The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-08-21

Chicago. Aug. 2O.-wheat scored a
sensational advance, today, at every
market in the world, with the excep-
ton of Paris.
During the regular session of the
Chicago board of trade, September
wheat gained SIS cents and December
SIS cents. On the curb, after regular
hours, another advance of 8 cents was
made, September selling freely at So
cents
The wheat pit on change, today,
presented scene of activity. the like
of which has not been witnessed since
the pairny days of 3. p. Hutchinson,
familiarly known as ''Old Hutch
The exact opposite of Edward Pard-
ridges famous raid in 1891 twas in pro-
gresS. That plunger began his opera
tons on the short side of the market
during the spring of 81 and forced the
price from in the SOS to 80 cents To-
day the advance places wheat on the
grounds occupied before that raid and
in position for even further .-ppre-
citation.
FELT EVERYWHERE.
The advance today was by no means
merely a Chicago bulge. Liverpool
started it, the English markets show
ing gain equivalent to 41A@44c per
bushel. Every American market fol-
lowed the example, New York gaining
59sc, ST. Louis 4c and the northwestern
markets Sc.
The strength of the English markets
was attributed to unsettled weather
and covering by shorts. The official
report Of the Hungarian crop, showing
IL to be the smallest in ten years.
might have had some influence Beer
bohm, the noted English statistician,
estimated European necessities at 1884,
100000 bushels, with 1s5, 600 600 bushels
of that amount required from America.
Cash wheat in most of the American
markets passed the dollar mark That
was the case at Minneapolis, New
York, Buffalo, Baltimore and ST. Louis.
The cash premiums here even in
creased to 8 cents over the Septem Der
option.
WAS A SURE THING.
The Liverpool advance being made
ahead Of the American, the English
traders were quick to accept a sure
thing" and 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 as much too low. Lack of
available wheat here made it impossi-
bic to do much cash business, and only
one lot of 100000 bushels was reported
sold. Atlantic clearances were extreme
~ large, and the total for the week of
100000 bushels, reported just after the
close, caused "a further advance of 3
cents. A few sales of September were
made on the curb at 961s, and trade
was quite free around 96.
With fluctuations so wide, Spectators
necessarily limited their operations. 1t
was a big market only in the sense
that every one took part.
THE BULL CLIQUE.
The mysterious "bull clique" whose
operations in July options were very
prominent, continue to be the topic Of
discussion. Their operations, day after
day, have made it plain that the vet
eran is at the helf but his identity
has thus far been kept from the pub
lie. Joseph Letter, a well known local
capitalist, is said to be heavily inter
ested in the deal. and a well known car
builder is supposed to have a hand in
the game. Although Pardridge's opera
tons have not been eclipsed, the COM
bine is now said to be long over 20,000,-
900 bushels of grain, nearly half of the
entire amount being December corn.
Profits. it is said, have already been
accepted, amounting TO over 81, 600, 600.
The campaign in corn is being pushed
vigorously, and prices today. advanced
about l cent with a further gain of u
cent after the regular close.
Oats also were aided by the bull
crowd and gained nearly 1 cent
Provisions were not affected by the
pool operations and gained only 5@7
cents.