Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-05-09
MINING STOCKS.
PRODUCE.

vanced to $1.T0 per bushel On the
Board Of Trade to-day 1t closed yes
terday worth $l.49A July added 53sc
tC its value. The week closed with
the most exciting session in years.
May, or cash wheat after opening at
$3.50, climbed steadily to S1T0, five
cents at a jump, and closed at s167,
a net advance for the week OF exactly
80 cents per bushel,
Joseph Letter has apparently proven
himself complete master Of the situa-
ton, with entire control OF the avail
able wheat supply and shorts at his
mercy. Even those who had sold July
option expecting to fill contracts with
wheat from the new crop. were driven
to cover to-day by the continued
strength abroad. Coarse grains were
dull but strong. Corn gained 1c; cats
nc Provisions ruled dull pork los
ing five cents. Lard and ribs gained
212c each.
Another surprising advance at Liv-
erpOol to-day started the wheat market
here strong and drove from the minds
of local scalpers for the time being all
thought of the big reaction they were
calculating upon with great confidence
the day before. July, which closed
yesterday at $101, opened with buy
ers at from s10214 tc s1.0S, and in the
course Of forty minutes it sold up to
S1.04b without material setback. Sep
TENDER in the same time rose from
around S4Lc and SIC, where it hung
during the first twenty minutes, to
S534c, its closing price yesterday hav-
ing been S37sc. May started only Ne
high, or at $3.50. The next short to
come in, however, did it at S1.55. The
advance in wheat at Liverpool was
equal TO 312c a bushel and July sc.
The quotations perennial at Liverpool
showed the price OF May wheat to be
bringing the equivalent of $1.54&, July
S1.481s, September S1.141a and Deem
Der S1031A Primary market receipts
were 415 Geo bushels compared with
319, 900 bushels a year ago Local re-
ceipts for the day were PA cars. Min
neapolis and Duluth reported 81 cars,
compared with 495 the Saturday before,
and 2S5 the corresponding day Of 1897.
Frantic efforts to buy the golden cereal
began again after a brief rest at S1.05
for July and $1.55 for May. The mar
ket got at last where bearish reports
no longer influenced it. 1t became a
mere matter of disappearing margins
with shorts and aggressive confidence
with longs July rushed up from
around $105 to $1.G6, dropped in two
minutes back to $1.o51a, and five min
utes after it was bringing $1.061a. In
the last fifteen minutes Of the session
it surgad up and down in great swell
ing pillows of excited trading between
Sl06 and $1.06s4, the closing bell tap
cutting it short when S1.063s was the
current price. May, after reaching
$170, closed at S165. an advance OF
17Ac for the day The net gain in
July was 33sc. September rose to
S71ac and closed at STU, or $3.50 net
advance.
Letter reported cash sales Of 10000
bushels No / northern to Ohio millers.
The trade in corn was not much
more active than usual, but it sympa-
thized in a measure with wheat The
DAVIS advances were 1c bushel in
Nav corn and 7sc in July. heavy
business was reported done by snip
pers and the country acceptances were
only moderate: but the principal source
of the strength came from the action
of the wheat market. May opened at
from 337sc TO 34c, and gradually rose
10 3411c. which was being bid at the
close. July from 34Ac TO 3fssc at the
beginning. got up TO 35c near the end,
and closed with sellers at 347s W35c.
Liverpool quoted spot corn Id higher.
Local receipts were 632 cars.
Oats ruled firm on light trade May
longs sold on hard spots. Seaboard
clearances were 100000 bushels: local
receipts 33S cars. Despite the liquida-
ton. May showed the best gain. &c
for the day July opened sc higher
at 267s and advanced ITO &c at the
close, net gain Of &c.
Provisions had the Liverpool mar
ket to contend with in addition to
heavy receipts of hogs, and under the
double load prices were maintained
with difficulty In the end July pork
was sc lower for the day. lard and ribs
each pic higher Liverpool quoted
a decline in cut meats OF Cd for 112
mounds for one kind and Is Sd for
another. Hams were likewise Is Cd
lower The receipts of hogs at west
ern packing points We're $4,000 head to-
day. against $4,000 a year ago
Estimated receipts for Monday
Wheat, 200 cars; corn. 625 cars; oats,
325 cars; hogs, $4,000 head.
The leading futures ranged as follows;
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.fyJ. ,-I,Iy 'loc 80