New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-12-21
WHEAT MARKET STRONG.
Nh. LETTER PROUD OF HIS SON
HE ARRIVES N CHICAGO, AND IS PLEASED THAT
THE YOUNG MAN HAS DEVELOPED
so RAPIDLY.

Chicago. Dec 2O-Intsre.t In the big December
wheat deel was greatly increased to-day by the
arrival from Washington Of Levi H. Letter. the
millionaire ex-merChant OF Chicago, and the SUD-
stantial admission by him that his millions were
a, his sons command in the struggle with other
interests
My son has plenty Of money TO pay lot ""''
he has purchased" said Mr.. Letter. senior. Aoou'
his wheat operations he has Informed me iui!
j have been merchant a great part OF MY 'io,
and am much pleased that my son mas proaucHeu
out into a frst-class merchant wheat IL Hrs'
class commodity of universal use. Inc quah'E oi
wheat which he has purchased is OF 'he hlsH's"
and I am sure will be in demand at hisher
price than ne has paid for It, am wei please"
with the situa tion
George y prench o. the Letter clique, stated to-
dav that the bull combination will have about six
-nllion bushels Of wheat to take care Of Ihe tac-
,jcs Of Armour In rushing millions OF bushes 10
,be Chicago market. he said. have caused the
Letter following to change some of their plans
very materially.
...rhs !Inprcssio that wo ale going out OF the
market As soon as We conclude this months trading
is hardly tr4e," ne continued. We propose 10 re-
main in the field l am not prepared to say that
we will ship all our wheat abroad. but We VIII sell
it the best can.
There vas another big increase in the amount
~ contract wheat in store here to-day. over 10000
bushels being added TO the stocks. Friday and
saturday nearly z.5000o0 bushels were delivered
here al Of which taken by the Letter people.
At least 10000 bushels more are expected 20 ar
rive and in the liquidation OF this is expected to
come the final ties; Of strength for Letter The
10, 100 bushels delivered to-day had not the slight
est weakening effect on December. The statement OF
Mr. French concerning the Letter CROWDS inten-
lion TO stay in the market received some confrma-
ZION as there was good buying of May all day,
credited 10 them.
THE BULLS HAD THE BEST OF TT.
The wheat bulls were on top to-day. the May ad-
vancng l5s cents and closing cent over calls.
May sold at s2t cents and at sis cents. and closed
al s4Is cents The best advance WAS ia the May
future January was up cent. closing at So'2
cents: July. up r cent, closing at 81 cents. Inc
December rather neglected There was
rush Of wheat IN here, and the elevator Interests
had a good deal OF December for sale. The shorts
took g. December sold 81 % and al SO cents. and
closed at S. The Letter party seemed 10 leave the
December alone. They bought a lot OF May. Bat
there was a marked broadening out OF the genera!
SPECULATION. II looked as If the trade was quad
rliped Shorts in alarm. There was ruinor
rs: the Letter interests were negotiating for a
freight contract to- the shipment OF 10000 bushels
OF their wheat. This could not be confirmed. but
.he mere rumor enough 10 disturb the man
with wheat short Cor May or January. cables
were STEADY, Liverpool Up moderately. Paris on
shade. Clearances were very large. 1890 bushels
The worlds whea: shipments, $4,000 busheis
were 90 bushels under the week previous. and
this worlds movement finally showed UP under
the Theoretical. requirement Receipts were largo
everywhere this not unexpected. There were
SIS ca-s he,e with 800 estimated for Tuesday.
The local stock showed al Increase for the week
Of 45 so bushels II figured that the contract
stock had been increased here since Saturday by
col less chan 10000 bushels. Receipts were large
in the Northwest, 9so cars against 5tS last year at
primary points there 1G56oOo bushels. against
5000 bushels There was small decrease on
hue
creased t4S %, bushels The incT.ass the visible
Eup3Iy. 81 GU bushels. vas just about as antlcl-
patei. Outside markets were UP about as much as
;h.s one The pit feature the broadening ou;
-: the trade under the leadership OF May buying
ay ;he Leitr party
on the curb puts May wheat closed at s3'.;
"csils." s5s.