Wichita eagle. [volume] (Wichita, Kan.) 1886-1890, 1888-03-13
9ailY - eagle
FINANCE AND COMMERCE.
MARKETS BY TELEGRAPH.

NEW YORK, March 1.-THE stock mar
ket this morning was materially affected
by the storm and only a few brokers were
on the floor when the signal to begin bust
ness was given. In only few stocks were
any transactions and they We're generally
&c to sc higher, but after slight
advance the market sagged off nc on the
execution of few selling orders. After
the first hour the danger of continuing
business in the unsupported market be-
came apparent and brokers decided to dis
continue business so far as possible.
Chicago Grain and Produce.
CHICAGO, March l2.-Cables were dull
and weak and brought no encouragement
for holders of grain on this side. Tele-
graphic communication with the east was
almost entirely cut off by the heavy storm
in New York. Operators were mostly
bearish and the dizziness and absence OF
supporting orders tended to make them
more so and induced liberal selling orders
by local scalpers who had things their own
way.
Wheat was heavy during almost the en-
tire season. Bulls seem to have lost what
ever nerved they possessed and manifested
no disposition to trade. Bears were
emboldened by the dragging tendency
of the market and sold with more
than their usual freedom and forced
prices down nc without much effort. The
visible supply was expected TO show de-
crease of $50, 900 bushels, but complete re-
turns from the east have not yet arrived,
owing to the storm. Taking the points
heard FROM local statisticians made a de-
crease of about 100000 bushels. Large
operators sold freely during the morning,
but after midday business became slow
and fluctuations narrow. The close be-
ing weak at most inside figures. Opening
sales were at slight decline at S01S@S014c
for May, sold to 1890, rallied to SOC, broke
10 1890, and closed at 1890. The deferred
futures came in for emore attention and
sold with considerable freedom.
The volume of business in corn slightly
exceeded that in wheat. The opening was
weak and shade lower at 5316c for May.
A declines to 5l$4c occurred the first half
hour but was followed by a rally to open
ing figures. Receipts were 81 cars a con
siderable increase over estimates. This
started general selling movement and in
less than an hour the price was down to
511Ic. Shorts covered freely on the break
a good deal of long stuff came out and the
market remained nervous. Fluctuating
for several hours between 5lLs and 513.c
and finally touched SIC but weakened and
closed at 81 q and 81 nc The visible sup
ply as far as made up showed no change
of Importance either way.
The oat market was dull and featureless
May oats opened at BIG and closed at
81 &c. June closed at s1l4c.
1t was dull day In provision circles.
There was little or no outside trading, and
barring a>little buying of pork early by an
old time bear and IA house supposed to rep
resent leader on the long side of the deal
the business transacted on local account
was devoid of special feature. Bullness
held full control and in short ribs and lard
the Quotations were unimportant May
pork sold at sl4O71GGs14 Is and closed at
s14.10. May lard stood at S7.7O@s7T15;
short ribs, May, sold at s7.75@S7.771G.
Leading futures ranged as follows: