The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-01-29

Chicago, Jan. 2S.-After a sharp
break today caused by selling on the
heavy gold export, wheat rallied on lib
eral covering by shorts and finished
with a half cent gain. Corn closed q
cent lower; oats 7s cent lower and pro-
visions at slight declines.
The price of May wheat took fresh
tumble at the opening today. The
crowd appeared to have scarcely any
selling orders to start with From
5@1sG53 cents for a few lots right at the
beginning the price ratified down in
less than minute to 525s cents. That
decline appeared good enough for some
heavy shorts to cover and in the next
forty minutes it had reached 53A cents.
The rush to sell at the start was doubt
less due to the Washington news that
premium on gold coin was within the
possibilities of the week. The price of
May wheat was however almost entire
ly matter between longs and shorts.
The former sold early causing the first
break The shorts bought enough to
cause a reaction to 53A cents That
was followed by another period of real
iZinS of long wheat which was pTinci-
pally due to the wicked shake out of
the holders of corn. That caused wheat
To drop TO 52A cents at which point it
was again taken hold of by shorts and
reacted to 531a cents the closing price.
The visible supply figures did not have
much influence as they showed such a
decrease as had been looked for.
Corn was firm at the start but raid
ing by several prominent houses weak
ened the market. Stop loss orders be-
came numerous and the close was weak
The visible supply increased 376, 900
bushels, compared with an increase of
100000 bushels a year ago. Shippers
here who have corn in New York claim
that they can find no sale for ii at the
equivalent of Chicago prices. The NOM
inal opening price OF May corn was
451a cents, or Il cent above the closing
price on Saturday. Very little could
be disposed of then at the price named
but after its first break to 451s@A cent
which occurred Immediately after the
opening, it recovered to 451A05s cents.
1t was hanging around 45A cents on the
second decline when the raid started.
Tt dropped to 10 cents and that caught
the stop orders, under the influence of
which the price went down to Az as
cents. After the recovering to 44% as
cents and declining again to Az cents
ii closed worth Ass cents.
The business in oats was quite active
Prices We're following corn TO some eX-
tent, selling up B@A cent early and
then participated in a decline which
was kept up until shortly before the
finish when the market rallied again
and closed under Saturdays last quo
tations, with May at 2914 cents after
)'aving sold from 29at to % cents. The
lower prices were not alone created
from sympathy. Free selling by Pat
ton Brothers, Bartlett-FraZier and Up
dyke helped the downward turn tar
more than did the decline of corn. The
visible supply figures had no noticea-
hle effect on the market
With only %, 600 hogs at the yards in
stead Of $4,000 as estimated. the provis-
ion market started firm. The first ira
dir in May pork was Sl075 as against
so s. at the close on Saturday. May
lard opened with heavy buyers at 500
against s67212 at the close Saturday
and ribs started at an advance. THESE
opening prices We're the best. The heav-
mess in corn was a encouragement to
holders of provisions and prices sagged
steadily during the remainder of the
day. At the close May pork was ~
cents lower. May lard 212 cents lower
and May ribs 215 cents lower.
Estimate receipts for Tuesday:
Wheat AZ cars: corn 290 cars; oats 115
cars; hogs q, 900 head.