Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-02-10
PRODUCE.

Chicago, February 9.-After ruling
strong until within fifteen minutes of
the close, wheat took a sudden and in
glorious fall. Unloading credited by
some to Cudahy and Letter, and by
others to st. Louis holders, started the
market down and resulted in loss of
&c advance and a fraction besides, the
market closing M@3sc lower. Corn
and oats were dull and active by turns,
but closed with very little change in
prices. Provisions again advanced
sharply, prices showing 5@171ac gains.
The early market for wheat was
rather colorless May opened at q
shade under yesterdays closing prices,
first trades being made at 9615@Ac,
but the market was steady and held
for awhile at these figures Then it
slowly advanced and ruled strong for
fully an hour, May in the meantime
getting up to 9656@Mc. The early
news, if anything, favored a decline,
but as usual traders were apparently
afraid to put cut any lines, and as
there was but little demand outside of
the covering of one fairly large line,
the market was exceptionally dull for
some time. Early Liverpool cables
showed about sd advance, hardly
full response to yesterdays advance
here. Northwest receipts were liber-
al. Minneapolis and Duluth reaching
348 cars, against 2G4 cars last week,
and 21S a year ago. Chicago receipts
were 67 cars, four of this number be-
ing contract. Yesterdays export en-
gagement was finally put at "a boat
loads, and a continuation of the de-
mand was looked for by some at the
opening, but on the contrary New
York reported cables bringing no buy
ing orders and adding that Argentine
offerings were expected to increase
shortly. This news, however, had
hardly any effect on the market. There
was well defined rumor in circula-
ton that sharp upturn was part of
the Letter programme for the session,
and this undoubtedly kept many
wouldbe sellers aloof. Strength
which developed in the coarse grain
and provision market had some effect
on the advance. After rising to 963s
034c, the market settled back to about
the level of the opening prices, then
gradually gathered strength with the
trade much larger and more genral.
Later news from the seaboard was
much more encouraging. Baltimore
reported d large cargo sold to France
and New York finally put the days
EXPORT at % loads. AT y: 80 p. m.
there was an urgent demand from all
over the pit and half an hour from
the close May had reached SIC, the
highest point of the day. There it
STAYED for a few minutes, then sud-
denly the market collapsed. During
tbe advance there had been heavy
selling from some source. This was
easily taken care of for a time, but
finally the crowd, figuratively speak
ing turned tale and selling orders
came in a food, breaking the market
in the last fifteen minutes Of the
session from 97c to S57s 096c- The
heavy liquidation was credited by some
to Letter or Cudahy and by others to
large St. Louis interests. From what
over source it Was it had the effect
of turning a strong market into
weak one in a very short time May
closed weak and nervous at 9o7s 096c.
Corn ruled moderately active and
firm most of the session, the market
being especially active toward the
close. A good export demand was re-
ported. This and the strength OF pro-
visions kept prices well above yester-
DAYS figure till near the close, when
the slump in wheat caused free real
izing and most of the advance was
lost. May ranged from 2912c to 291s
az. and closed a shade higher at
29A @3sc.
Oats were moderately active
throughout, but did not develop much
strength until the session was well adj
vanced, when the strength OF other
markets and some covering by shorts