The Hocking sentinel. [volume] (Logan, Ohio) 1871-1906, 1897-08-26
WHEAT MAKES A GREAT CLIMB.

the wheat regions told of small yields. The
two kinds of information REINFORCED each
other in making the price of wheat go up,
and every time it advanced q point the
noise in the pit was increased and the
! gesticulations of the traders became more
| violent. Wheat f1uctuated in a manner
| sufficiently lively to cause some 1000 ex-
ira yells in the pit.
Wheat closed Tuesday night at S35s
cents. When time was called in the morn
| ing the bulls laid their horns under the
| cereal, gave a concerted heave and threw
| it to n height of S5k cents. All over the
pit could be heard the moaning of hooked
bears, and the strongest men turned pale
to see the way in which some Of those fat
old millionaires grew purple at the
thought of losing brick or SO out Of their
new corner mansions.
Then the bears inserted their claws and
began to jerk. At IL o'clock wheat had
fallen to S45s cents and the agonized bel
low of the average bull filled the pit with
babel of sound that resembled nothing
so much as convocation of terriers with
cannon cracker in barrel. Up and
down shot the prices-only an eighth or so
at jump-and the roaring yells of "An'
fve-eighths! An half! Gotcher! Come
on, come on! Take 5000 bushels at that! {!
Wow! Woof! Who said three-quarters
Take it, Hold on! Only three-eighths?
Oh, murderw rang and ratified along the
walls till the women in the gallery wanted
to know why they didn't get axes or use
dynamite on one another.
Several places sent in reports of esti-
mates of the wheat crop which had ten
dency to force up prices early in the day.
1t was previously believed the wheat yield
of Manitoba would be S0,000,O00 bushels,
but advices from there were TO the effect
that one-half of that figure would be
about right The crop of Minnesota and
the Dakotas was previously reported as
amounting to 20O,00O,0O0, but report
came that SO,000O00 would be about
right.
Notwithstanding the break in prices
Tuesday the cable brought word from
Liverpool that wheat had jumpedI cent,
and on top Of this dispatch from Paris
that the market opened after two-day
holiday with an advance of 61a cents. The
clearances from Atlantic ports of wheat
and -four In three days was equal to 2,
100000 bushels of wheat. The short crop
at home and the scarcity abroad when
brought to the attention of traders in such
forcible manner was what made wheat
lump cents n bushel. 1t was confidently
asserted by traders that wheat would go
up until single bushel would be worth
81. The millers are said to be taking ad-
vantage OF the advance in wheat to raise
the price of -four.
At ST. Louis it was one of the widest
days ever experienced in the wheat mar
ket Early in the morning a strong bull
movement set in and before the close of
trading for the day the price of Septem
Der option had advanced 51s cents over
the previous days close. 1t has been
years since such tremendous bulge has
been recorded. September opened at 81
cents, an advance Of hs cent over the clos
ing price of the day before; from that it
sold down to 901s cents and fuctuated
back to 81 cents; then down to 90h cents,
went back 10 81 cents and started off on
the widest kind of flyer after call. On
the call cash wheat was 91a cents bid,