The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-08-15

CHICAGO. Aug. 1.-THE shorts in wheat
had another shaking up today and September
advanced 2?sc from the low FOint and re-
tanned an Improvement of 2i2G123sc. Rumors
| that the French government would remove
the imoprt duty on wheat and predictions of
frost in the Northwest caused the upturn.
Very little cash business was done and re-
ceipts were liberal. Corn was helped by pre-
d.ctons of frost and gained &c. Cats were
steady 10 a shade easier on dull speculation.
Pork lost sc and ribs 212c. Lard closed
unchanged.
Wheat opened firmer today than it ruled
near the end of yesterday $ session, the open
ing price for September being from S1&4GY2e,
against Sll2GS1'sc at the close yesterday.
1t had a spell of relapsng weakness that
caused a temporary dip to Size, and that
was followed by returning strength THAI
raised its price 10 seize Another temporary
depression was followed by a still more vigor-
Gus interval, and during the continuance Of
the latter. September rose to $3.50. The most
influential factor was the bad reports that
every one appeared to be getting concerning
the condition OF spring wheat N the North
west. 1t was rumOred that the French minis
try had authorized some change in the duties
on wheat IN the direction Of a reduction CT
as some interpreted it, in the way of
some indefinite way. the lessening of the
import duty in France would enable the grain
dealers of that country to feed their own
markets with foreign wheat and the demand
would be chiefly directed to America. As
the price of wheat at Paris quoted in
the first dispatches at advance of NC it
was fairly good evidence that there was no
knowledge n Paris up to that time of any
change in the rate of duty. As, however,
later kilograms reported decline there equal
from 1as@to 4c a blu, the rumor began to
gain credence and prices were rushed up
with will. The receipts at Chicago for the
week were 63S. 900 blu. and shipments $50 43S
Blu. The days clearances OF wheat and flour
from Atlantic ports were equal to SIS eco bu.
Beerbohms estimated the shipments to
Europe from all countries for the week at
eco bu. Argentine id not export any
wheat against $4,000 blu on the similar week
of last year. The excitement continued until
few minutes before the cIage and Sep ember
sold at S43sc, within sc OF the highest price
touched on the recent bulge. September
opened 12@3sc higher at Sl3s@S2c, sold be-
tween Size and S45sc closing at Sic Corn
was firm notwithstanding general rains
througout the corn belt. Trade was not
heavy until the end of the session, when
the strength of wheat and rumor of frost
in the Northwest added to the fears Of the
shorts and encouraged the bulls TO show more
aggressiveness. September opened at 277sGl
2S1sc, and closed at 22%sG2S15c.
pajS We're quiet IL .HGhout. Prices ruled
steady. Chicago receiy 81 500 cars. September
opened at 1850, and closed at 175kc. sellers
Speculation in provisions was ex ,remeiy
dull, although the cash trade assumed quite
respectable proportions. The September OPP
$40; RIBS, $4.S719
Estimates; Wheat, $50 cars; corn, 1o5o;
oats, 125; hogs. $4,000 head.
The leading futures ranged as fellows: