St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-08-15
WILD AND WORRYING
Bulls and Bears in Turn We're
on the Gpidiron of
Trade.
Amid Great Excitement the
Leading Cereal Goes Up to
One Dollar,
Closing With a Gain Of Four
Cents Over Thursdays
Top Price.
Excited and Vigorous Fluet-
uations on the New York
Produce Exchange.

QCHICAGo, Aug. 14.-This was another wild
and worrisome day in the wheat pit on the
board of trade. Prices went up and down
over very wide ring without any appar-
emily sufficient cause, and both bulls and
bears were alternately on the gridiron
though the advocates of higher prices had
the best of the situation and improved their
opportunities to the extent of ultimately
carrying prices to a point 1850 above the
closing figures yesterday, and the close was
&c higher. The bulls predicted dollar
wheat and their prediction was finally ver-
flied. This occurred close to the end of the
session. 1t was the elimination of a rapid
advance Of 27Sc; no effort was made to put
it higher and it was doubtless put to that
figure for its moral effect.
There were various bits of sensational
news chiefly of bullisn character; but the
great belief that the market is in the hands
of Clique of heavy operators was the lead
ing cause of the extreme nervousness. The
short side was quick to take alarm al the first
sign of danger and run to cover. The market
was wildly unsettled. A nervous, appre-
hensive feeling prevailed the crowd; there
were rumOrs of the trouble brewing abroad
which might result in war and cables brought
news of strong and higher prices abroad.
The domestic markets are all nervous and
strong, New York and st. Louis in the lead.
The local shorts VINO had sold so heavily yes
terday when the bottom seemed out OF the
market were thoroughly alarmed and bought
frantically Under these conditions the
opening was fairly wild and December sold
at 9jl2099c all within two minutes from the
first stroke of the opening bell against 955sc
as the closing figure Yesterday.
For time the feeling was strong but
there came free selling against calls and lib
eral realizing on long wheat. and there was
lag in the market. Later the New York clique
was thought to be selling. This STAN peded
the local bulls and there was something of d
race to see which party could unload first
and there was an irregular drop TO 9718c. The
market reacted to 91S4c, and was compare
afternoon, then suddenly the crowd was
seized with a buying fever, and, amid the
widest excitement the price was advanced
to 81. 1t sagged 10 996sc, but closed strong
at 997Bc
Late advices represented foreigners as free
sellers in New York and cable offers last
night were not accepted. Export clearanceS
were light; the weather in the wheat belt
was fine; the crops of Minnesota and South
Dakota were reported nearly all secured and
threshed, showing big yields. Late cables to
the board of trade report Berlin 2l2c per
bushel higher; Paris easier on near and
higher on long futures. dispatch was re-
eeived saying that Portugal had pro-
hlO4tCO tllC ILL pOlldtlOll VI WAOdb AIOul
Sep. 1 until the native wheat is consumed.
S. V. White d Co. were heavy sellers of
wheat on the early bulge, supposed to
be Eastern orders. Dispatches from New
York to Kennett Hopkins said
foreigners had sold over million bushels of
wheat there to-day and bought very little.
The Associated Press dispatch from Paris
giving an estimate of 92500000 bushels as
Frances import needs was considered bear
ish on the board, where this amount was
yarously figured at liz 600, 900 to 49, 600 BUSH
els. Shipments of 900 bushels of wheat
were made here to-day.
Corn was strong but unsettled, though not
showing as much strength as wheat. Shorts
were nervous over the advance in the wheat
pit. but it was difficult to buy owing to the
scarcity of offerings. September opened
at 5SS4c to SOC, and sold quickly to 59l2l
$3.50. Then on freer selling and the let-up
in the wheat boom, it fell to Sc. then rose to
59ssc, but broke eventually to 5SS4c, and re-
acted to 59lac. Late in the session, when
wheat went soaring, corn touched 6Oc, but
closed at 595Sc.
Trade was on a moderate scale, and there
was little in the way of news or individual
operations to affect the price. Oats were
steady to strong during most of the day,
fuctuatlng within q range of 2134M2S4c.
Rye was still strong and excited, September
selling to and closing at 96c. Provisions were
quiet but firm. Pork for September delivery
Kept between 50 so and $685. till wheat scared
near the close, when pork jumped to $10.12l2,
and closed at 5000
The leading futures ranged as follows: