The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-10-20

CHICAGO, Oct. 19-Liverpool sent
out the news that wheat prices were
up from 3 to AID at that place this
morning, and, forthwith, our market
tackled cents to Saturdays final quo
tations. Further advances occurred
as the session progressed and the mar
ket bore a nervous appearance at
most times. All prophecies and pre-
dictions on prices appeared to be
worthless, and few risked even an as
sumption as to what the market will
do. News, while it pertains to the
foreign situation, bears the mark of
insignificance. The visible supply,
which usually attracts great attention
on Mondays, was scarcely mentioned
today. 1t showed an increase of 2,3I4,-
900 bushels. Receipts were good, Chi
cago having $50 cars Where 3S5 were
estimated and the northwest arrivals
were 1,642 cars against 1,709 last Mon
day. and 1852 year ago. Local in
spections from stock amounted to H.
500 bushels. The amount on ocean
passage increased 1.2S0,000 bushels. The
worlds shipments were estimated
early at 10, 900 bushels, but official
figures later showed them to be ap-
proximately 5000, 900 bushels. Most all
the influential professionals sold wheat
on today's bulge, the natural effect of
which was to cause recessions, so that
the extreme outside quotations were
not sustained. Closing Berlin cables
were Az marks higher Paris 1 to 21a
francs, and Antwerp francs higher.
Export clearances were liberal at 310,-
S19 bushels. December wheat opened
from 7S1a to 1919, sold between 1914 and
771s, closing at 773s, 11sc. higher than
Saturday. Estimated receipts for to-
morrow 312 cars.
Provisions-The provision market
acted up to the standard established
by grain. In addition to the favor
able influence exerted by wheat, corn
and oats there was likewise a higher
hog market to afford encouragement.
Realizing sales produced an easier
tone towards the close and the earlier
advances were lost. January pork
closed &c. lower, January lard shade
higher and January ribs a shade
lower.
Closing prices:
Wheat-october, 763s; December,
corn-october, 25as; December. 2ess;
May, 291a.
oats-october, 1879; December, 1875;
May, 221k.
Pork--December, 717a; January.
S.O71a.
Lard-December, ABS; January, 4.55.
Ribs-December, 3.75; January, 400.
CHICAGO, Oct 19-In the midst of a
scene of wild excitement, such as vet
eran traders recall in war times, De-
cember wheat opened on the Chicago
board of trade today anywhere from
1872 to 1917; after closing officially Sat
urday at 1878. It was an average g.
cent jump to begin the furore with and
its startling suddenness came like
a bomb in the pit. Eighty-cent wheat
was missed by a Il of cent only, the
top notch of the sensational session be-
ing 1879 But the market was not all
upwards. 1t oscillated between Satur-
days closing price and the top, re-
acted to 7SN, then to 79%, and flashed
all around this point with a bewilder-
ing assortment of changes. The De-
cember future broke toward the close,
the last official price being IT'S, but
that was 1ac above Saturdays 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 ex-
cited crowd to the pitch of a 3-cent
rise at the opening. Traders in both
sides of the market realized it was not
a 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 everybody was making
money. Paying business came to bro
kers from Tacoma to New Brunswick
P. D. Armour was a heavy buyer and
there was a report that John Cudahy
sold big lots of his wheat holdings, bui
it was not supposed he sold all of his
long line. The boisterous opening OF
the Minneapolis market, where the
opening price was almost
cents above the closing Saturday was
taken as evidence of the strength Of
the northwestern market. Wheat coulC
only be got when men were found who
were willing to let go and be salts
fed with their profits. Fortunes were
made in an hour.
is due to strong foreign markets, Lily
erpool showing an advance of cent.
a bushel. Great Britain wants on,
wheat, but it is absurd to talk q
wheat being shipped to Argentina.
st. Louis Wheat
ST. LOUIS, Oct. 1s.-when the
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