The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-05-25

Chicago. May 24-The edge was taken
off the bull movement on the board Of
trade today and everything closed low
er. In cimparison with yesterdays
final figures wheat finished Is. cents
off; corn Ia cents, oats 4 cent, pork
so cents; lard and ribs 2ls cents each.
The weakness in grain was owing TO he
Wy realizing sales made in the face of
the most gloomy crop reports yet re-
ceived and that in provisions was the
result Of the heavy receipts Of hogs and
the weakness in corn.
a reaction was in order.in the grain
markets. The commission houses that
for more than two weeks have been
urging their customers who had good
profits in wheat bought so take them
succeeded at length in inducing a suf-
ficient number 10 sell 10 cause a consid-
cradle setback in the price. Although
the Liverpool wheat market opened .
pence lower than il closed yesterday
and it had rained in Kansas during
the night, the market here opened with
some buyers willing to pay 10 cents
for July wheat. Not many, however,
paid that: the great majority were
as il was worth al the close Of yester-
days session, and some even pressed
some wheat for sale which had a good
profit in il, al Isl. cents. a great deal
of wheat was wanted at from 1914 up TO
ISA cents, and before the early buy
ing orders which succeeded the opening
break could be all filled the price rose
again to 70 cents. For about fifteen or
twenty minutes the price heaved up and
down in irregular swells and depress-
ions between 1855 cents and 20 cents.
and then came a crash. Corn, which
was showing heaviness on account of
the liberality of receipts of that article
commenced TO tumble and when 1t broke
to Y cent below the price ii had closed
at yesterday, then wheat had SYM
pathetic spasm and collapsed suddenly
to 17A cents. The reviving influence
of fresh buying orders was again appli-
ed and before many minutes 1. had
again recovered to 19A cents The
first downward plunge was due TO the
lower cables, sales by longs and the ex-
ecution Of stop loss orders. On the
next turn it declined to 1885 cents and
then kept webbing lazily for an hour
or more between 7S1s and 70 cents. The
volume of trading was very much re-
duced as compared with the tremen-
dous bulk Of business done every day
for ten days back. There were con-
siderable intervals during which there
was actual dullness in the pit, but at
no time was there entire absence of
nervous watchfulness that kept the
pit filled with brokers all alert for con-
tinSencieS. The reports from the coun-
try concerning the crops of the states
of Indiana and Illinois were wofuI in
their monotonouS reiteration of de-
stTuction. In addition to these states.
ONO. Kentucky, and Missouri Joined
the doleful chorus and even the north
west had some complaints sent about
unfavorable weather for spring, but il
was raining in South Dakota this morn
ing, SO that, as regards spring wheat.
the belief in good prospect for it did
not suffer. The market began TO weak
en- very much after noon and long
wheat kept coming In heavy chunks
from that time up to the close That
resulted in rapid and heavy drop
in the price. There was strong fights
during the decline. at IS, 77il and final
~ 'o7s cents. but It was not until the
later point was reached that the SELL
ing orders ceased to prevail There
was rapid recovery to II cents in the
last few minutes but at the close there
were sellers at a cents, and il dropped
10 1928 cents before the crowd separa-
ted.
The corn market again suffered from
receipts and favorable outlook for the
next crop. good demand from the
seaboard. resulting in the sale for ex-
port or 10000 bushels, sustained the
price early in the day. but the after
noon weakness OF wheat and the fine
weather We're the most influential
factors in the end and a considerable
decline resulted. The opening price
for July was SAX cents. or Il cent I'M
der the previous days closing quota
tlon. 1t was prevented from getting
very weak while the cash business re-
ported was under way, but gradually
worked down 20 531s cents. II had a
quick reaction TO 53% cents, which was
the price at the close.
Further and more discouaginy 70
ports of crop damage by the weather
started comparatively firm feeling
in the oats market. IT did not last
long, however. weakening with wheat
and corn. There was free selling on
the decline and at times some difficulty
was experienced in finding buyers.
Taken as a whole, however, business
was active and sales heavy
Provisions were weak from begin
ming 70 end. The hog receipts are
providing more than the cash demand
will absorb and corn is weak.
Estimated receipts tomorrow: Wheat
20 cars; corn $40 cars: oats $50 cars;
hogs 1900 head.
Baking Powder leavens the dough.
biscuits made by aid Of Prices Cream,
BAKING Powder are fine grained and
deliciously appetizing.