The Saline County journal., 1891-08-20
THE GRAIN MARREr

THE past week has Eeen a remark
able one In the grain markets OF this
country, aud the widest scenes that
have been witnessed for years, were
presented to visitors at the various
Boards Of Trade. Men worth their
millions, crowded In the pits, were
wild with excitement, and with dis
cArded coats and hats clawed each
other like wild beasts. The markets
began to show nervousness last FRI
day, and December wheat closed In
Chicago at sI.OO, and rye at SO cts
Exactly what caused the sudden rise
10 somewhat Of q mystery. Some
claim that speculatOrs are at the
bottom Of Il, while others, that Il IL
the foreign demand for our grain.
One Chicago specuIatOr said Friday
evening: "Yes, 10 would look rs II
the bulls were doing It all, but I can
tell you very few bears are standing
out and the bulls are fooled about as
much rs the bears I think this
furry II due entirely to the condi-
ton Of the affairs abroad. However,
ten days ago we laughed at our New
York agent who sent US kilograms
intimatiug as much His opinion
has been fully verified"
Another broker said during the
excitement: Europe must have
our wheat and we must and will
have their gold"
On Saturday wheat made fearful
leaps, first up and then down again,
aud at o'clock, December wheat
had reached CLIO, and calls were
even made at ella to sl.1s. st.
Louis was equally excited, and after
the hammering had proceeded far
enough to have broken one-half Of
the spectators Of St. Louis, they
simply agreed on Q settlement for
the day. and quit business, else .
financial crash would have resulted.
On Monday In Chicago, wheat
fiuuctuated during the day over
eleven cents, something that Il has
not done for years. The top Of the
was really ala, although
one transaction was made at 81 Is,
when Il dropped back and closed at
los. All this time rye was q close
second, and closed on Monday, after
\ nine cent fluctuation, At 81 O2, the
highest price for the day being sl.lI.
II the present advance should keep
~, Sallna will soon get sl.OO for No.
wheat, but there seems to be some
loubt about what turn Il will take.
sundays Kansas City journal, In
Pesklng Of the outlook, says: II
The question II, Can the present
rice be long sustained, let alone any
urther advances, that is, In the inn
Mediate future2 The most reliable
stimates place the entire yield of ,
be country at SIS, 600, 900 bushels,
Thieh exceeds the largest previous
rop OF the country, that Of 1854, by
lore than T2.O0,OO0 bushels. IL II '
ct unreasonable to place the export | r
BILE surplus Of the country nj e4O,-
D, 900 bushels, at least many con-
ervative and Intelligent observers
I the situation have fixed it at about
aese figures. This II certainly q n
cry large amount, and will 20 o.
ing ways towards supplying the Y
uropean shortage. It certainly is U
very interesting condition Of affairs q
nd fortunes are being made and un- m
lade with bewildering activity.
he only really happy man Is the
Irmer, for while the "bullsr and b
bears" are alternately swayed by C
y aud grief, the farmer sits on his NJ
heat bin confident In the know :.
dge that he has no margins to vi
AXE good, and that when ne makes
his mind to sell he can do 60 with
70 assurance that he has made A X
'ry profitable deal. a;