New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-02-20
THE WHEAT MARKET BOILlNt.
LETTERS CASH SALES DRIVE UP THE MAJ
AND July DELIVERIES.


Cbioayo Feb 10 fSpeciaO There have been "a
citing days at frequent intervals WITHIN INC w.
months during which the Letter wheat deai ~
heen under way in this market; but to-oaI'
fluctuations passed all the other experiences Wv
Nav and July at time showing an aavs"0'
OF SD cents and all within less thah an ~ ~,
The close showed about half OF It ma'h's,n,s
May opened at 81 0SN sold between 81 o5'e ana sV
and closed at S06 The excitement was Jus' .,
intense in the July. with the July trade so,"
deal larger and the huctuatiors Just as WHO 'u:
onened AZ $50, cents sold between So. ana nv
cents and closed Mt s2is cents a,
Internationally to-day's experiences were o'oue"
about largely by the statement by Letter IN ."
interview that the 100000 bushels OF wheat w.
are going abroad had been already marAe'V.
There were many ncredulous OF the s'a'e".".
but they could not control their nerves io' M ~
Many others believe It has been the fac' -.
through this Letter campaign that the sta'e"."
made by its engineer have sooner or later w.
verified The ordinary routine market news w
day received no consideration 1t was "'''''
Of shorts entirely. i,
1t is said the excitement was started oy q" -.
tempt TO protect large line OF weekly 80.
sold for July II developed almost INSTANT! 49,,
there was practically wheat for sale ana 49,
"a soon MS the Letter brokers saw the shofls W
ing TO cover July and May they added 10 'ne :,
element by bidding. The advance was maui -,
extraordinary fashion the quotations mo'hs
one-half cent between trades Al night IL was
opinion that the Letter party had parted W.
good deal Of May wheat on weekly CANS IN,
haps 100000 bushels. II had sold calls Hne,a~
during the week from 81 % up TO s. %, ana %Ss
closed al los. which was over all tho "e>"'
cali prices =, "a,
Clearances for the day were Esop business rr
the week about 4oooooo bushels. NorthN 80
rec.ipts were again under last year So las Il
against 30l. Liverpool was up i.u'' f"'"
10 - cent,mes lower. . 90, a rate
II Is said Letter to-day Is Tying ~ rIluth VIA
TO move East the wheat he owns az ,psssIs
the Canadian Pacihc-almost l""eV ,.iossd &,
on the curb puts" on May wheat IS Ni,
81 O2L calls" 81 ur. puts on Jul! W."
cents, calls eSis cents.
"The Journal to-day says: ,,. circles
1T is pretty well establlshen IN, ~, iast ten days
about the Board OF Trade that IN me Las chicago
there has been turned into cash IN "a w. Joseph
banks on la Safest. about *'V"'" ~
Letters account -. 81. s.,s a, a large
amount OF wheat Within forty-eisht nv On four
million bushels TO the leading Ensnsn py deposits
yored people who had the zip on the nsst possible
with the banks were getting all INC "
on soft spots yesterday
There was a sharp rise In wheat yos'o's -,.s M
New-york Produce Exchange. foiio"ihs VI" w.y)
-,,c,eo Nav whea; (wheat dehveraoe /" ~ the
on.ra5 AZ &, COS, and closed at 81 o21s nrcs on
c,rh 4, soid AZ 81 O4Ts The ofhcia ciose s5s cents
Friday was 81 O0A. July wheat opss ciosing was "a
anS |lossd az e5is cents. The curp ciVssssSsv a
CENTS asainst The ofiic!al close on s"N~
osntA