Evening star., 1915-11-29
NEW WORKERS CAUGHT
SHORT OF THE MARKET
Kansas City, st. Louis, Minneapolis
and Omaha and Duluth Register
Two Points Higher.

Two Points Higher.
CHICAGO, November 29.-Wheat
jumped in price today as a result of the
Canadian governments seizure OF w.
100000 bushels Predictions, however.
to values here right at the start were
not verified, the extreme opening
changes being to 21a cents.
The market here opened excited with
December delivery at 1.05 to LOS. as
against 1.0312 at the close Saturday, and
with May at 1.07 to LOSE, as against
1.06a106hs.
Shorts Rush to Cover.
Commission houses and shorts were
the most active buyers. Sellers were
scattered, although one of the largest
firms boldly took the position that the
action of the Canadian government
meant that Canada was to have prefer
ence in filling foreign requirements and
that the result would be a falling OH In
export business from the United states.
Reactions from the initial top ngufes
quickly took place, and the market be-
came a broad general one with feel
ing decidedly nervous. Bulls were 10
large extent held in check by opinions
industriously- circulated that the Eng
lish government would probably do all
or nearly all of the British. French and
Italian business. and that United states
exporters would be virtually put out
of business, at least on any material
advance of prices.
New York Is Caught.
NEW YORK, November 2s.-Much of
the wheat commandeered by the Cana
dian government was under contract to
New York shippers. according to grain
dealers here. Many of them have sold
grain for December shipment and must
obtain it from other sources to meet
their contracts They hope to obtain a
share of the Canadian surplus not
commandeered.
Shipping agents say that the SEIZURE
of the wheat by Canada does not mean
that it's shipment to Europe VIII be
diverted from United States ports, as
they do not believe that Halifax and
st. John can handle the Canadian crop.
Portland Me- is considered a great
outlet for Canadian wheat, and ship
pers believe that large proportion OF
the commandeered grain Will be eS-
ported either through that or other
United States ports.
The wheat market here opened active
and somewhat excited today. with
prices from / y to 2la higher There
was considera BILE speculative buying.
but it was believed in some quarters
that the Canadian governments action
would eventually operate against prices
on American wheat.
FURRY in Middle West.
KANSAS CITY, Mo-, November %
First sales for December wheat on the
Kansas City Board of Trade today were
at 90 cents, a rise of 2M over Satur-
days close.
NAV sold at s1o3l2aS1. .o35s. rise of .
cents over the Saturday ending. Many
sales We're made in the first rev MIN
utes of trading. December. however,
soon dropped to 9S while May drlfted
downward on liberal offerings
CINCINNATI. November 29.-Wheat
opened . TO 21a cents higher than Sat
urdays close here today. but dropped
| to IL during the first hour. The mar
ket was nervous.
OMAHA. Neb. November 29.-Wheat
opened from / to 21e higher on the
Omaha exchange today. and the mar
ket remained nervous during the early
dealings
Advances and Eases Off.
MINNEAPOLIS, Mimi, November %.
Wheat took an upward turn here to-
day in consequence of the action yes
terday of the Canadian government.
December opened at S1o1. : cents
above Saturdays close. May opened at
81 .oala to S1.oi, IA to II cents above
close. After the opening
advance prices declined 11a to cents.
Trading was moderate.
DULUTH, Mimi, November 29.-Con-
siderable excitement WAS shown III the
local wheat market at the opening today,
and the course of the Chicago and Min
neapolis markets were closely watched for
leads December wheat opened 1a up.
at 80, advanced u, and then eased OFF
Il. May opened u up. at LOB advanced
more and then eased off y.
ST. LOUIS, November 29.-December
wheat opened on the merchants exchange
today at an advance of / Is to u, and
quotation on December was 1.03A to
l03I., and on May at 1.01 to 1.07 u.
On the first hour December and May
dropped back to an advance of ! and
/ u, respectively. on Saturdays close.
Anxious at Winnipeg.
WINNIPEG, Man, November %
There will be no option market here
today except for coarse grains. 1t is
not yet decided whether there will be
a cash market for wheat.
Long before the trading room was
thrown open for business the precincts
of the Winnipeg Grain Exchange were
filed with an anxious throng of grain
men, elevator men and transportation
men discussing the situation brought
a bout by the seizure Saturday night of
twelve to fifteen million bushels of
grade wheat by the Dominion govern
nent on behalf of the imperial authori-
ties. This wheat was practically all
sold to fill contracts before the close
Df navigation, or about December 10.
All had been purchased at a premium
over the cash month, and. in the case
If sales for export. had been hedged
n some other month or some other
market.
This wheat being suddenly removed
from the sphere of operations, the dis
position to be made of untitled con-
racts became the question uppermost
n the minds of dealers.
Action Taken by Canada