Telegram-herald., 1891-08-19
WHEAT NOT 50 ACTIVE
The Recent Furry IN the Marker
Apparently Over.
SETTLING BACK INTO SOBER FIGURES
Little xxeissmsat en- the Chicago Board
Of Tsaas @t prsssnt-A slight Drop
in the Pries-MArksts IN
Other PArts.

CHICAGO. Aug. is.-Bosrd Of trade
markets were less excited than for
several days past but there was a
nervous feeling and jerky action TO
prices in all the leading articles and
products Decembs wheat sold
sl.oS TO eLe41 To t.oiI. and
closed at si.o7ti. Corn was very
strong. and after selling At 6asl cents
early advanced 10 oes cents late in
the day, and closed at o53l cents Rye
was sssisr. selling between 9s cents and
81. Provisions elosed hrm, with pork
20 cents higher.
IL is easier 10 ask than TO correctly
answer the question rs 20 who has the
money in this big advance of the last
ten DAYS. but the opinion generally
held Is that the profits on the abnormal
advances have for the most part gone
to the east and to the foreigners with
the western operators the under dogs in
the xsht. With the brilliant outlook
for the growing and maturing
crops for weeks and weeks past
traders in tho west have been possessed
with bcarish inclination. Believing
that with the prospect of one Of the
biggest yields on record, and that per-
haps the reports of serious damage to
European crops had been greatly ex-
aggerated, they concluded that moth
ing could prevent prices reaching
figure away below 90 cents Show
ing their faith by their works they
sold largo limos In the nineties, be-
lieving that subsequently they would
be enabled to bNy 1t in at figures much
below those aad thus secure large
profit Not only did the professional
spectators trade in this manner,
selling large lines to foreign buyers,
but what Is familiarly known as ''thc
country" went short all the way from
5000 bushels mp. They could not an
ticipate the actions of foreign markets.
however. and in spite of the fact
that the big receipts of new winter
wheat were quickly swallowed up by
purchasers for home and export ac-
count prices climbed skyward until
they reached a point Monday fully %
cents per bushel higher than the low
may not mean anything, according as
they are understood. but this advance
OF - cents within the period of q week,
taking the lowest and highest points,
means that during that period wheat
appreciated about 25 per cent in value.
Taking Mondays receipts OF new
wheat at western markets, or 1,o2o. 900
bushels, which recently left farmers
hands, an advance in value Is shown Of
$685., 900, supposing it had all been con-
tract grade. OF course these PICTURES
are suppositlt;ous, yet It is no less fact
that the up tura Of last week has en-
hancsd the vaiue of the crop many
millions of dollars, with actual sales OF
good milling wheat in this market Mon
day ut SI.Oe@1. 0Tx per bushcl.
Bankers md merchants generally are
greatly encouraged over the outlook
for trade. They express the belief
that money will he easier and that
good times generally are to follow the
advent of large crops and fair prices
The crop is large, the demand good.
hence the movemen of money becomes
free.
IN NEW YORK..
NEW YORK, Aug. 1G-There were
81, 900. 900 bushels of wheat bought and
sold by the spcculators around tho
wheat pit at the New York produce
exchange Monday. This was about L.
500. 900 bushels more wheat than tho
entire supply Of the country. Moth
ing like this has been seen on the
produce exchange for twenty years.
The net result of the day. to
sum up the situation, was a
drop of from to S1S cents a
bushcl. In brief. the course OF the
wheat market for the day for the active
months was as follows:
August-opened at sl.Is%@1lsl<;
highest point. 81. IA; closed, s1.11M.
Septem mber-oY-,ned, 81. l.13@1.15; high
est point, Si.i5; closed. sl.I1A. De-
cembcr-opcned, 81. l4jf@L1s; highest
point, s1.1s; closed, sl.l3. May
opened. s1.lsk@L2i; highest point.
s1.31; closed, 81. 16x.
Rye sold as high as Sl.1S bushel
but broke to sl.oe,f@L1o. Corn went
mp cents bushel for August and Sep
rember deliveries and lost 1t in sympa-
thy with the wheat decline. August
options sold for II cents and closed nj
75S cents. September deliveries
opened at 7o}< cents. reaching "a cents,
closing at TAX cents. October corn
opened At eax cents, went up to II
cents and sold at the close of the day
At 20 cents These prices are about ~
cents lower than Saturdays last One
days trading aggregated 1900, ooo
bushels
BALTIMORE. Md. Aug. ls-Thiugs
are qrieter on change. and there was
some reaction both in excitement and
prices. Wheat sold at 0s9l 10.
southern wheat declined cents per
busheL Corn was steadier aud fou,
sold at Mondays prices. greater