The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-08-27
MARKET SUMMARY.
FINANCIAL

CHICAGO, Aug. 26.-Wheat ecllpsed the
top-notch price Of the present bun campaign
today. the September option reaching Sl.oS92
and december, sec. After exceedingly wild
fluctuations, September closed at $3.50, and
December at 9STsc, advances of 21sc and sc
respectively. The furry in September was
hut the result of another turn of the screws
bv the bull clique, while in December the
advance was caused by bullish cables and
crop news. Corn was the most active mar
ket on the floor and showed a 1Ag1Bc ad-
vance at the close. Oats advanced about sc
and provisions 10000.
The first fifteen minutes of the session IN
wheat was as bad quarter OF an hour lor
the shorts in wheat and corn, as any IN thelr
roca,+ most exasperating experience. The
bun clique got back with compound force at
the people who called margins on its brokers,
so heavily Monday. September wheat opened
at from 93Ibc to ST. or from ia to SAC higher
than It closed yesterday, and mounted half
rent at a time until about ten minutes from
the opening 81. O312 was bid, price SIC over
the previous days closing price. December, IN
the meantime, had reached CSC, starting at
from 94%c to &c. which quotations were
lssd1s4c higher than at yesterdays closing.
For q few minutes the market hesltatea at
those prices then decline to 99c in Septem-
her and 941bc in December ensued. The busi-
devoid of sensational features, and the heavy
trading at the commencement dwindled into
a sputtering fire of fves and tens among
the scalpers, during which September worked
up again to 81 and December down to gao
Probable or at least possible removal OF the
French import duties on grain, the wholesale
failure Of the potato crop in Ireland and else,
where rehash of all that was knoWn, anu
much that was purely imaginary regard I'M
wheat and rye crop shortages IN various Eu-
trio
ton that the clique could with equal ease
put September wheat at Sl25 or 50c per
bushel all contributed to the unsettilng OF
the traders minds which the early nucIua-
tions indicated
Chicago received 2S5 cars. of which only
15 were contract. Minneapolis and DuLutn
week, and 4S6 a year ago. Ihe quantlty IN
spected out of store was 2O4,507 bu. The
Atlantic port clearances were again very
heavy, being equal in wheat and hour TO
525 O0O bu, 653, 600 blu of which was In shape
OF wheat Liverpool quotations were very
irregular, ranging from 1Ad to 2a4o above
the previous days closing price ana resting ag
with net advance for the day. Of from "a
TO 21Ld. Antwerp was unchanged, but Paris
was equal to from lie to 1Ac per blu higher
The feature of the market was the small
cash business the rapid advance in price hav:
ing brought that business to practical
Gtandstill New York wired that Europe &C
eepted very little wheat offered from this
side last night September worked down to
9S12c, and December to 931ac, but by c.oslng
time those options had recovered to 9SBc,
and 93sc respectively.
There was an immense business in corn,
so great in fact that it was almost impossi-
BILE for traders to get into the pit once they
got out. Many faces familiar in the wheat
pit were seen in the corn crowd, and OUTSIDE
business was very heavy. Receipts were
heavy, and estimates tomorrow We're even
larger, but this fact was lost sight Of in the
scare over drought, fears of frost and bad
crop reports. Elevator people sold freely, as
did people who bought on yesterdays break,
the result being that not all of the advance
was maintained. The opening was strong and
excited. September started about a cent
higher at 3024c, and ranged between 3lAc
and S0Ac, closing at 30%c asked. December
opened at from 33c to S2asc, an advance of
and closed at 33q3S1sc. Exports were S23,oo0
bu.
oats were comparatively dull. There were
no signs of selling by the bull pool, which
ing was strong under good buying orders
and comparatively light offerings. de-
cline followed, due to the break in wheat
and corn, but the market became firm again
There was increased outside buying. Re-
ceipts were $50 cars. September opened about
1ac higher, at 1912c, sold at 19c, and closed
ct 19Ac. December opened 1ac higher at
2034c sold between 207sc and 2Gasc, closed at
209sc
Provisions caught some Of the grain ex-
element, though business was only moder-
ately active. Nothing counted so much as
the news that the potato crop abroad is very
short hogs in foreign countries being fed
on them. A Strong live stock market and
the advance in corn were also factors. At
the close, September pork was zoe higher at
$3.50; September lard 15c higher at $40, and
September ribs 15c higher at $50. Estimated
receipts Friday: Wheat, 800 cars; corn, l.
$50 cars; oats, $40 cars; hogs, $1,000 head.
The leading futures ranged as follows: