The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1896-10-18
BIG JUMP In THE
WHEAT MARKET
4 Rise Of Pour Cents Causes General
Alarm Amongst the
Buyers.
FOREIGN DEMAND IS BRISK
London. Liverpool. Berlin. Chicago, San
Francisco and New York Markets
Much Excited-More Shipments
Of Wheat 10 India.

Chicago. October 1.-THE semi-excit-
ed state Of the wheat market. as yes
terday's session was coming TO a close,
was Increased this morning into q fairly
good specimen Of general alarm. That
fear was well grounded as II turned out
There was not a single bushel 10 be had
for less than TX advance on yester-
days closing price. and very little at
under "a cents. or ~ cents higher than
1t closed at yesterday for December de-
livery.
The reason for such sudden and ma
terial rise. following the big jump OF
the previous day stuck clear out from
official bulletin boards Foreign mar
kets led In the scramble just as they
did on the day before. A public dis
patch from Liverpool quoted an ad-
vance there over night Of 2lsd per CEN
tai. which Is an equivalent Of cents
per bushel. Private cablegrams re-
ported Liverpool and London wheat ex-
cited at the advance already named at
the former. and 7l,d at the latter place.
New York wired that foreigners were
active buyers there and claimed that 175
boatloads- equal to 100000 bushels
were taken there. with that for a
starter the prices bid for December at
the opening were from 73i4 20 "a cents
against 72> cents at the end Of yester-
days session.
The crowd had scarcely got accustom-
ed TO the "A cent wheat when further
dispatches Of an exciting character
started them again and the price rose
TO 545s. A San Francisco message said
that two more steamer cargoes Of wheat
had been taken for India. and that in
quiries were now being made for sailing
vessels to take wheat TO the same des-
tination. The significance Of the latter
point In the dispatch was the Indication
! il gave OF the expected long continuance
of Indian requirements. on top OF all
that. a private cablegram reported the
Berlin market excited and five marks
higher that being equivalent to 81
cents per bushel. 1t is no wonder that
spectators scrambled for wheat And
they did. There was simply no bear
news Of any kind and the only chance
the anxious shorts had was when a
speculator. satisfied with the profit in
sight. put his line on the market. There
was plenty of this done, but everything
was grabbed at and the price never
stopped advancing until 76ls cents had
been scored, exactly cents above yes
terday's closing. Here realizing in
creased and was sufficient to break the
price of December to 75N at the close.
san Francisco, October 17.-At the
closing session Of the produce exchange
call board today wheat had a gradual
decline. In the local speculative mar
ket. the highest during the present ex-
citement was reached when December
wheat was sold for $3.50 per GENITAL,
against Sl41la as the best price paid
yesterday. The opening figures this
morning were $1.47H. an advance over
Yesterdays opening of 9ls cents.
The lowest point reached today for
December was 146l5. while yesterday S
lowest figure for the same option was
$1.SS. After the $3.50 mark was reached
today December gradually weakened
until at the close 1t had reached fig
ure below the opening price. May wheat
took practically the same course as De-
cember. opening at $3.50. an advance
over yesterdays opening of cents,
then strengthening up to $1.51% and
then receding to s1.4Sh, at which figure
1t closed.
New York, October 1.-THE bull
campaign in wheat was marked today
by another sensational advance in