The San Francisco call., 1897-12-10

opening 10 81 09, bu, in most irregular ia ,hion.
1t h"d many sudden backward slide but / d the
end II reste at al OI or the net increase of for
the day January was a. ood second, win ing up
with gain OF &c. May was less demonstratIve in
lis ouili nnesS Its advance vas lac a bushel.
Other grain and provision markets were more or
less Influenced by the advance IN wheat. Corn
and oats cOseQ 3sc higher each and provisions
5G712c higher
Wheat very nervous at the start. shorts
We're evoentIy alarmed by the announcement
that the bull Clique mad M ade arrangements 10
ship by rail all The wheat delivered them oa De-
cember contracts, AM had also made vanta-
seouS storage cont acts in the last The conse-
quenoe WAS there was a host OF buying orders TOR
December at the opening, mostly of moderate
lots, IL is true but they had the effect on the
already strained market if thev were for mil
lions There was no wheat for sale. Decem Der
CLOSED yesterday at 81 0O14. but opened to-day
and ranged al the way from 81 ] 70 to ST. O4. and
at the top there was scarcely busnrl 10 be had.
This rrecIpltated a perfect scram he amono the
shorts, not In Decor ber alone, in January and
May Before wheat came out 81 O5 was
offered for december. Then lull came which
lasted for an nour. The brokers operating for the
bull clique attempted to stop the tide. but prob
ably from 100000 to 250,OOO bushels was taken
81 O312 but by HAD had again ris to 81 O5
hen came the storm. Within five minutes and
amid whirl of excitement December bid TO
81 OS 1t reacted with a jerk to 81 0612, then up
again without stop 10 81 09, the highest point
bid for whe al in this mHrkeg in SIX years
Probably much wheat sold this ad-
vance as on the earlier one. After that the
Set was quieter January shorts in the meau-
time had not been idle. That month opened
strong at from CSC TO 9IC, and II sold as high as
&c during the excitement, an advance OF 5I2c
since yesterday. 1t was figured that the ntu-
enCes controlling December also applied to Janu-
ary and shorts got under cover quickly as they
could. May also very strong, though il did
not have the same panIcky appearance as the
other positions II opener at 9l@9114c, COM
pared with yesterdays closing price SO1a0
9O5sc and had advanced by noon TO 925sG992S4c
II the markbt at the opening had been left as
usual, TO take It's imprint from those things that
usually affect IL decline would in all probability,
have occurred Liverpool opened firm at an ad-
vance OF Esd and closed only a shade higher
although hey must have known before the end
of this session of the early conside strength
or the market here Reports of rains in, ,erferiIg
with the harry esuing OF wheat in Argentine and
that the eXportable surplus would be reduced in
consequence one of the items of he DAVIS
news that, like good many more, received very
little attention.
December, during the final hours trading, moved
irregularIy between 81 OS and 81 OF, closing
nervous At that price. May had reacted to Sac
at the close, while January wound up at 94l2C.
Corn was dull but firm, the range being i2c TO
6Sc The tone was due largely 10 the advance in
wheat, closing 3sc higher.
oats was quite active and strong in sym pathy
with wheat May closed 3sc hi -her.
Not much tnteres was manifested in provisions
] he closing prices were higher. January pork SC
higher January lard T12c higher and January
4bs &c higher, at the close
The leading futures ranged as follows: