The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-10-05
WHEELING DAILY INTELIIGRNCER TUESDAY OCTOBER 1881

the market TO close at substantially
unchanged prices. Other grain, and pro-
vision markets we're remarkable chief
ly for their dullness. corn closing &c
higher; while oats and provisions were
unchanged al the close.
The opening In wheat was quiet
enough and some strength was shown,
December, which closed Saturday at
S9h dS9%c, starting to-day AT from
seize to S9Ac But ten minutes otter
the opening the market was treated TO
a break which for a few minutes pu,
traders on the verge OF panic, The
price slumped nearly &c In about as
many minutes. 1t came so Suddenly
that the trade was convinced that sat
urday's curb stories Of put purchas-
es of 100000 bushels had some foun-
dalton IN fact and that the leading bull
interest was getting ready TO lQuidate,
These rumors had the effect OF precipi-
tating general selling, December drop
ping like a plummet to SI%c. From this
point It rallied quickly to SSSc and soon
after gave indications Of settling down
around SSNc, or cent below the open
ing prices While the opening Liver
pool cables noted decline OF sd from
Saturdays closing there had been a
sharp little rally there later, There had
also been reduction of 225, COO bushels
last week In Liverpool warehouse
stocks of wheat and there was very
sharp advance IN the stock market at
New York. II was these Influences that
made the comparative strength at
the outset, though receipts at MINNIE
apolls and Duluth were large at l,5lS
cars, against l,497 cars last week, and
1880 last year, The weather map also
showed that the drought was partially
broken In the northwest by showers,
which covered the three big spring
wheat states. The worlds shipments OF
wheat last week are again large at D.
PA 900 bushels, against 9,067 900 bushels
week previous and 9,0iSOOO bushels
for the corresponding week last year.
Thomnn's october report relterating his
former estimate OF a total wheat crop'of
$50, 900 900 bushels undoubtedly assisted
In Increasing the pressure in the wheat
market during the early break, The
visible supply increased 1851 900 bush
els for the week. AS the day. advanced
1t became more and more evident that
large holdings and long wheat were be-
Ing thrown on the market and that
the early surmlse of the trade was sub
stantlally correct The market was met
on every little rally by so much proper
ty that 1t quickly dropped again. Dur
Ing the last hour, however, the market
gave evidence OF having pretty thor
oughly digested the offerings, The break
had evidently stimulated a lively for
elgn demand, for before l o'clock st
Louis had reported 100000 bushels OF
cash wheat sold abroad, while New York
was reporting sales of forty-two boat
loads there. The closing cables show
ed an advance OF I'D and Paris was
also strong. Late in the day when New
York reports swelled the exports TO
slXty-flve boat loads there was stam-
pede among shorts who had Oversold on
the break, which carried the price al
most up 90 opening figures.
The closing was steady at S9Sc.
Corn was disposed to follow wheat
The market was strong at the outset on
account Of the firm Liverpool cables and
the continued dry weather Prices de-
clined when wheat took its plunge, but
soon recovered and after that the mar
ket drlfted along in the wake OF wheat.
Trading was narrow and fluctuations as
consequences were narrow. Receipts
were 7S9 cars. Visible Increased 100000
bushels. December ranged from 29SQ
29hc, closing at 299sc.
Oats followed wheat and corn Eleva-
tor interests sold quite freely on the
early decline, about the only business of
Importance OF the session. Toward the
close the market gradually rallied and
closed where It left off Saturday Re-
ceipts were CSC cars. Visible decreased
l3l 900 bushels December ranged be-
tween 1881 dl97sc, closing at 1880.
Outside the selling of January product
by few of the leading packers there
was very little business done in provis-
ions. The market was weak early on the
yellow fever news, but firmed up later
on the recovery in grain and on a
slightly improved demand Closing
prices were unchanged from Saturday.
December pork closed at IS 90; Deem
her lard 81 55ai 57lE,and December ribs
81 20.
Estimated receipts Tuesday:
Wheat, 800 cars; corn. SO cars; oats,
400 cars; hogs. 10000 head.
sF,,, 4nadtrs fttt1tYNa ranrRd rs follows.