The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-09-11


western S5GS6c. Hops quiet and easy; state.
common to choice, lS0l'c: Coifee-Opuons
op5ned irregular. 10 20 2S points down;
dowS aFs delivery Il sss 49, 0eto
Der delivery IS 75@l4 O5; November delivery
- .50l3 90; December delivery =, Spot Rio
dull; fair cargoes lSIxc; No. Z. l6c. Sugar
Sc Ose nSi s ss'" lest s5aS n1 S1a
? 4-9c; refined firm and in good demand;
No. g. 37Sc; No g. $3.50; of A, 41Asc
mould A. 1 9 1sc; standard A, !-l6c; confec,
TONERS A Bloc; cut loaf, 51sc; crushed
b1sc: powdered. 4l1-l6c; granulsted, $50
9-l6c; cubes 7-!ec Molasses-FOreignn MONT
nal; 500 test, ll&012c in hhds; New Orleans
firm and quiet; common to Fancy 2s032c
Petroleum quiet and steady: crude in bblS
ParKers' SIS 30; crude in bulk. 50 5O refined New
York, S62006 rs; Philadelphia and Balt
more, Sc 1906 30; I'm bulk, IS 6O01Soo Cottonseed
crude off grades 27030c; new. yellow 800
sc. Wool quiet and steady; domestic fleece
S0GS7c; pulled 260SSc: Texas l7G24c Provis.
iOns-Pork stronger and active; new mess Sl2 .
and easy; family S12 90: extra mess
80 00n9 50. Beef hams dull, weak at Sl4 OO
Tieroed beef quiet; city extra. India mess
Sl0 50021 90. Cut meats strong; shoulders ga
6l4c; picked bellies &c. Mlddles are
stronger; short clear, September delivery 81 70.
Lard opened easy. closed stronger; western
steam 81 S16; city Sc S007 90; options Septem-
Der delivery 81 80; October delivery 8. SIS bid;
January delivery S. 81. Peanuts quiet but
steady; fine fancy hand picked &c; farmers
21hGD216c. Freights to Liverpool steady and
moae ately active; cotton. per steam. 10d;
grain Id.
CHICAGO, Sept. 10-Wheat opened weak and
lower this morning. The prime cause was the
weak tone of cables. Liverpool was reported
depressed, with anxious sellers at 81 decline.
Receipts here were nearly 100 carloads under
the estimates but forwardings were light and re-
csipts in the northwest we're heavy. The weather
In England was reported hot and forcing,
and the government crop report was Xpected
to be bearish. Those bulls who had bought at
considerably higher prices, and Who were
averse to running the risk of furher loss which
appeared TO threaten them, AMI that other class
OF longs the size of whose lines was together
disproportionate to their margins, we're free
sellers at the opening of the market. Shorts
felt at that time secure in their position that
referred to offered their holdings
from 951Sc down to 9i4c before
they thought well enough of the price to cover
to any great extent. Trading then became
heavy for about fifteen minutes, during which
prices surged up and down between the figures
already given. Then a curious change in the
sentiment occurred. The bears began to reach
the conclusion that drop of Poe in the price OF
wheat with in three weeks was enough 70 Justify
a reaction and to consider weak market over
loaded with bear news. and with apparently no
Fl inds, as furnishing a rare opportunity
TO buy for turn. The number VINO reached
elsewhere, as shown by buying orders, quickly
reversed the tone of the market and started
prices upward. Foreigners, who had sold out
on the excitement which existed here when
December wheat sold as high as 81 is, sent in
considerable buying orders. Many Of these are
sail to come from Paris, from a house which
recently received a check Tor about $3.50 900 from
its commission men as profit on d heavy line of
long wheat sold out on the eNcted bulge of
three weeks ago. This foreign buying resulted
with the aid OF shorts, in advance in Deem
Der wheat to 96l4c about an hour after the
opening, and following that business Stacked M
and fluctuations for the most part were con
fined between 9534c and sec. Prices had worked
up to around 96Ac again, when dispatch from
New York reported the failure Of
the London grain house of Al
exander & Son for about S6,OOOOOU,
and that caused a sudden break tO95l &C. Alex
ander & Son failed some weeks ago, and TO day 8
dispatch merely gave the total amount of their
indebtedness at the time Of their suspension. The
decline was at once recovered from upon re-
ceipt of the above explanation. The reaction
was aided by reports of foreign buying which
came from New York, 81. Louis Duluth and
Minneapolis, together with what was going on
here and an active deupand by shippers for
vessel room. The advance ctilmnated at 01shc
and the close was at 91sSc, against $3.50 at the
close yesterday Contrary TO expectation, the
bears did not make q further raid on corn to-
day; The clique apparently had the market
well in hand, and under cover of the
strength in n, wheat put spdcess. Of the
OpuiOu w ltSC dUONc Jue
closing price of yesterday. October
opened at 54S4055c, advanced to 5714c, and
closed at SIC, against 551se at thee yester-
day. Oats followed the course OF the major
cereals, being weak early anu strong later and
closing nea- the top figures Of the day. The
provision market was irregular, opening weak
and closing strong, and in that respect it
merely responded to the action of the grain
market Packers were bidding for October op-
ton and selling January. Tie constant
feeding out Of the product for January
is shown in the fact of decline in the premium
previously existing for that month, more es-
pecialiy in lard and ribs. There is an actual
discount of l21bc in January compared with
October ribs. January pork still maintains q
good premium, from the fact of its superiority
in speculative sense, but to-day it gained only
15c on yesterdays closing prices, while October
advanced 271xc One cause of the strength in
provisions to-day was the report of stocks Of
cut meats in the country showing a decrease of
lS6,O00,000 pounds sipce July /.
CHICAGO. Sept. 10.-Casn quotations we're as
follows: Flour quiet, unchanged; spring patents
So 5000 IS; winter patents 81 1904 IS; bakers
81 1904 25; 1traights 81 6jG5 10 Whest-No.
spring, 94O9414c; No. red, 9400414c.
Corn-No. 2,64Ac. Oats-No.2 2S34@g275Sc Rye
No ?, s.. Mess pork, per barrel, $40 IS
@1O 80. Lard. per 100 ns, 81 ON. Short
ribs sides. loose, 81 15Gl7 b. Dry sailed
shoulders, boxed, So s.1a05 70. Short clear
sidas. boxed. s. $4,000 Whisky at 81 IL.
Leading futures ranged as follows:
incs