The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-10-11

CutI3-m3rhclS III ocucTdts
Chicago, Oct. 1o.---The markets with
out exception were strong today. Com
pared with Thursdays closing prices.
there is an advance Of Is cent N wheat.
q cent in corn. !. cent in oats and S24e
oeGts per barrel IN pork.
Several influences combined to help
wheat. perhaps the principal one being
reports OF disaster TO the Australian
ing the Ssjolity of the crowd in the
wheat pit were inclined to take bear
fsh view Of the situation. But il was
only for that length of time Then the
sentiment suddenly changed and for
an hour Prices were going steadily up
ward. until an advance of over cent
from the opening price OF 6slea6S%a
cents for December had been reached.
The easy feeling at the opening was
principally caused by the northwestern
receipts. Minneapolis and Duluth re
cet.ed 1.026 cars. which, although IS
cars less than received on the previous
Saturday, are only "a cars below the
number received a year ago when the
acknowledged very heavy crop OF that
season. The bears were also Somew hat
encouraged by the View which Brad
streets expressed OF the size of this
years crop, which that authority IS in
oiinsd 10 think viii not fall much short
OF 800, 900 900 bushels. Among the rea-
sons for the advance which so suddenly
followed the opening. weakness were
the following: The weeks clearances
of wheat and -four from both coasts
were again over 1000, 900 bushels. Liv-
erpool was firm at about yesterdays
advance Of s4d and reported another
cargo Of wheat as being engaged for
shipment to Calcutta A San Francisco
telegram said cablegram from Aus
uaiia to a reliable house reported the
wheat crop in Australia destroyed by
hot, scorching weather. The statement
was afterwards reiterated in another
telegram and helped to cause the ad-
vance TO 6s7s cents in the first hour.
Later, however, the bull feeling toned
down e good deal; it was rImored that
the visible Monday would show an IN
crease OF 10000 bushels. Cuahy was
also reported to have taken advantage
OF the advance to sell big line and ST.
Louis took profits On about 1900. goo
bushels. The price declined to 6S1z
cents but reacted again and closed
steady at So cents, an advance OF about
Is cent.
Corn was active, strong and higher.
The local receipts were below cxpeota-
tons. The export Business kept active
and made a sharp advance. Shorts
covered and there was a good invest
meDt demand. The strength was main
tanned even through the soft spots OF
wheat, and the closing was firm at a
good substantial advance. May OPEN
ed Il cent higher at 26ssaZ cents, adj
vanoed to 271a cents, and dosed firm at
27ss cents.
Oats were firm and higher. mainly in
fluenoed by the action OF corn. Bust
ness, for Saturday, was very active,
and the aggregate sales considerably
in excess of rile average. Demand was
good and offerings moderate, yet suffi-
GENTLY meagre to bring about a firm
feeling. May opened Il cent higher, at
1881 cents, advanced to 20l4 cents, and
closed steady at 201s cents.
Provisions were very strong Pack
ers were liberal buyers, and although
one firm sold 5000 tierces of lard, the
market absorbed 1t and advanced while
it was being disposed OF. After some
reaction from the top prices, heavy out
side buying orders were received and
were the principal cause of the bullish
snap with which the market closed.
January pork closed 321a cents higher
at 1924. January lard ~ cents high
er at $3.50, and January ribs 121s cents
higher at 3.S71a.
Estimated receipts for Monday:
Wheat 325 cars; corn LOO, oats 600:
hogs Il, 900 head.