Union County courier. [volume] (Elk Point, Union County, D.T. [S.D.]) 187?-1913, 1897-08-26
DOLLAR FOR WHEAT.
price GOES TO THAT FIGURE
IN MANY CITIES.
Reaches to Top Notch Amid Wild Elk.
citcmcnt-Somc Keaction-BiS Ad.
vance Abroad--Price as Compared
with That of Last Year.
Prices of Grain jun u.

Prices of Grain Jump.
Wheat has gone to the dollar line in
Chicago and in other cities has passed be-
vond that. For short time Beelzebub
seemed to have possession of the wheat
nit The instant the dollar sign went up
every man in the big Chicago Board Of
Trade building appeared to lose his senses.
The news came outside and went up and
down the business streets-"dollar
wheat" Bulls with rampant horns toss
ed the cereal to the zenith of the financial
sky. Bears rooted in the pit, trying to
find a hole into which the price might fall.
Fortunes accumulated in the twinkling of
an eye The prophets and the sons Of
prophets TO the seventh father and mother
npre right Dollar wheat was a reality.
S'ontinued heavy foreign exports, a
healthy demand from countries short of a
crop. distant rumor that the demand is
Still greater than the supply, took Sep
tember wheat Saturday morning at 9712,
made it dollar, then showed it back to
91la. December wheat closed for the day
at &a1% The lowest cash selling prices
Of the principal cereals last year were:
Wheat, SO cents: corn, 1912; oats, 14a.;
faxSeed 63A4; rye, 2S. Compared with
the September prices of Saturday the
increase in the value of the crop in sight
and the small surpluses Of last years
crop Oh hand is over $500, 100000. The
rapid and steady nature Of the advance
for the preceding ten days had an inspir-
ing effect in the thought that the era of
low and unremunerative prices had come
To ali end.
When men grab each other as if they
Iap,apfoI xShnp thoy to1l- iOr
at the top of their voices that is like
Choctaw to the uninitiated, when they
lose their hats. nearly drop their eyes,
clutch at the air. scream and stammer all
at the same time then wheat is at 81 in
the pit of the Board of Trade and the men
who do that are in the pit
When the sunlight streaming through
big windows into that pit is made gray by
Il flying cloud of dust: when in the hall.
ways of the stone building a distant roar
is heard like that of lions sometimes or
jackals at other times, coming down the
glen; when men limp into out-of- theway
places, drop into q chair, wildly clasp
their hands to their foreheads and gasp,
My God. I'm ruined" or when they come
out with red, flushed faces, clothes all
awry, eyes sparkling lips dry and hands
eclenched. saying. "Whatll you have"
that's also dollar wheat on the Board of
Trade. Such things took place Saturday
in that gray building the trading center
for the grain market Of this country. They
cheered when the dollar was reached and
the building trembled. Messenger boys
were flying in every direction. Telegraph
wires were carrying the news to every
part Of the world.
-Four years have passed since that price
was last reached. Some men have grown
gray haired waiting for it. Men who
have not laughed for years past came and
wen, with broad grns. Even hardened
bears had to chuckle-perhaps thinking of
future in which they may have their
day
The advance brought crush OF offer
ings from those who were willing to cap
ture the magnificent profits possible on
their holdings. Short sales at the price
were also regarded as u promising ven
turc and the result was that thousands
and thousands of bushels which were
seeking a market at 997A or even 99A
could not be placed. In the corn and oats
markets there was wild excitement, but
men rushed from it to take part in the
wheat whrl. Hats went into the air, old
men yelled and young men screamed.
Pandemonium had the pit until the close.
The weeks wheat market gave an illus
tration Of what foreign demand well sus.
tanned can do in the way Of advancing
prices. The net gain in the Chicago price
of September wheat was 1512c. This at
any time would be a remarkable enhance
ment OF values, but was the more note
worthy inasmuch as 1t came on top of
series OF advances of equal significance
and rounded out 80 per cent gain in less
than two months. There seems to be lit
lie doubt that n situation has been devel-
oped in which a high range of values can
be maintained with perhaps little refer
ence to the yield in this country. The
conditions Of demand and supply else.
where promise to make the price, and
from the outlook the farmers OF this coun-
try are not only to realize good prices, but
are to realize such prices in at least
fairly good yield
Aug. Is, 1891, September wheat sold
at 81 and S1.O51a. The next day it adj
vanced to Sill, and cash sold Mt ST .13,
and the third day was back to 81. 1t did
not get above S1.05A the balance Of the
month, and on Sept. 30 sold at 0Ska cents
TO S102. Present prices are the highest
since that time.
Wheat closed in Chicago Saturday Acc
higher than year ago, and Liverpool
was 41hc higher. The following gives
the closing prices Of September wheat
Saturday at the points named. the closing
Friday and for the corresponding day last
year:
One year
Saturday. Friday. ago.
Chicago .... $500. 00La % SIN
Minneapolis ......... 9TH 91M 54h
st. Louis .......... 1O2E 90& 01h
Duluth $3.50. 49,. .iOOK OAK 5SN
New York .......... 1861 99A 64h