The record-union., 1897-08-24
A Lively Season of General Unload
ing by All Glasses.
New York Reports a Decline of From Two
to -Four Cents.
Exciting Scenes on the Chicago
Board Of Trade at the Opening
OF Business-Tn Spite of the
Break in This Country, Wheat
Advanced at Liverpool.

Break in This Country, Wheat
Advanced at Liverpool.
NEW YORK, Aug. 23.-There was a
Aively season of general unloading by
all classes of traders in the wheat pit
to-day, which resulted in net break
of &c a bushel from Saturdays Of
ficial close, and about &c from the best
curb prices of Saturday. Transactions
an the aggregate ran up to II, 4,0OO,UOO
bushels, and yet trading at times was
duh to the point Of stagnation. The
heaviest selling was right at the open
ing, when foreign houses Joined in
heavily, and again near the close. EX-
cept for brief period of strength fol-
lowing Immediately after the opening
the market showed positive heaviness
all day Many traders on the curb, and
even right at the opening, blinded by
their bull enthusiasm and the 3'4 ad-
vance in Liverpool futures, took on
more wheat expecting a continuance
of recent exciting bull conditions, but
We're speedily turned into heavy sell
ers by the unloohled-fo attitude of the
foreign element, whose offerings fairly
swamped the market for a time.
Throughout the first half hour the
pit was as nervous and excited as at
any time on the present movement.
The large blocks Of long wheat thrown
into the market, meeting counter buy
ing of Enthusiastic bulls, kept the prices
6n a perfect whirl, frequently jumping
spaces of 1ac between sales. To make
matters worse, quotations coming IN
from Chicago showed that market TO
be wildly excited ON see-saw jumps of
cent bushel.
The first trade in December here was
made at 1O4 It then dropped sharply
to 1O1A, rushing back to 10414, and
thens =ttling down TO 102, hanging around
that figure until near the close when
it fell to 1011I. September ranged
from 1O3 to 1861. and closed at 1882.
The French markets were aided by
bears. They made no response to Sat
urday's strength on this side, and
closed only 10 to 80 points up on
wheat and -four, against 414G5d ad-
vance for the day at Liverpool. The
talk about prospective reduction in the
French duty was not credited ON
'Change.
Export trade was limited by the stiff
holding Of cash wheat here. No. L
Northern being S6S12 over September,
and No. 2 red AZ over.
To-days break has been the first
serious check the bull movement has
received in a week. First prices were
lie higher than last Saturday, on ex-
cited trading, influenced by a sharp
rise in the cables, but a subsequent
turn in trading sentiment sent prices
flying the other way. inducing heavy
realizing, which continued all day.
Final prices were 3s03s net lower.
AT CHICAGO.
CHICAGO, Aug. 23.-It looked at the
opening of the days business in wheat,
and for fifteen minutes after, as if bed
lam had been permanently established
on the Board of Trade, but the frenzy
ebaIted somewhat at the end of that
time The Liverpool market again set
the pace for the first dash, by opening
excited at from 4d to 415d per Genital
higher than it closed Saturday-equal
10 from sc to SIC per bushel. That
caused the traders on the open board
10 pay 1921 per bushel for September
wheat. Before trading commenced on
the regular board, however, the curb
price had dropped to 81. When the
opening bell sounded for the official
commencement of the days proceed
ings. there were hundreds offering to
sell September at from 81 down TO 81
cents. while December was offered at
the same time at from 81 to 971a cents.
Five minutes from the opening of the
session Sept tember was down to 95c.
In another five minutes it had scored
again 10 9T1ac, then to soc, to 91c, to
961Ac, to csc once more, and very soon
n 99l5c During that time the price
of the two deliveTies-September and
December-were alternately in the lead,
hut after. half an hour of such irregu-
aaritv. September settled into a lead of
abo,lt 15c. The break from around
81 to 95c was stopped at that, and the
r,rica rose in an equally sudden and
:, -,si+a+ed wav. Cables showed that
Liverpool had still further added to the
first advance. The rise in price had at
$50 o. m. Liverpool time, reached
SID. or 6llc per bushel over Saturdays
latest.
When the agitation here had some
what ouieted down the fluctuations
narrowed. and kept for a time within
15c of 9S The ordinary market news
outside of the Liverpool fluctuations
received but scant attention.
The worlds shipments aggregated
7242. 600 bushels last week, compared
with 1901 600 bushels the week pre-
vious and 5,512000 bushels the CORES
ponding week of 1896. The quantity
on ocean passage increased s1,20O,0OO
bushels The visible supply showed
decrease of 497. 900 bushels. or about
half as much as looked for Chicago
stocks We're reduced $4,000 bushels,
and there are only /, ,966. 600 bushels of
all kinds here now. The most notable
movement of wheat at primary West
ern markets was receipts of 5Sl,SlO
bushels at Kansas City to-day.
The announcer sent of the disappoint-
5ngly small decrease in the visible sup
ply caused a drop from around 9S for
September to 964. but the foreign
markets closing surprisingly strong.
caused another advance to about 9i12.
The tendency however, near the end
was toward lower prices, in the alb
sence of any strong reason for another
advance. September was back to 81
and December to 95s4 about fifteen min
utes from the close and those were the
prices when the closing bell sounded.
AT SAN FRANCISCO.
SAN FRANCISCO, Aug. 23.-When