The San Francisco call., 1897-05-12

the purchasers were All day offerings were quietly
absor rbed. Brokers have not heretofore been iden-
titled wi large operators. The use OF those
brokers was to throw oif suspicion as to the real
buyers
July opened at 72ss@721sc advanced to 721ac
ana de clined to TIC On account OF bear RAID.
shorts tried to cover around TIC their efforts ad-
alifornia slar ed a food of long Wheat for sale
Before the market WAS again In control OF the
bulls July had dropped 10 71$4c Denials OF this
report by reliable California houses made the
| bears very active in getting back their lines
| The demand for cash stuff was urgent Export
ers reported foi eigners buying at market quo a.
tions Export clearan largely increased. Liv-
erpool took builish view OF The Governm nt re-
port to-day. Closing cables quoted prices 12@ld
higher Than yesterdays close. ST. Louis turned
buyer during tue last hour OF The session
shorts to covering Pnces jumped 14c betwe N
trausac ions. The gain amoubts to 134c from the
low price of the day, or s4c higher than yester-
days close.
Armour was credited with to-day's buying Cud-
ahy, Linn, Phillips, Barret and Baker were strong
BUYERS during the last hour OF the session. Un.
dou otedly they had been buying all day under
cover
lines put out under 7Oc The bears have
used every effort of late TO depress prices and were
more or les; successful, succeeding in bringing out
two or three large .Ines of long wheat held by
prominent traders The government report, in
stead of being bearish first predicted, is decd-
edy buliish.
Basing crop conditions of winter wheat upon
State repor anu crop expert in formation the per-
centage Is about 1909 against 80 0z as S own b.
the Agricultural Department The former repors
have heretofore been nearer correct than the one
sent from ashington. This report was made on
spring wheat The late season has caused serious
setback to prospects. The acreage VIII not be as
large as generally anticipated. Gather condi-
tionS are not satisfactory.
Bushels.
Receipts of wheat at primary points 313.06d
Shipments OF wheat at primary points. .3SS'Uzo
Receipts OF wheat at tidewater polnts -. 81 I,o2i
Exports Atlantic ports. l49,5l2
hrmer feeling was shown in corn. BAD
crop report, set sh,rG sellers 10 guessing how
much they could make if they were to get every
cent that was left. The acreage IS materially re-
duced. Stocks very much lower than gener-
orally supposed
Good buying by commss on-houses advanced
prices 5s934c, remarkable advance consider
Ing the smaii fluctuations OF late.
Department report did not give conditions as
favorable as had been predicted
Provisions dull Trading moderate. No special
fea. ures to the marcel.
oats were IN better demand
San Francisco.
Gals A. NJ SESSION.
Wheat opened this mornins, showing more
strength than was anticipated y the crowd yes
terday afternoon Wealth, conditions con inue to
be the controlling factor in making prices.
Predictions for to-day favored rain along the
coast and over the San Joaquin Vail y AS these
forecasts did not prove correct, ,he result wa. a
stronger market December opened at 81 2612.
and advanced to 81 u. with Transactions fair
liberal. tnvste reports from the sacramento an
San Joaquin valleys gave toe weather as very
wa M, with rap dIy rising temperature
Rain has bee. p. omised so much traders VIII ac-
There was no trading done in barley during the
session Jus. after the close Deccm Der wheat
sold at 81 a. due to strength in the Chicago
market.
10:15 A. NJ SESSION.
Bull enthusi am has been slightly tanned by the
weather man, W no promised a material change in
coDdi, ions during the afternoon and tonight.
Foggy her outside would move inland and p.o-
duce very marked change along the coast and
throughout the valleys.
Chicago also began TO show signs Of weakness
about This :ime. Wheat opened at 81 267s for De
cember, sold at ST 81. Atths price offerings were
plenty. AT 81 .634 there appeared enough buying
10 offset the el ing
Barley was only sparingly traded In. Decem Der
80 a. 76s4c.
11:15 A NJ. SESSION.
A sudden advance of cent in Chicago gave
wheat in this marSet S.rJng start he local
crowd had an tcipated d lower closing in Eastern
markets. TO their surprise the Top price of the
day recorded the final quotation December wheat
sold between sessions at 81 1854. and quite a
large amount of trad ing was done.
The opening was CSC higher han the closing of
the previous session. rading started in at
81 273s. out the advance met with strong resist
ance. ffenngs were rathe- heavier than the con-
dtion of the market would take resulting in
weakening lrceS 3sc. Al the decline buyers were
more numerous a.u seemed TO ouJnumber sellers.
lower prices. rading in wheat is becoming
larger daily, each session bringing fresh
ders for outside account After the close of the
session December wheat was 81 2TSs bid
p. NJ. SESSION.
Wheat was in fair request, buyers and sellers
transactions made at 81 273s. More activity was
displayed in May than usual. Offerings
somewhat increased. sales made at 81 356s.
Barley active and over. December opened
Mt Z 34c closed at 1879. One s-l- in May
761ac Easier feeling caused by predicted cooler
wea her with possible rain.