The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-06-22

CHIcAGO-Confirna of the re-
ported settlement Of the cash wheat pool
| caused sharp rally near the finish in
| the wheat pit to-day. July closed with
an advance OF 2AG2iac and September
| 1h9lSc Corn left on &c lower and
oats lost &c. In provisions pork lost loo,
lard SC and ribs TIC.
There were several causes which COM
bined to give wheat strength at the
start, the cables were decidedly strong
er, Liverpool prices ranging from I'D
TO 2Ed per bushcl higher. with the CONT
mental markets also doing better An
other reason for strength was found In
the bad news from France, where the
crop was said to have been seriously
hurt by rust. According 10 authentic
reports, the yield there will be 10 TO 20
per cent less than anticipated. Adv!ces
were also received from many sections In
Missouri, Kansas and Texae, where the
grain Is ripe, reporting serious less from
rains, and these too, had good inliu-
ence early in the day. Shorts covered
freely and there was some general buy
ing for the long account under which
prices advanced sharply.
The heavy profit taking and short sell
Ing which followed this led to sharp
reaction and September, which started
at 6SKc to 6Sasc. fell off to 6GAGGiSc.
and July, which sold at the start at 73IGc,
declined to TIC. December lost nc.
In the last half Of the session the mar
ket turned exceedingly strong on the
confirmation of the report that the deal
TO pool the Peavey und Pillbury wheat
along with the Letter holdings and TO
have Armour handle K all, had been
Ea1 Il,
still further claims Of crop damage from
St. Louis. This bullish news brought
the shorts out in force and the decline
was more than recovered.
The receipts were small and exports
heavy. Chicago got sixteen cars:
Minneapolis and Duluth G2 cars against
1873 n year ago. The Atlantic port clear
ances Of wheat and -four were equal 10
$4,000 bushels. The advance In Paris
amounted to 4Isc q hushel In June wheat
and 3hc for MISUNDERSTANDING. Liver
pool closed at the following net gains:
July 2Ad; September Nd and Decem-
her md July wheat In Chicago opened
10lkc higher at 73@7Shc, declined TO
7lisc. rose to T4&c. then settled back TO
7fk174ac at the close. September
wheat started NC UP at GSA GGSBc, sold
down to G6S dlGG7c, tirmcd up to G9Hc.
then declined TO G9c bid. the closing llg-
ure.
After strong opening in corn the
market became quite weak, due to profit
taking. Later the loss was barely re-
covered on the final rally In wheat.
July opened nc higher At 32M@32Mc.
declined to 32,Sc; rose to 329sc bid, the
closing price.
I Oats followed corn. July began un-
changed at 2ihc, fell of to 23Ac. then
iirmed up to PIC at the close.
The appearance Of two new cases OF
yellow fever In Mississippi together with
the break In corn depressed provisions.
July pork opened 10c lower at 50 70. ad-
vanced to 50 77h, then declined, 10 80 65.
the closing figure. July lard started
2Isc down Mt ST 77IA. sold up 10 So so,
then weakened to So 75 at the close.
July ribs began 9Ikc on at Sc 52h and
sold OFF TO ST i7ls, the resting place.
Estimated receipts for tomorrow:
Whcat cars; corn $50 cars; oate 1G5
cars; hogs 10000 head. 81
Cash quotations we're MS follows:
Flour dull and neglected.
Wheat-No. 2 spring G6dlGSc; No. 8
spring G2G79c; No. red Toe.
1. !, .Corn-No. 2. S?AQs2Ac: No. 2 yellow
saAUsSc.