The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-07-23

REPUBLIC SPECIAL.
New York, July 22-Corn sold at higher
price to-day than II has reached in the
month of July since 1891. The question of
80 cents a bushel. which had been predicted
for 1t, was distanced In this market. where
1t rose to 62is cents. a gain Of cents over
Sunday.
In Chicago, where the movements in corn
really begin. there was more excitement
than has been witnessed throughout the
current bull grain market. September corn
made a maximum advance of cents.
There. also. wheat rose cents a bushel'
climbing a cent in couple of minutes
when the bulge started.
Altogether. 1t was one OF the most in
terestins days In the vicinity of wheat and
corn trading pits In all the cities of the
country where grain exist that brokers
have known in recent times.
THE EXCITEMENT WAS
INTENSE FROM OPENING.
With temperatures in the corn belt from
100 to loo in many places, and practically
no rain over Sunday. the excitement In the
corn market exceeded anything that took
place there las; week or the week before.
ANVIL bihCc lHt CCEH LdlluE6 VI lo5t udSc
prices scared as they did at the opening
this morning. and even during that year
the volume of speculation in corn was light
as compared with the enormous buying re-
ported from all parts Of the country.
Private kilograms from every section Of
the corn belt showed no relief. and what
was of more Importance still the we? Their
| authorities held out no hope of any change
In the immediate future. 1t was still dry
and hot. dryer and hotter than before in
the record-breaking month of July. and at
tho same time doing more damage to crops.
which have withstood the trying conditions
SO long.
Reports received before the opening Of the
| market stated that corn had burned badly
in many sections Of Kansas, Nebraska and
Missouri. with Iowa beginning to need rain
and the corn crop there deteriorating
somewhat. With the drought extending In
TO the great corn States of Iowa and I'LL.
nois the trade felt the situation more acute.
| ly than heretofore. and the excitement at
tending the opening Of the market was in
| tense.
OPERATORS WATCHING FOR
THE CHICAGO QUOTATIONS.
| The mass of brokers stood around the pit
watching the great dial on which the record
of the Chicago opening could be read and
wondering whether the market would bt
1, 2. Q or cents higher than the sensation
ally high prices Of Saturday.
At the closing Saturday thousands q
bushels Of corn had been sold for fear O
rain over Sunday. and many had gon'
short for possible break In prices.
few years ago corn sold at 10 cents bushe
and 81 cents. Saturdays closing price II
Chicago. seemed very high.
Shortly after the gong sounded the hand
on the dial started from 90. moved through
56. 81 and IS. and finally touched 50 cents
The opening price. as quoted from Chicago
showed opening prices to have been fron
Ct to 81 cents. an advance OF 2 to 4 cents
bushel from last week. and an extreme ad
vance of l6 cents bushel above the leve
prevailing a month or six weeks ago. Her
September corn sold UP to 617s cents. Tn
volume Of trading was enormous and tn
excitement great. Stock brokers across til
dividing wall that runs through the cente
of the big floor OF the Produce Exchang
could see tho dial. and the roar of the open
ing did not fail TO reach the stock market.
The situation Is such as to make opera
tors sympathetic for the farmers Of tn
West and the cattle dealers Of the South
west. who have had to ship thousands o
head of cattle. and the formerly brlsh
prospects for the year have been blighted.
WHEAT ADVANCED FOUR CENTS
WITHIN FEW HOURS.
With the advance In corn, wheat grey
excited, ard before noon an extreme ed
vance Of cents a bushel took place
Chicago. The speculation in grain of a
kinds, corn. oats and wheat, is now large
than 1t has been in years. as Chicago ha
turned its attention from stocks to its ow
markets, which have been neglected durin
the Wall street excitement of the past tw
years.
In the afternoon the excitement in II
|