The Princeton union., 1897-08-26
SLUMP TN WHEAT.
SEPTEMBER WHEAT TAKES A DROP
OF FOUR AND ONE-HALF CENTS,
Whent's Upward Rise Is Checked
Under the Influence of a Flood of
neaIz1ng Sales-The LIVERPOOL
market Again Sets the Pace-The-
tendency at the Close Was To-
"ards Lower Prices - Fluctua-
tiOns in Other Grain.

Chlcago, Aug. 24.-The upward rush
OF the wheat market was stopped yes
terday. The September option sold as.
hlgh as $l.O2 per bushel on the curb,
Dut proke badly OH change under a
perfect Hood of realizing sales, declin-
Ing TO 10 cents in the first five minutes
tradlng, and closing at SO cents, a de-
cine OF IL cents since Saturday.
december also suffered the closing
price, 20 81 cents, being 3 33-S cents
under Saturdays closing figures.
Trading in corn and oats was on a
mammoth scale and marked by fire.
quent fluctuations ,realizing was heavy
In both markets. Corn declined l-2
cent and oats 5-S cents. Provisions
closed unchanged to 10 cents lower. A
scent decline was chronicled in fax
seed.
1t looked at the opening of the DAVIS
business in wheat and for fifteen min
utes after as if bedlam had been ner-
manently established on the board of
trade, but the frenzy abated somewhat
at the end of that time. The Liver
pool market again set the pace for the
nrsC dash by opening excited at from
"a to I'D per GENITAL higher than it
closed Saturday. That is equal to
from cents to 1-2 cents per bushel.
Ihat caused the traders on the open-
ing curb to pay $1.O2 1-2 per busheI
Ior september wheat. Before trading
commenced on the regular board, how
ever, the curb price had dropped to
$i. When the opening bell sounded
Tor the official announcement of the
Gays proceedings there were hun
dreds offering to sell September at
from 81 down to 81 cents, while De-
cember was offered at the same time
at from 81 to 971-2 cents. Before five
minutes of the session was over both
September and December were down
TO 70 cents. In another five minutes
they had recovered again to 97l-2
cents, then to SO cents, to 81 cents.
to 96 l-2 cents, to 90 cents once more.
and very soon to 80 1-2 cents. During
that time the price Of the two deliv-
cries We're alternately in the lead, but
after half an hour of such irregularity
september settled into lead of about
IL cent. The break from 81 to 80
cents was stopped at that and the
price rose in an equally sudden and
agltated way when cables showed that
Liverpool had still further added to
the hrst advance. The rise in price
had at $3.50 p. m. Liverpool time
reached lid, OF 6 IA cents per BUSH
ell over Saturdays latest. When the
agitation here had somewhat quieted
down the fluctuations narrowed con-
siderably, and kept for a time within
il cent of 9S cents. The ordinary
market news, outside of Liverpool
fluctuations, received but scant atten-
tion. The announcement of the dis
appointingly small decrease in the visi-
bic supply caused a drop from around
" cents for September to SO IA cents,
but the foreign markets closing sur
prisingly strong, caused another ad-
vance to about 81 1-2 cents. The tend
ency, however, near the end was to-
ward lower prices in the absence Of
any strong reason for another ad-
vance. September went back to 96
cents and December to 95 3-4 cents
about fifteen minutes from the closing,
and those were the prices when the
closing bell sounded.