The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1897-08-23
ANOTHER BIG RISE
September Wheat Touches the
Dollar Mark on the Chi
cago Board,
Scoring an Advance of Over Six
Cents a Bushel for
the Day.
Corn Also Shared in the Excite
ment on Large Foreign
Orders.

CHICAGO, Aug. 23.-Everything
pointed to dollar wheat in Chicago at
the opening Oh change, curb prices ap.
parently indicating that that mark
would be reached perhaps before the
day was ended.
The opening was very excited with
bids for September ranging all the way
from 81 to 08 cents, while December
was quoted at 81 to 9711s cents, trading
being about equally divided between
the two options. The volume OF bust
ness was phenomenally small in view of
the remarkable jump in prices, holders
of wheat as a rule being unwilling to
sell on the advancing market. A grow.
ing interest in the coarser grain mar.
kets was also manifested, the volume
of speculative business in corn and oats
equalling at times that Of wheat.
The opening price for wheat ON the
regular board was 50 cents for Septem.
Der, Jump of cents buslel. Sales
were made all the way between oS cents
and 81 cents for September in the first
few moments. Ten minutes after the
opening wheat was selling at 9714 cents,
September, and 0S cents December, and
did not vary much from these figures
for some time.
The widest excitement prevailed in
the coarse grain. Corn was up nearly
cents bushel, oats up 2 cents. 1t was
sympathetic with wheat, but there is q
great short interest in each. Both pits
were jammed.
Linn was heavy seller Of September
wheat, letting 60 about 1000, 900 bush
els in the morning trade at about 07L
cents.
December Kept the Pace.
Wheat for December gradually kept
up nearer the September option, reach.
ing 9631 cents, while September re-
maincd nearly stationary around Y7A
cents. The Linn selling Of wheat was
regarded by many as significant, be-
cause he has, it is said, had the largest
local line on the big advance in prices,
ami was about the only local trader to
make great profit. 1t was also noted
that Baker was selling. Just before II
a. III. wheat began to suddenly advance
again and the price jumped to new
high point, overtopping anything yet
reached on the regular board, 0Sla
cents for September and 97:$i cents for
December.
The receipts of wheat at Minneapolis
and Duluth for the past week were re.
ported at l, ,4O5 cars, against l,6l4 the
previous week and 2, ,297 the correspond
ing week Of last year. This news was
not minute old here when the tiptop
mark of even curb trading was passed,
and the record was 9S34 cents for Sep.
tember and 9838 cents for December.
At this moment, New York was up to
Sl.O5. Meanwhile the Schwartz-Dupee
selling Of corn was keeping up at 33
cents for December. This firm has, up
to 11:15 q. M, sold between two and
three million bushels of corn. Before
1880 September wheat touched 80
Bartlett Fraser reported that they
had buying orders on corn from about
every foreign market. Closing cont.
mental cables reported Paris wheat up a
franc, equaling ga cents advance per
bushel, contrasting sharply with previ.
Gus relative weakness in French mar.
kets.
Dollar Wheat at Chicago.
The advance ON the Chicago board
continued as the close of trading ap.
preached. At 11:45 q. M. the price had
reached 98h cents September, and 80
cents December. In less than five min.
utes later the dollar mark was reached
aud Schwartz Dupee paid 100 cents for
q lot Of September wheat. When this
red letter record had been made there
was . temporary reaction to 991k cents.
but q moment before the close the. price