Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-08-18
WHEAT UP AGAIN,
Pandemonium in Chicago's Plt-Phenome-
nal Fluctuations.
[By telegraph to the Dispatch.


CHICAGO, August 17.-The fever which was
raging all Saturday in the wheat pit was a.
much as ordinary human constitutions could
stand, and although the fluctuations to-day
we're even wilder the excitement was no greater
than on tho closing day Of last week. Tho
usual deals which influence monetary fuctua-
tiCns were not needed. The crowd merely sold
or bought according 10 the impulses communal
Gated By the disappearing margins. All the
customers OF commission houses who had trades
open were called heavily for margins and much
OF the trade done Ia the first hour OF the sesslon
was iu the way Of closing up, as best IL could be
done, such of their business a. had not been
sufficiently protected by margins. The wlldness
OF the first hours transactions can be judged by
the range Of the price OF December wheat during
that time. There was one simultaneous jump
for IL nj the starting signal at from ol.O9 10
$1.l2 for December, and II went galloplng up IN
irregular leaps he. and sometimes lc- AT
time until Il struck S1.13, and some impetuous
spirits then made trades at S1.l4 before the ad-
vanripg tendency was checked. In the fUToT
one transaction for 10000 bushels was even
made at al.IJ, but the legitimate top OF the
market was sll4. Aside from the bull fever
which was raging hot in the veins OF nearly all
Of the traders, there was'Ylcnty OF bullish news
OF the opening. London cargoes for prompt
shipment were IL. Sd. higher; Liverpool was
lI6a3d. IN: Paris was the equivalent OF &c.
higher. and the Nav York Produce Exchange
not herg open FOR hall An hour alter trading
began here, It's members wcie b0mbarding thelr
brokers here vita buying orders. suddenly
there 1ae n change Of sentiment. New York
and FOREIGN houses began selling heavily ana
Berlin wa quoted Sc. lower. The decline winch
followed Was almost az rspid ana hccohpaIleu
by about a. sensational features a. was inc pre-
ceding advance 1t tumbled until 1t struck
slO5, and after rebound 10 Sl.Oi, the opera
tors became apparently equally exhaustei ana
n long interval OF quiet followed. All OF this oc-
curred before | | o'clock. The comparative quiet
following the drop to sl.05 and the reaction TO
slO7 gave the conservative element
In the Dit time 10 get the mar
arA a regulate
values more IN accordance with reason. There
after. while the tendency WAS downward, ~ was
at more deliberate pace by hau-past l 0G0 o
the price Of December had got down 10 Si.O":
II reacted 10 II. O4. weakened again. ana closed
unsettled at s1O21se$l LOB against sloo1s at
the close on Saturday, after having covefsu ine
,,ronornenally wide range Of lla1lHc. during
he day. On the curb, after the close OF the SEES
sion December sold up 10 *l.o4, Calls SOFA nj
al lOle. and puts az DSs4c. during the excite
ment in the early trading nothing less IN mar
Gina man lOc per bushel would DO accepted by
brokers. ana TINS TACT Was i"'0ii'' 'i0'"oA' -
the excitement -, .u,,
in the amount OF excitement III tne Pl' anu tns
Violence Of It's fluctuations. Like the superior
article IL had its exciting bulge and ingloflOus
collapse. and the trading In II Was aiso isreey
governed at the opening, az III "heal, ny tno
eoilause of margins. the opening oi Inc mar
W.. Isas Mighty turbulent and frothy, with Sep
,a,,rer anywhere from 65c. 20 CSC. The highest
price OF the day occurred shorliy AFTER t,au,ns
commenced. September reacheu ooc., oe'V f,
Gu.c the year Dl34c., ana may oo.' Iho
tendency during the remainder OF the DAY was
strongly downward, but some reactioh set III
near the close causing a recovery ironl 'le OK
tremity OF the days decline enu iea''n ,ola fo1
kugust and SepIember, In the stronger enulns
I, broke away from the controlling influence Oh
wheat. -, -o ,i,lar md
s,reatly excited al the opening. Shorts bought
freelv the market sympathlzed sTohgy with
wheat ana corn. and prices went up laP,uS,
though the advance was less mafhcu .nnn 'i,''
g., ne other cereals. They broke WIN theiil' ne-
lin, slowly and closing slightly above bottom
o,nres. Anticipated heavy receipts had some
ming 20 do with this reaction, pul II was iai Boy
due 10 the decline in other marx ~, cro,,o,,o,
In the rye market there was a NC huTtuaS ,
a., ne ,,r,ce Of the September future. Il ne nrst
sale was at = Los, the nett az Sl.iV. ine piics
sf,erwerd advanced 20 Sill ana theh urOpPeu
10 sIO5 without trade on tno Wy 1--we,
80 az which there was any uenlng. ~ WAS
pp1ered AT 81. O2 on the close. august SOFA lronI
a. "a 10 sI.lO aud closed al Sl.Of- Octoper
started AT sl071t. touened 80 20 60 in sold from
y, ~; NJ tho start TO Sill, thence downward 10
S1.O4. ,.a ,,cher In synpathy with
~ 80 - ,ork started 13c. under, ana nndcr an
ac,iye demand advanced xOaZoc. more, put
s,nan wheat aud corn broke IL followed, teceuins
go Toward the close there was rally OF 2Oa
s leaving price; 2ossSG, i0T w rs 'san n,u On
% ciossins with a loss of only 71.c- KIDS lost
cnC1SO August i7Cs ss. aaS'aioSSn as 6lSSi
,nae.'V "a Al O2axl. 02le. No. corn, 6oyfc,
No. no Oats, 29a29]sc.. Mess-pors' s9;9oa
40 1syd .57i<. short-ribs. $500. Dry
sa an; shoulders, s6.ioaso.2o. short-ciearS'
s725aS73b. Wniskey, Sill. ,
80. go" 1..d,ns futaros ranged as follows: