Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-04-29
MINING STOCKS.
PRODUCE.

Chicago, april 2S.-Induenced by
sensational advances at English grain
centres. wheat to-day on change sold
SIC above yesterdays closing prices,
But heavy realizing from beginning to
end of the session caused a reaction in
all quotations and the closing was as
relatively weak as the opening was
strong. July wheat closed 3s0% C
higher, May INC higher, corn and oats
gained B@4c. Provisions uttered a
decline of 71a@15c on packers sell
ing. Traders in wheat had an exciting
time during the first hour to-day on
account of the violent advance at Liver
pool. but there was an evident indis-
position on the part of many to allow
the excitement abroad to unhinge their
own judgment at home. A quite gener-
al impression prevailed among traders
that foreigners were becoming hysbter-
ical over the supposition that Spain
may interfere with the export move
ment Of American products. But an
other portion of the trade interprets
the wild advance abroad to the sudden
discovery by foreigners that there Is
not enough wheat and flour available
anywhere to keep them supplied until
the next harvest. The reasonings of
those two factions here caused the mar
ket to fiuctuate violently until about
the middle of the session. when the
bears appeared to be on top.
The advance of S41CAc for July
and May at Liverpool and smaller rises
at Paris and Antwerp were said to be
the result of American covering but eX-
porters sold several cargoes of No
Northern to Liverpool at 81 "A and
private cablegrams said English mill
ers were bidding excitedly for wheat.
Chicago received 129 cars to-day,
against four last year. Minneapolis
and Duluth reported 1913 cars. com
pared with $50 year ago. Atlantic
ports cleared .SS,000 bushels wheat
and -four
July, which started 21ad3Ac higher
at 9712 @9Sc. declined rapidly to gee,
rallying just as quickly to 971sc This
range was covered several times.
When July was selling around 96c, near
the close, a private cablegram from
Argentine reported an increase in the
estimated wheat yield OF that country
of forty million bushels. 1t caused
enough selling to break July to Csc. the
low point of the day but a quick rally
to 951ac followed. July closed at the
last named figure, net gain CT 5s@ sc
May sold between s1.21 and s1.24,
closing / &c net higher at sL121a.
Corn started strong with Liverpool,
which closed 1bG2d higher. General
realizing offset the mass of bullish in
f1uences and after advancing i sc the
market weakened and closed at the
bottom. Crop was rather unfavorable.
Aggregate sales of about 1,250,0O
bushels were made for direct export
and eastern shipments. Taking in the
hedges On this amount caused mo-
mentary steadiness. Atlantic clear
ances amounted to $50. 200 bushels.
July opened 5sfb11sc higher at S5A0
sac at the end, net gain of sc.
Oats were quiet but firm on export
sales of 100000 bushels. Covering of
this line closed May at the top, net
gain of 5sc. Local receipts were 300
cars. July opened Sc higher at 255sc,
and closed 1sc net higher at 251.c.
Provisions started fairly strong but
declined and closed at the bottom on
free selling by packers. Foreigners
appeared indifferent and small declines
abroad were reported. Liberal hog
receipts are having a btarish effect
and packers are more active than for
some time past July pork ranged
125@11.S0, closing 15c net lower at
s11.32. July lard sold from $3.50 to
s5.77. closing T1ac net lower at $3.50.
July ribs ranged from s5.47 to 1856.
closing at s5.47G5.5o. net loss OF
71ac.
Estimated receipts for tomorrow: