Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1897-12-21
PRODUCE.

Chicago, December 20.-The Letter
crowd took turn at the May option
in wheat to-day, and the market in
consequence closed at the top of an
advance of 15sc. The trade was the
biggest in the pit for several weeks.
Corn was very strong, and advanced
A@&c. Oats closed 1s@Ac higher
Provisions were Influenced by grain
and advanced 10000 with a big trade
Wheat opened a tri1e under Satur-
days closing price, May starting at
92A03sc Under covering by shorts
the slight decline was covered and the
market during the next hour kept a
little above the final quotations of the
preceding session. Trade during the
time referred to was not heavy and
was almost entirely OF local profess
sional character. The opening decline
was probably due to the heavy receipts
at Chicago, much of which was Of
contract quality, but this was appar-
emily forgotten when it was seen that
it did not keep buyers out Of the
market.
Minneapolis and Duluth reported re-
ported receipts Of 995 cars against l.
2S4 the week before, and sos the cor
responding week Of last year. Chicago
received SIS cars, of which PIP were
No. 1 Northern Spring and SIS cars Of
No. 2 red winter, and III 800 bushels
and 1873 carloads were transferred
from unlicensed to regular elevators.
An addition Of about 1000 bushels
was made to the contract stocks. The
total quantity shipped from all quar-
ters to Europe and the United King
dom last week was 6,756,000 bushels,
against 9,166. 900 bushels the week be-
fore. OF last weeks total, Russia con-
tributed only 1,S80,00 bushels, against
2.112,000 bushels the previous seven
days. This country and Canada ship
ped as usual two-thirds of the whole
The days clearances of wheat and
-four from Atlantic ports were $4,000
bushels 1t was not until after the
visible supply statement for the week
was completed and the increase in he
stocks found to be smaller than eX-
pected, that the market gave any very
clear indication as to which side of the
deal it would ultimately favor. With
that cut of the way and the weeks in
crease only S21 900 bushels, as against
100000 to 100000 bushels increase
looked for, the bull feeling began to
predominant and the price soon re-
sponded.
The total of the days clearances
from the seaboard was increased to
1900 bushels by shipment from Gal
weston. That gave further courage to
the buyers, who took more wheat at
an advance of one cent over the price
they paid for May, and of course the
more the bulls bought the more was
also wanted by such Of the bears as
had been selling during the first hour
Allen & Grier, representing the Lei
ter crowd. were very prominent in the
buying, leading it in fact, but trade
was greatly increased by plenty of out
side orders. Shortly after the opening
May advanced 92%c and hung for
an hour between that price and 92bc.
The heavy buying which commenced
after the announcement CT the day s
clearances gave fresh impetus to the
advance, and at the close May was
bringing 941sc. December attracted
but very little attention; the general
body of spectators abandoned it long
ago and are now merely On lookout
at the narrowed-down combat between
the Leiter-French bull combination
and the Armour -SeavernG-
Peavy elevator interests. 1t ranged be-
tween see and $1.02 and closed at S1.00.
About 100000 bushels is said to have
been delivered by Armour to the Lei
ter crowd in the afternoon.
There was a greatly increased trade
in corn, operators in wheat and pro-
visions both being in the market, and
prices were firm and higher almost
from the start. The action Of wheat,
the small receipts Of 1913 cars, and the
visible reduction of 2,131, 900 bushels,
all helped the price. The market
showed its greatest strength after the
visible statement. May ranged from
29fsc to 291sc and closed 5sGAc
higher, at 297sc
Cats were firm, but did not keep
pace with wheat, and corn showed but
18@Ac advance at the close. There
was better buying by elevator con-
Germs and by commission houses in
general, but there was also a tendency
to realize. Cash demand was not so
good.
The visible increased $4,000 bushels.
May ranged from 227sc TO 221ac, and
closed at 22a4 @227sc Provisions
were very strong and the volume OF
speculative trading showed considera-
BILE increase. The market started firm
and higher, helped by the light run OF
hogs. Some OF the later strength
came from the advancing wheat and
corn markets. The feature was the
purchase of about 100000 pounds of
ribs by one firm. The highest price
Of the day was quoted at the close May
pork zoe higher at s9.G5; May lard 1Oc
higher at $685. and May ribs 15c