The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-08-21
Che~rinx Bulls i'm New Yerk-


septerrsp~ wheat "a the local market
reached the long talked q goal e = per
bashsl Naturally enough the inc-aeiit
created a tremendous .senss iion on tEse
floor Of the exchange, and was greeted
win prolonged cheers from more fnAa =
Thousand threats Several times during
the early afternoon the buils snapped the
price wltAiu sc e the desired marx, but
the return wave of selling orders eaen
tiYre swepl IL back The final and Sue
cessfE8 effort wzs made under The i'm
pulse q exrort rBrsors. reaching en9r-
nous figures. September was hanging
around gs<c when he export news vas
first whispered about. and az once danced
upwards il response 70 excited local bay
ing. Higher aud higher Il "Elrieo,
watched by everybody Oh the floor Uutsl
the Big black finger of the record ciat
pumped fairly on the even figure. and
dollar wheat IL New York vas an ac-
ccnplsbed fast.
Now that the bulls have attained their
boast. they are IS Ear as ever from being
satisfied ard claim that the wave o1 bun
sentiment which has spread like fire al
ever the country viii carry the price heFe
to az least BE Per bEshel. and perhaps
ever higher.
That dollar wheat IS already a thing q
the past was demonstrated on tte curb.
when ciaror8gs demands from high
strung Ioc1l saarts raised the price 10
s. e9s5 or o cert q bushe5 advance from
the oficiaI close About - CO bushels Of
wheat changed hands at 81 this afternoon
The Price Jumped Quickly.
From the very outset today the local
dealings were marked by great excite
ment Everybody felt thar dollar wheat
was In the air and while there were oe-
casional let ups when traders unloaced
5ags Of wheat on which there was good
profit they were Invariably followed by
a general Tightening Of values on fresh
waves Of reckless buying. The crowd.
being keyed Up 10 high pitch OF eN-
element eagerly swallowed the widest
scrt Of buu news. such as would be sor-
dinarlly rejected The English market
WAS up In the air keeping free pace with
our advances. Their closing prices we're
the TOP for the day. and aSsa4isd higher
than last night. French markets, on the
other hand held back and showed prac-
tically no response TO the extraordinary
strength in other markets. Private ca
hies credited the English advance 10 rainy
weather ard excited covering by shorts
First prices IN this market were made
simultaneously az from size 10 CSC for
September and 96ss to Sac for pecem-
ber The latter displayed the greatest
strength during the day on large buying
orders from local houses and others.
Subsequently September dropped TO &c
under realizing sales. but al noon was
chased 20 s92sc by a frantic rush Of buy
ing orders Throughout the day huctua-
tions were very erratic, at times leaping
1tNftc between sales. The trade was
considerably amused over the stories Of
enormous profits being made on the boom.
At one time here today cash wheat was
nomlnally worth Sl.0elz FOR No. ] North
ern {. O. b. afloat. and No. ? red A-o+i2.
A year ago the former sold Al efzsc and
the latter 69isae9zsc. The price of Sep
tenlber a year ago was 63ssc and Decen-
Der Csc Bulllsh spring wheat news was
an important factor in the advance all
day. just as II was yesterday. The full
range on September today was from SIC
10 81 the close being s9asc December
opened at g69s Gs7ssc sold OF 10 s6c, UP
10 ssc and closed AZ 9Sl<c
Total transactions were s.S55Css9 bush
els. Exports were 100 000 bushels: sales
were i75 loads here and outports. includ-
ing three cargoes for France.
Advance IL worid-w Wide.
CHICAGO Aug. 10.-Wheat scored a
sensational advance today AT every mar
ket in the world. with the exception Of
Paris During the regular session OF the
Chicago board Of trade September wheat
gained SIC and December 52sc. On the
curb. after regular hours, another ad-
vance OF &c was made, several selling
freely AT Sc.
The wheat pit on change today pre-
sented scene OF activity the Ike Of
which has rot been witnessed since the
days Of "Old Hutch
The advance today was by no means
merely a Chicago bulge Liverpool start
ed il. the English markets showing a
gain equivalent 70 4is04%c per bushel.
Every American market followed the ex-
ample New York gaining 5s5c. St Louis
a. and the Northwestern markets Sc. The
strength OF the English markets was at
tr{hutea 20 unsettled weather and cover
ing by shorts. The official report OF the
Hungarian crop. showing = 10 be the
smallest In ten years. might have had
some influence. Beerhohm. the noted
English statisticisn. estimated European
necessities at So 600 go bushels. with is5.-
on 600 bushels of that amount required
from America.
Cash wheat in most OF the American
markets passed the dollar mark. That
was the case at Minneapolis. New York
Buffalo. New Orleans and ST Louis. The
cash premiums had even increased TO SC
over the September option.
Atlantic cIearanCes were extremely
large. and the total for the week s 90 00I
bushels. reported just after the close
caused further advance Of g. A few
sales Of September were made on the
curb at epsc and trade was quite free
around ssc with fluctuations 50 wide
srec1lators necessarily limited their ope-
rsti0nz. IL was a big market only In the
sense that every one took part.
Although I'd Pargri3Ee's opera ttons
have not been ecllpssd. the combination
IS satd Ia 30 long Of - nso1 90 bushels OF
grain nearly half Of the entire amount
Nelrtz December corn. Profits it IS said
have already been accepted. amounting
10 over s. oeo 90.
The campaign IN corn is being pushed
vigorously and prices to-day advanced
about r.. with q further Esln % &c after
tha regular close
oats we're also aided hy the bun crowd
and gained nearly l..
Provisions were not affected by the poo
/ operations and gained only Sc.
Price Rose with Leaps
SAN FRANCISCO. Aug 29.-rntense ~
element prevailed in the local wheat
market today, and options advanced with
g0eat leaps. December opened n $50
re-eEed for q moment and closed q
s. e1ss After the cali there was an ad
vance % s. sli4. AT hour later - ross
10 8 sa. bat AZ l1.15 there were large sales
90 secure froats and prices lad a sharr
decline Nav opened ~ $3.50 and closed
81 NsLa. Tvsis afternoon December
ore~5d at s., t& ard closed AZ 81 S1's. whsle
Nay c0enef At s. 50 arI closed AZ 81 s'z
Portland shares the Room.
TnrTT AND. o. 49, ea-Tne lnca
wheat market h0inE governed erttrviy
bv t~s foreign markets responded 20 the