The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-11-05

Broke 2 3.4 Shortly After Opening
on Effort to Unload.
THE RECOVERY WAS ONLY PARTIAL
An Enormous Export Business Done
at the Decline-Corn Lower,
hut Oats Higher.

Chicago. November At there is
bull clique In wheat, as is generally be-
leved the market got away from II to-
day for a few moments. 4 break OF about
| 25s took place shortly after the open
ing, followed by an equally sharp rally.
| An attempt TO dispose Of a long line bought
some time ago started the trouble. The
market was nervous to the close, which
was at s-s decline for December. An
enormous export business was done at the
decline. Other markets were scarcely ruf-
FED by the violence in wheat, corn de-
clining hut Is, while oats closed a shade
higher Provisions advanced 2hMich.
| Wheat opened firm at a shade above
yesterdays closing prices. Liverpool was
stronger than expected showing but SD
decline, while Paris was ID 20 confines
in the face Of yesterdays IS cents break
here. Light local receipts we're sus-
taning influence shortly afte, the open
ing at which time nac inhsr was Quoted
at o5hN951s the market was struck with
one ~ those extraordinary Jarcs that
every once In while knock iEto sn, 9Th
Greens all calculations based On thc san
lty Of the operators. The panic vas ap
narently the result Of IN unsuccetsful
arrange mont for the selling cut Ct line
of $50. 900 bushels December wheat, uron
which the holder had placed viii ris broR-
ers stop loss limit when he bought It
ten days ago. To insure tho rrun.pt exc
cuton of the order the brokers'. In antcl-
patton OF It's reaching this .oiu. today
divided the amount among tea ar mcre
| other agents and of course when III, mar
ket got within i-l6c OF the limit which
| APPEARED, general selling panic struck
! the crowd ard II became imp 7ssible to t
| rid of any wheat until the market hal
dropped about &C from the opening price
Ct December. May also suffered but not
nearly so much that option declining u
| NJ 3-S, about ic under the opening pIice.
Buying orders were quickly distributed
among number OF active brokers by
George Il. French, supposed TO be the
leader OF the bull clique. through whose
| efforts the break in the market was
mendcd in an even shorter time than it
had taken to smash It, December had
sold down 92. but 1t advanced 10 So with
out a stop.
Receipts at Chicago included llS cars
hu nd - Inn hal l,,t
lake from Duluth. Minneapolis and Ds-
luth received 1927 cars, against 9s9 a
week ago and $40 last year. The Atlantic
port c,carances were again worry neavy
80 900 bushels. New YORK adviccs were
very hullish rs regards the number OF
boat loads said to have been worked Tor
export on the carry decline CLAIMS Dcia5
made OF as many as 10 loads or $50 0OU
bushels.
The Cincinnati Price Current was de-
cidediy beaiish In it's weekly rcpor,, say
ins that the rains east o. the NJ ssissippl
had frightened the wheat crop situation
very much. In addition more rain was
predicted for tomorrow The market was
very unsettled after its carly break ana
rapid recovery but it. made no more wild
ekips. The tendency was to slrk and even
the reported taking Of 4 total OF 1872 boat
loads at New YORK and outports failed TO
held IL up. December wobblel between
- IA and ~ rs, but it closed at "a. as
against rs Ia yesterday. May closed at
u Us, or only Ia above It's lowest on the
big break.
Corn was dull but considering the en-
rate way OF wheat It was very steady.
| slight advance was noted at the open ng,
due to the small reccipts--S27 cars. When
the sensational break In Sheat occurred.
prices dipped 3-S from the hgn noint but
recovered later, December showing but is
decline at the close.
Oats were firm, particularly during the
early par OF the SESSION. The break In
wheat aud corn was not responded to. even
though business was inactive. 1hA utgent
demand from exporters for the cash article
was back OF the strength.
Provisions were dull but firm with the
exception OF a short time after the OMEN
Ing, when the gyratons OF wheat produced
a somewhat unsettled feeling, OFFERINGS
were very small and with moderate de-
mand prices rallied little. Trading
throughout was unImportant. At the c.ose
December pork was ioIi21s higher at
I,67s December lard higher at {. 2b and
December ribs 2ia higher at 4,4na.
Esumated receipts tomorrow Wheat,
100; corn, $50; oats. $40 cars; hogs 26 900
head.
nee leading futures ranged as follows;