Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1914-07-29
war BOOSTS
PR|CES IN
WhE;k PIT
WILD SCENES ON CHICAGO
BOARD WHERE FORT
uNE;s ARE MADE y N
FIVE MINUTES.
GRAIN UP nine POINTS
News Starts Panic on New Yorl
stock Exchange and For !.
eign securities Slump. s5E

Y Chicago, July 2S.-War ran up
wheat on the Chicago board Of trade
to q total Of nearly Loo, 900 900 bush
els and shot prices skyward, IS IA to
8 IA cents. No other day In the
twentieth century has witnessed trad
ing here equally IS swild. .5
Failures Looked For.
Although failures m0mentarily are
looked for, none was announced to-
night, however, and margins are be-
ing called for right and left, to such
9 wide degree that It seemed certain
that the volume Of business tomorrow
will he greatly restricted, as c0mpar.
ed with today, regardless of how high
or low the market sweeps. Stories {of
fortunes made. and lost today are nu-
merous, but mostly are not well veri-
fed. 4 Il. # "a,
Made 32s, 900 In rev Minutes.
The most specific case OF sudden
riches is that OF q heretofore obscure
pit trader, who actually pocketed $685.
900, which he netted in an interval of
exactly five minutes. Hundreds Of
spectators thronged the galleries on
Change and looked down upon the
traders, who struggled and tumbled
In the pit The uproar made by the
brokers was plainly audible in the
streets surrounding the board.
New York. July 2s. xpectations
Of war between Austria4Hungary and
i6ervia and its subsequent declaration
demoralized the markets Of the world.
War was not declared until after the
:bourses Of Europe were closed, hut
IN London. Berlin. and Paris panicky
conditions and severe dec caneA in NJ
curities anti icipa!tsga 4 thee. annc nm gcuanee.
ment. assN's9 ssEs' 'sg'sS H n ss'4s s'tss
AZ all three capitals the bonds Of
European governments, which have
tbeen steadily dropping, registered
further losses.
Heavy Run on Banks.
In Vienna there was q heavy run
on the most important banks In the
dual monarchy, the Austrian Savings
bank. News Of the declaration reach
ed this country while the markets
were in session. With 1t came an av-
alanche Of foreign selling on the New
York exchange. Leading securities
slumped 5 to 20 points and conditions
paralleled in intensity the domestic
panic Of 1907. Stock exchanges in
Montreal and Toronto suspended SEES
si0ns.
PANDEMoNlUM At MINNEAPOLIS
St. Paul, Mimi, July %. Inn
mediate effect in st. Paul Of the dec
laration OF war between Austria and
Servia probably will be to send the
price of -four up 20 cents per barrel,
according to ]. G. Enright, q local
miller. n.
1T is not so much because Of the
increased need or scarcity, as to the
speculative tendencies of the grain
market said Mr.. Enright today,
within half an hour after the news OF
the war situation in Europe struck
the Minneapolis wheat pit, and the
price Of wheat shot up 4 1-2 cents.
There was more excitement on the
Minneapolis board than any member
of the chamber of commerce reme;n-
bers having seen before. IPandemon-
tum broke out when the big rise came
and the immediate dumping on the
market of large quantities of stored
grain held for just such a rise caused
q sudden reaction Of 2 cents. Partly
responsible for the situation was the
report that the wheat crop Of the
mort Invest had h,en Ynpnaco6 Inv y,Iat
and drought.