The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-08-12

dancing most OF the time. Potent news around
the opening was bullish. The government crop
report was interpreted rather bullish. but
the European situation was looked upon as SO
decidedly bulllSh as to more than counterhal-
ance home conditions. There were heavy
buying orders from New YORK ana 1t. Louis,
and as the offerings were limited prices we're
sharply advanced. After the hurry, caused by
theeXecution of these orders was over, and the
market began to manifest tendency 70 sag.
Il was given a new strong impetus upward by
series of cablegrams to some OF The larger
houses. saying at first that Russia would pro
hlbit the expectation OF rye from the empire
after Aug. y, and later that It had issued a de-
cree of prohibition TO 90 into effect on Aug. IS,
and to continue for one year. When this news
was first moOted it met with little credence, but,
as the house which first receNau II bought
heavily on the strength of it, and as other
houses receiving the same advices, ranged them
selves on the buying side also, the smaller shorts
became panicstricken and rushed 70 cover. the
values advancing rapidly amid considerable ex-
element. December opened ragged at 9l&D
9214c against 81 lkc at the close yesterday, sold
up quickly TO 92l%c. sagged back TO SH1s sD92l4c,
and then, on the report of the Russian rye pro
hibition, jumped to 93c At thus point the late
cables announced better weather on the CONT
| nent and some decline in Paris, and shorts hav-
ing pretty well covered, there was drop to
s214c Then corn began to show increased eX-
| citsmeet and estimated receipts Tor tomorrow
| being light, there was another rush 70 buy,
which sent December to 9S1ec- II TOOK another
| drop to CSC then doomed upward again. touch
| ing 94S4c amid much excitement wavered a lit
tie. receded to 94l6c and then, IN less than tf-
| teen minutes under free covering by big shorts
| who had been holding out, went humming TO
| Csc and closed firm at 945Ac. The fact that the
amount of wheat on ocean passage increased
| 1856 900 bushels during the week, had no ap-
| parent effect on prices. -Four carloads of new
| spring were received to-day. Corn started in
| rather weak September being variously quoted
| at 5S5SG66S34c. against sec at the close yester-
| day, but the strength in wheat. light offerings
OF corn and fears of shorts, who suspected
manipulation by the bull clique, generally &C
| credited to New York SPECTATORS, soon caused
| a sharp advance to 601Ac. The market then
| easeo Off some but during the last hour started
up again. selling to ag4c it then broke 60 5914c,
| at which price il closed. The feeling was very
nervous and prices went up and down spas
medically, but the, under current was very
/ strong. Oats were Fuuiet, but strong, aud in
| sympathy with corn Provisions did not sym
| pathize to any extent with the excitement in
| grains; fluctuations were confined TO a narrow
| range, and the close was at ABOUT the outside
| figures and at a small advance over yesterdays
| figures. Under the stimulus OF Russian news,
/ rye took on the appearance OF speculative grain
l to day, cash articles advancing cents and fu
| turds 4Is0bMc
| CHICAGO, Aug. 11.-Cash quotations we're as
| follows: Flour firm and unchanged; winter
| patents 81 30004 90; bakers 81 1904 IS;
straights 81 65GD6 TO-. Wheat-No spring,
| 949A694a4c; No. 8 spring wheat SC: No. 2,
| red, 94@D9434c. Corn-No. 2, 63c. Oats-No 2
| 2SIxc; No. , white Slls0S1s4c. Mess pork,
per barrel, $40 37If Lard, per 100 MS so So
salted shoulders boxed, So 1905 90. Short
clear sides. boxed, 81 2007 80 Whisky at
| 81 IL.
| Too5;,.o. t,4,,.o, -... -. a II, snIior,s I.t