The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-02-01

CHICAGo-Thls was another day OF
reaction In all the grain and provision
markets. May wheat declined &c under
the influence OF weak Liverpool cables,
bcarlsh statistical news and q slump OF
over &c In the price Of January. Corn
was weak with liberal liquidation, and
closed &c lower. Oats declined h9kc
and provisions 2it@1oc.
In wheat. conditions were more favor
able for a decline at the opening than
for two weeks. Outside OF the depres-
sion caused by the unloading Of many
heavy holders on last weeks bulge the
influence OF which was still apparent,
news decidedly favored the decline
which took place. May, which closed
Saturday at 96Hc. opened to-day at
from 95&c to 96c. For moment or two
the price recovered to 96Ac. which 1t de-
cllned slowly 10 955sc. There was not
much selling pressure, but on the other
hand there was an almost total lack Of
demand, and the, market sank from Its
own weight. Liverpool was very weak
and this had more influence than any
thing else, l:3O p. N. quotations from
that market showing a decline of 1ikd,
and London was reported equally weak.
Some reason was shown for this In the
larger estimated shipments by Argen-
tine and favorable harvesting reports
from that country. Worlds shipments
were large, 7,27S,000 bushels. Russia
showing good Increase, and the In
crease on passage was reported at l.
100000 bushels. The visible supply re-
port. showing decrease OF but ISL 900
bushels, was also disappointment.
Minneapolis and Duluth receipts
amounted to 4S7 cars, against 425 last
week and 421 year ago. Chicago re-
ceipts were 60 cars, OF which II were
contract quality. Options were steadled
about noon by the liberal clearances,
about $4,000 bushels, May advancing to
95Ac, but after that the market ruled
heavy. Late In the session some selling
pressure was put on January and the
price Of that delivery. which had been
nominally 81 0Sis. dropped very quickly
TO 81 % on the selling of not more than
$1,000 bushels. This weakness was re-
Elected in May. Increased liquidation fol-
lowing the January decline, and May
soon sold off to SAC. 1t was bringing
sac at the close. July sold as high as
ootsc anu as low US ooc, anu CLOSED at
S5GS5lsc. January closed at 81 OF.
Corn was weak at the opening and re-
malned SO throughout Considerable
long corn was offered during the morn
Ing, presumably on account of increased
country offerings, and this and the
weakness OF wheat caused a decline
Prices sank still further In the after
noon on heavy estimated receipts to-
morrow, the market closing weak at The
bottom. Trade was fairly active
throughout. May ranged from 2?ls "a
e9iic to 2SStc, and closed &c lower at
2S&c.
Oats, though showing some sympa-
thetic weakness with wheat and corn,
did not decline much. Buying was
quite active by traders who unloaded
last week, which sustained prices. The
market weakened toward the close on
the liberal estimated receipts for to-
morrow. May ranged from 24kc to
23Gc, and closed HGSc lower at e3Tc.
Not much interest was shown in the
market for provisions. Prices were
steady at the immediate opening. due
10 firm yard prices. but the weakness
OF the grain markets and realizing by
some OF the smaller holders caused n
gradual decline. The market closed
easy. May pork was 10c lower at 50 90.
May lard SC lower at 81 So and May ribs
2lsc lower at 81 80.
Estimated receipts Tuesday: Wheat
100 cars; corn 800 cars; oats $50 cars:
hogs $1,000 head.
The leading futures ranged as foIIows.