The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-07-03
HALF-CENT GAINED
CROP DAMAGE Is TOO MUCH FOB
TIE STOCK MARKET.
Stories of Rust IN the Northwestern Wheat
From the Threshers That the Winter
Wheat Yield Is Disappointiagly Light
shorts Get Anxious While There IL Lit
tie to Sell and an Advance EDsaes-Feel-
ing is Weaker In the Last Hour-Corn
and Oats Change Little.

Chicago. July 1.-The general demon
lied 70 some extent the effect Of crop
damage reports in the northwest but n
spite Of this September closed al an ad-
vance Of 4 cent over yesterdays final
figures. Corn and oats were neglected
and show inconsequentiai changes.
Provisions show small advances.
In wheat lere was a fair trade, but
the market ruled little spasmodic. be-
ing dull early and fairly active later on.
the range for the day being 1bGIk
cents. The early cables were against
the price. as they marty all came lower.
and the stock market was breaking
sharply both in London and in Wan
street This was the chief cause OF the
early weakness and for a short time
there was considerable selling pressure
But the sentipent soon shifted The
Price Current crop summary was re-
garded as rather buIlish and dispatches
kept pouring in from the northwest re-
porting the DEVELOPMENT OF rust in that
region as alarming. Advices as 20 the
threashings IN the winter wheat sec
tons continue TO tell OF Disappointing
returns and the short interest got
thoroughly alarmed and covered active
", while there was little for sale and
an adcanve Of 11s cents was the result.
The bad crop news and the anxiety OF
shorts had the effect Of causing the
weak situation in stocks 70 be over
looked. Had the market not been
hampered by the Wall street situation
and the FREE silver agitation the gain
would undoubtedly have been much
greater. September opened about u
cent higher at 55Is cents. declined to
557s cents, then turned strong and ad-
vanced TO 81 cents There was consfa-
cradle realizing at the advance and
this, with short selling and the effect OF
large estimated receipts for tomorrow.
created a weaker feeling in the last
hour. September gradually sold down
70 56A cents. but rallied near the close
On the Missouri crop report and closed
steady at $685. 1853 cents.
Corn was firm and inclined TO advance
with wheat until the estimated receipts
for tomorrow were given at 365 car..
after which ft ruled heavy, independ-
emily OF wheat. September opened
fractionally lower at 27%9274 cents.
declined to 2715G275s cents, advanced
20 27&9277s cents and closed easy at
21ts cents bid.
AT the opening an easy feeling in Ga T.
was prevalent Country offerings were
free and commission houses sold con-
siderable, under which prices weaken
ed Later the price improved under
fairly urgent demand from shorts and
good acsh inquiry. and prices reacted
the closing showing practically no
change. September opened at 15Ls
cents. declined TO 1875 cents and closed
at the opening price.
The speculative provision trade was
light and the trading pit deserted dur
ing greater part of the session. Firm
ness IN wheat and much lighter receipts
OF hogs than was expected kept prices
above the closing rates for the day be-
FORE and finally wound them I'D az n
cents advance in pork, 21s cents in lard
and cents in ribs.
Estimated receipts for tomorrw.
Wheat So cars; corn $50 cars: oats soo
cars; hogs ., 900 head.