The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-11-05
FELT THE THRILL
CHAIN MARKETS SYMPATHETIC TO
TIE PROSPECT OF PROSPERITY.

l
Election Result Gives . Raoyaocy q
Wheat, Which starts out Br.vsIy, Bu,
later Re acts ON Heavy Selling, Mount,
up Again and 1t Last Takes . Spur
ON tue Appca rance Of . Smaller Il.
crease In tho Worlds supply-Corr
Opens up With Some Strength But 4,
Quiet.
Chicago. Nov. All speculative mar
kets suffered fro1 the selling Of traders
who had loaded VI, in anticipation of an
election boom. M1eat started with a
rush but came do1 N equally as fast,
closing at a net adva nee of 1-2 cent. The
other markets suffer ed more, corn de-
clining 3-S cent, and pi DIVISIONS from IL
to Is cents.
Two factors were I'M 1uential in caus-
ing the strength with which wheat
started. One was the - suit OF the cleo
ton. which was very sat sfactory to the
majority Of the traders, but there was
much legitimate encour4s ement in the
fact that the early Live -pool cables
showed an advance there q nee Monday
/
mental markets were also n 'gher. De-
cember. which closed at rs cen is on Mon
day afternoon, could not be thought at
| the start for less than a cents and SELL
ers were able to obtain u IL ,cents IN
two or three instances. In five minutes
| it was down to 761 cents and again,
inside of another twenty minutes. 1t was
, bringing TIA cents. All outsies mar
bet al Ia ioS Of
and started off with an upward turn.
Advance cables said that Calf. rnia
| wheat had already arrived at CaG ltta
and added that 100000 bushels Arad
been taken at San Francisco for Indi an
account, but on the advance the selISl
quickly assumed enormous proportion
That part Of the crowd that had gon.
home long Monday. confident that the
election returns would be satisfactory
sold heavily and took profits. New
York was the heaviest seller and other
large commission houses had selling or
ders. Baker and others of the bull clique
were supposed to have sold, though this
was doubtful. But there was enough for
sale to start the market off. Sharp
breaks of 2 pence in Liverpool before
noon, equal to IA cents per bushels.
accelerated the decline. During the last
hour the market had q sharp spurt ana I
sold to the highest price of the day: this |
was due to the much smaller increase in /
the worlds stocks, as reported by Bra1- /
streets, than the trade had expected. Ii |
being only 2.25O.0 900 BUSHES. December |
reacted to II 5-s cents, but there was |
sufficient selling 10 cause decline 20 |
IS 1-2 cents before the close.
Corn was quiet and kept within mar |
row margin. Liverpool prices showed d |
substantial advance and this, with the |
strength in wheat, started corn strong /
and higher. Realizing sales by those |
who loaded up before election, and a /
large amount of short selling, brought !
about a reaction. May started about IA |
cent higher. at 29@29 1-2 cents, sold |
down to 80 5-S cents and closed easy al !
IS ga cents.
Oats followed much the same path rs i
corn. The opening was at slight ad- |
vance but realizing spectators who !
had bought in anticipation of an ad- |
vance soon brought prices down again. !
May opened about IA cent higher. TT /
% 1-4G22 1-2 cents, declined to 81 rs !
cents and closed easy at q 7-SQ22 cents
bid.
Provisions were dull after the first ]
few moments trading. Opening prices
were at irregular advances on outside !,
buying orders but lower hard prices and |
selling by packers on expectations Of
large hog runs caused steady decline. .
The closing was easy at bottom figures. |
with January pork II 1-2 cents lower, at
$3.50. January lard Is cents lower, at |
SAP 1-2 and January ribs 21-2 cents
lower, at 1-26395.
Estimated receipts for Thursday:
Wheat IFS cars; corn 675 cars; oats 435
cars; hogs $4,000 head.
NEW YORK WHEAT
New York, Nov. 4.-Wheat opened !
with considerable excitement attending
a IA cent advance in prices since Mon
day night. The sharp rise was in part
due to a bullish sentiment created by
the election results. After reaching 81
cents, December gradually began to
mark off until it touched 50 rs cents,
from which it rallied sharply. only TO fall
back to So IA cents al the close. On the
advance. however, heavy unloading of
long wheat was feature. Cables at
first stimulated the bull feeling here by
showing an advance of led since Mon
day. but later foreign news from Liver
pool was disappointing. Except right at
the opening and close, speculation was
rather slack, total transactions footing
up $685.. coo bushels. Foreign houses sold
at the opening. Final prices showed
1-2Q1 5-S cents net advance.
AT THE BALTIC.
London, Nov 4-Business at the Bal
tic closed firm at Cd to Ia higher than
yesterday A cargo OF No. Northern
spring wheat, November and December
delivery, sold at 3is. Two cargoes OF
Asoff and Black sea wheat sold at 32s Cd
and 32s, December delivery. 35s was bid
for prompt Walla Walla. Another car
go of California afioat sold for Sos Cd.