The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-11-11

CHICAGo-Every trace OF the weak
ness which has prevailed in the wheat
market lately disappeared to-day.
Strong cables and reports of serious
damage by frost in Argentine. caused a
very substantial opening advance,
which was added to later by the large
export engagements, May closing at
cent advance Corn was firm and SO
40 higher. Oats advanced kc, but pro-
visions dragged and closed at small de-
cllnes.
Wheat started with a bulge OF $50
INC for May, opening trades In that
option ranging from 90kd9OAc and a
somewhat excited demand existing at
those figures. The cause was the
wholly unexpected jump at Liverpool,
where advances Of from 1i5c TO 2lac
per bushel were recorded before trad
Ing commenced here. This It was soon
explained, was due to a Busnos Ayres
dispatch 10 the London Times, stating
that the wheat aud lax crops OF Ar
gentlne had been severely injured by
frost. Great efforts were made to dis
credit the frost news. but II was ton
well authenticated to he dlsbelieved
The only possible uncertainty connect
ed with the matter was as to the eN-
tent OF the damage and It gave a scare
TO short sellers The opening advance
OF course attracted selling orders from
people who considered che rise too
sharp and sudden to be maintained.
Such selling kept the price from get
ting higher than II opened for about an
hour, but all the efforts of the heavy
shorts who refused to buy on the
bulge. but done nothing to help depress
IT, except In the way OF talking It down.
could not accomplish more than &c re-
action from the highest point OF the
opening range. The market sailed
down very gradually 10 9OHc, then
back and forth between that price aud
90%c, but by noon was selling around
ole In some respects the news was
bearIsh, chiefly In connection with do
nestle receipts Chicago had 1Oi cars
inspected into store against forty year
ago. Minneapolis and Duluth got li9O
cars, against al the corresponding day
OF 1896.
The acccptnnccs from abroad Of
wheat offered by cable yesterday and
the day before, resulted In the largest
sales effected any similar previous time
this season, That came to the strength
cning Of the market at such times as
thc bellttllng or the Argentine news was
having some effect
Before the day was done II was re-.
ported that 1870 boat loads. 100000
bushels, had been sold for export The
market ruled strong near the close
MAY closing Mt 0Jhd9lc.t
Corn was very firm, particularly 80
for December, but trade NJ no time was
very active. The market was helped
principally nv the M turn In wheat
Gables were up hGld Receipts were
light. 900 cars There was quite free re-
nll2lnE following the opening advance
and the market casCd IN q llttlc under
H. The close however was strong At
substantially top prices shorts led the
buying NAV ranged from 70Nc TO 30Ac,
closing n 2ONc
oats were unusually active The
opening was strong, following wheat
aud corn nnd good buying by commits
sion houses advanced prices &c The
ndvancc was somewhat curtnllcd by
persistent selling ON tho bulge Cash
business continued urgent ReeeiMs
were 2l7 cars Honhonrd clcirnncrg
amounted 10 10000 bushels May rang
ed from 22Rc To 2lMc; closed Al Pee
Provisions we've disappointment,
scarcely maintaining themselves In
spite NJ tho wheat strength and tho
practical ending N the yellow fever
scare. prlccA NJ the opening were
pllrhtlv higher, hut this was soon lost
pullnoF8 mud scattered liquidation were
the features Ward nrlocf were WenS
ana lower At the close January pork
was 2M0jc lower OF u aj@s SIN. Jan.