Show LOST FIVE CENTS Wheat Takes a Tumble In New York New York Aug 27Wheat lost 5 cents a bushel today and the lowest point was about ten points under the top notch for the season There wee not enough influential bulls left in the market to make a respectable fight against the declining tendency They have nearly all become Interested in corn which everybody in the trade has been educated to believe is on the eve of a boom Consequently when Liverpool Liver-pool opened away off this morning and followed it up with further declines on later cables the local market simply went to pieces It looked for a time as if the bottom had dropped out so rapidly did prices slide down hill in response to the rain of selling orders with which the brokers bombarded the market There was practically no support sup-port other than that afforded by a little lit-tle buying against puts The December option settled to 95 cents on first sales which wag a sheer break of 4 cents a bushel fromriast night Then it skirmished skir-mished around for a time buffeted up and down by conflicting orders but soon settled into a steady decline which finally landed j half an hour before the close at 93 From here i rallied to 94 where i left off Sell ing was general during the day L cal houses and foreign interests threw over liberal quantities In all 11500 000 bushels were traded in At the close No1 northern wheat was quoted nominally 10 and NO 2 red 102 4 both f o b afloat Flood of Bearish News St Louis Aug 27A flood of bearish news sent the local wheat market dawn today December the active month opene 9iiA 2 cents off from yesterday at 772A further decline of 1 cent was made followed by a rally of 1 cents and n decline de-cline of 2 cents Finally the market closed with buyers c above the bottom Compared with yesterday prices were off 4MT cent for August 4 for September 4 for December and 4 for MayS May-S Liverpool Grain Liverpool Aug 27 Closing Corn American mixed spot new steady 3s H4d old steady 3s 5d September quiet 3s 4d October quiet 35 4d FlourSt Louis fancy dull 7s 9d No1 red northern spring dull 8s 2d |