The Wichita daily eagle., 1896-07-21

Chicago. July 2o.-The slump in Wall
street, gold engagements and Tack of
cash demand were felt in grain and
provisions today. The following de-
clines for September devliery were re-
corded: Wheat 1s@ss cent per bushel,
corn ts@Z cent, oats u cent, pork 21k
cent per fsarrel, lard 10 cents per 100
pounds and ribs 121z cents.
Tumbling quotations in Wall street,
large wheat shipments and declines in
foreign markets were incentives to free
selling Of wheat on all sides at the
opening. The consequence was that
the price Of September wheat opened at
G decline of about y cent per bushel
and dropped another Il cent IN the
course Of the first hours trading. Laa-
er when the stock market had stopped
declining, the bulls brought forth their
statistics and by u O'Clock the early
declines had been entirely effaced.
Among the encouraging features were
the following: Minneapolis and Duluth
receipts were 354 car loads, partly con-
firming the predictions made last week
that the spring wheat movement was
on the decline. Chicago receipts were
2s4 cars, against 325 estimated. The re-
ceivfng houses reported that the most
meagre responses had been made to the
bids over the September price for No.
2 red of from 1l1 cents to Is cents per
bushel. The visible supply decreased
Al, 900 bushels instead of increasing, as
had been expected.
This bunch OF bulifsh arguments
went for nothing, however, when il de-
veloped that cash up to the end OF the
session was practically nil Gables
were weak and as New York stocks
gave no indication OF recovering. wheat
turned very weak near the close. Sep
tember opened &G1s cent lower at 56ss
@561s cents, declined TO 561s cents. raj
lied to 56a4 cents and sold off rapidly 10
56H cents. closing at 5614 65Sss cents.
Plentiful rain and a forcing tempera-
ture throughout the corn belt gave still
further assurance that the crop would
be an immense one, barring accidents.
Futures ruled very weak Some ex-
port business was done from here. YES
sci room was taken for $50, 900 bushels
The visible supply decreased 522. 900
bushels. September opened at 26I1 TO
2s% cents. against 27 cents, Saturdays
closing. and declined TO 26E cents.
closing at 261+ @28ss cents.
Oats were fairly active and easy.
closing Il to q cent lower than on Sat
urday. At this the market was very
strong. Shorts are good buyers on con-
tinued favorable crop news. The visi-
be decrease was ,121 900 bushels. Ieay-
ing total stock of 1.OOO, 900. September
opened at from 16h to 167k cents.
against 174 cents, Saturdays close,
sold at Tx cents, declined 10 i65sG16aI
cents and closed at II cents bid
Weakness in corn and $4,000 hogs :
the days run; gave a weakness TO the
provision market. Stoy loss orders
We're numerous. September was ex-
ceptionaliy steady, however. during the
greater part of the session, on good
supposed to be for the ac-
count OF a leading bear specuIator.
Closing prices showed only 212 cents de-
cline for the day on September pork.
while January pork lost 171s certs lard
10 cents and 121s cents for the respect
i've months, and ribs from 121l for Sep
teu TO 171s cents for January.
Estimated receipts for tomorrow are:
Wheat 420 cars; corn $50 cars; oats $50
cars; hogs 49, head.
VISIBLE GRAIN SUPPLY.
New York, July 2O.-The visible sup
ply Of grain, Saturday, July Is, as COM
pared fby the New York Produce ex-
change. is as follows:
Whest 46.743. 600 bushels; decrea Sc,
All. 900; corn, $3.50, 900, decrease 522, 900;
oats. 7I07, 600, decrease. 1.121, 900; rye l.
S56, 900. incpease, 2g1 600; barley, 747 900;
decrease, 10000