Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-10-21
MINING STOCKS.
PRODUCE.

Chicago, October 20.-Rumors of a
forthcoming European war and enor-
nous export engagements to-day caus-
ed a decided rally in wheat prices.
December closed with a gain of PA @
2ssc. Corn advanced %@1c. Oats i'm
proved 1a@Bc. Pork and lard left off
at an advance of 121ac each and ribs
rose 71a@1Oc.
An old-fashioned European war scare
with all the trimmings was the con-
trolling influence in wheat at the OPEN
ing. Before business started here re-
ports from the other side were to the
effect that grain markets were excited
\ and up equal to51a@6Ac, and English
consols 3s@1ac lower In addition to
that there were reports from New York
of an enormous export engagements of
wheat by Europe Then came lot of
supplemented news Of similar en-
cOuraging nature from the interior.
Minneapolis told of sales Of 10000 bbls
of -four yesterday of which third was
for export, and there were advices Of
eight inches of snow in portios of the
Northwest, which had been relied upon
to supply good portion of the coming
hands. An enormous business was
transacted here. For instance, one
firm that had bought calls Tuesday
might on fully 100000 bushels or
wheat were credited with having sold
100000 bushels of it during the first
hour. The demand was such that the
grain was readily absorbed, and the
price after a slight dip on some profit
taking advanced to higher figure than
it had yet reached. By noon, Decem-
Der, which had started 2Ac higher than
Tuesdays close at 675s 068c, had ad-
vanced to 6S1a, and May kept about lie
higher Receipts here were only 39S
cars, and the total arrivals at primary
markets for two days were 2,652,OO0
bushels against 1904, 900 for one day
a year ago. Actual export clearinga
were 652000 bushels. The highest
prices of the day were reached when
December rose to 6S1a @685sc, due to
the covering of a large line of wheat
by local speculator. At it's conclus-
ion the market sagged back to about
the opening figure, December closing
at CSC sellers.
The foreign situation was reflected
in corn which started at sharp ad-
vance The cable acceptancSS were
enormous and there were sales from
here to the seaboard direct of 1,500,-
600 bushels. That invited active COW
ering by shorts and the heavy sales OF
cash grain sent the elevator people in
to the pit to buy futures. There was
generous realizing Of profits later on
long property, but the demand was
more than sufficient to absorb the Offer
ings and the advance was well main
tanned. The wet weather was also a
bullish influence early, but predictions
of a drop in the temperature to-mor-
row finally acted as an offset.
Receipts were 1872 cars.
December opened solo higher at
323s @32%c, and advanced to 32A q
327sc, then declined to 323sc, which
was the closing price.
The speculative considerations which
moved the other grain was shared in
eats. There was an excellent demand
for cash and prices ruled &c higher.
The rally was limited, however, by
free realizing of holders and by coun-
try selling. The buying generally came
from shippers against export SALTS
May begun A@5sc up at 241S@249sc,
advanced to 24%c and reacted to 2472c
at the close.
The bullish sentiment in provisions
was stimulated by the developments in
the general speculative situation IN
food supplies. Shorts were forced to
cover and they secured most OF the
property from firms with English and
continental connections. Packers sold
literally on the advance, which tend
ed to check the upward tendency. Jan
uary pork opened 15c higher at 50 30;
declined to SO 271a; advanced to 50 40
then reacted to 50 321a buyers at the
close. january lard began at 712d
1Oc up at SIS 12h@s5 10; rose to S. &c
and closed at S. 171s. January ribs
started 5@71ac higher at 81 50; solo
off to 81 so, then advanced to 81 S11s
the Giving price.
Wheat 175 cars; Corn AGO cars; Oats
$50 cars; Hogs $4,000 head.
The leading futures ranged as follows: