The herald., 1897-08-21

markets. Private cables credited the Eng
lish advance to rainy weather and excited
covering by shorts. The first prices in this
market were made simultaneously at from
971s to 9Sc for September and 96s4 to 97ssc
for December. The latter displayed the
greatest strength during the day on large
buying orders from local houses and others.
Subsequently September dropped to 81 un-
der realizing sales. but at noon was chased
to 99Ss by frantic rush of buying orders.
Throughout the day fluctuations were
very erratic, at times eaping A01ac be-
tween sales. The trade was considerably
amused over the stories of enormous
profits being made on the boom. At one
time here today cash wheat was nominally
worth 1.O615 for No. / northern f. o. b.
afioat, and No. red 1.041s. A year ago the
former sold at 6i7s and the latter at 691s
u69as The price of September a year ago
was 6Sss and December 66. Bullish spring
wheat news was an important factor in the
advance all day, just as it was yesterday.
The full range on September today was
from 81 to LOO. the close being $685.. De-
cember opened at 96asm97ss, sold off to 96,
up to 80 and closed at 9S4. Total transac-
tions were S,355, 900 bushels. Export sales
were 115 loads here and out ports, includ-
ing three cargoes for France.
Minneapolis.-Cash wheat sold today at
a dollar for the first time since the summer
OF 1890 The prediction today is that futures
would follow within a few days in view
OF the advance OF cents today. On the
chamber of commerce floor there was a
shout of expectancy from the pit as the
price approached a dollar. The market
was strong, opening SC higher than yester-
days close, supported by strong foreign
news and the bullish northwest reports
The price of cash wheat had Just passed
the dollar point, when from down the hall
way came the sound of martial music.
There was a rush for the door and the
crowd broke into cheer as up the corridor
came c. A. Pillsbury at the head of a band
of music, which was pounding out the
Dollar Memorial' march. Mr.. Pillsbury
led his band through the doorway and on
to the floor while hats went up and cheers
proclaimed the entire satisfaction with
which a majority received the news of
dollar wheat The market whirled away
and very few attempted to keep up with it.
The advance was steady from the OPEN
ing. AT one time over &c gain from yester-
day was realized and September wheat
closed in Minneapolis 57sc higher than yes
terday, and December closed a full &c
higher. September wheat opened SIC
higher this morning at SSh, dropped to IS
and advanced to 91la. closing at 9l1s. against
S5A yesterday. December opened at SS and
closed at 90d901k, against S4 yesterday.
st. Louis.-Wheat was higher. closing 4c
for September and 47sc higher for Decem-
Der and May than yesterday. After the
inaugural scramble the market quieted
down but was nervousy sensitive to 6ear-
ish news. The crop advices from the north
west continued to come as bullish as it
possibly could be, the greatest strength in
wheat here and elsewhere (s1 being paid
for it both in St Louis and Mnneapolis),
and reports of heavy export buying at the
a ted h1111 1icb t;pr Il
kept the market on the jump Later it
eased off on realizing sales by longs and
some selling for short account but at the
close was firm.