The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-09-03
MARKET

CHICAGO, Sept. 2.-Wheat today added l9sc
to the value of September and 1Bc to the De-
cember delivery. The market was strongly
influenced by the strong advance in foreign
markets were strong early, but yielded later
sold well above 96c for a time. All the other
markets were strong early, bue yielded later
in the session and wound up with declines OF
&c in corn, &c in oats and 21A@1Oc in proyis-
ions.
Wheat was very strong at the opening. The
early cablegrams-those received here before
the days trading in the pit commenced-were
of a sensationally bullish character, and suffl-
GENTLY explain a jump in price of December to
95695Hc at the start, yesterdays closing price
having been 1880. In about twenty minutes
96c was being. paid for December, and at the
same time September was wanted at S6&c,
without sellers of more than one or two 1000
bu lots, answering to even such an advance
over the 1890 it was selling for at the close
the day before. Liverpool dispatches de-
scribed that market as opening strong and
excited at from 3& to 4d over the previous
quotations. English country markets were Is
per quarter or &c per Blu higher, and Paris
showed an equal advance for September de-
livery, the quotations, being 60 centimes up,
which is the equivalent of &c per bu. OF
course, after a SIC per bu rise here yester-
day, with a further addition of 23sc in the
first half hour today, there were numbers of
people who had profits too tempting for re-
fusal, and their selling was the principal
feature of the trading for the next hour, in
consequence December reacted from So to
94Ac. Receipts here were 226 cars, of which
only 16 were contract. The quantity inspected
out of store was, ia, 600 bu. Minneapolis and
Duluth reported 314 cars, compared with 557
H. H. ~ ,~o- ~fA TI1
total receipts for the day at primary Western
markets were 913, $40 blu, compared with S10,-
SIS blu the corresponding day of the year be-
fore. Atlantic port clearances were 6S7, 900 Blu.
Closing Paris cables were rather sensational,
showing an advance in September equivalent
to 61sc per bu, and MISUNDERSTANDING, 4Ac
per Blu.
What bullish effect this had, however, was
rather discounted by seaboard advices re-
porting few foreign acceptances. But when
closing Liverpool cables were received, show
ing no falling off in the previous advance,
buying was renewed here and sent the price
of December on another climb. 1t reached
96Ac on that swell, and September brought
96hc at the same time. On the last advance,
as on the one that preceded 1t, the price
bumped against a spring that released a
flood of long wheat that crushed it down
again with as much force as before, size
being once more current near the close. The
principal bull crowd bought moderately on
the declines and sod heavily at around $500
and better. Closing quotations were: Septem-
Der, 95c; December, 9414c.
Liquidation was the feature in corn. The
market opened strong, helped by wheat and
indications of a cold wave West, and not
withstanding millions of bushels of long corn
were sold DrippS Wprp well maintained DIR
Ing the morning. Offerings ultimately proved
to large for the market to absorb, however.
Receipts were very large, 1854 cars, and
counted against the market. The Price Cur
rent reduced its crop figures to l, $50, 000,O 900 bu.
Scattered rains were reported through the
corn belt, and more were promised tomorrow.
Charters were for 926, 600 blu. December
opened A0s higher, at 3312c. ranged between
S3A and 32&c, closing at 1924 @S27sc. Trade
in oats, was unimportant, and, as has been
usual of late, void of Independent features,
the market being Influenced chiefly by the
actions of corn. Elevator people were promi-
nent sellers. Receipts were 31S cars. May
opened Ac higher, at PIC, sold at 21G211sc,
but weakened later with corn, declining at
203sc and closing at 2O$s 62O1Ac.
There was a good trade in provisions. There
was some disappointment over provision
stocks, the decrease not being so large as
expected. Longs were large sellers of lard
opened strong, with grain and a higher live
stock market, but yielded gradually. Pack
ers generally were sellers. At the close De-
cember pork was sc lower, at 9.0212; De-
Cember lard, 212@5c lower, at $4.95, and De-
cember ribs unchanged, at $5.10; September
and October ribs, however, showed a 10c de-
cline. Estimated receipts for Friday: Wheat,
$50 cars; corn, 1880 cars; oats, APO cars; hogs,
81, 900 head.
The leading futures ranged as follows: