The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-10-16

CHICAGO, Oct 15.-It was day OF
action and reaction in wheat, with the
bulls having the better OF 1t In the end
to the extent OF &c advance, A fea-
ture Of the days news was the renewal
Of drought reports, which, coming so
Iate in the season, had no small in
fuenCe In the closing strength Gov
ering by shorts caused advances Of
about nc in corn and oats. Provisions
were duh but firm and closed 5q12hc
higher.
Wheat opened firm, December start
Ing at from 9O%c to 9O7sc, as compared
with yesterdays closing price of 5000
909sc with buyers decidedly In the ma
jority. Liverpool opened at n decline
OF only laa&c. New York's report that
the export engagements there yester-
day had aggregated 10000 bushels and
at outports had reached 2iS, 600 bushels
was rather unexpected. as Yesterdays
reports indicated falling off from the
phenomenal figures Of the day before.
Drought damage reports, especially
from Kansas, were once more in evil
dence. Hot winds were reported
throughout the southwest, accompanied
by dust storms. stopping seeding en-
tirely. These reports served to keep
the market firm during the early morn
NnE on narrow amount Of trading,
and the market within an hour from
the opening had advanced to 9fAc for
December. The northwest receipts were
liberal at 1912 cars, against 1925
the corresponding day last week and
$50 cacs last year, Chicago receipts
were 1872 cars.
a prominent northwest milling man
was quoted as saying that he did not
believe there was enough wheat left
in the northwest to keep the mills run
ming the remainder OF the year II IS
estimated that Duluth stocks during the
coming week have Increased 100000
bushels and Minneapolis I, 100000 bush
els This increase OF 100000 bushels
at the northwest points Is expected TO
be largely Offset by good decreases here
and at the seaboard, and 1t Is esti-
mated that the visible supply increase
for the week viii not exceed l.7j0,0OO
bushels, against 100000 bushels for the
corresponding week last year. Primary
market receipts for the day were 1908
0OO against 100000 bushels for the
corresponding day last year. Extreme
dullness prevailed In wheat during the
greater part OF the forenoon. In this
interim the trade became quite bear
ish being largely influenced by the alb
sence of general buying on the part of
the public Directly before noon there
was a sharp and sudden break, Decom-
Der dropping from gOh69Oac, to which
price 1t had gradually declined, TO 900
90hc, The rumor was current that the
Modern Miller which issued partic-
ularly bullish summary Of the situation
last week, had greatly modified It's
Views since the recent rains. This was
given as one Of the reasons Of the sud
den slump. When the report came out
It's purport was seen to be fully as bull
ish as week ago, and the reaction was
sharp and sudden. New York reported
export engagements OF 30 boat loads,
with more working. The days clear
ances were equal to $4,000 bushels. De-
cembof was bringing 9l&G0iIaC at the
close.
Corn started weak at hdMc decline
because OF the decline IN Liverpool and
the large local rcceipts-9OO cars The
weakness was extremely short lived
as thc,lnrgc shorts began buying freely
and It was evident that the market had
been largely oYcrsold during yoslcr-
days decline. A larae amount OF
changing Of December contracts To
May was done during the day Reports
were current Of large cash sales at yer.
lordny's decline, shorts were active
bidders all dOV and the market was
Orm to the end. Cnbtcs were hMtt |
lower December ranged from &c to
2Gilc and closed nc higher NJ 2GNc.
The market for outs In its essential
features was very similar to corn. II
started weak through sympathy with
that mnrlsol. bui buying by shorts ana
the nrmucss Of the cash market turned |
the market In the opposite direction |
aud kept II that way Trading ut no
time was heavy receipts being 900 cars
Cash business amounted to 100000 bush |
els. December ranged from lSAGlSMc |
to tshc, CLOSING hm&c higher at 1890 |
iSHC
IN provisions continued good huvlng
by brpliciA representing iHgliAh houses
made n Hltunu market early and was
q feature throughout DulRdc ~ thIR
huglng thoro was little NJ interest to
the market Hog fecolplH were less than
expected and gard prices higher Thcro
was n little December ceiling by local
packets, AZ the close December pork