The record-union., 1897-12-10
Reaches the Highest Point at Chi
cagO Since 1891.
Sales Made as High as 81 09 Per BusheI
for December Delivery.
Lively Bidding and Great Excite
ment in the Pit-Other Grain
and Provision Markets More OF
Less. Influenced by the Rapid
Advance in Wheat.

CHICAGO, Dec. 9.-Not since Au-
gust, 1891, has any months delivery
of wheat sold as high as December did
to-day 1t rose from 1912 at the open
ing to 100, but in most irregular fash
ion. 1t had many a sudden backward
slide. but in the end it rested at 107,
or the net increase of 634c for the day.
January was a good second, winding
up with a gain of 3 cents. May was
less demonStrative in its bullishnesS.
It's advance was 11sc a bushel. Other
grain and provision markets were more
or less influenced by the advance in
wheat. Corn and oats closed asc high
er each and provisions 5@71ac higher.
Wheat was very nervous at the start.
Shorts We're evidently alarmed by the
announcement that the bull clique had
made arrangements to ship by rail all
the wheat delivered them on December
contracts, and had also made advan-
tageous storage contracts in the East.
The consequence was there was a host
of buying orders for December at the
opening, mostly of moderate lots, it is
true, but they had the same effect on
the already strained market as if they
were for millions. There was no wheat
for sale.
December closed yesterday at 81 00l4.
but the opening ranged all the way
from 81 011a to 81 04, and at the top
there was scarcely a bushel to be had
This precipitated a perfect scramble
among the shorts, not in December
only. but in January and May also.
Before wheat came out 81 05 was
offered for December. Then came a
lull which lasted for an hour. The
brokers operating for the bull clique
attempted to stem the tide, but prob
ably from 200, 900 to 30, 900 was taken
before a reaction occurred. December
declined to 81 031a, but by 11:45 had
again risen to 81 %.
Then came the storm. Within five
minutes, and amid a whirl of excite
ment, December was bid to 81 0S. 1t
reacted with a jerk to 81 O612, then
up again without a stop to 81 %, the
highest point bid for wheat in this
market in six years. Probably as
much wheat was sold on this advance
as on the earlier one. After that the
market was quieter.
January shorts in the meantime had
not been idle. That month opened
strong at from 93@94c, and it sold as
high as 97c during the excitement, an
advance Of 512c since yesterday. 1t
was figured that the influences con-
trolling December also applied to Jan
uary, and the shorts got under cover
as quickly as they could.
May was also very strong, though it
did not have the same panicky appear
ance as the other positions 1t open
a Wi
| terday's closing price of 901aG9O3sc,
and had advanced by noon to 925sM
9224c.
been left as usual, to take it's imprint
from those things that usually affect
it, a decline would in all probability
have occurred. Liverpool opened firm
at an advance of Esd, and closed only a
shade higher, although they must have
known before the end of the session
of the early considerable strength of
the market here.
Reports Of rain interfering with the
harvesting of wheat in Argentine. and
that the exportable surplus would be
red iced in consequence, was one of
the items of the days news that. like
good many more, received very little
attention.
December during the final hours
trading moved irregularly between
81 OS and 81 or, closing nervously at
the latter price. May had reacted to
92$sc at the close, while January
wound up at 941@c-
Sc. LOUIS MARKET AFFECTED.
ST. LOUIS, Dec. 9.--The bulge in
wheat at Chicago to-day showed it's
effect here. December opened at 99$sc
bid, advanced &c soon after, and later
sold up to 81. The advance in Chicago
caused some uneasiness among the
shorts here, and they began to cover.
This. with q good demand that had
developed, started the price upward,
and it shortly touched ST OH. Later
jump to 81 or was recorded. A re-
action set in, and the price dropped to
81 Ole, but just before the close the
market became strong and the top
price, 81 or, was touched again. The
close was at that figure bid.