The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1897-08-24

OF the World Except Paris-The Jump of
Several Cents Per Bushsl Yesterday
Causes Much Excitement and Cr~at Joy
The Event Celebrated With - Band uf
Music on the Floor of the minneapolis
Exchange.
Chicago, August 20.-Wheat scored a
sensational advance today at every
market in the world with the excep-
ton of Paris. During the regular ses-
sion of the Chicago Board of Trade,
September wheat gained 57sc and De-
cember sac. On the curb, after regu-
lar hours, another advance Of SC was
made, September selling freely at Ssc.
The wheat pit on change today pre-
scented a scene of activity, the like OF
which has not been witnessed since
the palmy days of B. H. Hutchinson,
Familiarity known as "Old Hutch" The
exact opposite of Ed" Pardridge's
famous raid in 1891 was i'll progress.
That plunger began his operations on
the short side of the market during the
spring of 81 and forced the price from
in the nineties to SIC. Today's advance
DIdCeS "Icdl oh lax SIooiio o1Sopi>o
before that raid and in a position for
even further appreciation.
The advance today was by no means
merely a Chicago bulge. Liverpool
started it, the English markets show
ing a gain equivalent to Az to 4Ac per
bushel. Every American market fol-
lowed the example, New York gaining
5%c, ST. Louis &C and the northwestern
roorlynf~ Go Tho cfronOfh n f the
English markets was attributed to un-
settled weather and covering by shorts.
The official report Of the Hungarian
crop, showing it the smallest in ten
| years, might have had some influence.
Beerbohem, the noted English statis-
tician. estimated European necessi-
ties at 384, 600, 900 bushels with 49,, 0OO,-
! 900 of that mount required from
| America.
Cash wheat in most of the Ameri-
can markets passed the dollar mark.
That was the case at Minneapolis, New
York, Buffalo, Baltimore and st. Louis.
The cash premium here advanced &c
over September option.
The Liverpool advance being made
ahead of the American, the English
traders were quick to accept a "sure
thing" and quietly absorbed all cable
| offerings at last nights figures.
| Lack of available wheat has made
it impossible to do much lash business
| and only one lot Of lao, 900 bushels was
| reported sold. Atlantic clearances were
!. extremely large and the total for the
[ week of $500, 900 bushels, reported just
after the close, caused a further ad-
vance of &c. A few sales Of Septem-
| Der were made on the curb at 96kc and
trade was quite free around Septem-
! Der.
With fluctuations SO wild spectators
necessarily limited their operations. 1t
vas a big market only in the sense
that every one took part.
The mysterious bull clique" whose
operations in July options were very
prominent, continue to be the centre
of discussion. Their operations day
| after day have made it plain that a
| veteran is at the helm, but his iden-
tity has thus far been kept from the
public. Joseph Letter, a we'll known
local capitalist, is sale to be heavily
| interested in the deal and a we'll known
car builder is supposed to have a hand
in it also. Although Pardridge's OPP
! erations have not been eclipsed, the
! combine is now said to be long Of 90
000, 900 bushels of grain, nearly half Of
the entire amount being December
| corn, Profits, it is said, have already
| been accepted amounting to over ST.
| OOO, 900.
The campaign in corr is being push
ed vigorously and prices today adj
vanced about 1c with a further gain
of Rc after the regular close.
st. Louis, August 20.-Cash wheat
sold for $1.OO a bushel on sample to-
day. The only carload sold at that
price came from Kansas. It vas
choice grade n vas bought for seed
ing purposes. Dollar wheat cut a
figure in the trading a second time on
the call. when 5000 bushels of May
sold at hat price. 1t was the first Op-
ton trade made at the price in six
years. The September and December
options again broke all records today
and got within hailing distance of the
dllar mark.
New York, August 2o.-One forty
o'clock today September wheat in the
local market reached the long talked of
goal Of 81 per bushel. Clearly enough,
the incident created a tremendous SEN
sation on the floor Of the exchange and
was greeted with prolonged cheers
from half a thousand threats, being
re-echoed from the crowded galleries.
Several times during the early after
noon, the bulls snapped the price with
in &c of the desired mark, but a re-
tur wave of selling orders each time
swept it back again. The final and
successful effort was made under the
impulse of export rumors reaching
enormous figures. September was
hanging around 99B when the export
news was first whispered about, and
at once danced upward in response to
excited local buying. Higher and high
err it whirled, watched by everybody
OF the floor until the big black figure
on the record dial pumped fairly on
the even figures and dollar" wheat
in New York was an accomplished
fact.
Now that the bulls have attained
their boast, they are as far as ever
| from being satisfied and claim that the
/ a Of bull sentiment which has
spread like fire all over the country
will carry the price here to at least
$1.25 per bushel n perhaps even
higher. That dollar wheat is already
a thing of the past was demonstrated
one the late curb when further clamor-
Gus demands from high strung local
shorts raised the price to 1001l2, or a
cent a bushel advance from the Off