The Sussex Countian and Laurel gazette., 1896-10-24
FURRY IN WHEAT
Excitement on the New York and
Chicago Exchanges Continues.
SIGNS OF A SPEEDY COLLAPSE
The Remarkable Advance Caused by
Sudden Big Upward Jump In Eng
iand---corn aud Oats Are
Also Affected

New York, Oct. 20.-The big iump
In wheat and the consequent excite-
ment on the exchange drew crowds
of interested spectators to the visit
ors gallery yesterday and they are
again ON hand to-day. Apparently
the outside public are being tempted
into the speculation in wheat but gen-
orally n more conservative feeling is
evident among the professionals. The
small ''scalping" traders have practi-
cally Withdrawn, the pace of huctua-
tons being too rapid for them. The
remarkable advance was started YES
terday on advices from England of a
rise there in the market of to 10
cents per bushel, and the bull move
ment was at once intensified with
force and vigor developing cyclonic
tendencies TO which previous activities
were comparatively summer breezes.
During the first hour great activity
and excitement dominated all the grain
markets Except nats) but was tenn
pered with moderation. Prices started
with the hurdle leap of az to Az cents
per bushel advance over SATURDAYS
noon regular closing prices, December
ut S5ls@S5js and s295@s3lS on the |
later curb, was checked back nesita-
tingiy TO s59s, then made wild runa-
way to sGis. These changes occurred
in less than ten minutes. Thereafter
the trading quieted somewhat, but con-
tnued very nervous and uncertain,
with occasional spurts of buying and
selling, sending prices in upward flights
or downwards but on the whole closed
with an easier tendency. Early in the
day there was considerable realizing
selling, but the ofgorings were more
freely absorbed in mysterious way
and more wanted and rapid bids and
sales followed on "A quick upward slid
ing scale. There was no resisting the
urgent and vigorous advance. Prices
rose easily and without effort, differ
ent prices being paid at one and the
same time. On the whole, the total
business in wheat, while intensely
nervous and active, was not of large
,
Excitement on the Chicago Exchange. .
Chicago, Oct. 20.-The grain market
Is still excited to-day over the record J
breaking jump made by wheat yester- |
lay caused by advices from Liverpool {
,f big advance in wheat there. Decem- +
Der option which closed on SATURDAY. i
1t T5Js, opened yesterday at 7sk@70k,
'teadying at the latter figure, an ad- Il
'ance of 81 cents. The widest ex- g
itement characterized the trading. II
Atter monetary reaction to 10 De-
emher wheat soon went beyond the 4
op figures at the opening, touching as II
Ugh as 7D4 several times with Il
n the first fifteen minutes Of Ii
usiness. just before 10 a. m, the (
market took u sudden drop downward u
o 7sA' reacting later to 1881. Just CO
fter 10 q. M, the price receded to 7sJ{, Il
ut at thAt point the market moved II
harply upward again, and within a p'
ew minutes advanced full cent to Y
"a, During the excitement at the ei
pening some trades were made as high et
79}S, while sales at the same mo- dc
ent in other parts of the pit We're at m
cures, ranging all the way to 7sS. sc
Z 1Oa. m. the price was 1881 Decem- III
er, but at this point another one-cent
er bushel advance was recorded. Al TO
ost before the ticlsers could placs the CO
cures on the tape in the brokers' fr
Ices, the quotation had leaped to wi
4 a.a;xr1,4t, DE-