The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-08-22
The LlVELlEST in YEARS.
The Wheat Boom Is Attracting a
Great Deal OF Alteration.
BULLS SAY IT WILL YET GO HIGHER
Advance Has Been Going Too Fast
fur s"fcty-Small Traders Crowd
ed Out ana No Tailurc..

Chicago August 2i.--The dollar wheat
prophets were all gratified today After
an absence OF six years the much talked of
figure reappeared for moment during the
regular session of the board OF trade today
and the century mark was passed on the
curb after Change closed. The September
option was worth 80 at yesterdays close.
1t was bid for at today's opening at $50
So. sold between SO IL and 100 and closed
nominally at 90 l-2. December closed
nominaly at discount OF as. These prices
were merely nominal. however. as the bull
pool called a line OF 100000 bushels at 100
and September sold freely on the curb at
100 S-4. Today's market was a bull furore,
stimulated from start to finish by heavy
advances in the foreign markets and sales
OF 100000 bushels TO foreigners yester.
day. The seaboard clearances were large,
matters were Insignificant In the first
hours trading there was good deal OF
important realizing by clever local people,
who have withstood the temptation to
realize handsome profits all through at
80 advance. II Is generally understood
that William X, Linn unloaded 900, ooO
around 9S, which he has been accumulat-
Ing from ca up. Several other important
lines were unloaded and gave the market
a temporary setback during the first hour.
The bull pool was not credited with any
selling, It's operations being confined to tho
corn market. Seven minutes before the
close September wheat sold at 100, after
having reacted from 90 rs several times
at the even figure only two trades were
recorded and 30 IL was the ruling price
at the clcse. a net advance OF 6 l-2. So
much wheat was called at 100 that the
price was easily forced to n 100 ga basis
after the close. While tho wheat pit was
boiling all through todays session. tho
trade was not extraordinarily broad, The
average Spectator and scalpers were para
lyzed by the Mildness OF the market and
restricted their ventures. An advance
OF % in six weeks has practically driven
small traders from the market and not q
single failure has been announced today
Today was one OF fierce margin calling.
Every house in the grain trade was COM
PEELED TO put UP money. as II has not done
In years. This afternoon considerable anx-
iety was apparent. 1t was argued that the
advance had been going too fast for safety.
There was tremendous corn market to-
day, up almost al one time, and advanc-
ing another cent on the curb. The tactics
o. the bull pool stirred the corn pit to n
furoie. They Sold about 100000 Deem
Der on the advance. later ran the market
and got back their long interest. Cables
ord cash sales OF 900 bushels We're The
chief bull cards.
Receipts are growing heayier daily and
extremely favorable corn weather Is re-
ported. Outside speculation seemed to pre-
fer the corn pit today and its diversion
from which the cheaper cereal no doubt
contributed to the phenomenal advance.
Oats prices gained &c, principally in SYM
pathv with the other markets. Yesterday g
spectacular operations were notably in
evidence. but a considerable volume OF out
side orders influenced the improvement.
Provisions were slow in the extreme,
that pits was practically deserted
The scenes on the floor OF the exchange
and in the galleries today We're the live
Hest in many years. City people flocked
to the Jackson street entrance OF the big
mart long before the tap OF the opening
bell. Country spectators. too, were much
in evidence. although not in such numbers
as might be expected Dollar wheat has
| been the slogan OF the bulls SO long and
their motto has been resolved with so much
derision by the bears that the reality
seemed to almost stagger every one.
! Dollar wheat. the bulls now cry, will
lcok cheap before their campaign Is Closed
and with an undiminished export demand
their predictions may prove true. Mean
while tho farmer is reaping the golden har-
vest and the flour millers are boosting
prices for tho staff of lie.