Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-08-23
Market Breaks Sharply at New York
and Chicago.
DUE MAINLY TO REALIZING SALES
Quotations From European Points
Showed Rise.
OTHER GRAIN IN SYMPATHY

| NEW YORK. August 23.-wheat had an
| other sensational opening today but less
| one-sided than of late. Bulls were startled
to find heavy selling orders from foreign
ard other sources. which broke prices dur
| ing the first half hour about cents a
bushel from the highest curb price of sat
| urday. December opened at S1.0i, broke TO
slolI under vigorous selling pressure and
| then rebounded Violently to Slo4ia later
weakening to S1.G,34. Liverpool cables Were
| exceedingly strong at 4l2d.a4s4d. over SAT-
| urday. The French markets were disap-
pointing. The feeling was felt in many
| quarters that IL was time 10 ge; profits on
| wheat. even though IL might eventually
| rush through TO sl.25. Corn was also veiy
| active over a wide range Of prices. Sep
tember opened IL higher al IS. but later
fell to 81. with break in wheat.
The Tumble In Chicago
CHICAGO, August BIN anticipation of
seeing wheat go to s1.05 the galleries of the
board OF trade were jamm ID his morning
ty sightssers. But they were dis1pp
in this, although witnessing a decidedly
lively opening. There a perfec; Hood
of selling orders in all the grain pits and
this profit-taking knocked the top OF prices
SO quickly as to make traders heads fairly
swim. Opening from .Eia to 9Slc. Satur-
The higher of
two figures, September wheat tumbled to
a5c. almost before the crowd realized what
had happened.
But it was quickly apparent that many
expected wheat to go way beyond the
magic 81 mark and offerings of all kinds
were eagerly snapped. The limit to the
letting go was apparently reached when
10 cents for September touched. and
prices again bounded a9IR being reached
In almost quick time as the decline had
occurred. Again the market turned. this
time a reaction to ?Sh occurring The De-
cember option in the meantime was not a
whit less active, the opening. in fact, show
ing a rather bewildered feeling among
traders.
First offerings of December. which closed
Saturday al ?9ls, ranged all the way from
81 to 91l2, and while September was taking
its toboggan trip December came tum-
bling after, falling to 9i$4. There 1T
brought up with jolt and rebounded to .
99H, where 1T struck the wall again and
went back to ss On the curb September
had sold high 81 .02i2 Statistics were
rather lost sight of in the opening excite
ment. but they soon began to control the
market.
Liverpool opening prices showed advances
of AZ and 4I2d. Worlds shipments last
week amounted to 1.210.oO0 bushels of
which 5,21S.oo0 bushels came from Ameri-
ca, fact which attracted a great deal Of
attention.
ordinary 5.0o0-bushel lots. The break in
wheat. the milder weather and the big
receipts checked the corn market. The
Armour. Smith and Bartlett-Frazier were
large sellers of corn.
Fra ace Will Not Remit Tax.
LONDON. August 23.-A dispatch to the
Pail Mall Gazette from Paris, printed this
afternoon, says:
There will be no reduction in the tax on
imported wheat and flour. The reply of.
the government tc the representations of
the subject says that the temporary search
ty of wheat in the French market is owing
to the bad harvest, and that so soon
the American and Australian wheats ar
rive at French ports the situation will
right ITSELF
Continuing. the correspondent of the Pail
Mall Gazette telegraphS:
The government. especially now that the
elections are drawing near. is mortally
afraid Of offending The small peasant, who ,
usually grows wheat. On the other hand,
the working classes. who constitute the
mass of the population in the large towns,
still live largely on bread.
Flour Goes Ip i'm Paris.
PARIS, August 23.-Flour rose fifty GEN.
times a sack at Marseilles on Saturday.
and a further rise is expected, though the
impending arrivals from New York and
Brenos Ayres are expected to check the
rise
The agitation for the abolition of the
duties on grain is spreading rapidly, and at
Tarbes, Rodez and Cetto there is much ex-
citement the subject.
The Figaro expresses the belief that the
rise will not last long, no scarcity is
feared, adding that the socialists will not
succeed in their alarmist campaign, which
they are alleged to have sprung for a po-
litical purpose.
The Justice declares the price of bread
has no relation to the present price of
wheat.