The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-02-14
NAY GAINS A CENT
COMPARED IN PRICE WITH THE
CLOSING ON TUESDAY.

News Not All SO Favorable for Rise il
Prices as That There is Simply a De-
mand for Wheat-New York Buying
Orders and Good Foreign Demand
Decreased Northwestern Receipts and
WheatfeIds Bare and Ready for Dam
age by Freezing-shorts Cover Actively
Corn, Oats and Provisions Advance.
Chicago, Feb. 13.-Wheat news today,
although leading toward higher prices
was not entirely responsible for the
advance made. There was a general
disposition to buy and the effect was
shown in the gain in the price of May
wheat Of cent over Tuesdays clos
ing prices. Corn and oats advanced
about Il cent each. Provisions are up
sharply and show substantial gains.
Wheat showed decided strength and
sold up nearly 1 cent from the close of
Tuesday. At the start the feeling was
somewhat easier and there was a sale
at II cent below the close Tuesday.
but there was a good class of buying
and with rather moderate offerings,
the price was gradually advanced and
before noon, the gain was over l cent,
The early cables seemed weak, but the
second one reported some Improvement
NV York sent generous orders and a
fair foreign demand was reported
there and the clearances from that
port were reported at 265, 900 bushels
in wheat and nearly all the big specu-
lators were said to be taking wheat
very freely. The falling off in receipts
at Minneapolis and Duluth for the past
two days, $50 cars, compared with $50
cars last week, and the fact that much
Of the growing wheat is unprotected by
snow and liable TO injury from a sud-
den freeze, made shorts nervous and,
taken in connection with the strength
displayed, caused a good deal of COW
ering. The liberal local shipments by
rail and action of the Western Freight
association in cutting rates on wheat
to Kansas points one-half, or Il cents
per 100 pounds, was also instrumental
in adding to the bullish sentiment. It
was rumored that the big clique Of op-
orators which has been operating TO
depress the market for some days had
secured factory lines and was now
working for an upward movement. May
opened somewhat irregular, about 4
cent lower at 651a@%s cents, but then
turned strong and went up gradually
to 661zQ5s cents, split, reatcing under
some active realizing to 66H cents. The
market kept strong during the last
hour, mainly on predictions of colder
weather, and there was active buying
largely to cover shorts. May sold up
to 667s cents, but eased off q fraction,
finally closing steady at 669s cents.
Corn was quiet but strong, Influenced
by the strength in Wall street and was
also influenced by the storm, which
is expected TO cut off receipts. May
opened unchanged at 297s cents, ad-
vanced to 31A cents, and reacted TO
901s cents. The market held steady
and firm during the last hour, May
closing at 301s cents.
Oats were quiet but firm and closed
a shade higher. sympathy with wheat
was the main cause for the advance.
May opened unchanged at from 207sD
81 cents, sold up 10 PIX cents and clos
ed at 21s@A cents.
Provisions opened firm at a Slight
advance and gradually worked higher
The strength displayed by wheat and
an unexpected firmness. For May
the small run Of hogs gave the market
delivery, pork closed at s10.32ls, against
SO on Tuesday Lard left off at $50.
as against $500 on Tuesday, and ribs
at s5.372 compared with yesterday.
EStimated-Wheat 200 cars: corn 23G
cars; oats 25S cars; hogs 10000.