The herald., 1897-08-24
CHICAGO MARKETS
Yesterdays Transactions on the Board
of Trade


CHICAGO, Aug. 23-It looked at the
opening of the days business in wheat and
for fifteen minutes after as if Bedlam had
been permanently established on the board
Of trade, but the frenzy abated somewhat
at the end of that time. The Liverpool mar
ket again set the pace for the first dash by
opening excited at from 4d to 41ad per
GENITAL higher than 1t closed Saturday
equal to from sc TO Size ier bushel. That
caused the traders on the board to pay
l.O21a per bushel for September wheat. Be-
fore trading commenced on the regular
board, however, the curb price had dropped
to 100. When the opening bell sounded for
the ohc1al commencement of the days
proceedings there were hundreds Offering
20 sell September from 100 down to 81
while December was offered at the same
'ime from LOO to 97ls. Five minutes from
the opening of the session September was
down to 80. In another five minutes 1t had
scored gain to 9112. then to 9S to 81 to 9e1a
9S once more and very soon to 9912 Dur
ing that time the price of the two deliveries
September and ember-were alter
nately in the lead. but after half an hour
Of such irreguarity September settled into
a lead of about half cent. The break
from around LEO to Csc was stopped at that
ana the price rose in an equally and agi-
ated way when cables showed that Liver
vance. The rise in price had at $3.50 D. m
Liverpool time. reached 5Ad, or 6Ac per
bushel over Saturdays latest. When the
agitation here had somewhat quieted down
the fluctuations narrowed considelt bly,
and kept within half a cent of 9S The ord-
nary market nsws outside of the Liverpool
fluctuations received but scant attention.
The worlds shipments aggre gated 1912 900
bushels last week. compared with 7,0S1, ,00t
nI1c hp1 ha oon
bushels the corresponding week of 1896
The quantity on ocean passage increased
200 900 bushels The visible supply showed
a decrease of 497 900 bushels, or about half
as much as looked for. Chicago stocks were
reduced 35S, 600 bushels. and there are only
1866 600 bushels of all kinds here now. The
most notable item in the movement of
wheat at primary western markets was
receipts of ISL 800 bushels at Kansas City
today. The announcement of the dis
appointingly small decrease in the visible
supply caused a drop from around 9S for
september to 96A. but the foreign markets
closing surprisingly strong caused another
advance to about 971s. The tendency, how
sver, near the end was toward lower prices
in the absence of any strong reason for
another advance. September was back to
96 and December to 95s4 about fifteen min
utes from the close. and those were the
prices when the closing bell sounded.
Every big trader with corn showing profit
in it appeared to be willing to sell out to-
day. The market opened so very strong
that it was easy at first to find buyers for
the offerings. The influential features at
the opening were 334d advance at Liver
pool and crop reports of an unfavorable
nature. The tremendous quantities that
were poured into the pit all forenoon told
in the end and toward the close the market
became very weak. The start was wild.
September brought from 332 to 80 stimuli
taneously and December from S4 to 351a
compared with Saturdays closing prices
of 311a and 33ss. The market soon broke
badly with wheat and though recovering
later, became weak again, the lowest prices
of the day prevailing as the market was
closing. There was import liquidation in
oats as in all the other pits. Prices opened
with a rush, September starting Il higher
at 20 and advancing Immediately to 20A
while December opened Ad1 higher at 226
22A. There was good outside buying all
day, but not enough to counteract the
effect of the heavy liquidations on long
holdings by elevator people. which were
chiefly responsible for the drop which en-
sued shortly after the opening. The SELL
ing was, of course. influenced greatly by
the action of wheat. September declined
to 10 and closed at 1915. December dropped
off to 20A and closed at the price bid. Pro
visions were higher early in the session on
the strong hog market and under the sus-
tanning influence of good foreign buying
orders but there were too many local
traders ready to sell out for the market
to maintain it's opening advance. Packers
generally were free sellers.
The leading futures closed as follows
Wheat. No p