The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-08-19
IT STAYS STRONG
WHEAT RARKET AFFECTED BY
MAINLY BULLIsH NEWS.
New York Stock Market Indicates An On
Stories From Manitoba are Reiterated
On the Other Side are Good Russian
Prospects and Northwestern Receipts
Near the Five Hundred Car Mark-Ex-
ports LiberaI-Sentimsnto of the Crowd
BuIIish-Markets Elsewhere.

Chicago, Aug. 1s.-The apparent re-
turn Of confidence, reflected in New
York stocks, and reported frosts in
Manitoba, gave wheat a decidedly
strong tone all day, September closing
at an advance of about q cent. Corn
and oats were both strong, advancing
Il and g cent respectively. Provisions
on the contrary declined somewhat
Considering the bear:sh1ess OF two, at
least OF the early items OF the. market
news, wheat started remarkably firm.
The New Stock market was firm; call
money in Wax street was quoted al
per cent and sterling exchange was far
below the point where gold could be
proftably exported in its place. In fact
there appeared 10 be a not very remote
probability OF gold coming this way
The frost in Manitoba, which was re-
ported yesterday. was reproduced this
forenoon and helped the improvement
in the financial outlook to scare the few
shorts in the market On the other
hand, favorable official reports regard
Ing Russion crop prospects were posted
which had a. tendency TO weaken the
price and the northwest movement was
nearly up 10 the 500 car mark again.
which had a like effect. Later reports
concerning the frost damage in the far
northwest were contradictory. The SEN
timent Of the local crowd was bulhsh,
however, and the decline was slight and
temporary Exports were quite liberal,
the total clearings of wheat and flower
amounting 10 900 bushels. This and
the firm tone OF clos ng cables impaired
fresh strength to the market, although
the general duIlness of the closing hour
was against any material advance.
September opened Is cent higher at Sass
cents, advanced steadily to 55Ss cents,
declined to 544 cents and closed steady
at 551. a 55A cents.
Corn was strong and higher partly in
sympathy with the advance in wheat
and oats and partly because shorts
showed a disposition to take profits.
There was not much selling pressure.
as the price has gone too low for sellers
to risk much short seNing. September
opened shade lower at 224 cents, and
advanced steadily to OPS as cents. the
closing being steady at 227s cents.
Oats were firm and active with good
business transacted. Offerings were not
large and good demand existed. New
Yorl2a nd commission houses bought
considerable early and they were tire
FRONTIERS Of the advance. An easier
feeling prevailed during the last hour
end prices fen off somewhat, although
the closing feeling was steady. Sep
TENDER opened Is cent lower at 161s
cents, sold UP 10 17ia cents. and eased
off to us cents. where it closed
Provisions ruled lower all day IN spite
OF the strong grain markets and the
higher prices prevailed at the yards.
Considerable liquidation was INDUCED
in, which created an easier feeling, and
a define from the opening prices resulted
The closing was steady at declines OF 71s
@19 cents
Estimates for Wednesday: Wheat 100
cars: corn 4So cars; oats 210 cars: hogs
16, 900 head.