The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-02-18

!. CHICAGo-For few minutes follow
Ing the opening In wheat to-day the
market was In q state of excitement sell
dom witnessed. May sold up In that
time to 81 O6h or SIC higher than yes
terday's close, but It dropped at once
and though showing extreme nervous
ness at times. the market closed quiet
with the moderate gain Of &c. War
news apparently did not cut much fig
ure. 1t was q matter OF shorts getting
out and longs taking profits. Realizing
in other markets was heavier than the
demand could take care OF and small
declines resulted. Corn closed &c lower.
oats &c lower and provisions unchanged
to 2l9 lower
The ructlon in wheat that threw the
pit Into fits in the last hour Of yester-
days session was continued on the curb
afterwards and was renewed to-day be-
fore the regular session commenced.
First curb prices were 1Kc higher at
81 0ih and during the half hour that fol-
lowed Il sold as high as 81 OH. The
regular opening was us wild a one as has
been witnessed In months. A perfect
howl went up from shorts who in their
eagerness to cover their lines, bid all. the
few seconds after some Of the more anx-
ious ones bid 81 06is. That proved to be
the highest point Of the day. Thousands
OF bushels were dumped on the market
by longs. their lines and more DISPOSE
ton TO realize being shown than at any
tlme since the recent advance COM
menced., The consequence was the price
broke with bewildering rapidly, getting
down in less than five minutes to
81 03E. Then It rebounded again, but
with less force behind It, to 81 Oi%. The
market fuctuated rapidly for q time,
but with every rally there was a
renewed reahzinS and the mar
ket generally became more set
tied. Though the dlsquieting news
from Havana may have cut some figure
in the jump, It was n minor factor and
was little heard of. It was apparently a
repetition of yesterdays scare among
shorts over the Letter deal and every
body was on the alert TO see what he
would do to-day But Letters brokers
were not much IN evidence and the fact
that there was plenty Of wheat for sale
at around 81 05 served to keep the mar
ket within bounds. About II o'clock
selling became quite heavy and the low
point, 81 %, was reached. Cuhady and
others were credited with realizing on
lines showing heavy profits and COM
mission houses had heavy selling orders.
This decline was followed by reaction
TO 81 OAK, the price about noon. For
the rest OF the session prices rather tend
ed toward q lower level. Foreign mar
kets were strong and showed good clos
ing advances.
Northwest receipts were rather small
at $50 cars. compared with 415 last
week and 1872 year ago. Chicago re-
ce!Ved 62 cars, ten Of contract grade.
Atlantic port clearances of wheat and
flour equalled $4,000 bushels. Primary
markets, western receipts were 49,, 900
bushels. against 2c2,000 bushels year
ago. The closing price for May was
81 OiN. There was heavy business in
July, but that option did not show the
excitement May did. July opened re
1ac higher at 90G9lH. and dropped at
once to soc. That was the range OF
prices, July closing at 90c bid.
In view OF the wheat strength corn
did not act strong and the volume OF
trading was smaller. The market OPEN
ed higher IN sympathy with wheat, but
declined Immediately and acted rather
weak thereafter There was general
profit taking, more corn being offered
than the demand could absorb. There
was also some new short selling by pro-
fessionals. May ranged from 3l7sc to
3OSc and closed &c lower at 3O7sG3lc,
Oats acted rather top heavy. Trading
was not so large as of late and prices
were unsettled. The opening was strong
with wheat, but the advance brought
out profit taking and also induced some
short" selling and prices declined. For
the rest OF the session, prices fluctuated
narrowly though that inclination 10 real
lie was apparent on every rally. May
ranged from 27sso to 27c and closed nc
lower at 27hc.
There was a good trade In provisions.
Thcre was profit taking early. This and
lower hog markets caused some decline,
On the break commission houses bought
freely. packers also taking some of the
offerings. Later prices settled back con-
s!derably on realizing. the market clos
Ing steady. Packers "scalped" the mar.
ket, selling on hard spots and supporting
the market on declines At the close
May pork was 2i&c lower at S11 07ls;
May lard unchanged at S. 17Is and May
ribs 2Hc lower at IS %.
Estimated receipts for Friday:
Wheat 20 cars; corn 325 cars; oats $50
cars; hogs $4,000 head.
The leading futures ranged as follows:
Articles oncn uI,b o,, c,,.