The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-09-26

Chicago. Sept. Pin the fact Of
new suggestion, rather Of a decline
than am advance. the price of December
wheat showed an advance of Is cents at
the close. To the strength displayed by
outside markets late in the day is the
advance principally due. Other mar
kets were fat, corn closing shade high
er. oats !. cent higher and provisions
unchanged to cents lower.
The cable news this morning rather
grated upon the susoeptibilities of the
bulls in the wheat market. The early
ca kilograms quoted Liverpool as open
ing unchanged in price, with tendency
to decline, and somedispatches. received
a little later, even reported prices 3sd
lower. That was all that was NEEDED TO
create come weakness here December,
which closed yesterday at 651e cents.
opened with sellers at from 65A cents
down to CAS- cents, and the latter price
became the point from which the bulls
and the bears made alternate drives at
each other during the first hour Of the
forenoon 1t had a dip to 64Ss2S4&
cents in the first forty minutes and a
Duluth receipts were ~ cars, against
Sal on the corresponding day of the year
before The general tenor of the adj
vices from Minneapolis, however, was
that farmers deliveries in the north
west would be much increased next
week. The reported clearances for the
day from the Atlantic ports amounted
in wheat and -four to DDS, 900 busfEls
Those in the crod who had been tempted
by the apparent weakness of the mar
ket in thefirSt hour of the session to
sci lsome wheat short became uneasy
and began gradually to buy il back.
Not finding ii soeasy TO do 50. their an
xiety increased until everyone wanted
wheat and a rapid advance from 6i1s
cents 70 e61s cents followed A private
cahlegram reported Liverpool Id lower
and helped to depress the market and
when the public closing cables came,
quoting one shilling advance in the price
of -four and wheat only from u to I'D
lower for red, that did much in Great
ing the rvulsion in feeling ST. Louis
was the first to give indications of re-
covery, reporting that cable bids there
were no lower than yesterday and that
the feeling was gaining in strength and
they sent buying orders. The north
west also advanced cent or so. Prices
ruled strong to the close, December
closing at 671s cents.
Corn was quinet and weak chiefly in
fiuenced by the fleeing in wheat. There
was good deal of liquidation and short
selling, resulting in an early decline.
This was recovered later as wheat climb
ed upwards and the close was steady at
practically unchanged prices. May
sof
clined to 241sa7s cents, and closed steady
at 2524a252s cents.
A quiet market in oats was appar-
emily almost entirely governed by wheat.
After an unchanged opening the tone be-
came weak and a slight decline followed.
This was recovered later, thee losing
being at Il cent advance. May opened
unchanged at 1871 cents, and auctuated
between 1875 and 1872 cents, closing
steady at 192sa191h cents.
Trading was only moderately active
in provisions. Offerings were quite free
and the aSy feeling manifested by grain
caused a decline after the opening Dur
ing the latter part of the session the
feeling was stronger in sympathy with
the reaction in grain and a greater por-
ton of the decline was recovered. Jan
uary pork closed unchanged at s7.171b,
January lard cents lower at 40 and
January ribs unchanged at S3.S71k.
Estimated receipts for Saturday:
Wheat 146 cars: corn 1893 cars; oats 4S7
cars; hogs 49, 900 head
EXCITEMENT IN NEW YORK.
New York, Sept 25.-The wheat mar
ket wound UP the session today with a
stampede of the shorts and straight
advance OF cents a bushel. The rise
was attended by intense excitement
nearly all the large crowd had sold
wheat early in the day on the idea that
the bun movement was over. Prices had
dropped about q cent under the pres
sure, SO that some of the local crowd
stod losses of from i ITO cents a bushel
In getting their wheat back. OF the to-
tai future transactions today $3.50, 900
bushels. the bulk was made in The last
hour. Prices closed at the highest
price of the present campaign. 1t was
surunised that the Chicago bun leaders
had a hand In the short squeeze this af-
tArnQOn