The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-08-17
WHEAT SHORTS COVERED.
Weather Scared Them and They
Made Market Very Erratic.
CLOSED AT a NADyASCE OF A HALF.
September Clique Wns Noticeable by
Their Absence-smsiI sales Had
Large Enect-Corn Advanced.

Chicago, III. August is.--There was a
scare in September wheat today. shorts
jumping the market to point * above
saturdays close and rendering 1t erraiic
all day. The close was at " advance.
Bad crop reports from the Northwest con-
,inued feature. Other rarkets partlci-
pated Ia the wheat strength to y or
less degree. corn and cats advancing about
X each. while provisions closed 5Gi2s
higher.
In wheat the market opened with an
amount Of strength and activity that ut
first was difficult 10 End reaEon for.
Threatened frcxis IN the Northwest did
not rnatsrialize. though the danger line
was reached In several localities, aud no.
thing could be learned definitely coniirma
tory a Saturdays rrnor concerning the
reduction OF French duty, which was so
influential 10 that days market. Neyer-
iheiess, there Was an almost unanimous
rush Of shorts to cover as soDn as the
market opened.
The starting price for September was
from 50 TO S5H compared with 81 1T the
close Of the eeKsion saturday. II touched
ctfs LOT an it%lAut Aii1 NHE4 htAIbO Va
an excited whirl which first carried il up
to seq, from that down again TO s4A,
and once more as high as sos. and all
that within an hour after the opening.
The rush for cayer revived the talk OF
a September squeeze. The noticeable fea-
turo @as the absence OF tho September
bun crowd from the pit. the market re-
ceiving but little help from that quarter.
Crop reports from the Northwest were
.lg ffrfsqrrrlv bAH nd .Hfa Gar isa-
came one o. the important factors la stfs-
talning she market later in the dsy-
Chicago recsived $50 cars Of wheat aud
the quantity Withdrawal from store WIS
Isl 600 bushels Minneapolis and Duluth
reported receipts OF S45 cars compared
with 90 cars year ago. Tho worlds
shipments 10 Europe last week we're 1900.
COO bushels ccmpared with 5.035 GOO bushels
on the corresponding week tho year before
After the first hour the market kept
jumping about 10 a nervous manner on a
ratheT small niBol!st CT husineas. An or
der 10 buy or sell 90 600 buEhels would In
iis execution move the market up or down
:. per buEhfl- The price Of September
b9bbgd W and down number o. times
between s5& and Sc, With the tendency in
She hast hour toward the lowest quotations.
s54 being asked at the close.
Trade ia earn Mas htsyy enough 20 keep
brokers fairly busy. The tpne OF the mar.
kct was firm, although elevator people wer,
free sellers. both Of Septemb-r and De-
cemher The low temperature in the
Northwest started prices up x. There was
a reaction on predictions OF warmer wealth
81 aud an increase Of l,279.000 bushels In
local stocks.
Receipts li72 ears.
Oats were more active IN a general way
the buying being by cQmmission houses
with outside trade. Prices rulsst fraction
ally higher with wheat and corn there be-
Ing no Independent features OF noe. Local
stocks incrsatsed $4,000 bushels. Receipts
sos.
The amount OF business in the provision
di was not heavy except during the first
half session of the session AT the closa
! September pork was l2la higher. Septem-
Der lard ~ higher ard September ribs
5Ge1is higher.
Estimated receipts Tuesday, Wheat, 45O
cars, corn 800 cars: oats, s35 cars: hoes
| lg,o0O head
me leading futures ranged as follows.