Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-11-01
MINING STOCKS
PRODUCE.

Chicago, October 31.-Dealers in pho
visions to-day had a sensation in a
squeeze Of shorts in October ribs.
Though few in number the shorts were
crowded badly, as evidenced by an adj
vance of S1.45 above Saturdays clos
ing price. The final figures showed
net advance of CSC, January pork, lard
and ribs each advanced 212c.
Wheat also closed &c higher on a
renewal of the recent war scare. Corn
advanced 1s@Ac. Oats left off shade
higher.
The early information about wheat
from foreign sources was quite bear
ish, and domestic receipts, so far as
known up to the time of the opening OF
the market here, were sufficiently lib
eral tc be a good second to the foreign
lead. AS a result, the trading in De-
cember commenced very weak and at
figures considerably below the put
price. The market became exceedingly
dull after the preliminary drop, and
kept sluggishly around the opening
price for over an hour.
At the end of that time a report
was circulated that English consuls
had declined 20 per cent. and that set
the war fever raging again. For about
twenty minutes trade became active
and even somewhat excited, and the
| price forged ahead until December
showed a gain of 3s01Mc over the
opening decline. The advance did not
hold, however, as the amount of the
decline in consols was soon discovered
to have been exaggerated. The days
statistical information was fairly we'll
! divided between bullish and bearish.
; Chicago received 329 cars, compared
with 1871 the corresponding day last
year. while Minneapolis and Duluth re-
| ceipts were 1871 carloads against 1,451
| 2 week ego and 1856 cars a year ago.
Worlds shipments were S,457 600 and
| the quantity on ocean passage increased
| $3.50 600 against 100000 bushels in
crease the year before. The receipts
| at primary western ports were heavy,
| 2.273 900 bushels compared with 1851
| 900 last year Clearances from Allan
tic seaboard We're equal in what and
| -four to 1,0O6 900 bushels. Liverpool
recovered nearly all of its early de-
cline and New York reported so boat
! loads taken for export. while $4,000
bushels were sold here for all rail ship
ment to the seaboard. This resulted
in renewed buying by shorts and the
|
| the high point for the day December
opened 5SM7sc lower at 65H @651ac,
rose to 657kc reacted to 66Hc, then re-
covered to 66aic sellers, the closing
! figure
decline at Liverpool and ,goq6
weather, together .wttfder put price
wheat st" considerable buying against
privileges. which gave the market
firmer tendency The strength became
more pronounced as the session adj
vanced. good purchases by shippers
and active speculative buying being
awakened by sharp drop in both En-
glieh and French securities.
Receipts were 365 cars. December
opened sc down at 50, rose rapidly
to 325s 03234c and closed at 32R 032%c
buyers.
Oats started out rather easy with
the other grains but few outstanding
ports were disposed to cover and as
no offerings were forthcoming they
were compelled to build up the price
in order to accomplish their ends.
Poceipts were 305 cars May start
ed Nc lower at 24%c, advanced to
24% @247sc, then reacted to 24%@
245sc, the closing price.
But for squeeze in October ribs
provisions would have been lifeless,
and as it was the fight over the termi-
nation Of the rib deal affected so few
people that il did not produce the
usual excitement that attends q cor
ner on the day of its climax. The |
longs in the rib deal were houses with |
English connections while the shorts J
col TO ln nf
most prominent packers. The result |
of the matter was that October ribs |
that closed Saturday at S. 80, made 2 |
very substantial rise of 81 45 per 100 |
lbs. and closed with q net gain of |
) cents. Private settlements on the |
deal during the session We're said to |
have been made on about 100000 |
lbs. The rest of the market ruled dull |
thrarrhcrt
There is said to be corner in Octo
Der ribs with English houses in cen
trol. The price at the close Saturday
was $500, and to-day the price reached |
S5.S71b before a single trade could be
made. After that the price jumped |
upward 1oG15c on every transaction |
until it finally reached s675 bid with |
not over 100000 pounds traded in he
tween Sc end the top prices TIE
Anglo-American company bid the price
up and it is claimed that Armour anu |
Cudahy have been caught short.
January pork opened 2lbc higher at
SO 05. declined to SO 0219. advanced
to 50 O7lhGs9 10. the reacted to So 05
sellers at the close.
The fluctuations in lard and Ianu-
arv ribs were OF the narrowest kind.
Estimated receipts for Tuesday:
Wheat. $50 cars; Corn $50 cars:
Oats. $50 cars; Hogs, $4,000 head.