The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-10-15
HITS SEVENTY ONE
BUT WHEAT LACKS a CENT AND A
HALF OF CLOSING AT THAT.

Liverpool ZONES Lower at opening but
That Makes no Difference in the Buy
ing, Which is Made 8avenous by Aus
tralIan and Indian Export News From
San Francisco-Long Lines Brought Out
and Dunped. After Which Prices go
Dancing, Closing on n Descen.-Every-
thing Else Lower-Markets in General.
Chicago, Oct 14.-AIl Of the markets
We're abnorInally active today, and the
aggregate business, especially in wheat
and provisions. was enormous. Wheat
spectators were whipsawed by San
francisco engagements from Australia
on one hand, and heavy realizing on
the other, December closing at Is cents
decline. Corn declined g cents, oats
rs cent and provisions 80 and 40 cents.
In spite Of the IL cents advance
chronicled in the local market yester
day, Liverpool opened this morning
with q AGENT decline. But it had no
effect on local operators, VINO appear
ed crazy TO buy wheat, and their de-
mands were not satisfied until a half
hour of the session had elapsed. The
first trades in December wheat were at
from 7O5s to 703s cents, compared with
70H @70ss cents at the close yesterday,
and before the demand was satisfied It
rose to II cents. The strength came d.
rectly from San Francisco. Mesa es
from that city were sensational, and
as some Of them were accompanied by
orders to buy wheat they were IN that
way made doubly impressive. One
message read: six cargoes taken for
Ida, five for Australia; Indian demand
enormous; buy ten December wheat at
the opening" Northwest receips too
We're niue smaller than they have re-
Gently been running. Minneapolis and
Duluth got S67 cars, against ,152 on the
Similar day of the week before. That
such a sharp advance should bring
out heavy lines Of long wheat was to
be expected, and cut they came. One
broker, whose selling was credited to
Armour. let go Of the first large line,
amounting to nearly 1,500, 900 bushels.
Then others came in and a stipend
GUS amount OF wheat was dumped on
the market. A sharp decline was inc
vitable and before bottom was reached
the price Of December had declined to
69A @69ss cents A brea thing spell oc-
CURED for a while and then came the
fun. Prices fiuctuated with the apid-
ity OF kaleidoscope and no one SEEM
ed to know why. The price SCARED to
20 cents and from that swiftly UP to
705s cents. 1t seemed to have hit its
head against something on the last
jump, it fell 50 quickly after to $3.50
691s cents, and it was struggling at the
latter price in a state of collapse at the
end OF the session. Closing continental
cables Were very strong, but Liverpool
closed at decline for the day Of from
Nd to I'D.
Corn was very strong for few min
utes at the opening, helped by firm
cables. After that>it was uncomfort-
ably weak. On the break in wheat
heavy liquidation and short selling set
in, which carried prices off cent from
the top. There was some covering near
the close, causing a slight reaction.
May opened about Il cent higher at
2S7s cents, sold at 2SA cents, declined
to 274 cents and closed steady at 2S1s
cents
Oats opened firm and higher, rather
contrary to expectations, with Offer
ings light and good beIying. The
strength in wheat and corn had consid-
cradle to do with fluctua tons, especial
iy in the weakness which followed lat
er in the day. Business waaS active
and fairly heavy. May opened about
q cent higher. at 21AdN1s cents, sold
between 219s cents and 20s4 cents, clos
ing steady at 207s cents.
Provisions had an emphatic slump.
Hog prices were lower, which started
the market weak and lower. and the
liquidation which was SO marked yes
terday commenced at once. Shorts
also enlarged their lines. Prices de-
clined steadily and closed at very near
the bottom. January pork closed 40
cents lower at $40, January lard 40
cents lower at s42711 and aJnuary ribs
80 cents lower at $3771k.
Estimated receipts for Thursday:
Wheat $50 oars; corn $50 cars; oats $40
cars; hogs 10000 head.