The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-01-24
LOSES A QUARTER
LOTS OF LONG WHEAT SOLD AND
SHORT WHEAT COVERED.
Sleet Bound Wires Leave the Market Most
ly to the Home Talent-SIeet Storm and
Expected Cold Wave Raises Apprehen-
sions as to the Wheat Plants Safety and
Houses Recommend Long Customers to
Take Profts-Wheat Closes on the
Rally Caused By Russo-TurIkish News.

Chicago, Jan. pa great deal of long
wheat was sold out today and a lot Of
short wheat was covered also; the net
result of which was a decline for the
day Of 4 cent per bushel. Corn was a
shade easier in sympathy with wheat
and provisions a trifle higher because
Of small hog receipts. The sleet storm
caused such poor working of the wires
that the trading was confined largely to
the home talent.
The sleet storm with the drop OF 20
TO % degrees in the temperature pre-
dicted for tonight, raised great appre-
tensions in the minds OF q number of
local traders concerning the wheat plant
and May opened all the way from O. to
6S1s cents bid and was quickly run up
to 6312 cents, y cent above yesterdays
close, but soon reacted 70 CPS cents.
Apart from the fear of damage TO the
wheat plant there was not much to Gre
ate an impression that an immediate
further advance would be sustained.
Liverpool cablegrams noted an advance
OF only Il to u pence advance at the
opening, as against 2 cents per bushel
rise on the day before here, and a later
dispatch quoted Liverpool closing 70 d
lower and said: Argentine wheat
damage exaggerated" Quite a num-
Der of the commission houses here ac-
knoWledged having recommended to
their customers who were long, the tax
ing of profits. a large proportion of
such orders as came over the wires was
from the northwest and were to sell. An
increased movement from farmers up
there was said TO be one reason for the
sending of selling orders. The closing
continental markets were strong and
he a1n II ,N1 av1y-. I
pence higher and futures Il pence over
yesterdays closing prices. The mar
ket here was very nervous during the
entire session, but the most anxious par
ty in the last half of it We're the bulls.
The price surged up and down twice
between 623s cents and 63 cents but had
worked down by 1890 o'clock to 625s
cents. Much Of the early strength
came from the buying of about 1900, 900
bushels, almost all for account of Ed
Partridge. After a drop TO 621sG621
cents, a runor that Russia and Turkey
had come 10 an arrangement, presu-
mably to the exclusion of the other Eu-
ropean powers, caused a sharp rally 10
62A cents, at which the market closed.
Corn trade was rather light and the
market inclined to droop but the Storm
it was thought, would lessen farmers
deliveries for time, and that helped
10 prevent radical weakness. The
opening price for May was practically
unchanged at 291A cents to 295s cents
and that was Immediately followed by
sales at 29A cents which was the high
est it reached. 1t was down around 20
cents about half an hour from the close
and closed at 291a cents.
Oats were quiet and f1uctuating in
narrow range with wheat and corn. May
opened unchanged at 201a@205s cents,
sold at 205s cents, down TO 203s cents,
and closed with sellers at 2O12Q2O5s
cents.
Provisions were quiet all, with trad
ing light. Fluctuations were narrow
Estimated receipts for Friday:
Wheat 40 cars; corn 466 cars; oats $50
cars; hogs 10000 head.