The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1897-08-06
San cisco.
Gals A. II. SESSION.

A. H.
bad break in Chicago wheat caused a weak
opening In the local market December, 81 Al,
dec med to ST. 1874, advanced TO ST ATS aud
closed at ST. 1853 May ranged at 3sc premium
over December. Barley weaker December
sold at Gle
1915 A. NJ. SESSION.
Eastern markets shade firmer. Wheat held
steady above prices of he early session Crowd Is
disposed to trade cautiously, not forgetting their
past experience.
1l:15 A. SESSION.
Chicago's weakness at the close started heavy
selling at he start of the closing morning session
Country selling orders numerous Deem
Der opened at 81 1855 under strong selling. but
offerings found ready buyers. The market gradu-
ally advanced 81 46Ts. regardless Of general
selling. May, nominalv 81 AZ. 1t begins TO look
as if May wheat will sell under December. Barley
steady; 9Oc bid, 91c asked.
9 p. NJ SESSION
Wheat opened stronger reported better feel.
ing in Eastern markets. late English cables say
that the Continent is out of the market for the
presen. If so, their minds have been quickly
changed which is quite improbable Late advices
reported 100000 bushels of wheat (No red win
wheat opened at 81 47M and closed al 81 437s.
May 81 1875. Both December and May are ing
at the same price. against spread Of cents one
month ago in fav T OF May. December barey, ZIG
Chicago.
First Liverpool cables gIaddened the hearts of
the friends OF wheat his morning Their Joy was
to be OF short duration. The second cables arriV-
ing just before the opening of the session, gave
wheat prices in tn. Liverpool market 1ad lower.
This unexpected turn of Sffairs started a feeling
of uiscontent among holders, who attempted TO
sell i the ear V curb, without finding buy ers
above 7712c for September, against 7S1ac al the
close yesterday. By the time he gong sounded. a
weak feeling had crept nto wheat. A the
start Septem Der sold at 77as@77c which proved
the high point OF the day. During the first half
hour the price worked down to 1896 railylng 10
77c. fferng' were heavy while the buying was
restricted.
spot wheat about 100000 bushels being engaged
at that port early in the day. 4 his into nation
steadied prices for q few moments. After the news
had grown slightly old another spell over
took the IN arket This time Septem Der was driven
to 1870 by offerings of long wheat. Buying by
shorts on this break rallied the p;ice to 1854 C,
The advance was met by large offerings by shorts
who were on velvet and were playing II. ] he
market continued TO decline until the c,ose sep
temb.r sold al 1880 and May at 1870, closing
1Sc higher
Kansas tity received 100000 bushels of new
wheat. Toledo showed large increase in re-
ceipts bu, likewise large shipments.
Anything in the way of bull news seemed out o.
place and not wanted. 1t was overlooked like a
white chip. The bears had their machinery well
oiled and they proposed TO use 1t, and they did, to
the great disadvantage of longs Many stop-loss
orders were reached the way down. To-day
break has the appearance of a 'shake-ouL" A
great amount of wheat IS held by outsiders who,
it thought " Ill unload on sharI bre ak there by
giving the big fellows a chance o buy back their
wheat at big profit TO themselves. 1t is only a
question OF staying by wheat One must bridge
over tue pre- SeHI war lHeoe DeElOuS Guile W
every market
Condition have not changed so strikingly over
night. Traders should not be deceived in allowing
themselves to be misled by a crowd maniT u
lators who working the Liverpool as well AS
American markets. a further depression may &C.
cur tom orrow, brought on by selling out of long
wheat Once this pressure Is lifted from the
mar&et the reaction Will De swift.
French markets not reflect he weakness on
this side The whole situation is of force
without jnstiiCa ion. supply and demand wi
&C just prices i'll the long run, regardless of what
manipul ators may do in the middle ground.
MOYEMENrS