The San Francisco call., 1897-08-25
the Government crop report to bring
about such q pressure to SELL

the Government crop report to bring
about such a pressure to sell.
December options shared in active deal
ings with those due in September. Sep
tember options opened at decline of 1M
cents, and in the first few minutes adj
vanced to 81 04, which was a half cent
higher than Mondays closing; but from
that price the decline was practically con-
tinuous, and the closing showed net loss
OF 53 cents. December, which is now an
active option. opened l cent lower and
rallied to 81 01A, which, however, was
still an eighth OF a cent below the closing
on Monday. The net loss for this option
is the same IS September.
Bradstreets weekly statement of avail
able supplies, issued to-day. shows that
the stock of wheat east of the Rocky
Mountains has decreased 1900 bushela,
European stocks increased 500,0 900 bushels
and the worlds stock increased 423, 600
bushels. Chicago advices reported in
creased arrivals at that point.
ST. LOUIS, Mo-, Aug. 24.-The bottom
again dropped out of the market here to-
day, September wheat declining cents,
December and May 6A. For the first
time in two weeks both September and
December options opened off from the
closing price OF the preceding days. The
bulls could not maintain the market even
at the lower opening and yesterdays big
slump was duplicated to-day, the price of
wheat falling IL cents since Monday morn
ing.
AS on Monday, local traders followed
the Chicago market closely, and nearly
100, 900 bushels of wheat, mostly for Sep
tember delivery, were sold in the pit dur
ing the opening hour. Up to the call of
time the total slump amounted to 55s
cents. Nearly all the heavy exporters
were on the bear side. " hile they had
contracts pending with foreign consumers
it was to their interest to keep prices up.
Much wheat bought on the big rise has
been shipped to Europe, and contracts are
rapidly being closed. The foreign demand
is still heavy, and the exporters only hope
of getting it at profit to themselves is to
buy wheat in open market at low prices.
1t was said to-day that the high prices of
last week had paralyzed the exporting
business, as foreigners would not renew
contracts at high prices. During the last
twenty-four hours 139. .005 bushels of wheat
was brought to St. Louis. The closing
quotations were: September, 954; De-
cember, 9455s, and May, 96L.
Chicago. ILL, Aug. M-Wheat had
another slump to-day. Sep.emb Der closed
at 91Z cents after a rally to 9S. Lowest
price scored was 81, cents below yester-
days close. Decem ber was equally ram
pant. 1t closed yesterday at 9534 opened
to-day at 961z, tumbled to S924 and closed
at 90L. May wheat closed cents below
the opening. Wheat went down because
holders did not care to sell. They say
they expect it to go to 81 25 yet.
OMAHA, NEBR., Aug. 22.-LocaI mer-
chants have doubled the price OF bread as
a result of the advance in wheat. They
declare the price of bread will remain
high until wheat rec des. All the rail-
roads are practically blocked with grain
trains. Railroad men say the lines can
not move the crop, even at this rate, for
three months.
LONDON, ENG, Aug. 24-Owing to the
rise in the price of wheat and flour the
bakers of Liverpool have advanced the
price of a ur-pound loaf of bread one
penny. The price has been advanced one
half penny here.