The San Francisco call., 1897-07-22

voices for wheat a scene worth witnessing this
morning. mber opened at 81 AZ. against
81 3s1a at the close yesterday. Buying was strong
enough to add 5sc more TO the advance selling
to realize prof caused an easier feeling at the
close, December 81 4.3s. May 5. 44A Ne
price seems 100 high. Liquda ion may cause {
reaction, but it will be only temporary.
1915 A. M. SESSION.
Excitement continues high One broker lost his
voice screaming for wheat. Country orders arc
becoming numerous Dec 'mber opened al
81 421a SOLD at 81 AZ and closed at 81 421a. May
81 7s. Market is taking heavy load OF heat
which appears to go into strong nds
11:1b A. N SESSION.
Wheat was wild. and one might say crazy, At the
closing morning session Chicago showed renewed
sire 9Th causing early sci here to buy back
their lines. December started at ST. 1924, where
heavy trading took place. AS soon as the shor
were flied up easier feeling prevailed resulting
in a break 10 81 Ala for Decem ner Directly
after the close ST. 405s was the runng price.
To morrow being holday in illinoi, the bulls
preferred to realize and tart afresn Friday. For
eign markets were ra her tanner at the close.
p. SESSION
Decem Der wheat started at ST. 20 under reaiz-
Ing sales by longs, who were securing profits.
steady r'se to 81 Al followed with May 81 42$4
Decem ber bar closed at lac sellers, after sc l.
Ing 7"12c Many small 'ldeis of wheat sold
out to-day Their of rings fell into strong hands.
Chicago.
If ever wild scene was witnessed In wheat
tradih surely the picture presented In the wheat
pit to-day was one TO be RENE IN bere especially
bv the shorts he days OF "Iild hutch'' were not
a ma ker o that Of to-day. Brokers were ma lie
almost use ess by hoarsen"ss After the session
closed wet towels were in great demand
The market ed with a dull ihud. Liver
pool first cables reported advance of Lad 20 be
fol. owed by ano'h report showing decline o.
Id This information was received just before The
opening, and .nected break OF l cent as com
pared with yesterda s close. The break was
only of mcment ary haracter.
Foreigners filled the pit with buYi orders.
Within tw nty minutes from the start Septem Der
wheat was selling at 73i4c ag inst 7l3zc at the
beginning at this pr ce selling became promi-
nent, causing reaction to ~ 12c. gain came
encouraging news from Liverpool and Pari-, the
former regsinlng its early loss and tn latter
showing a sharp adva ce for wheat and -four over
yes erday's quotations.
Minnerpos abou this time reported heavy
damage spring wheat by excessive rains, "lhat
settled t'?'-the same was up. hUrts tumb ed
over each other in order to gei In NJ "f harms
Wxy Ihe arket s"ared to 746s d74s4c for sep
tember, with july at 7S11ac and Deoemoer 1886
There were too many unexpected proht for longs,
and sellluF TO tase them rogeth with "cai"
sellers caused a reaction OF 12c at the close.
Heavy operators not dspo ed to sell eve at
thi vance OLD timers are pr phesying dollar
their high level Of a few years since. Why not
wheat? J. en- years ago, with condi ions tn y
are now, 81 80 would be considered cheap for
wheat. II is only that the worlN has become
customed 10 low level of va ues. radical
change has owe TAX en- speculation. he sentiment
seems drifting back 10 those of years gone by
which meant that wheat WAS cheap 100 cents
for Y pound'. Fashion has drifted back o
ancient ways. Why not that which keeps body
setbacks always necessary 10 success II
wheat drops back Il IS on TO get stronger foot
no d upo whicn 10 sust.in higher eveL The
excitement in wheat seems just arting. The
wat, hword which has been sent dow n the line is
TO get aboard aud float with the tide. which prom
ises tidal wave of no small mag gnitude.
"