The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1894-12-28
DONE IN A HURRY
WHEAT HOLDERS PANIC STRICKEN
NEAR THE CLOsE
Free Selling OF New York House
Proves Contagious and Wheat
Loses = Ceut-Visible Wheat sup
ply Iucreases-Corn Flies High
Till Wheat Strikes 1t.

Chicago, Dec. e7-Hit hard by free
selling near the finish wheat broke l
cent today after general firm session
and May closed q cent lower. The
other markets followed. May corn los
ing Il cent. May oats Is cent and pro-
visions declining moderately
The wheat market opened firm at
small fractional advance over yester-
days closing prices The foreign ex-
change had resumed operations and
sent quotations indicating flrmness. \
plentiful fall of snow covered the entire
country from the Rocky mountains TO
the Atlantic coast and receipts at the
two PRINCIPAL northwestern markets
were light. Chicago also had small re-
ceipts. The Cincinnati Price Current
remarked that revised estimates indi-
cate $4,000. 900 bushels winter and 1861
100000 bushels spring wheat for last
crop. The insinuation that more than
10000, 900 bushels was raised had a de-
pressing effect and Nay wheat which
started at from 5SEQ5Sss cents dropped
YEARLY 10 5Sas cents before buyers
again came forward in sufficient num-
bers TO rescue il and turn it upward
again. After the first decline TO 5SS
cents there was period of lazy fiuctua-
tons between the latter price and 521s
cents, followed by a short interval of
greater strength. during a second or
TWO ofwhich 5Sss cents was freely bid
The publishing of Bradstreet's visible
supply statement caused the market to
weaken a trifie because IL reported an
increase of $4,000 bushels in the visible
supply of the world. Closing cables
firm Tho Of h. rlr-
underwent an entire change in the
last half hour of the session. Brokers
who usually act for <. Cottrell of New
York became such free sellers that
holders FASTENED to join the Cottrell
crowd and tumbled over each other TO
get rid Of their feebly held long wheat
The price tumbled in fifteen minutes
from os1e cents TO o71z cents. The
latest trading was at 575s cents.
Corn was firm at the opening and
brought from Il to y cent more than IL
was selling for when the market closed
yesterday. 1t had a short interval of
comparative weakness but that was fol-
lowed by period of renewed strength
and an advance which went beyond the
first jump. The colder weather and
snow, ii was felt, would cause a freer
use of corn and perhaps lessen farmers
deliveries at the same time. Today the
inspection sheets gave 3s5 cars inspect
ed into store. only five of which were
OF the contract grade. The break in
wheat near the close caused corn TO
lose its early bullishness and although
II did not become as radically weak as
wheat, 1t slumped enough to loSe all
its early advance and a little more be-
sides. May. from 4S7sG49 cents, which
IT struck at one time. dropped To 1875
cents. and closed at iS1. cents bid.
The session in oats was not particular
ly interesting. Sympathy with the
neighboring cereals and the prevailing
bullish feeling were principally promi-
nent in creating higher prices. May
started at 30, sold at Sl5s cents and at
S2Q321s cents and at noon il was selling
at 80 cents. The market weakened near
the finish with wheat and corn, May
closing at 31% cents.
Provisions started firm and higher on
the days run Of hogs proving to be
only 10000 head. Swift & Co. and the
Anglo-American Packing Co. were con-
siderable sellers of lard and ribs. and
Norton and Worthington sold January
pork very freely. Pork broke % cents
below the highest price IL brought early
in the day, but closed with a net loss
OF only ~ cents. Lard and ribs were
compared with pork, quite firm and ia
the end lost nothing of their value at
the close yesterday.
Chicago Market.
CHICAGO. Dec. %
The market .oday experienced tie following
range of prices