New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-12-31
LETTERS BIG UNDERTAhIN0.
HIS DECEMBER PURCHASES NOW COMPULSORY
10 PROTECT HIS CASH WHEAT.

H1s DECEMBER PURCHASES NOW COMPULSORY
TO PROTECT HIS CASH WHEAT.
Chicago Dec s0-There was a weak wheat mar
k.t TODAY. and II would have been stu weaker II
the Letter interest had not given II stanch sup
port "Tailers." elevator people ana DINERS 5o'u
December. Letter took. possibly, $500" onsheis'
Tho price sold from Sc TO o. and closed at ~'+
II is believed that there Is practically no Decehi-
her short interest left and Letters December pur-
chases now are compulsory In order to protect
his cash wheat.
Tomorrow Is to be the last day OF the December
deal No one looks for anything sensational Inc
chances are tho day will slip out quietly. The May
price was affected by the December break II also
looked as II Armour was selling through his set
OF brokers. Barrett-Farnum were the active ones
II sold under puts. 1t was actively supported by
the Letter brokers. particularly Alen-Grier May
opened at s23 sold between SO and 9l1a and closed
at 92hgA. On the curb. in the afternoon. on war
talk It was 93A The January. most OF tho day.
q little under the May. but closed Al the
same price. - A.. ..oxo
that Letter had a big undertaking on hand. The
only bull help in the way Of news was the sn0 %o
export business from here 12 IHshs,s No
s :as Wheat &c UNDER ay
!noasS S. view y days decline The SSs,G:
esDs here 100 With us s ss%stsd for
set much smaller. Gables were Indifferent, off a
little. The Argentine news was not 80 bearish
cared ~untavorable: the wheat stock at Odessa.
1 800 0O0 against l2s00,0W last year. Tho Letter
party must have bought million wheat to-day
In supporting prices. December and May together:
on a New-York rumor that English Marine Re-
serves had been called out Lester bought tho
On the curb puts" on May wheat closed At
SIN; calls" Wk
report by cable OF the intended mobilization OF
the British Naval Reserves. as a consequence OF
| the complications in China created a war scare
in the wheat market yesterday afternoon. Tho
report was not received until after tho close OF
business on the Produce Exchange. but It's infu-
sncs was reflected IN the trading on the curb.
The chief dealings were in May wheat wheat de-
| l!verable In May. the prco OF which rushed
up to s4h cents. against e3ia cents the closing
price on the Exchange. About 81. 900 bushels were
sold the curb, and there was a disnclination
to sell even at the advance. as 1t was known that
war would mean much higher prices. In Chicago May
cents. advanced on the curb TO g3 cents. one i'm
portat point In the prospect OF possible hostlites
! over China was that 1t might save young Joe
Letter from loss In his wheat deal. He IL said 10
/ successful effort to corner December wheat, and
up TO now the probability of having 10 carry II
over TO May. when Il could BIO delivered at the
for him. With a high price he could send for.
ward his wheat by rail-! which Is far more expen-
| sive than water transportation. The speculation In
December wheat Is practically over as to-day is
price for December wheat on the New-York Produce
Exchange was 81 decline OF cent from
| Wednesday.