The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-01-20
Letter STILL IN The PIT.
Backed the July Option for a Stiff
Advance
MAY FORCED OFF BY FOREIGNERS
Corn Closed Higher, Oats unchane-
ed and Provisions Arc a
Point Lower.

Chicago. January 1a.--support from the Lei
| ter crowd, which started covering by short.
Monday, started the July option strong TO-
day, closing ssc higher. May. on the con
| trary, was weak, and showed q clear decline
OF hGfisc. Bearish foreign news Influenced
the latter option. Corn was weak carly, but
closed steady Mt a shade better price. Dat,
showed no change Ct che close. Provisions
were irregular. closing 2,ac lower TO 2t4a5c
higher.
Wheat started with some show Of weakness
AS usual. the opening tone was greatly In
nucnced by Liverpool, and the notion OF that
market on this occasion was a disappointment
to the bulls. Liverpool opened hgtNd higher.
but by opening limo here that advance had
nearly all been lost Tho market. however,
was only slightly affected. and after few
minutes hesitation a firm undcrtone was
shown.
May. which closed yesterday at 9lssTslis,
opened Today at alH, sold at Oily. and for
some time stood at about 9It4noi7s. About
IL o'clock the market became strong and ad-
yanccd to 9iis. where II was well supported.
The July option WIS tho feature Of tho trade.
II opened ut from sl5sto SO or lsaMo under
yesterday Il price, hut started up at once.
and by the time May had reached 9iIa July
had advanced 10 SO. a great deal of tho early
buying for July was credited TO the Letter
people, which had the effect of not only driv-
ing local shorts to cover, but outside shorts
az we'll and for time trading In that OPP
ton was decidedly warm Tho advance that
followed the opening decline was in the face
of good deal OF boarish Information brought
IN over the wires, Besides the early loss Mt
Liverpool, -four Mt Paris was reported 90 cen
times lower for MsrchJun term; English
country markets were from Cd to is lower,
and well known Paris grain dealer cahled
that French duties were nmoyAhe: that
crop prospects for the next harvest were mag
nihcent. and that the requirements for for
eign wheat In that country from now to
july were only about n. 1000, 900 bushels. Paris
closing quoted -four l0Gpi5 eentimes higher,
and Antwerp closed l21a confines higher.
Liverpool closed I'D higher for the day for
May and Nd lower for July. Clcarings from
Atlantic and gulf ports were equal in wheat
and flour to 52l.sO1 bushels. Local receipts
we're II ears against 20 the similar day OF
tho year before Minneapolis and Duluth re-
ccivcd 335 cars against 306 the week before
and 2i2 the corresponding day of the year
before. Realizing by local longs became quite
FREQ in the afternoon 10 both May. and July
options and slight declines onsued. the OK
trenie dizziness wbch set in during the last
half hour having Its influence. and the mar
Ret was weak at the close. May ut oii4 and
July at S2%,
There was some Improvement In trade In
corn. Tho market early was weak There
was quito good demand at the slight de-
cline, aud prices recovered.
Tho market for oats was dull as in the
other grain pits The start was easy but
tho advance In wheat and corn was followed
by oats. Buying WIS mainly for Now York
account. Elevator interests sold early
Considerable Interest WAS shown in pro-
Visions The market closed easy at about
tho inside figures. May pork was 9isc higher,
lard 2iec lower and ribs unchanged at the
close.
Estimated receipts Thursday: Wheat o.
corn gt5 oats 240 cars and hogs 10 900 head.
: ~ he Ieadlng intures ranged as follows.