The record-union., 1898-01-01

no time did we have any idea that we
would not get all the wheat we bought
for December Those who sold their
wheat short in the 7Os and Sos prefer
red TO buy the stuff from the farmer
and in the other markets and bring 1t
here. The additional loss has been of
no moment to them, 1t being entirely a
matter of prestige and credit. Chicago
now has millions of bushels Of wheat in
its elevators and of grade that will
pass in any market of the world and
the credit and reputation of our mar
ket is SO much enhanced thereby.
"All Of the wheat we have taken out
of elevators SO far is first-class stuff
We have had some trouble, but have
succeeded in maintaining our rights.
We feel very well satisfied with our po-
sition. If we have erred in the prem
ises, there will be, of course, a penalty
in the conclusion. AS to our policy in
disposing of the wheat, 1 do not care
to talk, that being strictly our own
business. AS far as the hammering
in the market is concerned, that is
again a matter of prestige with the
elevator concerns. We have bought all
the December offered, but made no at
tCAllpl " SdS lctIIl pii iCC'S. " ICI iilNl-
chant buys a commodity he generally
follows the dictates of common sense
and buys as cheaply as possible. We
are not interested in prestige or popu-
lar applause, and 1 think we need no
credit at the present time"
May wheat was quite firm at the
opening, starting 1ac higher. The fea-
ture of the early firmness was the sur
.A,v
which showed 1ad advance Some Of
the strength, too, was carried over from
yesterdays war scare. After a little
show of activity around the opening
the market began to feel the effect of
the holiday spirit, and became exceed
ingly dull
1t is calculated that the entire
amount of contract grade wheat is now
100000 bushels. There were no ship
ments of wheat from Argentine this
week. Beerbohm estimated that in
consequence of having imported earlier
in the season in excess of immediate
consumptive requirements, the weekly
needs of foreign wheat and flour in
Europe for the remainder of the sea-
son would be 6,960000 bushels, and
calculated that the available surplus in
exporting countries to the end of the
crop year would not come within L.
10000 bushels a week of supplying the
requirements.
The exports from the Atlantic ports
were again surprisingly liberal, equal
to 5S1 900 bushels. The market be-
came stronger on this, May advancing
to 93Hc. About l O'Clock the price was
down to 921s@92114c, on liberal offerings.
Then strength again developed, and
in the last few minutes trading the
price advanced to 923sc, where it closed.
Nothing of a sensational character
developed in the December deal. Allen
Grier were buyers of December and
sellers of May at &c discount for the
latter when anyone could be found will
ing TO make the change. The price of
December held between 941ac and 95c
all forenoon. 1t closed the day before
at a4Ac. During the afternoon De-
cer-1er sold as high as 95c and closed
at 95c.
BOSTON WOOL MARKET
BOSTON, Dec 81. The Boston
Commercial Bulletin" will say to-
morrow of the wool market:
Never has a year closed so brisk a
bushes as 1897. The sales of the last
week are very largely of territorial
woods, on a secured basis of 4S@5Oc
for the clean The buyers are the big
worsted mills, and they have paid full
rates. One house in two weeks has
sold over 100000 pounds of territory
wool.
The sales of the week are Z 7264, 900
pounds of domestic and 2397 900
pounds of foreign, against 1902, 900
pounds of domestic and 1892, 900
pounds of foreign last week, and l.
292, 500 pounds of domestic and S74,-
600 pounds of foreign for the same
market last year. The sales to date
show an increase Of 100, 0,211 400 pounds
Of domestic and 13O 229, 700 pounds Of
foreign from the sales to the same
date of 1896.
The receipts to date show an increase
of 40, ,401 bales of domestic and 3O3 -