifty which had for a few min
utes been in favor of the sell
ing side now changed and it rose
to S1.O2 at which point sellers
entirely withdrew until the apparently
crazy buyers had advanced their bidA
to Los. Some sales at that time were
made as high as $l.O54 before it once
more began to recede. The reaction
following the latter bulge stopped
when it got down to S1.03A. The
market acted exceedingly firm, with an
upward trend reaching to $l.O4k and
back again to 81. 04 a few times, and then,
as on the preceding bulge, the entire
pit full of perspiring, haggard and ex-
cited brokers yelled their bids, and as
nothing but higher and still higher
prices could induce anyone to sell,
bids of $1.05, $1.06, $1.O7 and finally
$l.0S were Numbered simultaneously
from 500 husky throats as the price
shot up. Succeeding the fluctuations
already given there was a decline to
! S1.O515 and the close was $1.06I.
1t would have been an exciting
day for spectators in grain if even
wheat had remained stationary Corn
was only of secondary interest because
as rule the crowd trading in it is
smaller than that in wheat. The fuc.
ations were frequent and of sui.
cient severity TO be called sen.
sational and, as in wheat the
trend of prices was strongly
upward. September, which at one pc
riod of the session sold as low as 5000
only reached its pinnacle when il
touched G51sc; and it stood at 621ac al
the close of the session, or 2At
above the point it stopped at Fri
day The advance was due for thu
most part to the excitement in tn,
wheat market, and that was taken ad
vantage Of by those who are workin:
the bull side of the deal. Oats hardl,
kept pace with other cereals, the ne
gain amounting to only A@2sc. Ry
jumped Sc, closing firm at $1.O4 TO
September. This was the top pric
for the day, 99c being the opening an
low. Trading was active and Their
was considerable fluctuation between
the extremes.
Conservative traders pronounce tn
character of Fridays and Saturday
market stampede The shorts GO
! badly scared after the experience of E.
! Pardridge who is said to hav
dropped nearly $1,o0o,OoO on tn
bear side. At the same tim
there were unusually heavy buy
: ing orders from foreign coul
< tries, and every short trader rushed
cover at sacrifices ranging all the wa
t from Is cents to 20 cents bushel I'll
| sacrifice had to be made, and it we
) bravely met and manfully stood, b.
cause there was not even rumor
| the collapse of any firm.
Experienced brokers claim that the
see nothing extraordinary in the rusl
: and they maintain also that it cam,
, last very long. At present the farm
f ers deliver little or nothing. The sprir
wheat is not yet harvested, and Il
: supply of winter wheat. is exceeding
:, small.
b NEW YORK, Aug. 17.-On sales
s 11,50O,000 bushels in option, whe
prices in the short Saturday market
\ only one hour and half rushed I
over five points at the produce e
change The bulls were in full co
=, troll. Cables reported the foreign ma
ket booming on news of tt
American rise. At noon, when tt
:" market closed, wheat for Septemb
i delivery was selling at $1.131s, aft
a day Of extraordinary nervousness
5 There was virtually no rye to
Is bought at any price. The wheat ma
5. l1et opened with shorts panic stricke
r They rushed and climbed, getting
a out of the wet at 21S@3c advance fro
n the close of Friday night. 1t was
short panic started by disappointi,
Il cables.
$, The advance in the price of r
abroad had some effect, and it
,r now over the price of wheat. There
:, a corner here, not artificial but natur
n and rye has risen 80 cents a bushel
ten days.
G. In the local markets Septemt
re wheat opened with simultaneous sal
ranging from 81. 091a to ST. 10, as agar
90 S1.O77S at Fridays close, NIL of t
at other options being similarly stror
December started at Sill to 81.
e. against $1.o91s. Trading was en-
I'd nous, and within an hour Decent
IS touched $1.15, closing at $1.14B, VIII
September closed at $l.13A.
in --- --------
H. Davenports River Carnival.
tn DAVENPORT, Ia, Aug. 1.-THE tn
lie annual river carnival will be Civ
here September s. The unique dem'
is stration will be attended with unusl
a splendor this year. About 500 DO,
Il fl,o Aonf xr,1,;o1, x,,:n 81