The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1894-04-17

CHICAGO. April 16.-Wheat opened weak
And closed strong today with a gain of q
Tor May. Favorable crop reports caused
The early weakness and reports of crop
damage the latter strength. A liberal de-
Grease in the visible supply also aided in
The recovery. Corn was firm and gained
cent. Provisions were very strong and
Eiosed at the top of fifty cents advance
In pork.
Wheat got weak start because of the
bearish nature of the early news. For
Rign advices were to the effect that show
BIS prevailed in England and private dis
kparch from Stiasburg, Germany. said that
heavy rains were general there and that
crop prospects, which before were
coed, still remained SO. Some
more rain had fallen in Kan
sas and of all the planks in the dry
weather platform of the recent short bull
campaign, the drought of California alone
remained. Even that was jumped upon
This morning dispatch from New York,
received here about the opening, reporting
rain in Northern California. The amount
of wheat on passage had increased 512, 900
bushels and India appeared to have ship
{ ped more literally than of late, Beer
bohm's cable gives 800 900 bushels as In
The receipts in the northwest were again
9iberal. All these matters put together
caused decline in price here OF 1 cent per
bushel in twenty minutes, compared with
Saturdays closing. Tue business done
during the decline was not very heavy and
hfter the decline trading became quite
Slack, but with indications of returning
confidence among holders. May opened
with sellers ut 59% as against COZ at the
elose on Saturday. In the next
two seconds there was business
done at 591S followed by rally to 595,
and then by a decline to 59H. July. which
closed on Saturday worth only 15s TO Ia
kents more than May. improved to
premium of from q TO cents in the first
half hour. The sentiment of the crowd
underwent a complete change on account
Of the considerable decrease in the visible
supply and An advance to 601sa60I
for May and 6l1s for July was the
There WAS a reaction in May to 59al but
, bellers did not offer much. Closing cables
came weak and caused another spell of
comparative heaviness here, May dropping
again to 59sl After the a cent decline
which followed the report of the weak clos
ing drought dispatches from California
which started the crowd to buying again
bnd the market went higher than before
Ind closed 6014 for May.
The corn market was strong after a mo-
mentary fit of weakness at the opening.
There was no change of moment in pre-
Giously existing conditions to account for
the strength. unless the greater buying
disposition of foreign houses in New York
could be accepted as warrantlng more
Ermness here The visible supply de-
creased 400. 600, aud the publication of
that fact WAS the cause of some strength
In the middle of the session. The business
done WAS not heavy.
May opened at 3sI as against $50 on
Saturday. Ii Immediately began to inn
prove aud coached 3S5s. The market was
at its best as business was coming to an
End for the day and May closed at 3Ss4 and
July at SS1s, or higher than Saturday.
Large receipts aud the fine weather suf-
feed TO cause a heavy feeling in the oats
market, opening values were at one time
half cent under Saturdays last quota
tioDs, but at noon had gained cent over
the opening quotation. The market
showed Il still more steady feeling at the
close and prices reacted to where they
closed on Saturday.
Provisions opened with a bounce of ID
to 20 cents over Saturdays closing rates
for pork, 1-2 and 10 cents over for lard
aud from to 20 cents higher for ribs.
That WAS only the beginning of a very
strong market which remained of that
complexion to the close. The strongest
phase of the market was prevailing as 1t
closed with everything at the top of the
days range. Pork closed for May at IL 80
and July l3 40, beIug net gain of so cents
per barrel Lard for May gained 81 l-2 and
May ribs closed % cents higher.
Estimated receipts for tomorrow: Wheat
Jos cars; corn $50; oats; 227; hogs $1,000
head.
Chicago Market
CHICAGO, April. 16.
The market today experienced the following
range of prices.