The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1897-08-21
ST. AT CHICAGO.
Wheat Reached the 100 Cent
Mark at Chicago Today.
Corn and Oats Follow in thc
Trail of Wheat.
BEDLAM In NEW YORK
When September Started on Its
Journey to $1.25.
Struck $I.O3 and Stayed There
Corn Up a Cent.

4ions on September wheat today were
at 97c an advance of 4c over yester-
oay's close In five minutes 9S12c was
asked.
Corn also gave indications of boom,
the September curb price ranging from
soc to 3OAc, an advance of over cent
a bushel Ten minutes after the curb
opening September wheat had sold back
TO 971ac. December sold at 97Ac.
The opening price for wheat on the
regular board was csc fog September, a
jump of 5 cents bushel compared with
yesterdays final figures for regular
trading Sales were made all the way
between csc and 97c for September in
the first few minutes and 9619c was
touched for an instant.
The widest excitement was in the
coarse grain. Corn was up nearly &c
a bushel, oats up &c. 1t was sympa-
thetic, of course, with wheat. There
is a great short interest in each. Both
pits were jammed with traders. On the
214c advance in corn, Counselman and
other elevator people sold heavily.
Showers and warmer weather were pre-
dicted for the corn states tomorrow.
The corn market yielded on selling
by elevator interests and on the predic-
tion of warmer and shOwery weather
for all the corn states. Prices went off
a cent from the top.
Linn was a heavy seller of September
wheat His selling stopped the ad-
vance after the opening a good deal
of Yesterdays wheat excitement was
caused by the fact that the bull crowd
had calls on two million bushels Sep
tember wheat, which at the close last
night it called, increasing by that much
its September line.
The same crowd has calls good for
tonight, about 81. Linn sold about l.
900, 600 bushels September in this morn
ing'S trading around SIC. schwartz
Dupee did most of it.
December wheat gradually crept up
nearer the September option, reaching
96Ac while September remained nearly
stationery around 9114c. The Linn
selling of wheat today was regarded by
many as significant because he has, 1t
is said, had the largest local line on the
big advance in price and was about the
only local trader to get great proht
Gossip had it that w. d. Baker was
also selling
Just before II a. m. wheat began to
suddenly advance again and the price
jumped up to q new high point, over
topping anythiny yet reached on the
regular board-9S12c for September and
973zc for December.
The receipts of wheat at Minneapolis
and Duluth for the past week were re-
ported at 1,405 cars, against 1874 cars
the previous week and 2,297 cars the
corresponding week a year ago. rms
news was minute old here when the
tip-top mark of even curb trading was
passed and the record was 9SS4c tor
September and 9S3sc for December. Al
this moment New York was up to $1O5
Meanwhile the Schwartz-Dupee selling
of corn was keeping up a 33c for De
cember This firm had up to HIS a.
an. sold between two and three million
bushels of corn. Before 1l:5O a. M
September wheat touched 99c and De-
cember 9S1zc.
New York started this last advance
by showing no break when Chicago
yielded. Dispatches from the sea-
board were to the effect that cash sales
for export there were /, 100000 bushels
Yesterday. The crowd was bearing in
mind also that the bull crowd had calls
on one and half million bushels of
September at 81, and there were lively
fears that the calls would be good.
Bartlett-Frazer reported that they
had buying orders on corn from about
every foreign market. Closing conti-
mental cables reported Paris wheat up
a franc, equalling SIC advance per
bushel. contrasting sharply with yes
terday's relative weakness in French
The advance on the Chicago board
continued as the close of trading ap
proached At Has a. m. the price had
reached 991Sc September and SO Decem-
ber In less than five minutes Iater the
dollar mark was reached ana SchWarIz.
Ounce paid one hundred cents for lot
of September wheat. When this red
letter record had been made there was
a Temporary reaction to 9912c, but mo-
JnRnf
back again up to 997sc. When the clos
ing bell rang at noon, the official record
was 991Ac September, one-haf cent
below the top price for the day, or 61s
cents net gain as compared WITH yeSter-
days closing quotations.
New York Aug. 21.-With rush and
a deafening uproar wheat started out
this morning on its climb towards the
new level set by the bulls for Septem-
ber or December, S1.25 a bushel in this
market Every eye on the moor was
fixed on the big dial as the gong stroke
set the excited speculative machine In
motion Round and round went the
hands until 02A was marked for wheat
that closed officially laSt-night at 992sc.
and sold later on the curb at 1-O112-
As fresh high levels were reached the
swarm of writhing brokers in the pit De-
came simply frantic and the bewilder-
ing roar which aScended like a bedlam
to the living fringed gallery, reminded
political meeting than of a regular bus
mess in which thousands and thous-
ands of dollars were changing hands on
q nod of the head or the wave of a
card.
The first recorded sale of September
was made at 1.O2, representing an ad-
vance of 25sc over the official close.
Lated it whizzed to 1.0S15 in jumps,
sometimes &c, distancing the B@Ac
fluctuations that usually accompany
again to 0234, but subsequently bobbed
back again.
Gables from Liverpool came 3935sd
1,igher and added fire to the bull move
Tneuts Foreign houses however, were
not so unanimous on the buying side as
Dartially relieve the heavy demand. At
II O'Clock the market had Quieted some