The herald., 1897-08-25


heavier the bottom seemed to fall out, and
not until September touched 94h and De-
cember 92 was there a stop in the mad
rush. The lull was only temporary how
ever. Selling soon became general again
and stop loss orders were reached. The
price did not reach the bottom of its severe
sinking spell until September was down to
91M and December 90A. The trade by that
time had become very narrow and the
traders tired with their previous efforts
were not disposed to buy or sell except
when tempted by an exceptional offer or
enticingly high bids. The increasing weak
ness as the session advanced caused by
further break at Liverpool making the
days decline from AID to 41hd per GENITAL,
and an equivalent decline at Paris, al
though private advices from the latter
place received earlier had claimed an aG-
vance. The Paris decline was / franc for
August and GO centimes for November
February. or SIC per bushel for the one
and 27sc per bushel for the other. Antwerp
also sent lower quotations, but was not
so radically weak as the others. The Chi
oago receipts were 1884 cars, only 20 of them
contracted. and 5000 bushels were in
spected out of store. The Atlantic port
clearances were equal in wheat and flour
to ASP. 900 bushels. Before the close Sep
tember had sold as low as 81 and December
to S924 Closing prices were September 91%
end in the corn deal was apparently we'll
on its way today. Unloading was started
at the opening. Everyone who had long
corn appeared anxious to sell. and it was
currently reported that the bull .crowd
threw over almost their entire holdings.
September opened at from 3015 to 3O de-
cline of from y to 1c per bushel, before the
price reached bottom for the day it sold
down to 2SA. The closing trades were at
IDpcamhnr c n ltp at
or two fives down to 325s. 1t went as low
as 30 and closed at 301R. The business In
oats was extremely heavy and prices at
one time showed a 11sc decline. Selling was
liberal, especially by the long holders. Ele-
vator people also sold heavily. September
opened hft5sc lower at from 1873 to 1S%,
sold to 1915 dropped back to IS and rested
at 1875 bid. Bradstreet's report of the
visible supply showed an increase of 2551-
600 bushels, which. with small increase
in the stocks of contract grain here count
ed in with the bearish features. The mar
ket was given fairly good support and ad-
vances ensued. but the sharp decline in
wheat and corn ultimately had their effect
on provisions.
The bull pool, which has been so success
fully handling enormous lines of wheat
corn and oats on change, announced al the
close today that they were practically out
of the market, with the exception of a lit
tie September wheat. which they say they
will take on delivery 1t had been felt for
several days that the pool had been try
ing to do too much. When the campaign on
wheat was begun several months ago. it
was regarded as a very difficult undertake
ing. The bulls became masters of the sit
uation, aided by the news from abroad
and piled up enormous profits in a short
time. When it came the pool went into
corn to the extent of about 10. 900 600 and oats
amounting to about 15.0G0 O00 bushels, and
nervousness was renewed SO long as
everything kept moving up. however it
was not very acute. The bull difficulties
began with the spectacular calling of
wheat on aSturday at LOS when it could
have been bought cheaper in the pit. When
prices began to drop on Monday margin
calling increased. and the anxiety was re-
lieved only by the announcement tonight
that practically everything had been sold
out. Although it was believed that the
line of December corn showed n loss, Geo.
French, who has been handling the deals
for the pool, says everything was sold at
Il profit. He says that several prominent
grain merchants pooled yesterday and
forced him to unload The corn pit TODAY
was the scene of enormous dealings. One
broker sold in Que hour 100000 bushels
owned by the pool.
The leading futures closed as follows:
w neat, NO -
September Observation-Disclosures. .91%
| December new. .9Oh
May ......'.........'.......... ...9l%
Corn. No. 2
august .ESet
september .2S9s
Decempef ...'...................... .S0l2
May dJ5S
Oats, No. 2
September Observation-Disclosures. 1Sas
December 1o3l
Cash quotations were as follows:
Flour easier, prices nominally lower: No
? spring wheat 91s4d92sl; No. 3 spring
wheat. S5G92: No. 2 red. 9124@92s4 No. 2
corn, 2S12@2S5s; No. oats. 1S7sd1S1a: No. 2
white, f. o. b.. 22M23; No. white f. o. b.
19l5n21R; No. 2 rye, so; No. 2 barley. nomi-
nal; No. SO, f. o. b.. 3S6i45; No. 4. f. o. b.
27@31; No. 1 naxseed. 1.OSM1.09; prime timo-
thy seed, 2.s5; mess pork. per barrel, s4O1
S.45; lard, per 100 pounds. 4.5712: short ribs
sides 0oose), 515@5.40; dry salted shoulders
(boxed), 5@5A: short clear sides (boxed)
5%I5la: whisky distillers' finished goods
per gallon, 1.22.
Receipts. Shipments
Flour, barrels. s........... 1900 $4,000
Wheat. bushels. .15S.000 1874 600
Corn, bushels. ........ 653, COO 1872 600