The Red Cloud chief., 1897-08-27
DOLLAR WHEAT TOO HIGH
A Setback From Saturdays Prices-Re.
action In Chicago.

- NDheN FEOUu ShturuhN TICeH- no
action In Chicago.
KANSAS CRY. Mo, Aug. 24.-Thcre
were not enough people In love with
dollar wheat to take all that was
offered around hat price In Chicago
this morning, and September dropped
to o5lS cents before tho buying orders
were equal to the offerings. The price
reacted TO % cents, and for the great
err part Of the day ranged around 81
cents, which, considering the rapidity
OF last weeks advance was looked
upon ms a very small reaction. The
market was very nervous, but the vol
INT OF business was not large.
Cash prices in Kansas City declined
more than Chicago prices The re-
ceipts here were 053 cars-the largest
OF the season, and the tables on the
floor OF the exchange were piled SO
full Of samples that buyers concluded
to take life easy and showed nothing
like the anxiety they displayed last
week. Nevertheless there was a large
demand and prices did not decline as
much as some people expected. There
were sales Of soft wheat at 81 and
sj.01, but later the price dropped TO es
cents. Hard wheat, which sold as
high as 81 cents Saturday, was pur-
chased to-day at prices ranging from
9lH to o4ii cents.
The first curb quotation in Chicago
for September wheat was si.O21S. an
advance Of 3 cents over Saturdays
closing price. At the same time s3aS
cents was bid for September corn, Q
cents over Saturdays close. December
wheat sold between 81 Ok and
81. 001, while 1854 cents was bid for
December corn. Liverpool's opening
wheat advance this morning was
equal to 5@5ll cents per busheL Sat
urday's advance In Chicago was Z cents
per bushel. The Liverpool advance
in corn, equal to ? 2.5@3 la cents per
bushel, was considerably over the
Chicago advance. The 1879 p m. Liver
pool cables showed q recession Of 1
penny in some wheat futures and on
this the curb price for September
wheat here dropped to 81. OO1l.
All the buoyancy was out Of wheat
when the opening bell rang upon the
regular board. The highest price
touched in the initial trading was 9oIS
for September, the exact quotation at
which the market closed on Saturday.
Simultaneous sales at the opening
were all the way down to ysK aud in
a few minutes later sales were being
recorded at % and even 961i. Enor.
nous quantities Of what vera for
sale from every direction. 1t was hard
to sell, buyers being relatively very
scarce. The lowest point reached was
o5 for September, a plunge Of ~ from
the high point upon the curb. Corn
sympathized with the slump in wheat,
and the first regular trading was at
80 and all the way down to 80 for Sep
tember. as compaIed with 33ss on the
''curb.'
midas PROSPECTS GOOD.
LONDON. Aug. 24.-The Times cor.
respondent at Simla says that good
rains have fallen everywhere through
out India except In the disti lets OF
Bombay and Deccan and the crops
promise to DO exceptionally large.
LARGE CROPS IN ARGENTINE.
BUENos AYERS, Aug. 24.-It is off,
cially announced that a very large
crop Of grain is anticipated in the
Argentine Republic, the grain under
cultivation covering larger areas than
ever before. The wool clip, it is fur.
ther stated, will be heavy.