The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1897-08-12
Chicago.
Cottonseed oil.-Quict.

Chicago. Aug. 1O.-Wheat today rose
1-oc above the highest point touched
during the recent bull campaign ana
> 3-Sc above the closing price OF yestef-
day. Realizing caused some reactlon'
but net advance of ! o-Sc was MAN.
tanned. The principal element OF
strength was the advance in foreign
markets. Corn was strong and gained
5-Sc. Oats sympathized to the extent of
1-4c, provisions averaged strong. but
suffered some from realizing. Pork gain
ed . 1-2mJc. lard and ribs lie each
Wheat fully established it's reputation
as a friend of the bulls by the manner
of it's opening. The first bids for Sep
TENDER were ut from u lie to n o-Sc,
and after tluctuati ting a few minutes be-
tween the opening figure and - Sc.
it commenced to add a few larger irac-
tons to the advance. In half an hour
from the opening it had risen TO iSc,
and by II o'clock it was bringing IS 3-Sc,
or Use over the previous days closing
price. The foreigners sent influential
news contributing to the strength thus
indicated Mail advices from Paris
were of the most bulish character. and
cablegrams reporting the immediate. run
showed that ten days ago the French
market situation had become strong
enough to he characterized as excited.
An advance in wheat over night of from
- centimes TO - centimes. or the
equivalent of from IL to 3-Sc per
htishel. coming after II long serious OF
similar jumps, appeared to warrant the
strong adjective used by the sender.
Liverpool opened Bid higher and rose
to an Improvement for the day of | J-Sd
for futures and / I'D for spot. In ad
dition to this strong tenor of the foreign
news. information from domestic sources
were not of a character to diminish the
bulish effect of the other. The spring
wheat in Minnesota and the Dakotas
was not giving the good promise OF ear
lier indications. and according to the
conservative grain merchants on the
ground the yield Of the three states will
not he above the average.
Chicago receipts were 224 cafs and
2S7 600 bushels were inspected out. The
clearances of wheat and -four from At7i
lantic ports were equal to $4,000 bush
els. Bradstreet's made the worlds visi-
BILE 4. 29S,0OO bushels smaller than it was
a week ago, The cash demand here
was rather dull. cable offers being ont
of line. The seaboard reported 20 boat
loads sold for export. Under the influ-
enee of the large clearances and fear of
a bullish government report, September
sold up to 10 lac. Buyers realized
freely around roc. and forced the price
back to 10 1-2c: September opened 1-46
3-Sc higher at Il 1-SMT7 Csc, sold spar
ingly at Il 1-2c. advanced to 70 lac,
declined to IS lie, closing with sellers
at IS 1-2M7S 5-Sc.
Corn was firm, largely on the strength
of the wheat market but due in some
degree. also, to an opinion that prevail
ed that the government crop report
would show such deterioration for the
month as to warrant higher prices.
Sellers were cautious and required Of
fers of higher prices to make them par
ties to trade. Receipts were liberal,
ITS cars. Bradstreet's made the visi-
BILE here and in Europe 2,17S,O00 bushels
larger than it was week ago
Business in oats was quite heavy and