The Wichita daily eagle., 1895-02-09
BOND ISSUE DOES IT
DESTROYS 1HE EFFECT OF FAVOR
ABLE FOREIGN NEWS.
Wheat Opens Surprisingly Strong, Above
Thursdays C1ose-LiverpOol Comes to
the Aid of the Bul1s-Freezing Weather
In Europe Interior Reports Revival OF
Country Milling Demand--W Western
Fields Bare of Snow--Bond Issue An
houncement Followed by Increased Sell
ing and q Drop.

Chicago. Feb. o-Wheat made u cent
gain early on the favorable foreign news
but lost II later on the unfavorable conf
snent upon the new bond issue, closing
< cent lower for May. May corn closed
u cent lower; May oats, ls cent lower, and
provisions at declines.
Wheat opened unexpectedly strong at
from 81 to SIS cents for May. compared
with $685. cents, the close yesterday. The
strength was caused by the firmness of
the Liverpool market which mad been
looked for 10 give its usual sympathy to
the bears here. But the Europeans are
experiencing a taste of the same tenn
perature which has been freezing this
country, and more or less DANA ge TO win
ter wheat may be the consequence over
there. The recent record of small re-
ce.pts in this country was maintained.
Exports OF wheat and our from the Al
tantic seaboard, including New Orleans,
was equal to 2ie,G90 bushels. ST. Louis
reported of the country milling demand
for wheat, and a Kansas City dispatch
reported fields bare of snow at Enterprise,
Kan. The seaboard advised a good de-
mand for wheat to export, q baltimore
message reporting twenty-five loads taken
there and at Newport News at an early
period of the day. The reported placing
of $50. 100000 bonds at 374 per cent by the
secretary Of the treasury did not appear
to give satisfaction to the traders in the
"
mont Of that operation by increasing their
selling. The price for May had up TO that
time preserved itself from getting below
"a cents. and it sold as high as 5iAM54Ss
cents, but after the news of the bond
issue IL dropped to 53i2 cents, where it
closed.
The corn market was firm and Is cent
higher than il closed yesterday. 1t kept
advancing during the forenoon until about
the time when the wheat traders were
expressing their disappointment at the
bond issue. The descent from ass cents,
to which May had risen, to 45l4 cents, at
which rate some opening sales had also
been made, was easy and the value of the
article about half an hour from the close
was 452s cents. Receipts were almost
cars, and none of those of contract quail
ity. The demand from shorts disappeared
during the latter part of the session and
May closed at As cents.
Only fair business was transacted In
oats. Values were firmer during the
entire day and closed steady, May at
291sq2aA cents. after having sold from
29lA cents to that price. Fluctuations
were ruled largely by corn.
Provisions started strong and in line
with the grain markets. but long before
the latter gave any signs of weakness.
the dealers in pork, lard and ribs had
turned around from the bull to the bear
side The packers were given the credit
Of starting the selling which changed the
tone of the market. The impression
seems to be that as soon as the weather
moderateS the run of hogs will be heavy.
May pork opened up cents, but closed
at 22l2 cents loss for the day. Lard, for
May closed at $50, as against SITE yes
terday. Ribs which closed at $40 on
the day before, closed at $3.50.
Estimated receipts for tomorrow:
Wheat, 3 cars; corn, 30 cars; oats. is cars;
hogs, 1900 head.