The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-02-08
SCARED UP HIGHER
LIVERPOOL INTERRUPTS TIE
COURSE OF a BEAR DAY.
Five-Eighths Cent Advance is the Result OF
Batch of Figures Cabled on European
Clearances-Text of the Cable, Showing
Present Decrease, Probably Continued
Shortage and America as Holding the
Ruling Position q supply Country
Corn and Oats Aided by the Strength of
Wheat-Provisions Recede.


Corn and Oats Aided by the Strength of
Wheat-Provisions Recede.
Chicago, Feb. 7.-Some scare figures
from Liverpool on European clearances
brought about a radical change in
wheat today, and the market after
opening with all the other marks of a
bear day, closed IS cent higher. Corn
and oats were helped by wheat and
closed slightly stronger, but provisions
made material recessions.
In wheat there was less doing, the
market at times ruling quite slow, the
range for the session being rs cents.
There was more disposition TO make the
long wheat and while the pressure was
at no time very urgent, it exceeded the
demand and caused the early weakness.
There were three quite bearish items III
the arly news. Liverpool was quoted
Ad lower than at the close Of the day
before, as cabled to thte board Of trade
but a private cablegram, which pre-
sumably covered later hour at Liver
pool than the public message. said
pence lower, owing to disappointing de-
mand for spot wheat The Mlnneapo-
lis and Duluth receipts were 54S cars,
against 511 a week ago and 1SS cars on
the corresponding day Of the year ago,
and a message from San Francisco said
that wheat declined cents per Genital
there yesterday because of failing in
the demand and an excellent promise
for next seasons crop. Later accounts
described the condition of 1.-THE Argen-
tine crop so bad that it was heating in
the holds of vessels. This relieved the
trading from its early sameness and
caused a lively scramble for May wheat
among those who an hour earlier had
been sellers at 6G5s cents and to pay
67k cents for some of it shortly after
the hour of noon had been turned. The
opening prices were "a cent lower, at
from 567s to 81 cents, and during the
first hour or 50 il had worked down 10
665s cents. A private caolegram from
London saying that wheat was strong
there, with indications favorinS mater
tally higher prices, contributed largely
to the recovery. In the late half hour
the market became very strong. The
price for May got up TO 683s cents near
the close and, although various rumors
Were affoat, the real reason for the
squirt seemed to be that New York sent
heavy buying orders because of another
batch Of Oullish statistics cabled this
afternoon by he editor OF the Liverpool
corn trade news concerning European
clearances. The closing price for May
was 6S1s cents.
The cablegram referred to was as
follows:
Liverpool, Feb. ITO the Daily
Trade Bulletin, Chicago-Aggregat
stocks of -four and wheat afoat for
Europe on February 1, were 25.S00, 900
bushels against 29.7OO,0O0 bushels on
January 1, and 35,GO0,000 bushels on
February l, 1885; stocks in store in EU-
rope $4,000, 900 bushels against 60 100, 900
bushels on January l, and Is, 100, 600 on
February !, 1895; combined stocks de-
creased 100000 during January: E,u-
repean requirements large; further de-
crease in supplies anticipated during
this month and March. America ap-
pears 10 hold peculiarly dominat posi-
ton.
Signed) CORN TRADE NEWS.
Corn was a little weaker early in the
day and sold off Il cent, but there was
a fair cash demand. The receipts
continued extremely light and it was
also helped by the last rally in wheat.
May opened about !! cent lower at
30A cents and advanced TO 30as@a
cent split.
The market developed much strength
during the last hour and May sold up
to 303s cents, closing at that.
Trading in oats was limited. The
feeling was generally firm in sympathy
with other grain markets but prices
were not materially higher. May op-
ened Il cent lower at 211a63s cents,
sold up to 211AQ5s cents and closed at
u y bid.
The provision market was heavy,
Notwithstanding the afternoon bullish-
ness of wheat and the receipts of hogs
May pork Started unchanged to S10,571a
and reached down to S10.3712 at the
close. May lard opened unchanged
at $3.50 and dropped gradually to
S5.7212. closing at the latter. May ribs
opened at 212 cents lower, at from
s5.40G5.42h. declined to 1921 and
closed at that.
Estimates for tomorrow Wheat
81 cars, corn 200 cars; oats III cars.
GRAIN MAl.kET