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Show WHEAT TAKES ANOTHER JUMP Rises Seven Cents in First Minute of Trading May Option Touched Extreme Ex-treme Point. Chicago. July 80. Wheat today Jumped up seven cents a bushel in the first minute of trading The December option, which closed at 91c last night, sold immediately today to-day at 98c Prices were two cents apart in different sections of the pit at the same moment. After a lull such as has been seldom witnessed In the market under any circumstances, prices began a fresh advance and soon touched an extreme of almost eight cents In the May option, op-tion, nearly equaling the record of the day on which was was declared May wheat sold at a dollar and three cents ($1 03) as against 95 3-8c last night Great Outburst In Pit Rumors that Germany and Russia had severed diplomatic relations cans ed a fresh buret of excitement in the wheat pit just after midday. n a few minutes prices had surpassed the early high level by more than a cent. Many of the largest traders with drew from the wheat pit altogether Withdrawal of firms from active! business operations on 'change In-1 creased as the day wore on and as j news by cable became more and more omnlous. number of houses went bo far as to give numbers of their employes a complete furlough New York July 30. The cotton market was demoralized today In the heaviest selling movement that has yet developed, prices crashed from $2 to $2.60 a bale below previ Otis finals. Heavy Cotton Drop. New Orleans, La , July 30 As the result of pessimistic cablegrams today to-day from large market centers of Europe and vague rumors to the effect ef-fect that big English concerns were cabling this side not to risk further shipments of various commodities, cotton declined $2 50 a bale during the late forenoon. Eater lu the afternoon another on elaughr carried prices farther down. Just before 2 o clock October stood at a loss of 76 polntB. or almost $4 a bale. |