The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-08-22

ever, as the bull pool called a line of
100000 bushels at 81, and September
sold freely on the curb at $1.00A.
Today's market was a bull furore,
stimulated from start to finish by
heavy advances in the foreign market
and sales of 100000 bushels to foreign
ers yesterday. The seaboard clear
ances were large; but, compared with
the cable news, all other matters were
insignificant. In the first hours trad
ing there was a good deal of important
realizing by clever local people who
have withstood the temptation to real
ize handsome profits all through a 35-
cent advance. 1t is generally under
stood that William R. Linn unloaded
100000 bushels around SO cents, which
he has accumulated from 64 cents up.
Several other important lines were un-
loaded and gave the market a tempo
rary setback during the first hour.
The bull pool was not credited with
any selling, it's operations being con-
fined to the corn market. Seven min
utes before the closing bell tapped Sep
tember wheat sold at 81 after having
reacted from 9SB cents several times.
At the even figure only two trades
were recorded, and 991a cents was the
ruling price at the close, a net ad-
vance of 619 cents. So much wheat
was called at 81 that the price was cas-
lily forced to $1.OO% after the closing.
While the wheat pit was boiling all
through today's session the trade was
not extraordinarily broad. The aver
age speculator and scraper was par
alyzed by the wildness of the market
and restricted his ventures according
ly. An advance of 35c in six weeks
has practically driven small traders
from the market, and not a single
failure has been announced. Today
was one of fierce margin calling.
Every house in the grain trade was
compelled to put up money as it has
not done in years. This afternoon con-
siderable anxiety was apparent. It
was argued that the advance had been
going too fast for safety.
There was a tremendous corn mar
ket today. UP almost three cents at
one time and advancing another cent
on the curb. The tactics of the bull
pool pit stirred the corn pit to g furor.
They sold about four million December.
on the advance and later ran the mar
ket through calls and got back their
long 1lLle. Higher CABLES ana cdSn
sales of 100000 bushels were the chief
bull cards. Receipts are growing
heavier daily and extremely favorable
ccrn weather is reported. Outside
speculation seemed to prefer the corn
pit today and it's diversion from which
to the cheaper cereal no doubt con-
tributed to the phenomenal advance.
Oat prices gained two cents, prin-
cipally in sympathy with the other
markets Yesterdays spectacular
operations were not in evidence, but
a considerable volume of outside
orders forced the Improvement Pro-
visions were slow in the extreme, that
pit being practically deserted.
The scenes on the floor of change
and in the galleries today were the
liveliest in many years. City people
flocked to the Jackson street entrance
of the big mart long before the open
ing bell tapped, and they kept coming
all day. Country spectators, too,
were much in evidence, although not in
such great numbers as might be ex-
Dected. Dollar wheat has been the
slogan of the bulls SO long and their
motto has been received with so much
derision by the bears that the reality
seemed to almost stagger every one.
Dollar wheat, the bulls now cry will
look cheap before their campaign is
closed; and with an undiminished ex
port demand their predictions NAV
prove true. Meanwhile the farmer is
reaping the golden harvest and the