Omaha daily bee., 1897-09-22
COMMERCIAL AND FINANCIAL
Wheat Falls Of as the Result Of E1cep-
tionally Heavy Receipts
CORN is FIRM AND CLOSES HIGHER
oats - Unchanged and Provisions
suffer from More Yellow
Fever Reports, Los
Ing Heavily.

CHICAGO Sept. 21.-Heavy receipts OF
wheat in the northwest this morning set
tied the fate OF the wheat market for the
day. The December option closed at a de-
cline OF lA@1kc, about where 1t started.
Corn was surprisingly firm considering the
wheat weakness, and closed Ac higher.
Oats we're unchanged. Provisions we're af-
fected by more alarming yellow fever re-
ports and closed at declines ranging from
7h to 17iac.
Declines Of 1hdikc marked the opening
OF wheat. December, which closed yester-
day at 92Mc opened today at from 9l%c to
9lssc and was quoted at 91hc almost i'm
mediately after. This was the natural re-
suit OF the enormous receipts at Chicago
and at the northwest points, and the weak
ness of cables Minneapolis and Duluth re-
celved 1,924 cars, against sol Tuesday
week ago and 9O3 the corresponding day Of
the year before. Chicago received 5S3 cars.
against 377 a week ago and 1853 the cores
pondng day OF the previous year. or to-
days receipts at Chicago only Ave car
loads were deliverable upon contracts for
December that have been entered into since
the exclusion OF No. spring from the reg
ular speculative grade. That was about the
only feature of the situation to restrain
short selling that would otherwise In the
temper OF the crowd have been very heavy.
Liverpool opened hd lower and by 1880 p. m.
it had got down to 1hd below the price 1t
closed at Yesterday. Paris was 10 centimes
lower at the start and the news from Lon
don was generally very discouragng TO the
prospect of an immediate advance IN price
A cabegram from there said that French
grain dealers were re-selling American
wheat In the English market and replacing
Il with Indian wheat for spring ship
ment. Another cablegram said wheat
for spring shipment from india was oneFeu
at A shillngs per quarter, or IL cents per
buohel below figures now current. Inc Lon
don Mark Lane Express says that although
the crop of Russia Is very deficient there
will still be 100000 quarters C6A,OOo'OOO
bushes) for shipment from that country.
After the opening decline the tendency Ter
awhile was toward mild recovery. Inc
opening was below put prices and good
many buye's came In who had those pilv'-
leges for protection which caused ially
TO 713,m7lE cents, when a new batch OF
yellow fever rumors coupled with the reports
from London of resellng of American wheat
to buy futures Of India wheat started the
market on a regular toboggan, December
selling down TO 9OSs cents before halt was
called During the decline some stop loss
orders were reached and the market ex-
hibitod the only real activity of the session,
A rally then ensued on covering by sca!pers,
December advancing to 91$@91h cents, at
which price IL was QuOteu at tHe ClVse
Corn was weak around the opening in SYM
pathy with wheat, but soon recovered in re-
sponse to the bullsh influences Immediately
affecting corn. Receipts were 1868 cars, more
than 100 cars below the estimate and much
smaller receipts were expected tomorrow.
Heavy frosts last night were said to have
severely damaged late corn in some localities.
Clea ances were 100000 bushels, Country
offerings light The yellow fever rumors
caused the market to hesitate toward the
end. but nevertheless 1t closed at the top.
Shorts covered generally, December opened
3s OF a cent lower at 3OB cents, sold to 3OA
cents ard closed steady at that price
Oats was firm, especially so for September,
but tade was dull. There was good eX-
Cort demand, 150,0 900 bushels being reported
sold Prices declined somewhat during the
morning with wheat, but this was recovered
later The strength of corn was a factor
Receipts were 435 Cars. December ranged
between 205s cents and 2Oss@20R cents,
closing unchanged at 209s cents
Provisions were weak and dull, what little
demand developed coming from shorts. Sen
sational rumors Of yellow fever at ST. Louis
caused free selling late in the day. Cash
products were pressed, which also weakened
tho market The hog ma ket was firm and
higher. At the close December pork was 17la
cents higher at $S.37h; December lard IL
cents lower at $465h. and December ribs
71a cents lower at $4.92h
Estimated receipts Wednesday: Wheat, $50
cars corn, 900 cars; oats, $50 cars; hogs
23 000 head
Leading futures ranged as follows: