The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-08-18
POOR SHOWING FOR
GRAIN BULLS At CLOSE.
AFTER BULGING SHARPLY
GRAIN SELLS OFF LARGELY.
Week of Excitement With Heavy
Buying and Selling-CrOp Con-
ditiOns and Clearances.

leading markets of the country was q rec
or~d-breaker in more ways than one. But
when the results OF the wild hurrah and
bullish conditions are taken into considera-
ton. the outcome. as shown by closing
prices, was not what the condition fore
Swallowed or bulls had figured upon. the
gains in price of the different cereals being
really Insignificant. especially when com
pared with those recorded the opening day
There was action enough to suit all classes
of traders, violent fluctuations, heavy deal
ings and wild excitement being the princi-
pal features OF the two speculative grain
markets. AL grains were affected alike.
and the week was one of the nveiiest ana
most interesting Of any that has been ex-
Ierienced. The bull fever ragged at times in
the most violent way. and runaway condi-
tons prevailed in both wheat and corn.
This was especially true early in the week
when the conditions were such as to bring
about big gains in market values and create
a buying craze that was very heavy. Liter
there was a let-up. the hurrah conditions
gradually disappeared. buliish enthusiasm
abated and liquidation took the place OF
buying. with The result that the upwas1
movement Of prices was checked and prices
gradually declined. the close OF the week
nnding the big advances considerably cul
down. though prices were stu a little Del
ter than those Of last Saturday.
There were fluctuations enough In wheat
during the week TO suit traders on p9tn
sides of the market. and a wildly excited
and active market as well, each DAY De
veloping something Of interest in the STU,
alton. with the result that both ouLs ano
bears had a run for their money: TraoerS
were on edge throughout the week, and the
dealings were on an enormous scale. the
outside as well as the professional interest,"
being largely represented In the pit on
change. There was but one side to the
market early In the week, the Government
report on crop conditions developing a de,
st.. g. h.av anl rrAasfnr tho widest hill
enthusiasm. setting the market afire. ana
an advance Of &c was registered the open
ing day. Later there was a slowing down
of the speculative engine and a more set
tied feeling took the place OF the wild
excitement that prevailed early. and, while
bull sentiment sun prevailed. and traders
destined to sell much higher in the near
future. the wild runaway advance in price
was checked and reverses took place. owing
while a little better than last week. being
sharply off from the best prices made
early. There were breaks and bulges all
through the week. the first on selling, oc-
casioned by n desire to take profits. when
prices justified. while the reactions were
on buying on the belief in higher prices
of a bullish character. of which there was
an abundance.
Next to the Governments report. the
great strength in corn was a bull factor; as
was also the reputed shortage in the Rus
sian and French crop. It being estimated
that in the case OF the latter country ITS
requirements wOulQ amount 10 tt.'V.UV Du-
There were reports from the Northwest OK
disappointing thrashing. largely higher ca
bles were received from abroad. and last,
but not least. the clearances for the week
were Of record breaking proportions. they
amounting to SO4a0co bu.. exceeding those
or the week befO.s by los COO bu.. and were
nearly thee times as large as thSse 0,a
both good and bad. but In q great meas
ure they were lost sight of and they had
but slight effect upon values. the principal
ipdrroncaG hoiuD Crpp conditions nj home
and abroad and the heavy out movement OF
wheat and -four from this country. Laaui-
dation was Iesnmed Mhen tne i main.
up market. n number OF traders desiring TO
close up their trades over Sunday. There
in the rews received and aside from the
selling the market was without special fea-
ture. The losses yesterday were from itG
Lc better for the week at 707sc sellers, while
Dec. was but &C higher at sc. and May
was quoted at ISixc.
Corn was the stellar attraction in the pit
on change during the week, and one of the
chief causes for the wild excitement and
grains. thereby attracting the attention of
the speculative world. The dealings were on
an enormous scale. the feeling rampantly
bullish, and the advances in prices heavy.
higher prices going on record than have
ever been experienced in this country
since the Civil War The bullish feeling
ran very nlRN, tut ODtnluB utN Oh the WIN
especially, when there was an advance of
&c per blu. in the local market. The Gov
ernment report showing a condition that
was the lowest ever made, was the chief
cause. II creating such a desire to buy that
prices mounted skyward. All the markets
OF the country. as well as those abroad,
felt the effect. and ruled excited and higher.
and the rapidly advancing prices were only
checked by the heavy liquidation INDUCED
in by those who took advantage Of the adj
vances to reap profits. This liquidation was
carried on ali through the week. and was
particularly heavy late, with the result
that prices were scaled down very mate
rally and the markets of the country
closed considerably on from the top.
though higher than the week before. the
belief being general that much higher
Crop ard weather conditions were the
principal influences all Of the week and
were Of a character to bull the market.
Rnii help came from various sources
SHOWS estimate of a yield of only l.10.-
So, 90 bu.. as well as the estimate OF the
Goyernment of 1.2se 1000 900 to 1.3sS. 00.0oo blu.
being the chief. The great strength in
on outside and professional account also
had its effect. European markets were nat
nrsuy influenced, and higher cables in
creased bullish sentiment and advanced
nrices on this side. Receipts were small
during the week. as were shipments and
ciearances, the latter showing a big falling
of. Late In the week there were reports OF
ton ouieted down considerably and the
huyin9 support was to a great extent with
drawn. There was q gradual easing on IN
nrices from those recorded early. and the
feather becoming more favorable they
saeged down almost uninterruptedly. yes