Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1896-10-24
FORTUNES IN WHEAT.
A Sample OF tho Excitement Over the
Recent Rapit Advance In tho Price OF
Wheat-Fortunes Made in n Day by
Those Who Had the Means and the
Nerve to Back Their Judgment.

Sample OF tho Excitement Over the
Recent Rspit Advance In tho Price OF
Wheat-FOrtunes Made in Day by
Those Who Had the Means and the
Nerve to Back Their Judgment.
CHICAGO, Oct. 19.-In the midst OF
scene of wild excitement, such as vet
eran traders recall in war times, De-
cember wheat opened on the Chicago
board Of trade to-day anywhere from
7sK to 7ol1 after closing officially
Saturday at 759s cents. 1t was an
average Scent jump to begin the furor
with, and in its startling suddenness
and effect, it came like bomb in the
pit.
Eighty cent wheat was missed by q
quarter of cent only, the top notch
of the sensational session being 79H.
But the market was not all upwards.
1t oscillated between Saturdays clos
ing price and the II . eacted to 1874,
around this point ~. ing
assortment of chan y
Der future broke that our stne'
that tns '1Ts was a ~ cents lothina Saturday
closing.
Before the GO motion in the pit be-
gan the English cables posted on
change told the feverish crowd that
more wheat was wanted by the United
Kingdom. London, Liverpool, AParis
and Berlin contributed their quota OF
bull news and served to tune the ex'
cited crowd to the pitch of three
cent rise at the opening. TRADERS on
other sides of the market realized i,
was not local one, which was shown
by the prices remaining firm in the
face of heavy selling of long lines by
holders to get the profit.
A feature of the day was that every
body was making money. Paying
business came to the brokers from Ia
coma to New Brunswick. p d. Ar
mour was heavy buyer and there
was report that John Cudahy sole
big lots of his wheat holdings, but i
was not supposed he sold all of hi
long line.
The boisterous opening of the Min
neapolis market, where the OPENING
price was almost five cents above thu
closing Saturday, was taken as evi
dence of the strength of the north
western market. Strong as the de
mand was locally, wheat could onl.
be got where men were found wh'
were willing to let 20 and be satisfied
with their profits. Fortunes wer'
made in an hour.
President Baker said: "The activit,
is due to strong foreign markets, Liv
erpool showing an advance OF fiv'
cents bushel. Great Britain want
our wheat, but it is absurd to talk O
wheat being shipped to Argentina"
The Wheat NJ .rket In San Francisco.
SAN FRANCISCO, Oct. 10-Upon con
tinued strong news from othe
parts of the world the local wheat
market recovered this morning from
the setback at Saturdays clos'
and went higher than before. At OIL
May wheat opened at 15511 and rose t
1873, but toward the close of the cal
there was decline to 1864. Decem
ber opened at 1856, and all the sale
were at that price. The total trans
actions in both options at this session
were 100000 centals.
At 1l:15 to-day prices were NOR
frnly cuetoinad hut failaI IN oa
back to the highest point of the morn
ins December opened at 1545s; de
clined to l5i May opened Mt l561s
rose to l57i8 dropped TO iii's, 49,
closed at 1871.
| Spot wheat was strongly held, an,
Tor the time being may beguoted ~ "a
@l50.
May closed at the afternoon session
at 1877, and Decembe fell to 1899.