Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-08-27
WHEAT AND CORN MARKETS.
Room I'm the Lower-Priced Cere"'
Predicted Now.

NEW YORK. August 26.-The speclla-
,ivo attraction In grain circles To-Day
WAS the corn market. The ring was
surrounded from start TO finish py
large crowd OF brokers', most OF whom
were bulls. who had buying orders when
brought the total business up TO 'ooV''
bushels A tip had been given out Una.
corn wae good for big rise In the mex,
few weeks. and investment buying was
a feature OF the day. Many OF the ois-
eest operators are now Interested III co'"'
Word came from Chicago that the corn
ring there could not hold the CROWD Oh
traders who were trying 10 execute VI
ders. The country is interested IN the
predicted boom. and bought ireeiy 'o-
day. ,.or,oor
corn broke loose from It's hlgner piiV.u
cornnanion. and had little bulge on us
own hook. The crop news ~ unih's an
abIv gloomy. The frost season Is near
al hand. and. from all accounts, the gram
&c So far behind it's average growth
a, This time of the year. that even with
tho most favorable weather from no"
ON q will enter the danger period at
disadvantage.
WHEAT ABOVE 81 IN CHICAGO.
CHICAGO August 26-To-day. for fhe
erst time since the present bull cam
,aign I'm wheat was started. wheat sou
above the dollar mark in Chicago. len
minutes after the opening N.@ IL was
offered an advance over yesterday
closing price Of 81 cents. Even AT that
tempting figure. however the DUH ciiquo
refused TO let so OF their hViuiiss'
Enough wheat came on the market 10
break the price TO 50 rs cents by the tiiho
the closing bell sounded, but brokers VINO
are engineering the deals stoutiy detieu
that IL came from them. There was. per
hans. a shade Of righteousness In the
way they forced shorts to bid prices UP.
II was currently reported on Monday
wher prices broke so sharply, that thc
nool was forced to put up 100000 In
margins. They certainly had their re-
venge to-day The rise was plainly due
TO the CLIQUE which is now swelled by
rllmor to include Joseph Letter, George
y French. Allen, Grier & Co, and James
Keene. of Wall street. The only leader
George II. French-who appears disunct-
" above the surface, makes no secret
that he has line Of 5,OO0Oc bushels Oh
September wheat There is not more
than 10000 bushels Of contract wheat III
Chicago. with hardly anything coming
sold for export. This Is the situation as
it now plays into the hands of the Dull
combine.
MINNEAPOLIS AND ST. LOUIS.
The sudden rise of September was not
reflected in any other large market in the
country. with the exception of Minneapo-
lis. where September bounded from ~
cents to 81 ST. Louis advanced cents
at one time, but relapsed TO the opening
price for December.
Although statistics were not given much
attention, one item of foreign news had
n distinct influence. The foreign potato
crop shortage is estimated mt the enor-
nous total of 600 01o,0o0 bushels. when
Is expected to increase the demand Tor
American wheat. It's influence was espe-
cially felt in December wheat, which Is
not supposed 10 be under the thumb OF
any clique. ,
Corn and provisions were both anectea
nv the excitement ia wheat. In corn the
trading was enormous, and although an
advance OF but 1-Sltl IL cents was re-
corded. the feeling was very strong al
the close. The closing prices for pro-
visions were from is TO 20 cents higher
than yesterday.