Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1896-10-22
WHEAT IS GOING UP.
Exciting Scenes and Heavy Trad
ing at the Chicago Board
TODAY.

Chicago, ILL.,, Oct. 17.-After session
seldom eaualed for its excitement and
tbe heayiness of it's transactions, Decem-
her wheat closed today at 1878 cents, an
advance of a clean SM cents since the
closing bell of yesterdays board. The
closing figures were not the top ones
nv any means, for shortly before the
noon hour 761s cents was being bid for
the December option.
The advance is attributable to but one
thing-the remarkable strength OF the
Tiverpool. Berlin and Paris markets.
Everybody was watching the cables.
They have been showing big advances
for several days and foreigners undoubt-
edIy have long lines of wheat. 1t was
the general impression that there would
he no reaction until they unload and in
view of the failure Of the India crop and
the shortness in Russia and Argentine
this seemed to be rather remote con-
tingency.
Every offer of wheat made to Europe
today was accepted. Liverpool closed
with an advance of 212d per Genital and
London reported an equivalent advance.
That started the fun. When the open
ing bell sounded perfect roar went up
struggling mass of excited spectators
were trying to buy wheat which was
not for sale. December opened at an
advance of 11hM1M cents and almost in
stantly advanced another Il cent. Then
for awhile prices held comparatively
steady. There were plenty of specu-
lators who were willing to- accept the
profit in such an advance, but their offer
ing were eagerly snapped up.
News calculated to boost prices con-
tinued to pour in. One of the most in
fluential items was dispatch from San
Francisco reporting two more cargoes en-
gagged for Indian shipment. Late Berlin
and Paris cables were very strong and it
was stated that all the grain tonnage on
both coasts had been engaged for months
ahead. one significant fact being tne in
curry for sailing vessels.
There was no stopping the advance.
Up it went until 761s cents had been re-
corded, or exactly 4 cents higher than
yesterdays closing figure. Even at that
enough was offered to cause a reaction
to 1878 cents at the close. The oldest
SPECTATORS were astonished at the
strength displayed and talk was heard
that if today's advance is any criterion
of what is to come, that El Dorado of
wheat spectators, the dollar mark, is
once more in sight.
Wheat Famine in India.
London, Oct 1.-THE viceroy of In
Ola CaDlcS lIldl over ulOSL vi ouuc, al
large part Of the northwest provinces,
the Punjab, eight districts of the cen
trail provinces and two districts of Up
per Burmah, which were not irrigated
this autumn, the crops are in a seriously
damaged condition. In addition, the
prospects of the crops in parts of Bonn
bay cause anxiety. Rain is now improb
able, and a famine is inevitable unless
sufficient rain falls in Dude the north
west provinces and the Punjab. There
is also considerable distress in other af
fected areas, which are about the same
as in 1877. Merchants are offering
American wheat at nine seers per rupee,
at Calcutta, equal to eight seers at Allo-
habad The present price in seers per
rupee in the central province is s to 10
and II, Punjab 8 to 10 and -, north
west provinces and Dude S1a to 91a.
The prospects of sea imports are ex-
pected to lower prices.