The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1897-08-24
CHICAGO MARKETS.
The Hoard of Trade.

CHICAGO. Aug. 25.-speculative mar
kets on the board Of trade today sue
cumbed 10 profit taking sales and regis
tered the first declines OF moment IN a
fortnight. The liquidation. which began
on Saturday. continued on an enormous
scale AT the opening. During the tirst
fifteen minutes OF the session fluctuations
were the most violent in many years.
covering. as they did, a range OF cents.
The bears, VINO have been in liberation
for some time, took fresh courage and
pounded the market on every bulge, only
letting up after establishing A net decline
OF 3l9e for the day in September wheat,
TENDER cats. Sales of September wheat
were made on the curb iris morning at
the highest price yet reached I-9zae.
rush 10 sell with trades made on a range
OK &c. September going al from SIC 70 81.
Every one in the pit seemed 10 have but
one end IN view, and that was 10 let go.
September tumbled with a rush 10 Sc,
December touching 942&c A few buying
orders were then distributed where they
would do the most good. and what looked
into a rush for cover. September sold up
without q reaction OF more than nc To
seize. Another drop took place, but In a
slow, deliberate way. The visible supply
was very much OF disappointment 70
the bulls, showing less than half the de-
creaSes they had confidently figured upon.
Short sales were thought 10 be q COOL
speculation, when the sellers obtained
within few cents OF a dollar, and the
bears opened their spouts with a viii.
only ceasing operations when the price
OF September again reacted az Sc.
The routine news OF the aay was prac-
tically disregarded. Foreign crop DAMAGE
and news Of sensational advances In En-
gIlsh and European markets only had n
tendency TO invigorate traders with bear
ish tendencies seemingly The bull pool.
whose operations have helped the late
advance In grain; were rather neon
tons were lost sight OF entirely during
the morning. Later Il was the general
belief that the pool let go OF much OF their
late purchases. more especially corn
The market for corn was extremely ex-
cited. Every one with a profit seemed
possessed only OF a desire 10 unload while
there was still A profit IN sight and many
OF the paper fortunes melted away. Fa-
vorahls weather and increasing receipts
everywhere discouraged holders. Sales
were made az the opening on q range Of
a full cent. something not often seen in
the corn Dit. English markets were re-
ported excited az gooGly advances. Sep
tember opened i3Tltkc higher. sales being
made az S1G35c bat when the trade saw
the Chicago receipts posted AZ nearly
2 coo cars cries OF starvation. etc, were
quickly turned into orders 70 sell Tho
market sold of steadily 20 the close, but
owing 10 the early advance showed only
nc loss for the day.
The market for oats syrnpathizsa with
corn and wheat. liquidation ny prominent
interests helped by a Eood-sized increase
in the visible supply. induced an easier
tone although outside trade was fair ana
principally o. the buying s1de- Ihe De
sale higher Il declined steadily TO the
close establishing net loss OF ic.
Provisions were higher early IN the
session on the strong hog market and
nader the sustaining influence Of good
foreign buving orders. bur there were too
many local traders ready 20 sell Out fer
the market 30 maintain its opening ad-
vance. Packers generally were free sell
erz