The Wichita daily eagle., 1894-02-14

CHICAGO, Feb. 13.-May wheat went down
to 5S5l cents today. The opening was cent
lower at 593s cents from which the price went
down to new low price record on contin-
uation of yesterdays weakness. Buying by
shorts on decrease in the visible supply
caused a reaction of l cent but rumors o
local financial troubles sent the price down
agaln and May closed with a loss of Is cent
May corned closed q cent lower; May oats 4
cent lower, and provisions, pork, lard and
ribs unchanged.
The weakness which prevailed throughout
the markets ofthe country, yesterday, was
present in large chunks at the opening OF the
board today, and when May wheat started i
cent lower at 593s cents, traders were nervous
and begun to let go of their holdings, tnei1
fears being augmented by the discouEaging
tone of cables. In few minutes May had
slid down cent more. Not a few traders
were agape as they saw the new record made
at 5s1s cents. The trading at that figure was
light, however, the deluge of long wheat for
sale that was looked for failing to materialize.
The visible supply in England was estimated
to have increased ,047 600 bushels last week,
and the decrease was 100000 bushels. This in
the face of the expectation of an increase,
gave buyers q little encouragement, and with
the temptingly low price shorts did some
covering. st. Louis sent good many buying
orders and reported 10000 bushels taken
there for export New York reported that
foreigners were buying, and May climbed
up slowly till it recovered an advance OF
cent. Near 597s cents the price held steady
for some time, but rumors of some houses
here being in trouble sent prices down "a
cent. A little buying at the finish caused a
recation, and May closed but Is cent from the
top. at 591z cents May opened at 592s cents,
lost !. cent, advanced cent, declined "a cent,
and reacted a cent, to the close, at 5914 cen is
In corn only a moderate business was trans
acted, the market ruling quiet most of the
day with fluctuations confined within 3s cent
limits. Price changes were governed to a
great extent by the action in the
surrounding pits. The feeling early was
weak, but later more strength was displayed.
The opening was Zax cent lower than Satur-
days close, owing to weakness in wheat.
The price rallied "a cent, held steady and
closed with May at the days top figures.
There was a fair trade in oats and a weaker
feeling early, prices declining "a cent. The
price rallied "a cent on good bidding around
the inside figures, and May closed but q cent
under the days top figures.
Provisions opened strong and higher in re-
spOnse to the very light run of live hogs at
the yards and higher prices for them. After
selling off to limited extent, the market ad-
vanced on the support accorded by a prOmi-
nent packing institution. The offerings We're
light and there was not much trading. Later
on. a feeling of weakness was developed with
q limited decline in values. The weakness
eliminated in a pronounced break shortly
before the end Of the session. There was
slight reaction just before the final tap of the
bell, but the close was weak near the inside
figures of the day. Compared with Saturday
night, May pork is 20 cents lower; May lard
10 cents lower, and May ribs unchanged.
Estimated receipts tomorrow: Wheat 100
ears; corn, 630 cars; oats. LOO cars; hogs, 10000
head