The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-10-18

CHICAGO, Oct. 1.-THE opening of
the wheat market was attended by wild
excitement this morning, extending
over half cent in range, and at prices
from 1ss to rs higher than yesterdays
close. Following the advance men
toned, the market assembled by leaps
until it showed 2szc. gain, when it
seemed to meet with enough realizing
to check the rise. Liverpool cables
quoting 234d. advance was the inspiring
motive, though large shipments from
both coasts for the week, 4,156,000 BUSH
els, and bullish advices from San
Francisco contributed to the ardor Of
buyers. There were advices of sew
eral cargoes taken at that place for
shipment to India. The market was
broad and heavy. Receipts at Chicago
were $50 cars, and 1870, 500 bushels were
taken from store. There was another
exciting whirl in the last half hour,
when the 76c. mark for December was
reached and passed. Exports were
good at 332, 1893 bushels. Closing Berlin
cables were Az marks up. Paris was
SOLO centimes higher and Antwerp I'M
changed. December wheat opened from
1914 to "a, advanced to 761s, closing at
~ y
mated receipts for Monday, 1853 cars.
Corn was followed by wheat, the
stimulus which it received being OF
sufficient Importance to cause an ad-
vance of material proportions The
effect of the extraordinary activity in
wheat was also beneficial to corn in a
general way, orders being more plenti-
full and the buying confident.
Oats received their quota of assist
ance from wheat and under the en-
enlargement so obtained managed to
make fair gain in price Receipts
were 499 cars, and 1893 bushels were
taken from store. Export clearances
were 27S,447 bushels. May oats closed
IS higher than yesterday. Estimated
receipts for Monday, 575 cars.
Provisions-There were bull actions
in provisions as in everything else on
the floor. The influence in the hog
market, which was not quite so cheer
ing as might have been wished, was
disregarded for the more encouraging
effect of the wheat boom. At the close
January pork was 321s higher; January
lard and ribs each 15@171s higher.
Closing prices:
Wheaf,oetober, 747s; December,
75s; May, S034.
Corn-october. 257s; December, 2s4;
May. 299s.
oats-October, 1873; December, 1925;
May, 21BG22.
Pork-December, us; January. $40.
Lard-December, 4.S21a; January,
4.55
Ribs-December, S.771s; January, 40.
CHICAGO, Oct. lit was another
great bull day in the wheat pit of the
Chicago board OF trade. The excite
rzroC Of ;eJ,
through the session. December wheat
took another flyer in price, &c. over the
closing price yesterday, although 1850.
was the official closing quotation. De-
cembar really brought 76Kc. before
the scrambling left the pit. Yesterdays
closing price was 721kc
There was general alarm when the
market opened this morning. lest there
would not be enough wheat to go
around, and there was not a bushel to
be had for less than 13sc. advance on
yesterdays closing price. In fact. very
little could be had under 74c., or 15lc
higher than it closed yesterday for
December delivery. The reason for
this sudden and substantial rise was
to be found by glancing at the Liver
pool and London cables The foreign
markets led in the scramble. Just as
they did the day before and the ad-
vance OIL &C. IN december was quickly
reached here. Nil1nine. Rodman & %
New York. wired their house here that
all the wheat they had offered TO Lie
United Kingdom last night at &c. a
bushel over the market had been ac-
cepted and other New York houses re-
ported that wheat offered by them to
the continent at 31ac. over last nights
closing price had been snapped up.
With this starter the December prices
bid were from 1914 to "a This advance
was quickly followed by further ex-
change dispatches, both foreign and
domestic, which started the price to
743s. News came from San Francisco
that two more steamer cargoes OF
wheat had been taken for India and
that inquiries were being made for
sailing vessels to take more wheat TO
India. The whole situation was re-
garded here as q consequence of the
stolid indifference Of European grain
dealers during the last year to the
risk they We're running by allowing
their stocks t. run down to the bot
tom in the face of bad crop reports.