The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-12-14
T DAILY, SO A YEAR. ~
CENTS A COPY.
WEEKLY 2-TIMES-A-WEEK 81 A YEA4
PRICE OF WHEAT PARALYZED.
DECEMBER OPTION AT CHICAGO
DROPS FROM s1.O5 TO 07Ac.

Rallies &c nt the CIOse-The January
Option Moves In Sympathy with
Dccember and Falls From 07 to-
021a - Wheat Rushed 10 the city
From Every Section of the Grain
belt to Get the Benefit of the Big
BuII Movement.
Chicago, ILL.,, Dec. 13-The wheat bulls
began to feel to-day the effect of the
prices which they permitted last week.
The inspection sheet showed thers
had been rush of grain i'm
this direction from every quarter
as much probably as 100000 BUSH
els contract grain in forty-elght hours. A
little inquiry showed that the Inspections
sheet did not begin to show all the arri-
walls. One elevator concern had cargoes
aggregatng 800 600 bushels In the river not
a bushel of which had been inspected. Ar
mour and Weare had cargoes, and the
car-lot sheet showed jump. The major
lty of this grain was to fill short contracts
made months ago. Some of it had evil
IDENTIFY been brought, however, to get the
benefit of the Chicago December price.
There was a scattering December selling
by elevator people. against new receipts
Of this sort. Armour was credited with
more of 1t than any other interest. The
December bulls themselves sold more or
less December in order to hasten its de-
cline. There was a remarkable drop sn
price ia cents, but IL was accompanied by
no corresponding excitement and by no
great trade. December opened at 81 .05,
sold between $l.05 and 97l5 cents. and clos
III 1T
enced by the May option as IL has been
all along, dropping from 81 to 921s cents,
and closing at 1914 cents.
Ihe Letter party did to-day what their
friends thought they ought TO have done
last week-let down the December They
did not sell much, because the market
would not take much, and because Armour
was selling enough TO make the price
weak, but they finally helped to break the
price. Everybody Is stll astonished that
the December bulls permitted any such
price as ruled last week
To-day's deliveries clearly shows the re-
suit of the Chicago premium. Mlnneapo-
lis adyices were that the Letters had peo-
pie buying up there in order to Increase
the difficulty Of bringing the Minneapolis
grain down here. The elevator people are
still keeping the December bulls in the
dark as to the amount of contract grain
they are to get. Practically no delivery
has been made by the big shorts, Armour
and Weare. Derrington- Hanna have de-
livered about 100000 bushels.
Washington Dec. 13-The agricultural
department to-day issued the following:
THE special wheat investigation instituted
by the department of agriculture Indicates
a crop of 530,000,000 bushels. These figures
are subject to slight modification in the
final report"
Springfield, ILL.,, Dec. 13.-The reports 10
the state board of agriculture of date. Dec.
J. show one of the smallest areas of win
ter wheat ever sowed in the state this
year, the total acreage seeded being esti-
mated at 14S3,300 acres, a deficiency OF
il4OOO acres, or y per cent. compared with
last years acreage.
The area devoted to corn this year was
TO5l,5OO acres, the lagest since 1886, the
total yield being 239 100000 bushels.