Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-05-10
MINING STOCKS.
PRODUCE.

market since the Franco Russian war
was witnessed in the wheat pit to-day
On the Chicago Board of Trade An
advance of 147s bushel was scored in
the active option, July. The market
reacted only lie from the highest point,
July closing strong at 81 2014. May
rose to 81 Is and finished at the top,
a net gain of Sc. The recent sharp adj
vance in May was insignificant in COM
parison with to-day's bulge in July.
Bids were frequently advanced two or
three cents On the execution Of single
order. A sensational advance in Liver
pool, over II cents for July, started the
Chicago market and after the start
there was apparently no stopping. Corn
advanced &c, oats lie; pork PIC; lard
7c; ribs 21ac
The Liverpool market to-day eX
celled all previous efforts at startling
advances by opening I'd higher for May
and from I'd to Cd up for July, COM
pared with Saturdays closing figures.
That set the Chicago wheat pit into a
roar of nervous excitement at the open
ing. All sorts of prices were paid for
July simultaneously in different parts
of the pit. 1t was impossible for a
few minutes to get an idea of what
price was predominating, but after a
while the opening range, as near as
could be found out, was given at from
81 09$ to 81 1914.
Trading on these limits was enor-
nous for two or three minutes, but
buying orders without limit to price
poured in from outside and the price
leaped upward in great bounds, touch
mo S1 4 n ING Mt Tho mo ,1yo OF
rebounded to 81 11%. Shorts saw that
their only chance to recoup was by
doubling and price was no object Up
shot quotations again, touching 81 16,
ten minutes after the opening. Another
reaction to 81 1872 followed but offer
ings we're greedily absorbed, and the
market gradually settled down around
81 Is. Trading in May began at SC adj
vance. Letter sold a little at 81 Is,
causing a reaction to 81 70, which,
however, was quickly recovered. The
usual statistical figures were utterly dis
regarded. Local receipts were 343 cars
against 9 a year ago. Minneapolis and
Duluth received 42S cars compared with
419 a year ago. The worlds ship
ments were 9,775,C00 bushels last week
India contributing 1.56S,0C0 bushels and
Russia 100000 bushels of TIE total.
The domestic visible decreased only
1856. GOO bushels against 2,550000 bush
els last year. Primary western mar
kets received 62S,C00 bushels, compared
with 1886, 900 bushels the corresponding
day of 1897 The English visible sup
ply increased $4,000 bushels. The
quantity on ocean passage was $4,000
bushels smaller than a week ago. After
a brief rest at 81 Is the buying furore
was renewed The wild scramble Of
European nations for American bread
stuffs appeared to be conclusively
shown by the announcement of a fresh
bid to Letter for 100000 bushels of
red wheat Up to the close he had not
accepted the offer, but reported other
sales of $4,000 bushels to go abroad.
Liverpool market at the close showed
gains Of Sd for spot and 27s G9d for flu
lures. Paris and Antwerp accentuated
the European shortage by advancing SC
each Near the end of the session
offerings became scarcer than ever, and
July rushed up to 81 21A, easing off at
the close to 81 20A. September, which
sold early at soc, was rushed up to
CSC and closed &c net higher at 94Ac.
No failures were reported on change,
but margin calling was sharp. Corn
was active and shorts covered freely
with the strength of wheat &C incentive.
May gained 23sc. July &c. Receipts
were heavy, CTS cars at Chicago and
weather was favorable Seaboard
clearances were S79, 900 bushels. The
visible supply decreased 2,131 900 BUSH
els. July started 1a@1c higher at
35ss to 1878 @36c. advanced to $3.50
37Rc, closing easy at 367s@37c.
Oats were neglected but on moderate
covering advanced about 1c. The Wis
ible supply decreased 1854 600 bushels.
The days clearances were $4,000
bushels; local receipts 422 cars. July
opened nose higher at 27A@3sc, adj
vanced to Csc. closing B@1-16c net
higher at 27%@2Sc.
Provisions did not share to any ex-
tent in the grain excitement Liverpool
was quoted dull at unchanged prices
for meats and lard Western hog re-
ceipts were $1,000 head against $4,000
head last year. Packers sold moderate
ly at an advance. The closing prices
showed advances of 25c in pork; 71ac
in lard and 21sc in ribs.
Estimated receipts for tomorrow:
Wheat, AIS cars; corn. 1.190 cars; oats,
625 cars; hogs, $4,000 head.
Tho Jaodipc Futures rapCed sc follows