Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-08-13
THE EXCITEMENT IN GRAIN.
Chicaco's Market Extremely NeIvous-The
General Tendency, However. Upward.
a.. ,,.. ps-...,t.


CHICAGO. August l2.-On top of the three
and a half cent advance recorded in wheat
Yesterday there was piled to-day further
appreciation OF 25Sc. in the ruling option
December-tnough ~ had disappeared
az the close. The market was an extreme
lv nervous one. The general feeling IN the
pit favored higher prices, but the uncer-
tantv "a TO the size Of the uncovered short
interest here unsettled confidence and
tended to an evening up OF trades, both
long and short At the 1rst sign OF danger.
he result was a series OF stampodes which
alternately sent the market UP and down
in the most bowildering fashion. The
general tendency OF the session, however,
was upward. The news at the opening
v.ns bul'isk: Lcndon reported cargOeS tor
prompt shipment l.. and Sd. up and Liver
pool was Is penny higher. Al the start
the bulls seemed to doubt the wisdom OF
press. 1g the advantage they obtained yes
terday and this gave the bears some show
Of courage. The opening price was - TO
95l5c against aye AT the close yesterday
The longs then began 10 realize ana thelr
sales broke the market to 94e.c. within
few minutes and there vas a reaction to
g5Lc.. but renewed offerings quickly sent
the price of again TO A9sc. Then came a
period of comparative steadiness, the mar
ket holding between 9le4 and 80 sc. Then
a Paris cable reported an advance of y
franc III wheat and franc IN flour and the
price bulged TO $500. This advance vas
assisted by reports of heavy export clear
anres on the Atlantic seaboard and the
,:ulf. Notwithstanding the heavy ilqulda-
ton by Partridge Yesterday ne was under
stood b. be still heavily short aud opera
tors were calling him sharply for margins.
He finally told them that he would put up
no more and that they could cover them
selves in the open market. which they
proceeded to dc. 1t was estimated that
The purchases for his account under the
rule aggregated 1000, 600 bushels, and this
buvlng put the price up to y'bc., the Top
figure Of the day. When these demands
we're satisfied the market saeged Oh, nut
closed firm at 9Oc.
Corn started eff easy, and September
sold from 59l1c. to 592tc. the weakness be-
inc due to the late fine rains in the corn
belt and the hesitation IN wheat at the
opening. The shorts took advantage OF
the weakness TO cover and the market raj
lied some. Finally. when wheat made its
big advance, corn got excited ana Septem-
her sold NJ GOIc. Partridge was short
considerable corn, aud when II was found
that his wheat at-brokers were buying him
in the corn-brokers did the same tning.
Hence the advance to 60%c. Alter the
furry was over September sold OF and
closed at 59Lc.
Oats were quiet but strong most of the
day, influenced chiefly by the strength In
the other grains.
Hog products had another duh day and
prices ruled steady. The excitement N
grain seemed to be entirely lost on the pro-
vision market. The receipts OF live hogs
we're $500 more than expected and there
was very little demand for the protuct;
September pork kept between $40. 40 and
SlO.55 and closed at Sl0.s2l9. Another
sensational advance took place IN rye To-
day. September selling from s3c: TO sSs. c..
and car-lots from s3c. 10 sSc. The close OF
September yesterday was s3c:
Cash quotations: Flour dun and hrm
and lOc. higher. No. spring wheat, 9oa., !;
No. 8 spring wheat nominal: No. 2 red.
s6Ac. No. corn. 62I5. No. 2 oats, 2sl4c.
No. white. s2a331sc,; No. White .s Sos32. sSi
as6.65. Short-rlbs. Sc 7OaS6.721s. Dry
salted shoulders. So. lOaS6.2 20. .Short.clear,
81. 2OaS7.sO. Whiskey. Sl.17.