The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-09-25
LIVERPOOL CONTROLS cEtcAGo.
Reports of Damage to Argentine Crop
and Russian Offerings.

Chicago, Sept. 2t.-In wheat prices
around the. opening were controlled en-
tirely by the action of the Liverpool
market. That market started at s. I'd
decline, but before the opening here
had not only recovered this. but added
ed to yesterdays closing price. The
reason given for LiverpooTs strength
was q report of damage to the Argen-
tine crop by frost. That was consid-
cred unlikely, and another private mes
sage from Liverpool said the report
was without foundation. The market
here, however, took sufficient notice of
the report to raise wheat from 92% to
927s, the closing price yesterday having
been 92A @929s. The advance encour-
aged sellers and a quick reaction fol-
lowed to 917S. It was stated on the floor
that a special session of the British
parliament was being talked of to con-
slider means of relief for the sufferers
on account of the Irish potato crop fail
IRE. The bringing OF this feature of
the worlds food situation before the
traders undoubtedly was influential il,
the advance to SO, which followed the
decline to 913s One decidedly weaken
ing factor was the continued heavy To-
cal and northwest receipts. Chicago
received 229 cars, % of them Of contract
quality. The quantity inspected out of
store was only % 600 bushels. Mime
apclis and Duluth received 1001 cars,
against 1913 a week ago, and 722 the
corresponding week of the year pre-
ViOuS.
The bun clique was left alone in a
great measure TO do all the fighting
against the bearishly inclined section
; of the local operators. Most of the
heavy traders expressed themselves as
unwilling to buy during the continu-
ance of such heavy nortlhw estern re-
ceiptS. New York reported that for
eigneTs we're sellers of futures early in
the session. A private cablegram from
Berlin read; Wheat declining; Danu-
bian states and Russia are Offering
freely The Atlantic port clearaucss
OF wheat and flour were 100000 bushels.
| Primary market receipts amounted TO
1,217, 522 bushels, compared with S62,
SAT the corresponding day of last year.
The closing prices abroad showed the
following changes compared with yes
| terday's final quotations: Liverpool,
! No. 2 American red and No. 1 northern
spring, Id lower; futures from 3sd@Bd
higher. Paris, confines lower for
September and 8 centimes lower for
later futures. After the advance to SO
! the market reacted to 921A. A slow adj
vance to 92M followed, but the weak
( ness of closing cables caused another
reaction, the price of December drop
ping back to 9274 @929s by closing time.
| Trade in corn was dull, and the
| small amount of business made a rather
! heavy market December ranged be-
tween 3Oa4 and 3o7s and SO9s @3O1s. The
market followed wheat on its decline
and for the remainder of the session
ruled very quiet and fluctuated within
a narrow range, closing q shade lower
at 309s bid.
Oats fuctuaHed sympatheticalIy with
wheat and corn. Elevator people sold
moderately The market was very dull
during a greater part of the session.
| December closed a shade lower at 205s
! G20%.
Provisions were weak on account OF
the bad yellow fever news, and lqui-
! dation of October contracts for ribs
At the close December pork was 1919
lower at $50, December lard Is lower
at 445@4474E, and December ribs TX
lower at 4.824z. October ribs de
! clined Is
The leading futures ranged as follows:
VILE II