Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1897-12-14

a1H @91ssc and during the morning
f1uctuated between that price and 915s
@91Ac December, which broke loose
during the afternoon, opened Zee high
er at $1.C5 and UP. to i1:45 a. m. had
not sold below s1.o4. Traders We're dis
posed to await the announcement Of the
government crop estiamte before piung-
ing too deeply into a sensitive market.
The general impression was that the re-
port wouid show much larger acreage
harvested lest summer than the depart
ment has heretofore estimated, and this
showed 6. bearish influence on tho
scalping sentiment, although firm and
slightly higher opening at Liverpool
caused the price Of May to advance
somewhat at first. The government,
when finally posted, estimated the yield
at 530,000,C00, or from 50,000,000 to TO-
coo 600 bushels larger than statistics
generally have predicted. But reports
had been pretty we'll discounted and
followed as 1T was by surprise in the
shape of a visible decrease Of 100000
bushels where an increase Of 1,CGG.o00
bushels had been expected, it had little
or no effect A feature Of the early mar
ket information was the large Iuanti-
ty Of contract wheat added since Sat
urday morning to the stock in regular
Chicago houses From unlicensed ele-
vators, or mixing and cleaning houses
as they are sometimes called, there were
transferred 1877 carloads and $4,000
bushels No. / Norlhern' spring, by lake
155 800 BUSHELS No. / Northern spring,
and by rail 119 carloads No. l Northern
and No. 2 red winter, a total OF about
425000 bushels. Nearly every receiving
house in the trade was in receipt OF in
quiries from country shippers who mad
from one carload to 10000 bushels they
wanted sold to arrive for December.
The uncertainty of its grading, however,
made commission men avers9 to selling
in advance OF its arrival and Inspection.
Northwest receipts were liberal Min
neapolis and Duluth reported 1,2S4 cars
against 1915 week ago and $40 the
corresponding day OF 1896. The total
receipts by rail at Chicago were 81
cars. and as already mentioned 1l9 OF
them were of contract quality. Not
outstanding the heavy receipts OF con-
tract wheat here the trade for time did
not appear to have any doubt or the
ability Of the bull clique to take care OF
all that could be brought in up to the
end Of the month.
About HAS a. m. the price of Decem-
Der began to weaken under a selling
pressure, which was credited to Armour.
The decline was slow at first, but as
the pressure increased and the fact de-
velCped that December was receiving
practically no support, the market be-
gan to slide off in a way that was SEN
sational in it's rapidity. By IL o'clock
December had declined to $1.02, where
it remained for a short time. Suddenly
the market began to slip away another
&c at time and in Is minutes the
price had struck 97h. Then it re-
bounded to S1C2, but again declined
to 99c, and was bringing 991z at the
close, or sc under Saturdays closing
price. May was, Of course, affected,
but not severely. 1t declined to 9012c
during the headlong plunge of Deem
Der. but by closing time had reacted to
Size. a decline for the day of but &c.
Undoubtedly the heavy arrivals OF con-
tract wheat had much to do with the
decline, especially in starting it, but
Allen and Grier, the bull clique brokers,
were mainly responsible for the break
20 971ac. their offerings being eSpec-
tally heavy. 1t was regarded by many
as q move CT IuH lH1lL vi IIE Cll4 tc "
prevent further heavy shipments to this
nIrket. to which rave been natural in
view of the much higher prices pre-
vailing here than in other markets.
The market was quiet but rather ner-
vous at the close.
Corn, though quiet, was firm. Small
country offerings and bad weather west
were hlpful factors.
Oats were slow within an extremely
narrow range.
Some strength developed in provis-
ions during the morning on the small
run Of hogs, and prices opened slightly
higher and improved to a limited ex-
tent. The rise in prices was taken adj
vantage Of by packers to sell, but the
offerings we're fairly well taken care of
until the smash came in December
wheat. This made buyers timid and in
the absence of support the market lost
it's advantage. At the close May pork
was 215c lower at $3.50; May lard I'M
changed at $4.521a, and May ribs IN
changed a t$4.35.
Estimated receipts Tuesday: Wheat
$40 cars; corn, $50 cars; oats, 600 cars;
hogs 10000 head.
Associated Press Quotations.
The leading futures ranged as follows: