The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1897-09-01

Chicago, Ills, Aug 31.-Wheat opened
firm at an advance of from "a to L
cent per bushel for December The only
apparent reason was the strong Liver
pool market
The opening quotation from Liverpool
gave wheat futures at ed. advance and
the next cablegram at I'D. higher,
making the gain 11sd. before trading
started here
The tendency during the next two
hours was to grind a little off the
starting advance The market mill
was not running with it's recent veloc-
ityr so that the fractions came off re-
luctdntly and when the bears ceased
grinding out short wheat the reduction
that had meantime been effected was
partly established
September was only occasionally
heard from and then it was
some little discount from De-
cember-sometime "a cent and
again Is cent under. Deem
Der started at from 90i4 cents to 909s
cents, declined to S97s cents, recovered
again to 90A cents and then had a
more severe decline, getting down to
S91z cents as the bottom of the next
depression. This was due in great
part to reports from the seaboard that
foreigners were sellers thre.
While futures for wheat at Liver
pool opened higher, spot wheat was
reported Id lower Continental mar
kets were said TO have opened at some
advance and Liverpool cabled that the
Russian offerings were small The
London Mark Lane Express reported
the Russian wheat crop decidedly be-
low the average. Contract stocks in
Chicago and Gulf elevators Saturday
evening were only $4,000 bushels. Chi
cago receipts we're 81 cars, only Sc OF
which were contract and the quantity
inspected out Of store was 10000 bush
els Atlantic port clearances we're
again very heavy at 1.025.000 bushels
in wheat and -four OF which 673 GOO
bushels were in the raw grain.
Closing cablegrams reported the
final changes for the day in foreign
markets as follows: LiVerpOol-CaH-
fornia wheat on spot Id. higher; Amer
lean red and No. 1 northern spring on
spot Id lower; futures from u to I'D
higher. Paris-10 centines lower for
August and unchanged for later deltv-
cry. Antwerp-50 centimeS of Us cents
per bushel higher New York later re-
ported a better tone TO the cables re
ceived there from the United Kingdom
and some acceptance of cabled offers
after the first hour and the pit was
deserted by a large number Of the most
active scalparS who transferred their
attention TO corn. The closing price
for December was S97k cents.
Corn was firm within q rs cent range,
the principal motive for the strength
being the continued dry weather
Thomans' September report made the
prospective yield ], 95S 600, GOO bushels A
range of only Il cent was covered by
prices in cats Most of the rather lin
tied business done was in tha way OF
exchanging. elevator people buying
September and selling May, while the
general run Of bulls did the opposite.
The tendency was toward easinesS.
a fairly active trade was done in
provisions al an average slightly over
yesterdays closing, but the close was
generally at a slight reduction. Trading
was mostly in the way of changing
CuGahy is supposed to have covered
September and sold October and De-
cember. Some of the bull packers sold,
particularly outside packers.