The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-08-23
BEARS GET FOOLED
WHEAT MARKET PROVES A pssAP.
PolNTHENT TO THEN.
Fad financial News has Little 20 Do wssl
feet OF Big Advances In Foreign Mar
kess and Light Argentine ShipDe.ts-
onerinKs TO Forsgn Ports soappea Up
VITA Avidisy-Lowsr Nershwestsfa To-
timafes-Sspssrb<r Closes 1t . Liberal
Alvance-uarksss IA General.


Chicago. Aug. se-whest furnished
disagreeab,e surprise today 20 ne
bear element. who expected Tie Bad
financial news TO deprcss prices. Bas
big advances in foreign markets and
snsan Argentine shipments eansd
cents higher. Corn closed NC higher:
oats were weak and closed lao bDwer.
Provisions are pracssc.ily unchanged.
The foreign demand Tor wheat was
much in evidence again Wheat Of
Tered by cable yesterday AFTERNOON TO
United Kingdom ports WAS almost unan
imousty accepted These acce,tsnces
from abroad were supported by the
strength OF the foreign nSsks.s and
a strcng start TO tae Chs~gc wheat
Immediately wanted a. from 5sLc TO
5ss.c. an advance Of about re. There
were other reasons fo- this strength.
One commission firIn here ma, had its
cable Offers OF wheat OF the night be-
fore accepted. had. IN addition 70 thst.
foreign buying orders for $4,000 bush
els December wheat and executed them
at the opening prices. The SANE FIRM
said they had unAouhsed Information
or q serious shortage IN the Russian
crop. A resumption or the demand
At the start tf&s morning with tie good
c.carances ard engagements at the
seaeoard, were all encouraging 10 hold
ers and stimulated speculative buySng
and covering by shorts. The Arxenesns
shipments FOR the week are only 2<.ocs
bushels. a<slnsr $50 buehels thu
week before. and the northwestern adj
vices continue 10 tell OF lowering e-ti-
rra-ss OF the crop there TIE strength
al the beginning OF the session was adj
ded TO as The day wore on The price
OF September was quickly advanced
TO 5SAc. bus declined again 10 5sSc.
and was hanging around the later prscs
when The closing cabiceranls were re-
ccivei and II was found that the Berlin
price had advancrd the equivalent &C
from Ia 10 &c per bushei. This stins-
ulated renewed activity. aud prices rosa
IN a hurry. A regular scramble 10
over set N. September advancing TO
5Tlsc. and that price was maintained
10 the close
Corn was too much depressed by tbs
continued favorable weather for tas
crop to catch any enthusiasm from The
rise in wheat The unde-tone usas weak
although IN The end September closed
&c higher than II dA yesterday. Coun-
try offerings were from this state and
the eastern demand was not very ur-
gent September opened a shade high
er at zz7s d22c. sold at 227sc and a; sc,
and closed steady at ,he latter figures.
Oats opened steady. with business
quiet and shade higher than yester-
day. Later. however. low cash prfr~s
tended 10 discourage the speculative
crowd. and for me greater part Of the
remainder OF the day the feeling vas
heavy. Liquidation in September was
free. During the last hour the advance
in wheat stimulated prices ana the mar
kst recovered some Of the decline. sep
tenber opened at f1.c. sold down 10
1ssc and closed easy at 1870.
Provisions were heavy until LAT. IN
the eeason. weak 1--we stock 2r,es-- hav-
ing a depressing effect. The afvancs
In wheat appeared 20 create some de-
stre 70 buy. and n recovery q the slight
loss followed. prices closing STEADY.
September pork closed z5kc higher az
s5-s7h: September unchanged at 80
G3.f=l1; September ribs unchanged az
GEK
Estimates for Monday: What, III
cars: corn. $50 cars: oats. 20 cars:
hogs. 400 head.