The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-09-17
ANOTHER DROP IN WHEAT,
Liquidation Of Speculative Holdings
Was Feature.
CORN ALSO CLOSED AT A DECLINE
Provisions Took Turn for the Ret.
ter-ForeiGn Grain Crops show
Improved Conditions.

Chicago. September 1e.--The bulls II
wheat had favorable foreign crop advsces
and the break In the drouth to contenf
with TO-DAY. and got severely hurt as
consct uence. December closed at de
| cline Of l3sc. Corn was easier on account
of the rain and closed Nc lower. Oats
were unchanged at the close, while pro-
visions. for the frs. time IN week. show.
ed strength and closed unchanged to 1OS
higher.
In wheat the Liverpool opening quota
tons did not produce the usual e1ect al
the start here. Notwithstanding an open
ing advance of about sd at that market
and a small gain at Paris. opening quota
tlors FOR December being at a decline.
They roagec from 9sks to 1885, compared
with yesterdays closing price of 9iis@94ss.
vt was for sale dn largo quantities at these
figures and continue6 to be urged upon
buyers until few minutes from the start
when tho price was forced down to 1914
That proved the railyinG point for 1c
upward movement.
The crols in Ir'dis and Argentine were
we'll spoken of In today's advices, and re-
ports from those countries were Influential
In the early weakness. An exportable
surplus of from $4,000 900 to 65,0Oo,00o BUSH
els was estimated for Argentine, notwith-
standing reports Of damage by locusts,
while general rains In India had i'm
proved the prospects for u bountful crop.
Oh aago received 351 GERS of wheat, 80 OF
which were of tho grade of No. spring,
and there was none of contract quality.
Minneapolis and Duluth received 901 cars.
against s32 the year before. The total
primary Western markets receipts for
the dry were 1,43o coo bushels, against $685.
1870 the corresponding day of the year be-
fore That comparison with the smaller
receipts last year WAS one Of the chief
bear arguments.
The Atlantic port clearances amounted
In wheat and flour to $4,000 bushels. New
York reported good inquiry for export
and the taking of 80 boatfoads. This en-
courc sad the bulls and an advance to 94A
followed INC decline to 1914. The fact that
premiums were being paid for cash wheat
at Minneapolis aid Duluth attracted at
.ention and helped to minimize the effect
of the liberal receipts at those points.
Closing cables reported Liverpool Nd
higher for September and l4d lower for
October. Traders watched the operations
OF tho bull clique brokers and followed
them so closely that the market fluctu.
ated 1apidlv on q Comparatively small
trade. After the advance to 94A, Decem-
Der declined to 1885 and rose again to o.
Then what little support the market had
Disappeared. and by closing time Decem-
her had declined to 9Sism93A.
Corn was weak all day, affected by the
breaking Of the dronth. rains being re-
ported in most of the corn States. There
was very heavv selling by the bear pro-
fessicnals. A feature of the market was
the putting Of large line early In the
day evidently with a view of hurrying
along the decline. There were predictions
of frosts West on Friday. and this caused
some rally from the bottom. Atlantic
c,earances werc $4,000 bushels. Receipts
were so cars. December ranged from
3l% to sl9s, closing at S1iaG31ss, a decline
of nc.
Oats were very strong but steady. The
cash demand was not so good as Wednes-
dav. but receipts were small-295 cars
Little interest was shown and fluctuations
were confined to nc range. Clearances
We're $4,000 bushels. December ranged
from Il TO 2l1s, closing unchanged at the
latter figure.
Provisions ruled firm after a weak OPEN
Ing. The yellow fever news got in its
usual work at the beginning helped by a
weak hog market. but packers were good
buyers on the break and continued to alb
Sorb ne offerings throughout the session.
The market had apparently thoroughly
liau!dated IN the last few days and SELL
ing was left to professional bears. AT the
close pork was 10c higher at SIS Decem-
Der lari 7laI10c higher at 4.57la@I4. go, ribs
unchan Ped at $50.
Estimated receipts tomorrow-Wheat 260
cars. corn s25 cars oats 2i5 cars, hogs 49,
the Ieadins futures ranged as follows: