Lewiston teller. [volume] (Lewiston, North Idaho) 1878-1900, 1897-08-27
PANOEM0NIUM IN PITS
WHEAT HAS JUMPED TO THE DOL
LAR A BUsHEL POINT.
Chicago Change Went Grassy, Ne"
York and MINI en- polls Also
DeliriOus.

Chicago, Aug. 2l.-Wheat scored
sensational advance yesterday at every
market in the world, with the exception
OF Paris. During the regular sensation
of the Chicago board of trade, September
wheat gained So cents and December 81
cents On the curb. after regular hours,
an advance of 3 cents was made, Septem-
Der selling freely at 96 cents.
The wheat pit on change today pre-
sented scene of activity, the like OF
which has never been witnessed since
the palmy days of b. p. Hutchinson,
Familiarity known as "Old Hutch" The
exact opposite of Ed Partridges famous
raid in 1891 was in progress. That plunS-
er began his operations on the short side
Of the market during the spring of 1891,
and forced the price from in the ninetics
to SO cents. Today the advance placed
wheat on the ground occupied before the
raid, and in. a position for even further
appreciation. The advance today was by
no means merely Chicago bulge. Liver
pool started it, the English market show
ing a gain equivalent to Al cents per
bushel. Every American market fol-
lowed the example, New York gaining
81 cents, st. Louis cents and the north
western markets 6 cents. The strength
of the English markets was attributed to
the unsettled weather and covering by
shorts. The official report of the Hun
garian crop, showing it to be the smallest
in 10 years, might have had some in
huence.
Beerbohm, the noted English sta
tistician, estimated European necessities
at 49,, 100000 bushels, with lS5,OOO,OOO
bushels of that amount required from
America.
Cash wheat in most of the American
markets passed the dollar mark. That
was the case in Minneapolis, New York,
Buffalo, Baltimore and st. Louis. The
cash premiums here even increased to 3
cents over the September option.
The Liverpool advance being made
ahead of the American the English trad
ers were quick to accept u "sure thing"
.andF quietly absorbed all cable offerings
at last nights figures. New York put the
export engagements there at 100 boat
loads, but this figure was regarded az
much too low. Lack of available wheat
here made it impossible to do much cash
business, and only one lot of 100000 BUSH
els was reported sold. Atlantic clearances
were extremely large and the total for
the week 81 $500, 600 bushels reported just
after the close caused q further advance
of 3 cents.
A few sales of September were made
ON the curb at 06A, and trade was quite
free around DC.
With fluctuations wide, some specu-
lators necessarily limited their operations.
1t was a. bid market only in the sense
that every one took part.
sMysteriOus "Bull Clique"
The mysterious "bull clique" whose
operations in July options were promi-
nent, continue to be the topic of dis
cussion. Their operations day after day
have made it plain that veteran is ut
the helm. but his identity has thus far
been kept from the public.
Joseph Letter, well known local CAP
italist, is said to be heavily interested
is supposed to have hand in the game
Although Partridge's operations have no.
been eclipsed, the combine is now said
to be long over 2O,OOO,OOO bushels OF
grain, nearly half of the entire amount
being December corn. Profits. it is said
have already been accepted amounting to
over $2,OOO.OOO.
The compaign in corn is being pushed
vigorously, and prices today advanced
about cent, with a further gain Of hall
cent after the regular close.
Oats were aided by bull crowd, and
gained nearly cent.
Provisions were not affected by the
pool operations, and gained only S to
cents.
Other Markets Excited.
st. Louis, Minneapolis and Duluth nj
quoted 81 a. the price Of cash wheat in
their respective markets. The reports o.
foreign buying of cash wheat at New
York were of Sensational character
Everything offered in the shape of wheat
or -four to London, Liverpool, Bristol
Hull or other United Kingdom ports wal
accepted, and before noon $4,000 bushels
had been sold for export at New York.
San Francisco, Aug. 2l.-Intense ex
element prevailed in the local wheat mar
ket yesterday and options advanced with
great leaps. December opened at $3.50
receded for moment and closed at 81 COG
After the call there was an advance t.
$l.6l4. An hour later it rose to 1863, but
at Has there We're large sales to secure
profits and prices had sharp decline
This afternoon December wheat opened al
$l.64 and closed at $l.63a.
Quotations at Portland.
Portland, Or, Aug. 2l.-The local wheat
market, being governed yesterday entirely
by the foreign markets, responded t.
the advance in the east, in so far as
warranted by Liverpool quotations, and
exporters quoted s4a cents for Walla
Walla and 50 for valley as the top fig
ures, based on the. present stiff charter