The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1914-07-29
Wheat Settles Down.


Ton leather will come next.
Wheat Settles Down.
CHICAGO, July 2s.-Wheat snowea
a loss of from Is to ~ cents at the
opening OF the Chicago grain Market
today. the advance Of yesterday paseo
ON war bulletins having been check
ad Cables from the Liverpool grain
market where the outlook for peace
vas regarded as favorable. inspired a
reaction here. :,
THO early trade was enormous and
yesterdays frantic scenes were TO
heated. For few seconds AFTER tae
opening tap OF the gong. there was =
moment of hesitation In plt packeo
with traders. Then a rush OF seliins
orders. based on the belief that there
would be no general European war
carried prices down. Within n1teen
minutes a moderate buying movement
&c. In and prices again made slight
advances. September futures suffered
most under the heavy selling move
ment.
Brokers worked all night over their
books computing losses or gains IN
yesterdays panic. Several firms were
reported during the night 10 nave
been on the verge Of bankruptcy put
no suspensions were announced ana
. more confident feeling dominated
the market today.
Provisions made conservative ao-
yances on the war news.
Flour Takes . Jump.
MINNEAPOLIS, Mimi. July %
Notwithstanding the forty cent raise
in the price OF -four per barrel this
morning. the price OF -four VIII not
become prohibitiTe, according to +.
]. Clark, vice president OF the North
western Miller and Flour Market Rec
ord. here today. The price OF flour
today Is $40 per barrel in the wooC.
There is likely to be considerable
fiuctuation in the price of -four" said
Mr.. Clark today. This is due to the
European war situation. The Euro
pean crop is short and this was reck-
oned with some time ago. The Euro
pean crop is much harvested, how
ever, so that war can hardly devas-
tate It,"
w. r. Morris, manager Of the st.
Paul Bread company, says that the
price Of bread will not be affected by
the changed prices.
Getting Too Excited.
CHICAGO, July $50 intense was
the excitement In the wheat pit early
In the morning that warning was
issued that repetition OF yesterdays
riots when traders tore each others
clothing, would mean a suspension OF
business for the day. A meeting OF
the directors OF the board was called
and a warning ISSUED to the brokers
not to demand too excessive margins
Some OF those caught short yesterday
were said to be asking margins az
high as 20 cents bushel today. VIC
lating the board rule calling for ten
cent margins. The clearing house OF
the board Of trade announced shortly
before noon that every firm had
weathered the storm OF yesterday. To
ward noon trading was less excited in
the wheat pit.
Two Failures Reported.
LONDON. July 29.-Advices were
received today that the Liverpool e1
change has suspended its accounts o.
the bourse In Amsterdam. The st
Petersburg bourse has closed. Two
failure at the Glasgow exchange are
reported.
Made s1es. 100000 In a Day.
WASHINGTON, July 29-In on,
days tumultous trading on grain ex
changes yesterday. the European wa
scare enhanced American grain price:
$3.50 sos 900, according to the lates
figures available today at the depar,
ment OF agriculture.
Increase OF ~ cents per bush e
on an estimated 1914 wheat crop o
the United States $4,000 900 bushel
boosted the value ss6,025, 900 yestel
day to the total Of 1857 1926, 900 at 921l
cents per bushel.
The rise OF 2A cents in corn er
HANGED the estimated crop OF 2,916.o0
bushels In the United States b.
S65. 623, 800 to an aggregate value O
S2,172,S67 900 based on the closini
price at Chicago OF 741a cents pc
bushel.
Tho increase OF ~ cents in oats t
81 cents per bushel raised the value @
the 1914 crop, estimated at 1,197,1oo
600 bushels by s17,s56,5oo to a tota
OF $342,92S,SO0.
Berlin Banks.
BERLIN, July 29.-Owtng to tn
critical financial situation the bank
of Berlin today announced suspension
of their monthly settlements. TIL
action was taken at the request o
the governors of the bourse.
-.