The San Francisco call., 1897-07-25

The following resume of the wheat market is
furnished by K. A. Bresse, Produce Exchange
grainbroker, 4l2 Pine street:
San Francisco.
9:l5 A. NJ. SESSION
The change in wheat over night seemed to take
the breath out of shorts this morning Yesterday
December sold TT 81 9755 advanced TO 81 3sIh at
the close. The fist sales this morning were a,
81 4t14 The demand was urgent causing a
further advance to 81 407a, with 81 40ss being
bid at the close May ranged &c over Dece mber
1915 A. NJ. SESSION
The boom IN wheat continues Shorts are liberal
buyers They had overso themselves yester-
day December Opened 81 Al and closed a.
81 4l7s. May closed at 81 A.
11:15 A. NJ SESSION
Realizing sales at the Closing session caused an
easier fe ling in wheat. December ran ed from
81 4l$4Gg1 4l7s at the start 10 81 4l5s at the
close. May sl 4S7s d cember pariey was
strong. one sale maize al S0Iac Jhs price
CLOSED at SO1ac, sellers.
The week jasJ closing has ben one Of great ex
element in wheat. Tue range has been over / 4
cents rer cen al. d. cember sold at 81 42sL and
May 81 44%4, which were he top prices keaIiz-
1tg sales anu weakness In Eastern markets caused
break OF o1s cents. The market has good sum-
port and responds readily 10 bun influences Tie
local crowd became very bearish on anv signs OF
weakness and have been caught several times
lighting against strong conditions. The deliveries
OF wheat have been small Even advanced prices
are not bringing out enough wheat from farmers
TO supply the want of millers Evidently pro-
ducers have learned few tricks in the trade and
are bound to dictate ter ms rs well as buyers A
bull campaign seems well on that may se1d prices
up TO their old standard Of days gone by.
Chicago.
Liverpool cables came through this morning
l12d lower Pa ris also showed a decline Re-
september opened at 7l12c and advanced to
z 34c where the selling became heavy causing a
s.rong break 10 ~ lIsc Buying by the bull clique
started turn In affairs The shorts, who were in
for a bear campaign found thems siyes seved mn
There " as scram bic for wheat wnen Minnea apoIis
wired tnat the DAMAGE done by ex ce ssi We rains
WAS greater than That Of 1887. when sOld Hutchi
put september wheat 10 So per busheI on north
western crop carnage. The price jumped 1Lc AT
time. sep ember touched 73c, against 4 1sc AZ
the start ms excitement attending the advance
" as Intense Heavy wheat operators are piaylug
the long side
II he damage reported in the Northwest ia as
bRd as stated no price seems 100 high The decline
nom - Ior sep. ember 10 7l1sc w4s only
natural reaction after an advance OF 10 cents.
Outsiders are playing very prominent part fn
wheat speculation at present
1t reported cary that foreigners were -ea1I
ing freely in Aew ork and this u arket This in
formation cost many OF the shorts a nice bIt
Later II was put up as Job so that the Clique
could buy wheat
The visible supply on Monday should show
sinai! decrease Receipts continue lar bel oyv last
years average and show signs or Increasing
Pillsbury of Minneapolis says he has no four 10
sell at present pr.ces, notwithst anding the inn
mense output of mis- mills.
To sum up the " hole situation il really looks as
II wheat was the Straight road TO prosperitv
a recent isaue OF the Paris LIE Petit journal
says: "1 he past week has been bad for the crops
Storms and clones have devastated many dis
tricts. damaging the crops and running who
fees ana caus ng irreparaDle loss 1t see ms That
the crops Will not escape from any untoward cir
cumstahces III year. Until the mlsrortupes Of
the past week one had hopes that good quality
would at least ameiiorate lessened quautity.
This also now groves disappointment The fiIl-
ing o. The eads of grain was greatly retarded by
asst weeks storms.
''Ihe meteorological observations for the past 200
years do not record such an unusually We. wlnler
ard spring as this season. one has TO go back
fully fifty years TO lind such Widespread damage
caused by storms.
''Ihe price of wheat is maintained with much
fir mness, with a certainty of being much higher
in the ar future. At present the quality of this
years crop appear; doubtful. Much VIII be small
kernels, and if the weather predictions Tor July
old good there Will be much damaged grain from
excessive moisture. The mlilers at present
they can get hold Of, account of its superior