New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-03-13
SAY FRANCISCO MINING sTocrS
TIE TRADE ~ CHICAGO.

Chicago. Marrh u (SpeciaD The inc den, ~.
in the wheat market occurred ius' bs,or. n.
close Letter. through his principal troksrs,
concern Allen-Grier. applied 20 the dr.c,o,
for n marginal price on May whei, He ,o,s
this step 70 forestall the same sort % .cs,o,
from unfriendly interests In The letter 70 u.
Board of Directors he ss'd:
ITO the Board % Directors OF the Chicago Boar.
OF Trade
Gentlemen: owing 20 ,he feeling % uneas,re,,
prevailing AZ present among members o. n,
Board concerning conditions and price q. Nav
wheat We respectfully request. IN order 70 alsy
all apprehension. that marginal price h I've.
a, once
The Board Of Trade directors WIFI now al,
some testimony az 70 the value = whss, for ship
ping purposes and viii then Ak marginal pr'c.
This action will give the sellers - vhe. No
right 10 call margins from the buyers = 10 %,
cent wheat under the marginal price Urtr o..
binary conditions the seller can only call ~ %,
cent under the market price. The rule simply
Affects the rights Of the selier The buyer caa
always call IL per cent over the market. What.
ever II is This action by Letter helped togari
the rally IN the last few minutes. ard made
very strong feeling IN The afternoon. the pric,
advancing almost cent on The afternoon curb
II was on the whole a weak day wheat being
Influenced most by the Washington rumors. ~
the Wall Street generalization and ty The bank
statement There was a steady start because
Liverpool was frmer than expected The declins
began almost Immediately July opened at ssi,
cents. sold between So. and S'ias cent, anl
closed regularly at s7iSQS7i, cents. Letter,
H. all lrrr SOL
at 81 O4ig and AT 81 o3ia (when Letter brokers
happened 20 be out 81 the plu. and closed a.
&, on. The ordinary news was entirely over.
Swallowed by the war fears and hy the Wal
Street decline Liy erpool was Unexpectedly
steady. 80 was Paris Neither sympathized ~
any degree with the American weakness q Fri
day. The Western news was bearsh' and there
were large receipts In the Northwest $40 cas
against 1903 last year. Here there were lol cars
against 10 The addition 10 the contract socf
uas 65 600 bushels making 10000 bushels "a
eva dovs There was a good deal Of lquidanon-'
n 10, OF stop-loss selling. ST. Louis LED "a
the short selling. Kaufman being consplca'sA
Corn was influenced by the wheat decline. ana
bv the Washington and Wall street news Pnoss
,ost /. cent but recovered most OF nat may
sold from 30i. Q30as TO 30 cents. and closed "
3oiS 1901. cents. The selling vas IN me way
the most prominent BENG ny one I"
the large long interests. Receipts we're n'os'
crate. PSI cars. with 800 estimated Tor MOE
dav. Liverpool was Is cent lower. seaooaa
clearances we're 10000 bushels. Ne"-ioFk re-
nor,ed twenty loads for export hair OK WHICH
was done from here.
oats were exceedingly weak. but II was q na'
ter ., sympathy. May sold from 2G'. 20 20 cent"
n nd closed at 263s a 26ia cents. il looked As
,here was some selling for the Letter interests
Receipts were liberal 2@9 cars. Win 80 es"'
mated for Monday. seaboard clearances "e''
10000 bushels
There was the same situation In provisions a.