The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1896-10-24
DUETS DOWN.
wheat Market at Chicago Takes on =
Modified Tone.


feeling which developed at Mondays
close, but more especially because Of
pause in the advance at Liverpool.
Less was heard of foreign buying OIL
ders Tuesday morning and il is doubt
full II there were any of importance re-
ceiyed. Outside domestic markets were
also rather inclined 10 weakness, fact
which had some bearing on the sitrG-
ton. A few of the prominent profess
SIGNALS sold little wheat in the morn
ing. but their sales were not innuen-
tial. Prices opened higher than they
closed Monday, soon losing their sp-
| probation. December wheat, which
closed Monday at 77ss, opened Tuesday
morning from 777s TO 77h. declined to
1914, afterwards rallying TO 77HW77%.
The Times-Herald publishes a list of
% Chicago and six ST. Louis spectators
who have made sums ranging from $2),-
! 600 10 100000 through deals in wheat
during the last month Among those
IN Chicago are John Cudahy, who is
/ credited with a gain of 100000; W. II.
Linn, 100000; w. 4. Baker. $150,0O0.
In ST. Louis the heaviest winners are
4 w. T. Haarstick, 100000, and w. ID.
Orthwcin, 100000.
Closing quotations OF the principal
markets showed the following changes
for the day:
Liverpool, iH@2M cents lower;
Antwerp, 12s cents higher; Bvr-
lin, q cents higher; Paris (OctobeD,
4 cents higher; Paris (January and
April), 22s cents lower; Minneapolis,
! SsM1h cents higher; Duluth, h@A
cents higher; Detroit (December), rs
cents higher; Toledo (December), ~
cents higher; st. Louis (December),
j cent higher; St. Louis May, u cent
higher; New York, q cent higher.
Chicago, Oct. 20.-In the midst OF a
scene of wild excitement. such as vet
Gran traders recall I'm war times. Decem-
Der wheat opened on the Chicago board
of trade Monday anywhere from 7S1a to
79is cents. after closing officially Sat-
urday at 1874 cents. 1t was an average
three-cent jump to begin the furore
with, and in it's startling suddcnness
and effect IL came like q bomb in the
pit Eghty-cent wheat was missed by
quarter Of cent only. the top notch
OF this sensational session being 1854
cents. But the market was not all up
wards. IL oscillated between Saturdays
closing price and the top, reacted TO
1874 cents, then went 10 1884 cents and
flashed all around this point with be-
wildcring assortment Of changes. The
December future broke towards the
close, the last official price being 77%
cents, but that was ~ cents above Sat-
urday's closing.
Before the commotion 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. Paris and
Berlin contributed their quota OF bull
news and served TO tune the excited
crowd TO the pitch of a three-cent rise
at the opening. Traders on both sides
of the market realized IL was not n
local one, which was shown by the
prices remaining firm In the fact of
heavy selling OF long lines by holders
10 get the profit. A feature OF the day
was that everybody was making money.
Paying business came to the brokers
from Tacoma to New Brunswick. Pres
ident Baker said: "Thc activity is due
10 strong foreign markets. Liverpool
showing an advance of six cents bush
Ell Great Britain wants our wheat.
but il IS absurd TO talk of wheat being
shipped TO Argentina"
New York, Oct. 20.-There is ap-
parently no end TO the sensational de-
velopments connected with the present
bull campaign in wheat. Monday the
market cclipsed Gll previous efforts by
rising perpcndicularly AZ cents at the
opening. The jump was attended hy
wild excitement. The excitement was
increased by private cables announcing
a G-ccnt advance In Liverpool with heavy
speculative activity. BY noon local
transactions had run up 10 100000
bushels. and for the entire day they
reached the total OF 2O.iO5,0o0 bushels.
The afternoon was marked by ten
dcncy 10 take profits on early purchases.
and prices lost 2 cents bushel, or half
the local advance, closing from pa 10
2Z cents net higher than Saturday
night.
The advances at the great foreign
markets In the price over there OF Sat
urday were: At Antwerp. 10 cents;
Paris, cents; Liverpool. cents; Bcr-
lin, 3h cents.
San Francisco, Oct. 2o.--The excite
mcnt IN the local wheat market con.
tinues undated. At the opening call
board session OF the produce exchange
at 1918 Monday morning the first sale
cf December wheat was at 90 cents,
rapidly rose to 54sh cents. finally clos
ing at 53A cents, an advance OF IA
cents over Saturdays closing price
Nay wheat opened 54M cents, advanced
10 57E cents and closed AZ 5GA cents.
a gain Of sh cents OVER Saturday.
AZ second session. which closed short
~ before noon, May wheat advanced
one cent and December one quarter off,
cent. The sales for the morning were
over 1900 tons.