The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-04-20

Chicago, April 19.-Wheat today went
up like a rocket and came down like
the stick, Partridge being the influence
both ways. His covering of an ernorm-
Gus short line of four to five million
bushels caused the advance and when
his line was in, prices dropped from
lack Of support, May closing unchang-
ed after IL cent bulge May corn
and oats each closed Is cent higher and
provisions made slight gains.
Wheat was again in good demand
when the market opened. although
some little May wheat was sold at as
low as So cents and July as low as 50
cents at and around the opening. About
two hours after the opening, shorts
were eagerly bidding 59A cents and
taking it at 591s cents when sellers APP
peared relunctant. The influences were
largely Of a local character, but Liver
pool London. Paris and Berlin all sent
higher quotations at the opening. The
demand for -four was reported from all
directions to be good at daily improv-
ing prices. Primary market receipts
We're light. The exports at Atlantic
ports were much lighter than on the
day before, but the shipping demand
here for wheat to go east was early
in the day reported to be excellent.
Among other matters was the contin-
uation of the dry weather. An ad-
vance to 593s cents took place before
the May shorts We're allowed breath
ing spell, but at that price, which was
IL cents per bushel more than it was
worth at the close yesterday. there was
a general taking of profits, followed by
very quick reaction Of l cent per
bushel from the top, 5S15 cents being
Law q
minutes after u o'clock. The extra
demand fer May wheat as compared
with the desire for July is seen in the
fact that while May on the advance
rose from 5S cents TO 1855 cents, July
in the same time only improved from
SO cents to 60A cents, the spread thus
narrowing to Is cents per bushel as
against the recent difference of about
] cent. The business in the pit was
broad. Partridge covered great
deal of May wheat today through
houses other than Partridge and Lee
ming, his usual brokers' With the re-
lief afforderd by the selling out at
profit, of much long wheat, the pit
quoted down and the few buying Or
ders which came in the afternoon We're
supplied by the scalpers. May settled
down around 5S1a cents and stayed
there for a considerable time without
life enough to move. In the last TWEEN
ty minutes of the session il became
common lr1lmor that Partridge has
covered between four and five million
bushels of his May and July wheat and
was now practically ashore. He GER
tainly recovered freely but is not sup
posed in well-informed circles to have
bought in one-half of his line. The
market became heavy toward the end.
May sank gradually to 5S cents and
closed at 5Sk cents bid.
no vi yy-i.f
tendency early in the day TO follow the
fluctuations in wheat, but later, when
the friends of wheat had deserted it.
the corn market did not respond to the
others weakness, and closed a shade
higher for the day. the latest trading
in May being at ASS cents. 1t sold as
high as 46ls cents, when wheat was on
its high horse. The receipts were ISL
cars and shorts covered rather freely.
Oats met on a fairly goods sale. The
advance in wheat was followed only on
a moderate scale and offerings increas-
ed as the price was added to ii. Car
rington- Hannah and Bartlett-Frazier
sold heavily. May tarted at eSls cents
and sold up to 2S% cents. There was
rather scant buying at that price and
a drop followed. The decline went as
far as 2Sas cents, at which price the
market closed. July sold from 274 II
272s cents. down to 27Ss az cents and
rested at 271h cents, II cent higher.
The provision market opened weak
on receipts of 5000 more hogs than had
been estimated and cents decline in
their value Later the market became
firm with wheat and in lots quite strong
with the erly deClin turned into an adj
vance. In the end pork closed with a
net gain Of l2l5 cents; lard advanced 212
cents and ribs cents.
Estimated receipts for tomorrow:
Wheat, 45 cars; corn. 200 cars; oats. rs
cars: hogs 5. 600 head.