Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1897-08-28
WHEAT OVER A DOLLAR
IN NEW YORK MARKET
For the First Time Since 1896 Cash
Wheat Stood Alongside of
the Dollar Mark.
A FINE FRENZY AMONG DEALERS
Money Being Seat West by the New
York Bankers to Handle the
Crops 80 Price Was ON
Immediate Exports.

New York, Aug. 2f.-Dollar wheat is
never made two blades grow where only
one grew before gathered together yes
terday and juggled with grain by the
million bushels until they achieved a
thing which Will inspire the farmer all
over this continent u throw aloft his
hat with Joy.
The wheat pit of the produce exchange
was wrought up 10 a fine frenzy Of buy
ng activity, inspired partly by the Eu-
ropean demand and partly by the re-
port Of damaged crops in the northwest
and the price OF wheat went capering
upward until the dollar mark was
reached and passed by a fraction of a
cent. II was cash wheat for immediate
export. known as No. 4 northern, that
was thus distinguished, and II sold at
Sl.O0A.
This Is the first time since September,
1895. that cash wheat has one up 10 81
per busheL. IL then sold at that figure
for a day n two, and Immediately de-
clined. With the stirring OF millions in
wheat comes the stirring Of millions in
money. 1t Is no unusual thing for the
banks Of New York 10 ship $3.50. 900, 900
into the interior for the crop movements
at this season. This year the amount
bid fair TO be larger han usual. A
roundm million was sent west by the Ma
tional Park bank TO meet harvest crops.
The first authentic statement from an
expert that the damage 70 the crop was
II serious momen came from c. A. Pills
bury, the Minneapolis miller. and While
traders generally believed that his pic
ture Of the situation was exaggerated,
they bought wheat on IL and the shorts
ran TO cover. This was the handspring
Of the late market. P~andemonlum broke
loose in the wheat pit at the produce ex-
change. The history Of the early mar
ket was one Of a considerable show Of
strength. Another stage was reached
about 1:30 o'clock, and hen there was a
lull until ? o'clock. when the upward
stretch was extended and cash wheat
reached 3l.00A.
Wild Day in Wheat.
Chicago, Aug. 20.-There was an
other wild day in wheat. September
sold on curb at 90 SIS, advance over
yesterday. close 3 IL cents and the
highest figure touched for several
wears. Higher prices at Liverpool,
DulllSn flOp tSlillAdtt7 hum NhiAilitd BD
lis and extensive crop damage in Hun
garia were the chief factors in the ex-
element.
First transactions on regular board
at 80 l-2d90 IS, and price quickly
jumped another cent 70 81 l-2.
The fact that Liverpool advanced
equal TO Q 1-2d3 ID cents, in spite of
the break here yesterday, tended to
make the whole pit believe the for
ign situation too strong for any oppo-
sition from this side.
Later, however. on selling TO realize
great profits in sight, a reaction en-
sued to 90 IL cents. The pit was ali
excitement, the trade was not large,
though all commission houses are
having a hand. All concerns with ror-
eign connections had buying orders.
A dispatch was shown saying the
millers at Easton, Pa, are paying 81
a bushel.
At one time the advance at Chicago
was 4 3-S cents over Yesterdays close.
The market continued to- fiuctuate
frequently within about a cent range,
but about 1890 September touched
% 1-2, the advance since the close yes
terday being 6 SIS cents. A quarter of
an hour later December recorded the
same price. which is 6 II higher than
that option closed yesterday. Reports
from New York are that 10 boat loads
were taken for export and the sale of
No. / northern at 100 IL cents there,
were factors in the advance. Since
July 6 wheat has gone up % cents.
The extreme figures were not again
touched and the market closed a half
cent below the top.
There was much excitement at las
p. m, when September wheat sold at
81. The strength was due to the talk
of a million bushels being taken at
the seaboard for export.