Morning journal and courier., 1891-08-18
| NEWS BY 1ELEGRlPh i.
 From All Quarters. EXCITEMENT IN WHEAT. Big Tumble in Prices at
 Leading Exchanges. BEAnIneToN's GREAT CELEBRATION. Footpads in Detroit Shot
 By Policemen. CAPTURE OF A SEALING SCHOONER. Annual Sweepstakes Race of the N. Y. c. Y. c.
CAPTURE OF A SEALING SCHOONER.
THE GRAIN MARKET.

! Great Excitement on the New York ! Produce Exchange-Btg Tumble fin the Price of Wheat-Sales of 2O,- OOO,OOO Bushels Recorded-Flurry at Chtcago-Feverish Activity in the Shippfgg Of Rye at European Ports.
 NEW YORK, Aug. 1.-The dealings on l the Produce exchange were at fever heat with the beginning of trade. December wheat option, in which there was most < active trading, ran up B to 118 and Sep tember made 115. Soon there came along heavy selling orders on foreign account, and local longs became anxious. They began throwing overheard large lines and prices were forced down, December going off to IA and September to 112a. From these figures there were 6tful reactions and much calmer feeling The peculiar feature of the dealings to-day was that at no time was prices alike, there being diff ference of fully two cents per bushel at the same moment in the various parts of the pit. Selling orders in part came from the fact that Russia was trying urgently to market it's wheat, especially upon the continent, in order to be ahead of the or der forbidding expectations, which goes into effect August 27. Later in the day there were increased offerings to sell by the foreigners who want to realize, and prices broke again sharply. The close was quite feverish, but at the lowest prices of the day, which are 2a to under the off cial close of Saturday. The trading in wheat to-day was on an enormous scale, sales of over 20,000,00 bushels being re- corded.
 CHICAGO, Aug. 17.-This was another banner day in wheat. The opening this some at 1114 Within three-quarters of an hour after the opening in the great furry there had been sales at 1124, great flood of them at 113, and some excited traders bid IA, while hundreds were selling at cent low CT. In the height of the excitement one trade of 10000 bushels was made at 115. Suddenly it became known that sev- eral houses with foreign connections and foreign orders were selling heavily. If there had been wildness in the previous buying there was little short of insanity in the selling craze which followed. Within 8 very few minutes it had reached 105; then more bull news came and with hard fight it was brought back to 107, but after an hour of see-sawiDg back and forth between that and 1064 down it went to 104t, but soon recovered to 1051. Along towards noon telegram was received from B. F. Hutchinson by one of his friends saying that foreigners were selling frantically and that wheat will be lower. The dissemi- nation of this prophecy did much and December dropped to 103 with rush, and finally closed at 1034: Old traders say that the rapidity and wide range of the fluctuations to-day exceeded Saturday or anything seen before on the board. On the curb this afternoon there was much wild trading. December was sold at 1O4. Calls were to be had for 1104 and | puts 98. As things stood to-day at the close it is said that not Chicago man has made a cent on the market and nearly all have lost during the excite ment. Many had their fortunes at stake. New York is reported to have made the most. The excitement on the board to-day was not by any means con- fined to the wheat. It quickly spread to corn, rye and oats and even granger | stocks. Corn was as much excited as
 wheat without anything to especial effect. The four reflected the widest streak of the transaction. Au-
 gust corn jumped from 64a to 70
 within the first half of trade and then
 dropped back to 66 Special corn also
 took jump to 6s and fell to 63a. Rye
 was up and down between 106 and 11C
 throughout the session. A remarkable feature of the market is that despite it's ! wild character there have been no suspen,
 sions.
 BERLIN, Aug. 1.-The recent advances
 in cereals was lost to-day on the newl
 that government would purchase wheat
 meal for the army and immense contracts
 had been concluded since Saturday with
 American grain dealers.
 Feverish activity prevails in the ship
 ping of rye at all ports. Eight thousand
 tons have left for St. Petersburg in eigh
 days It is reported that further large
 shipments will be made on order of tn,
 has resolved to loan money on corr
 to two-thirds instead of one-hal
 of it's value in order to facilitat
 purchases by small dealers. Int
 Reichvanzeiger says that the governmen
 is confident that there is sufficient whee
 to take the place of rye and that reduc
 tion of the duties would only enricl
 foreign dealers without fixing the pric
 of bread. The paper declares that higl
 prices are due to bourse speculation
 and not scarcity and that the Russian
 ukase would have been issued sooner thai
 it was had Germany reduced the grail l HIVE. u lS SlR Ru1uCduL uudU OOuHt hdlud kist pleads for suspension of the duties
 PARIS, Aug. 17.-There was an activ
 demand in the grain market to-day, espe
 cially for rye, which advanced to franc
 per 100 kilogrammes. Wheat and flour ad
 vanced 1 franc.
 VIENNA, Aug. 1.-The grain marke k was firm to-day. Autumn rye advance 50 kreutzers and wheat advanced
 kreutzers.
 rl BuDApEsrH, Aug. 17-An active graf
 market prevailed here today. Wheat at
 vanced 60 kreutzers.
 | BERLIN, Aug. 17.-Owing to excessi,
 price of rye the government has decided
 use wheat instead in making bread for th
 army.
 ST. PETERSBURG, Aug. 1.-The mini
 try of finance announces that the yield
 rye is estimated at 71, ,00O,0 ,000 poods, b'
 that wing to the present supply beir
 exhausted, 94, ,O00.O 900 being required ar for sowing purposes, the deficit must l supplied by potatoes and maize.