The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-10-14

cemher, which closed ? 90iic, opened
to-day AZ 90ii a 909sc. There yas quite
influential selling for a time, influenced
mostly by the breaking OK the Argen-
tine drought and a slow decline 20 SsAc
resulted BY II o'clock, however. the
complexion OF the market had changed
President Hin, OF the Great Northern
road, estimated that his line would not
have over 10000, 900 bushels Of wheat 60
carry this year, whereas 60, 900, 900 bush
els had been figured on. Tho estimate
was based on harvesting returns, which
were very poor in some localities,
Northwest receipts were moderate,
Minneapolis and Duluth reported sb2
cars against 1908 last week, and s6l a
year ago. Chicago receipts were ls5
cars.
It developed as the day advanced that
the local crowd had sold too much
wheat. An attempt on the part ~
brokers for some of the local shorts to
cover brought out the fact that offer
ings we're very scanty, This put the
trade In very good condition to receive
the report OF export engagements at
New York and outports OF 5OO,000 bush
els,
one OF the most bullish items Of the
day was the Beerbohm estimate that
the worlds available supply had only
increased 5000, 900 bushels during last
week. This was 5000, 900 bushels less
than Bradstreet had figured It. A New
York exporting firm reported that it
had bought over 1000, 600 bushels OF
wheat in the last three days. Official
closIngs at Liverpool, Antwerp and
D,,t, 80, In,,,ar I,,t a psna PannPfR1
later that the curb market in Paris was
UP a quarter OF a franc. Altogether the
trade here showed more strength and
activity than it has shown fol some
time.
December wheat by / o'clock had ad-
vanced to slice, and II was bringing
9l%c at the close,
Corn started very weak, The h@1ao
decline at Liverpool, coupled with the
fact that there are now nearly 2S,OOO,OOO
bushels in public and private houses,
caused liquidation, which was heavy
at first. Shorts covered freely when
wheat turned strong. but the incubus OF
the enormous local stocks made the
market so soggy that only a slight rally
resulted. Clearances- were llght-l4S,O0e
bushels. Receipts were $50 cars. Cash
demand was unsatisfactory. Decem-
her ranged from 2S TO 27Asc, closing I'M
changed at 27b@2Sc.
Oats were firm at the opening, but
the decline In corn caused a disposition
to sell, and values ~despaIred consider
ably. There was an excellent export de-
mand, and this, with the wheat ad-
vance, caused a rally to the lest point
OF the day. Receipts were 2SS cars
Charters reported for 200, 900 bushels,
December ranged from 19Mc to 1870
lS7sc, closing isc higher at 1910.
Provisions started weak, in sympathy
with a 5GtOc lower hog market at the
yards. There was a continuation early
of the recent liquidation by longs, but
when the grain markets began going up
the whole temper OF the market chang
ed. The English houses began to re-
instate property recently sold and there
was good buying by the professionals.
Prices we're at the highest points at
the close. December pork, l2hc higher
at 81 721s: December lard. 2hc higher at
81 25, and December ribs, TIC higher at
81 Az.
Estimated receipts for Thursday:
Wheat, 1856 cars; corn, $50 cars, oats,
go cars; hogs, $4,000 head.
Cash quotations were as follows;
The leading futures ranged as follows: