Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-10-27
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Chicago, October 26-Depressio in
foreign wheat markets to-day and lib
eral domestic receipts caused heavy
liquidation here. Prices experienced a
severe setback. December closed 1hc
lower. Corn is unchanged. Oats adj
Vanced Bc. Pork and lasd are un-
changed. Ribs declined 2Ac.
The early Liverpool cables showed
mat the wheat market there had gone
10 smash, as December had lost equal
TO sac per bushel since yesterdays
crosse. Paris was also lower, while
British consols were strong at an ad-
vance of 11-16d, which of themselves
told the story of the improvement in
the disturbed situation abroad. The
opening prices cf wheat here was q
to lie bushel lower for December
than yesterdays closing quotations.
Traders had a lurking apprehension
that the foreign calm might be only
the precursor of another storm When
later in the session a further advance
IN consols was announced, and there
was additional Id to the opening,
heavy declines in wheat at Liverpool.
LILO lCCllHS utIt OSCdlu6 unOIG UTO-
nounced than bearish, and prices of
wheat dropped through the barrier
Of puts" that had previously been
stopping the way. Domestic receipts
were liberal in the aggregate, Chicago
got only 81 cars, against 100 expected.
Minneapolis and Duluth received $50
carloads, compared with 776 the cor
responding day year ago. The total
primary western market receipts
amounted to 1,5S7.000 bushels. against
100000 bushels the corresponding
day last year. Atlantic port clearancas
OF wheat and -four were equal to SOL
900 bushels. The market ruled heavy
the greater part OF the session, but
had numerous slight reactions due to
taking profts by shorts. New York
reported some acceptances of last
nights offers from this side Iotwith-
standing depression in foreign mar
ket Prices rallied in the last ten
miutes, due largely to prudential pur-
chases by shorts who had profits.
Various c'cher reasons were assigned,
such as the taking of some wheat in
New York for Russia shipment. De
camber opened sole lower at 67A q
671ac, improved to 675sc, declined to
66as 0665ac, then rallied TO 67BW
67Ac, the closing figure.
The weather conditions developed
a decidedly firm undertone in corn.
The severe storms throughout the
west restricted the interior movement
and everywhere receipts were light,
only 147 cars being inspected here.
Continued wet weather also gave rise
to a. great deal of talk Cf further dam
age to the crop by rotting. Ihl2
caused buying for the investment ac>
count by prominent professionals and
as the offerings were limited prices
were forced up. A good cash business
also helped to maintain better prices
but the market finally yielded to the
weakness in. wheat and the advance was
nearly all lost. December began Ac
lower at 317s @32c, advanced to 92A @
3236c. then reacted to 321s @3zAc
sellers, the closing price.
Oats acted Independently, prices
ruling higher en- light offerings and
scattered buying by the crowd gener-
allv. There was a soft spot early put
ct no time was there any appreclaD4e
decline. Receipts were 1926 cars. May
opened A@Ac lower at PAS @24Ac'
advanced to 241a@243sc, and closed at
243s@241ac.
Provisions were barely steady, sui
fering a very small decline IN view ol
grain weakness and lack OF specuIa-
item. january pork opened z8E
lower at SO 10, rose to 50 10, deemed
tn 50 O71s, then rose to 50 12R buyers
the closing price. The fluctuations
we're of the narrowest kind in lard ana
ESTIMATED receipts for Thursday
Wheat 115 cars; corn, 500 cars; oats
ITO cars; hogs, $4,000 head.
Tho loading futures ranged as follows: