The San Francisco call., 1897-07-21

BAN FRANCISCO, July 20 1897
The following resume of the wheat market is
furnished by T.. A. Bresse Produce Exchange
granbroker 4l2 Pine street:
San Francisco.
Gals A. NJ SESSION
Every body wanted wheat al the start this morn
ing Liverpool and Paris cables strong
Shippers were buying freely. December opened
at 81 35 advanced to 81 SO and closed at 81 1884.
May, 81 3S14
1O:15 A. NJ. SESSION.
The wheat pit could not have shown more ex-
element Brokers were yelling the caller and
secretary deaf in order to maze their wants
known. T he turmoil was intense. One only bad
to buy wheat ind the next minute find profit In
II. December opened at 81 36s4 and quickly ad-
vanced to 81 371a, whe e The mar set closed Buy
ers not even satisfied when the gavel
sounded May opened at 81 Al.
11:lb A. NJ. SESSION
There seems opping the advance In wheat
Orders TO buy CO ntinue to roll In from the coun-
try Those who are long and have good profits are
not disposed to sell, even at ad vanced prices De-
cemb er opened at II 80, de- lined to 81 9S1s and
closed AT 81 3s "A May, 81 Aha Decemb Der bar
ley. 7S bid The strength in wheat appea to
have a foreign fou 'da:ion. Local ope rators have
been looking for a reaction, but none comes If
Europe continus to advance there is no telling
whore prices may go.
2 n. SESSION
There seems nothing chronicle regarding
at high pitch. The higher goes the greater
is the demand December started at 81 38 and
adyan' ed TO 81 Ss1a May. 81 4l1a. curb trad.
Ing after the close sent December to 81 1914 and
May 10 81 AZ
Another dav Of intense excitement character
lied wheat trading. arv Liverpool cables cam
In higher. Paris 6our and wheat showed be. Wy
gNin over that YESTERDAY giving the market
strong start. eptember opened a, 1850 and d.
vanctd TO 7l7s July worried between 75c and
DecenlD IL.
WAS maintained for about thirty minutes when
selling bv shorts and elevator peo lie started liqui-
dation causin Septen Der to go bacS to 693sc
Al the dec inc good bu Ing stopped the fall and
started an advance. which resulted in railing The
rumors that foreigners selling wheat in the
ew York market. Everybody old on th. s.
h. price wa dropped quickly TO 711sc. where
1t held only short time. denial of the rumor
ing, which las ed T % The close u Inc price W was
worked up 13lc or the day September eft of
at 72s4c, and sold at 72Jsc December ranged
against 72c yesterday.
Receipts of wheat continue surprisingly
small. Interior millers throughout Illinois
stro bidders for wheat against elevator bu ;ers.
The former are p. Ing la ge premium for the
new crop. Condt on, abroad are showing no SEN
sational changes yet the best dence of the stl-
alton road is the fact of their continued buying
Of Nmrrican wheat. The American farmer mas
prices very rar y come In one year. An advanc-
ing market n the face of harvest OF more han
ordinary size is very much ike a lottery. Amer
lea las drawn the prize.
speculation is growing into enormous magni-
tude. 1t seems that people are ] st awakening to
the fact that VIII at has bel cheap. The low
prices dnring the past five yeafs have been a
great object lesson to producers. They have been
taught that to make farming profitable the most
stringent economy should be practiced nlv the
most improved m chinery can be used. Farmin ng
must be prac lea science, not theoreti al Won
ders have been accomplished in this direction and
a result lar or bank account will greet tn
farmer at present prices this year than at mucV
higher prices five years ago.