Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1897-08-26
UP GOES WHEAT.

one time by our local traders, ana Is
now not far from that desirable figure.
There have been fluctuations the past
week. but since our report last Thurs
day there has been net gain of seven
cents. Our dealers are offering today
95 cents bushel against SO one week
ago.
Last Friday the dollar mark was
reached in New York and there was
tremendous excitement on the floor OF
the exchange, At LAO P. m. it was
given out that one dollar was the
price, and a great cheer rose from the
SPECTATORS on the floor and the visit
ors in the galleries. At Baltimore the
highest price reached was Sl.O2'.
The excitement was great in Minneap.
oils, and press report gives the fol-
lowing account of the days doings
Cash wheat today sold at dollar
here, the first time since the summer
of 1890. On the Chamber Of Com
merce there was shout of expectancy
from the pit as the price approached
a dollar. The price of cash wheat
had just passed the dollar point when
from down the hallway came the sound
of martial music. There was rush
for the door, and the crowd broke into
a cheer as up the corridor came c. A.
Pillsbury at the head Of band of
music, which was pounding out dol
lar memorial march. Mr.. Pillsbury
led his band through the doorway and
onto the floor, while hats went up and
cheers proclaimed the entire satisfao-
ton with which majority received
the news of dollar wheat. The market
whirled away, and very few attempted
to keep up with it. The advance was
steady from the opening"
On Saturday the markets were again
excited over another spirited advance.
There was an increase of 4 cents over
Fridays prices, and the top notch was
reached when $1.O6l cents bushel
was quoted in Baltimore. The local
dealers in Shepherdstown, on the
strength of kilograms from Baltimore,
were willing to give dollar bushel,
though we believe none was really sold
at that figure,
Monday the market fell off tribe,
and there was a decline of II cents a
bushel. Tuesday there was heavy
slump, and wheat dropped 5! cents.
The closing quotations were 993 for
September wheat. December sold at
95!. The decline was probably caused
by the fact that many speculative
holders unloaded large quantities Of
wheat on the market. In New York
alone the sales reached seventeen mil
lion bushels.
Yesterday the market took an up
ward turn again, and there was an
advance of three cents over Tuesday S
quotations, sending the price above
the dollar mark once more. In Balti-
more the closing price was Sl.O23 for
spot wheat. In New York yesterday
September wheat closed at $1.003 and
December at 9S3, thus showing that
the operators have faith in continued
good prices. Trading in corn was
lively, and there was an advance Of
II cents.
The heavy decline on Tuesday
caused some persons to fear the price
would tumble as rapidly as it had
risen, but the reaction yesterday is an
evidence that good prices are apt to be
maintained. The demand for foreign
shipments is Just as great as ever, and
every ship that can be secured is be-
ing chartered and hurried to our ports
to load with wheat for Europe. 1t is
reported that the Car of Russia, in
view Of the short crop in that country,
will issue ukase forbidding the ex-
portatiou of wheat. The European de-
mand is unquestionably great.
Comparatively few farmers in this
section have sold their wheat, though
some Of our largest wheat-growers sold
early at prices ranging from GO to 70
cents. Most of them are holding out
for dollar, and some think that Ar
mour's prediction of 1926 wheat is
worth holding on to. Mr.. W. N.
Lemen informed us some days ago that
he had some wheat bought at 65 cents
yet undelivered. It's mighty hard to
haul it and get 80 cents less than mar
ket price, but a bargain is a bargain,
and in our own section there has been
very little trouble, the unfortunates
taking their medicine like men.
LATER-As we so to press today at
8 o'clock telegram from Baltimore
announced another advance Of 2 cents
a bushel, making the price here 81