The San Francisco call., 1897-07-31
SdH II TdHCISCU.
9:l5 A. NJ. SESSION.

San Francisco.
9:l5 A NJ. SESSION.
Wheat bulls seem to have everything G their own
way. Strong Eastern m arkets giving ira ders con-
fdence. December opened at 81 As and declined
to 81 4412 on profit taking saes closing at
81 441s. May, 81 1855.
10;l5 A. NJ SESSION.
Shorts clamoring for wheat to fill contracts.
Decem ber sold at 1 4512 at the opening to 81 46,
the highest point reached on this crop There
were liberal offerings at ST. 46, causing reaction
to 81 455s al the Close. May sold at 81 475s and
closed at 81 471a
11:1b A. NJ. SESSION.
A big break fu Chicag wheat caused stampede
of selling at he opening. Decem ber openei at
81 44Ia@l 445s and declined to ST 4414 on lib
eral offerings t the close steadier fe ling pre-
vailed December stopped at 81 443s May,
81 45 70 G1 461s Decem Ter barley, nothing doing.
pm. SESSION.
Wheat was In better demand at the afternoon
session. Decen Der opened at ST. 441a advanced
to S. 44Ts and closed at 8 4434 Nav, 81 469s
at s5c and almost the same moment s714c was
bid Selling TO realiz- dropped the price to 61sc,
where 1t rested a. the close
Chicago.
A very strong feeling prevailed in wheat before
the regular opening this morning. The curb gave
indications of what nigh be looked for during the
day. Liverpool and Paris cables came strong,
fully apprpt iatfnC Yesterdays advance on this
side New FORK and Boston wired shortly after
the opening Of large engagements OF wheat for
foreign account Manv cIop-damage reports were
received from the Northwest. Some of these ad-
vices followed by puyiDg rders and gave
evidence of the ok ent OF damage
Private ndvces from liverpool and Paris were
verv encouraging to holders, September opened
at 74@743sc, against 1886 at the close yester-
day. Deem er z 1a@75S4c Realizing sales at
the start held prices emporarily. few safes
were made at 74c in September on the decline
ST Louis and Baltimore startet an advance
which did not stop until September had reached
ThIsmTGc. DeCamhPr
Heavy selling by longs supplied the wants OF
shorts around these prices. As soon as their buy
Sep,em with Dee ember following at pre-
MUM oflssc Buyers were scarce at the break.
hoTts tried put ont their lines. but forced
to sell at prices much below thos- at which they
had been forced TO buy short while before
Receipts to-day were slightly under estimates,
but were $4,000 bushels heavier than one year
There VIII be no session of the Liverpool Grain
Exchange until Tuesday. This had much TO do
with holders selling ont to-day.
The conditions continue to be foreigners against
Americans rhe later Rnnot understand why
whra should advance in the face OF heavy re-
oepts backed up by big crop. Manv cannot for
get 50cent wheat. Regardless of these influences
foreigners buying futures well rs spot
wheat. Opinions of brokers of little value, as
they unable to judge the conditions of foreign
ers. The local talent which have"hPret fore con-
tfolled the :tuation have. been badly whipsa wed
trying to find the top. They have only been
caught short to again be forced to cover at oss.
The deal in July seems to be over. yet there re-
mains one day to m anipulate July 1t is thought
that shorts have covered pretty generally. The
few that are left are not worth skinni ng, too
much spot wheat would have to be taken to make
good the risk u shorts
i he month just closing has been eventful one
in the w heat market 1t is not often thai wheat
advances in July. The misfortunes In foreign
countries this year have proved godsend TO
Americans.
WaIl-street operators were the first to accept
true conditions, ana have aged the bull side of
wheat continually. Their operations III wheat
have had more or less effect on securities They
have played for prosperity, and so far have been
successful. Later strong adva in ocean
rates, which had much to do with the break in
wheat the close, reported in to-day's ses-
sion in New York.