The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-02-10

CH1CAGO-After ruling strong until
within fifteen minutes OF the close,
wheat took sudden and inglorious 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
fraction besides, the market closing
AI5sc lower. Corn and oats were dull
and active by turns, but closed with
very little change in prices. Provisions
again advanced sharply closing prices
showing 59l7i5c gains.
The early market for wheat was rath-
er colorless. May opened at shade
under yesterdays closing prices. first
trades being made at 9GlsI9GAc, but the
market was steady and held for while
at those figures. Then it slowly adj
vanced and ruled strong for fully an
hour, May In the meantime getting up
to S6SsG96Nc. The early news, If any
thing, favored 4 decline, but as usual
traders were apparently afraid 10 put
out any lines and as there was but lit
tie demand outside Of the covering OF
one fairly large line, the market was
exceptionally dull for some time. Early
Liverpool cables showed about sd ad-
vance. hardly full response TO yes
terday's advance here. Northwest re-
ceipts were liberal, Minneapolis and
Duluth reaching 3iS cars, against 264
cars last week, and 21S a year ago.
Chicago receipts were CT cars, four OF
this number being contract. Yesterdays
export engagements were finally put at
fltty-four boat sloads, and O continue
ton OF the demand was looked for By
some at the opening, but on the con-
trary New York reported cables bring
ing no buying 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 cir
culation that a sharp upturn was part
of the Letter programme for the session
aud this undoubtedly kept many would
be sellers aloof. Strength which devel-
oped In the coarse grain and provision
market had some effect on the ad-
vance. Afr rising to 96tsG96Xc, the
market settled back to about the level
OF the opening prices, then gradually
gathered strength with the>trade much
larger and more general. Later news
from the seaboard was much more en-
couraging. Baltimore reported 4 large
cargo sold to France and New York
finally put the days export at twenty
five loads. At 1880 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 dag. There it stayed for few min
utes, then suddenly the market collap-
sed. During the advance there had
This was easily taken care of for q
time. but finally the crowd nguratlvely
speaking turned tail and selling orders
came IN flood, breaking the market In
the last fifteen minutes Of the session
from 97c to 35;sG9Gc. The heavy l!Gui-
dalton was credited by some 10 Leite:
or Cudahy and by others to large St.
Louis interests. From whatever source
It was, 1t had the effect OF turning
atrong market into weak one In n
very short time. May closed weak ana
nervous ut o0MG9Gc. Corn ruled modec-
atcly active and firm most OF the sess-
lon, the market being especially active
toward the close A good export de-
mand was reported, This and the
strength Of provisions kept prices well
above yesterdays figure. TIL near the
close when the slump In wheat caused
free realizing, and most OF the advance
was lost May ranged from 29Ac to
MDo9Ac and closed shade higher at
29h G29Sc
Oats were moderately active through
out. but did not develop much strength
until the session was well advanced
when the strength OF other markets and
some covering by shorts caused fair
advance. This was maintained unit!
near the close, when the market broke
In common with wheat and corn. The
high point OF to-day was The best yet
reached on the crop. May ranged from
Csc to 24%c, and closed shade lower at
24% I24Mc.
The market for provisions was very
active and new high records were made
for the year. Opening trades were at
slight advance and under free pur-
chases prices went up sharply. Later
prices settled back on realiz!ng, but to-
ward the close the demand became very
active again and the market rallied
closing strong. Packers were good buy
e:s on. soft spots and shorts covered
freely. The advance was In spite OF
large hog receipts. At the close Mag
pork was 17Hc higher at $40 GO; May
lard 6c higher at St 10, and May ribs
7hc higher at IS 20.
4 Estimated receipts Thursday: s& 81
O. cars: corn, COO cars; oats,
go cars; hogs 10000 head.
(. Cash quota lions were Us follows: 5s,,.f&
Flour quiet.
Wheat-No. 2 spring alc; No. . spring
9la9ihc;j No. 2 rod 9S@oShc. 81