The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-07-03
THE MORNING NEWS: FRIDAY. JULY 8, 1891.

aud during the early trading July sold as high
as 94c and Dece N Der at o0I6c, OF from 1L{c 10
l1sc above the highest figures made yesterday
Shorts were on the run and frantic in their
efforts to cover. Big bears responded promptly
TO all calls for margins and kept right on sell
ing. After time the bear news began to come
10 The announcements was made OF Alexander
Co., OF London, large cargo dealers, who
were said TO have gone down, owing to their
heavy losses in long wheat. All this created
a marked depression. and the confidence Of the
bulls quickly evaporated. Shorts had covered
pretty generally. longs. who had taken on
wheat on long depression began TO unload any
the weakness soon developed into a regular
slump, and July went of to 9lsSc while Deem
Der broke to S1sc. Later Liverpool cables r ~
ported higher prices there and continental
cables were sensational. Berlin showing an nd
vance of INC i'll July and PIC in September and
October and Paris 20I30 centimes IN. Little
shorts waded ashore regardless of the der1th of
the water, and then it understood that
Partridge covered his contracts, and that
Cudahy and Ream also succeeied in getting
their deals about evened up. 1t cost some
money, however. as in the process July was
put up to 9476c and December to 92c. There
was q reaction pear the close, which was at
Corn was excited and higher at the start
Shorts showed q good deal of nervousness
especially 10 July, aud were anxious buyers
while there little for sale. In the early
scramble July sold as high as 57lbc and not
much TO be had even at that. There did not
appear to be any leaders 10 the bull movement
but everybody seemed to be short more or
less and frontic TO cover, while little was
offered for sale. September sold up on the
early excitement to 6I9s@5l&c. Then came a
tumble in wheat, and the most nervous shorts
having bought all the wheat they wanted prices
started down. This brought out corn aud for
q time it was a race to see who could sell the
most in given time. and July finally got to
$500 and September 70 5GSzc Moderate
car lots for tomorrow, and a
reaction in wheat finally carried July
back to 56s4c and September to 5lSc Tbere
was an active demand for cash corn which
sold TO 60I3c, audnearly &c premium on Septem-
Der ani 3lbc over Rellers for the mouth esThe
close was steady at 66eSe for July and slice for
September Illustrations in oats were gov
erned by those in wheat and corn, Provisions
opened strong and higher, influenced by grain,
but later on large stocks, more hogs than were
estimated and the break in corn and wheat all
at $40 509l0 So, broke to $40 IS, aud, on the
at $40 65. Lard and ribs followed the same
general course. TIE board will not be 10 SCI
sion again until Monday next.
CHICAGO. July 2-Cash quotations were as
follows: Flour nominally unchanged; spring
patents o. 1905 40; winter patents S5 90
95 10; bakers "a 1904 rs; straigats 81 65
as 10. Wheat-No. spring 93IsG96Ikc:
No: 2, red, ss1<09e1bc. Corn-No. Q tO}ao Oats
No. g 347Sc. Mess porS, per barrel, $40 ~.
Lard. per 100 rs, So 221S Short ribs sides,
loose. So o5@6 10. Dry salted shoulders
boxed, IS 1905 10. Short clear sides. boxed,
Leading futures ranged as follows:
anTs