The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1894-09-23

CHICAGO. Sept. 22-Northwestern re-
ce;pis were heavy today and spectators
anticipated heavy increase in the visible
supply As result wheat shows loss of
i cent per bushel, while September corn
dropped cents and May 1 cent OF their
previous value. Provisions are lower by
35 cents per barrel for pork, ~ cents III
lard and cents in ribs.
For the first time since August 6 cash
wheat is worth more money than No.
corn. Wheat opened quiet but firm at a
small fractional advance. The frmness
was in consequence of the inspected re-
ceipts here turning out much less than
had been estimated. The estimated re-
ceipts were 100 cars and the number actual
ly inspected los cars. The general condl-
ton of the speculative situation was un-
changed. The weakest feature OF the days
news was the heaviness of the northwest
ern receipts, which at Minneapolis aud
Duluth amounted to $40 car loads COM
pared with only $50 on the corresponding
day of the year before. The speculative
business was local in character and rather
light in volume. Fearing the probability
of heavy increase in the visible, the
clined to sell on account of the weakness
of corn. December opened 574 cents and
sagged YEARLY to "a g cents which was the
price when the minute warning bell
sounded it's caution to prepare for the
close. The desire to sell increased and "a
was reached near the end with 5415 @54}s
cents the closing price.
Corn opened firm, but did not long re-
main SO. 1t gradually became week, then
weaker and was weakest st the end. Stop
orders were reached at every Is cents, de-
cline below 80 cents for May and as The
closing value was 52]4 cents. there were
numerous opportunities for the stop loss
orders to come into pla:. The weakness
was principally in consequence of the pres
sure to sell September, which for the hrst
time this season sold at discount as COM
pared with May. aud for the first time in
about two months cash corn was cheaper
than cash wheat. The receipts were 3o'
cars BY rail and 2400 bushels by canal
September was worth 525s cents near the
opening and 505s at the close, with May
declined one cent from the highest to the
lowest price made today.
Oats were active from the beginning to
the end. Selling was still very urgent,
mostly long stuff, aud prices were again
lowered. The first symptoms of the de-
cline were noticeable at the start. Cudahy
started to raid the market by heavy offer
ings The general disposition was to sell,
and May declined from 3494 cents the OPEN
ing price TO 81 cents. The lowest price
at which price the market closed, decline
of q cent. October ranged from 2912 to
2S5s cents; closinn IS cent under the latter
price.
Hog receipts being light and the grain
markets rather firm at the opening. the
first few transactions in the provision mar
ket showed some steadiness. This state of
feeling was soon exchanged for one of ex-
treme weakness. Stop orders on the de-
cline Were reached in great plenty from
the appearance of the offerings aud the
packers, led by brokers fo- John Cudahy.
made IL easy for stop loss orders To be
reached. There was very little recovery
at the close from the bottom prices, al
though a good deal of covering of shorts
was in progress during the last fifteen min
utes of the session.
Business was active during the greater
part of the day.