Omaha daily bee., 1897-08-22
IS ALL IN AMERICANS HANDS.
Considerable Excitement OccnsiOned
AmnnG london Grnim SnccmIntOr

Among London Grain Spectators.
| LONDON, Aug. 21.-The fact that the price
Of wheat has reached 81 bushel in the
United States has produced considerable eX-
citement among grain spectators and others
in London The secretary of the Baltic said
| "Of course we have been caught largely
short. The rise in the price of wheat, with
| the uncertainties of the future, make a some
| what hysterical market. The rise of & pence
| in the price of barley, for example, today,
was due to no assignable cause. There Is
| no speculation here, as 1t is known in Wall
| street, though there is some speculation at
| Liverpool"
The secretary of the Corn exchange re-
| marked: There is no speculation here as
| such transactions are generally known.
| There has been disposition on the part of
| the outside public to bear the market, but
| the brokers' have disguaded their clients
| from so doing. The rise in prices yesterday
| morning and today was not due SO much to
dollar wheat as to- the buying by France
| where the harvestings are proving disap-
pointing. Our millers, too, are short. Our
brokers have not made much, as they held
| no stocks; but it is needless to say the rise
| of half a crown in the price of wheat yes
| terday makes the liyeliest times on Mark
Lane. The Americans have apparently got
it all their own way.
The Westminster Gazette, referring to
| the rise in the price of wheat, says: 1T
| is an unmerited stroke OF good luck for
l
ought to have been overtaken by swift
| calamity for shamelessly paying election
debts to the trusts by the passage of the
Dingley bill" AT the same time, the
| Gazette finds comfort in the allegation that
| the Bryanites are made TO look foolish"
and adds: "The western farmers will
at once that high prices are compatible
with a gold standard and the destruction of
| Bryan and his panacea is bound to follow.
But If President McKineys supporters are
| tuc will for n miDutp imapDp that
| when they dispose of the silver craze they
| will dispose of the revolt against the Amer-
can capitalists who have never used their
power so ruthlessly as since the last pres-
| Dental election"
| DENOUNCES "EXTORTIONS"
The Westminster Gazette then proceeds
to denounce the "eXtoTtions' of the new
United States tariff, which, 1t adds "is one
| of the worst and most fruitless sources of
corruption of public men and public
| servants" In conclusion, the Gazette says:
| The degree of success which has attended
| Bryan shows that the Americans are becom-
| ing alive to the rottenness of something and
| next time the campaign will be directed less
! to the gold standard than to the standard of
public life"
The same crowd has calls good for tonight
about 81. Lynn sold about 100000 bushels
of September in this mornings trading around
| 81. Schwartz-Dupee did most of it.
December wheat gradually crept up nearer
..
while September remained nearly stationary
| around 97A cents The Linn selling of
wheat today was regarded by many as sig
| nihcant, because he has, it is said had the
largest local line on the big advance in price,
and was about the only trader to make
great profit. Gossip had it that W. T.
| Baker was also selling.
Just before IL a. IN. wheat began to sud
| denly advance again, and the price jumped
i up to a new high point overtopping any
hi,,u nod tha nil
| 9S1a cents for September and 97A cents for
December.
| The receipts of wheat at Minneapolis and
| Duluth for the past week were reported at
| / ,405 cars, against GA the previous week
and 2,297 the corresponding week year ago
| This news was not a minute old here when
| the tptop mark of even curb trading was
passed, and the record 9SA cents for
| September and 9S$ cents for December. At
| this moment New York was up to $1.05.
Meanwhile the Schwartz -Dupee selling of corn
| was keeping up at 33 cents for December.
| This firuJ had up to 1:15 a. m. sold between
! 1000 900 and 100000 bushels of corn. Be
| fore II 80 a. M September wheat touched
| 90 cents and December 9Sh cents. New
| York started this latest advance by showing
no break when Chicago yielded Dispatches
| from the seaboard were to the effect that
cash sales for export there were 700 900
in mind also that the bull crowd had calls
| on / 800 900 bushels "of September at 81 and
there were lively fears that the calls would
be good. ea r.,
Bartlett-FraseF reported that they had buy
ing orders on corn from about every foreign
market. Closing continental cables reported
Paris wheat up a franc, equallng 5A cents
per bushel. contrasting sharply with yester
days relative weakness in French markets
The advance on the Chicago board continued
as the close of trading approached. At II 40
a. m. the price had reached 99H cents for
September and 80 cents for December In less
1alln
reached, and Sctiwartz-Dupee paid 100 cents
for lot OF September wheat. When this
red-letter record had been made, there was
temporary reaction to 99la cents, but mo-
ment before the close the price was back
again up to 997s cents. When the closing
bell rang at noon the official record was
991k cents for September, u cent below the
top price for the day, or 6h cents net gain,
"a s. ed with yeSetrday's closing 0uOIa-