Lewiston teller. [volume] (Lewiston, North Idaho) 1878-1900, 1897-08-27
Tacoma Market Excited
WILD EXCITEMENT IN CHICAGO.
New York Buys Heavily at Five
Cents Higher.


Cents Higher.
Chicago, Aug. 23.-Dollar wheat wa
reached in Chicago Saturday. The Sep
TENDER option reached the figure few
minutes before the close, and wound
up an exciting days session ut 50 l..
cents an advance Of 6 l2 cents since Fri
day. December closed at an equal gain.
For the first time since the recent pine
20 large blocks Of their holdings, which
in measure relieved the strain. The ex
element in wheat was shared in by all
other markets, trading in corn especially
being tremendous.
September wheat, which closed Friday
at 80 cents, opened Saturday anywhere
from 81 to 80 cents, and kept plunging
around wildly for an hour between these
figures and 90 l-2 cents. Enormous guam
titles were sold at those figures by peo-
pie who had previously bought it, the
sales of one of the best known spectators,
w. X. Linn, aggregating millions OF
bushels. 1t was the current opinion that
had he not come into the market the
long looked for dollar market would have
been reached in IA few minutes after the
opening. 1t was not difficult to account
for the remarkable opening advance. Liv-
erpool quoted spot American red winter
wheat at 4 "a cents advance, while Cali
fornia wheat was Ia cents higher Crop
reports from the northwest were even
worse than have heretofore been received
some predictions placing the crop Their
at not to exceed seven or eight bushel
per acre.
Pleased the Prophets.
The dollar-wheat prophets were all
gratified Saturday. After an absence Of
six years the much-talked-of figure re-
appears for moment during the regula,
session of the board of trade and the
century mark passed on the curb after
change closed. The days market was
bull Juror stimulated by heavy advances
in the foreign market and sales of 2,OOO,-
600 bushels to foreigners Friday. An ad-
vance of IS cents in six weeks has practi-
cally driven small traders from the mar
ket, and not single failure has been an
gin calling. Every house in the grain
trade was compelled to put up money as
it has not done in years. In the after
noon considerable anxiety was apparent
The weeks export Of wheat and flour
from both coasts amounted to 5,2lS,M
bushels, compared with 100000 bushels
in the week previous, and 1891 600 for
ho VI,oolr Of tho
before.
Huge Corn Sales.
Bushes in the corn pit was on all
immense scale, millions of bushels chang
ing hands during the session. The pit
was crowded all day with excited specu
lators, and price fluctuations were rapid
and violent. The shorts made mad
rush to cover at the opening, and forced
prices up l2 cents over yesterdays
closing. Holders of long corn let &
there, their selling being prompted by
predictions of warmer weather in the corn
belt. Elevator people also sold heavily on
the advance, and l cent reaction ensued
The market was influenced greatly by
wheat, however, and prices again ad
vanced.
The buying craze was also manifested
in the oats market and extremely heav!
business was transacted.
Provisions were also in great request
and sharp advances all around were
scored at the opening.
He Checked the Market.
Lynn sold about l,OOO,OOO bushels o
September wheat in the mornings trad
ing around 81 cents. 1t was Lynn's sell
ing that stopped the advance after thu
opening. just before IL o'clock whca
began to suddenly advance again and tn
price jumped up to a new high point, over
topping anything ever seen on the regu
lar board, % l-2 cents for September. 4
little later the record was % ga cents TO
September. At this moment New Yorl
was up to $l.O5. Meanwhile Schwartz
Dupees selling of corn was keeping up a
30 cents for December. This firm had VI
to Halls o'clock a. M sold between tw'
and three million bushels of corn. Be
fore 1880 September wheat touched 90
New York started the latter advance b,
showing no break when Chicago yield
ed.
u. Louis Breaks It's Record.
st. Louis, Aug. 23.-The wheat mar
ket here made new records Saturday, vi
options as well "a cash selling and clos
ing at good advance over the dolla
mark. 1t was the first time in six year
that the prevailing option on wheat sol,
above 81, and the first time in the histor,
of the exchange that sales at more thai
81 per bushel were made in three option
during the same session. In addition +
this, cash wheat sold at $l.O5.
San FranciscO's Advances.
San Francisco, Aug. 23.--The loca
wheat market opened this morning wit
an advance of 5 cents over last night
figures, and the scene in the pit was Oh
of wild excitement. December OPTIC
opened at $l.6si per GENITAL and closed a
$l67t.
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