The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1898-07-04
WHEAT ON A BOOM
Due to Disastrous Crop Reports and
Efforts Of Shorts TO Cover.
FIRM FROM START TO FINISH
Offerings of Corn Light and Demand
Good-Oats Left Off Fraction
Higher-Provisions Lower.

Chicago July disastrous crop news.
together with ID great effort by shorts to
cover pending the double holiday, doomed
wheat today. July closed with an advance
of 3l2c and September gained 212c. Corn
shows a rise of 7sc. oats left off 1aM3sc
higher. Pork and lard lost 212c each. Ribs
declined &c.
Wheat started firm crop damage re-
ports. The latter were around on the side
; Walk before regular trading commenced
and crowded out Of sight decline with
which Liverpool started. The opening for
September was from GSAQt31sc com
pared with tS14c at the close last night
and after Il slight reaction to 6Sl2c it be-
came difficult to buy much except by bid
ding zip the price, sellers being scarce
some OF the crop reports were quite alarm
ing. in many cases reporting a total loss
The latter, 1t was claimed, was true as to
large sections of the crop in the best wheat
l1ndS OF the southwest. The market was
run ny these reports, there belnS nothing
else OF decidedly hulliSh or bearlSh char
acter in the orders Of the day. Prices con
unued TO advance until july reached arc,
d gain of 42c, and September advanced e,
selling at 703lc, There were Il good many
reactions on the way UP, and the trade at
times became rather excited. one I'M
iportant reason for strength WAS the great
desire of shorts to cover pending the three
days vacation. in connection Wth the un-
certainty of crop conditions ana the poSSl-
b!lity of 4 wild bulge in the meantime.
Speculation was nOtlceably curtIil"d by the
working of the new war law. l. makes 1t
harder for commission men to execute or
derS, ana wider fluctuations are the result.
The following resolution in regard to war
revenue provision, as 1t AppL"S to the
brokers' commission men ana ScAlpcrS, was
adopted by the board of directors of the
board of trade:
''Kesolved, That In regard to the pro-
vision of the revenue law OF 1873, appIca-
Bile to transactions at the tNch,tlEc nan OF
the board of trade Of the city OF Chicago, 1t
is the recommendation Of the board OF
directors that a uniform memorandum OF
sale be used. to be delivered by the seller
to the buyer. and that the secretary De
authorized to suggest to the members OF
the board such form Of memorandum or
sale to which the adhesive stamps accord
ing to law may be affixed.
Chicago received cars. minneapolis "iid
Duluth together 50. Atlantic port exports
of wheat and flour were equal to 69S bushels
July opened 1ac higher at 73c, rose to are
then reacted to 76i2c at the close Septehl.
Der started 1aM3sc up to 6S%tnbsl ac, SoId or
to GSas@GSlac. then rallied to "Ac aSheu'
the closing price. ,,,. 81
good demand from prominent professionals
forced the advanced. riccs were aISo
strengthcned Ly the rally in wheat july
opcncd ls11t4c higher at "l4sW3l'2c, advanced
to 3ll4c then sold off to 3-jsc, the closing
oats followed the other advances in grain
JuIy began UNCHANGED TO &c higher at H"sc
rose to pc then declined 10 2itsc DID, at the
Light deliveries and the advance, in
coarse grains STRENGTHENED PROVISIONS. july
pork opened 2l2c higher a sat-, rose 10
So 50 at the close. The range IN Iard ana
ribs was narrow.