The St. Louis Republic., 1900-08-02
WHEAT GAINS SOME,
BUT CORN SELLS OFF.
WHEAT SHOWED A GOOD UN-
DERTONE OF STRENGTH.
Corn and Oats, on the Other Hand,
Were Weaker and Quite Dull
All Through the Day.
Office Republic.

All uIbuSu tut Lay.
Office Republic.
Wednesday, Aug. l. 1890.
Notwithstanding that the ST. Louis mar
ket.s We're without the usual Chicago quo
tations. they having been cut off, az was
threatened owing to the actions of the
Chicago Board of Trade for the purpose of
knocking out the bucket shops, the market
here was not SO badly handicapped as was
expected, business proceeding as usual,
quite regular quotations being received al
most uninterruptedly by private wire
houses. which information was amply suf-
tioient to keep traders in close touch with
Chicago. There We're quite lengthy periods
when business in the pit languished and
stagnation is the only term that will con-
vey an adequate idea of the prevailing con-
dition. Yet, taken all the way through,
the general speculative market did not suf-
fer nearly SO much as had been anticipated
and a very fair volume of business was
transacted during the day. while tiuctua-
tiunS were quick and often enough to en-
able local operators to trade as usual. The
attendance in the pit was up to the aver
age and it was 10 be noticed that there
We're number of traders present who have
been in the habit of doing most of their
business with Chicago. There was firm
uEdertone to all the markets this morning,
which especially noticeable in the
higher-priced cereal. which closed at a
good sharp advance. The cheaper grains,
however. were unable 10 hold their early
strength and weakened off later though
their losses were slight.
While speculation in wheat this morning
was not specially active. account of the
shutting off ot Chicag0'S continuous quota
IiDnS a much better buSInpSS was transact
ed than had been expected and traders on
the local exchange were greatly encouraged
at the success met with in doing business
without the aforesaid quotations this
the first day that they have peen deprived
of them One thing that probably helped
them was change for the better in the at
titude of the markets of the country. There
was u much stronger undertone to the mar
ket than has been manifested for long
time and this grew more and more pro-
nounced as the day progressed. The consid-
erations We're such that sentiment was more
than ever friendly 10 the long side and
stronger and decidedly improved prices pre-
vailed throughout the day, and the final fig
ures showed u good advance. Several mat
ters combined to give this market strong
appearance, and while speculative opera
tions We're light and still remain almost en-
tirely professional, the markets tendency
was almost uniformly upwards. Prominent
among the Strengthening factors, which
were first to impress the speculative Situa-
tion, the English cable which reported
Liverpool ana Lon ION markets QuotaD!y bet
ter The change for the better abroad over
shadowed the extremely liberal receipts here
and at other winter wheat markets, the ar
rivals here amounting to l6i.gu0 bu., against
l2oOe1 bu. last week and si.0.0 bu. n year
ago, the total receipts at the four winter
wheat points being reported at $4,000 bu.,
against $4,000 bu. week ago and 3SS. 800 bu.
last year Northwestern receipts We're 236
cars, against .39 cars year ago. There was
some good buying by leading export house
here and Chicago reported that foreigners
iDrTinp
all the encouragement in the way of news
that the bears received was contained in the
regular weekly Government report, which
spoke of weil-tilled heads in Northern Min-
nesota. fair TO good crops in Southeastern
and South Dakota. but small yield in
North Dakota. It also brought some en-
couragement to the bulls. stating that owing
to rains winter wheat had been damaged in
the shock and harvesting and thrashing
had been delayed.
On the strength of the above favorable
news, the market here opened better for
the Sept. option at I2l4c, which was Lice
up. compared with yesterdays closing.
but Immediately sold off to 12asa12c, up
again to 72l5m%sc, and then declined, owing
meantime Dec. sold sc up at I5i4c, off to
.5c. and for Aug. 15sc was bid. Liverpool
made further strides upward and finally
closed I'D better for the day. Local eX
p0rters encouraged the trade with the state
ment that their bids We're nearer a working
basis. and advices from other markets in
port Ali this encouraged the trade and
served to advance prices, Sept. selling 1T
124G5sc ana 15irc was bid for Dec. No ad
vices Were received from Paris. and Berlin
WAS Ssc lower, but BuGa-Pesth a4c higher.
Clearanc.s of -four and wheat were very
small at 5000 bu. There was nothing of
special interest heard late. but the strong
cash market here and at other points had
a strong bullish effect. and some shorts were
f1tghtened enough TO cover: Sept. went
back to 727sc. but quickly rallied to and sold
UP 10 13-sNt4c. closing 3sGatc better for the
day at SC. Dec. sold late al I5'sdTGc. and
closed 2iN7sc higher at that Aug. closed 9Sc
up at 72o nominal.
There was not much to the local corn mar
ket to-day. and particularly after the open
ing hours when there was considerable
firmnesS displayed, based partly on sympa-
thy with wheat and partly on sentiment.
but this good showing did not hold long.
ish II stating that the crop was making
splendid progress and noting little Of an ad.
verse nature in conditions The Liyerpooi
There was no increase in country offerings
and the arrivals at primary markets were
reported at 555.otc bu. against $4,000 bu. a
13I 600 b1. last year. Shipments from West
ern markets We're $4,000 bu., and the clear
opening for Sept. was at 37i2c and it then
sold at 375sc. Dec. brought 1850. On IA
vorable weather conditions there was some
selling aud Sept. went down to S6a4c sellers.
This brought out much better demand.
but Sept did not go above 37isc, which was
sc off for the day, 1t which ii closed bid.
Dec. sold at 32i2c which was &c lower, and
year al S27sc. but closed &c lower, at 32l5c.
Aug. closed lkc better at Csc nominal.
The usual dull. slow and unattractive mar
ket was experienced in oats to-day, moth
ing of interest being developed during the
day. Western market receipts We're $4,000
bu.. against S21.oeo bu.. in which are included
S. coo bu. received here, against 23SO0 bu
last year. The shipments were lO6 900 bu.
and the exports 10000 bu. The market was
weak all day and there was a decline right
at the start. Sept sold at 2lc to 20;sc, and
closed at 21c bid.
Trade Gossip.
Tho corn crop made splendid progress dur