Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-04-14
PRODUCE.

Chicago April 13.-May wheat to-day
sold at s1.091a, the highest point yet
reached for that delivery, while July al
one time showed an advance of 2a4c.
The critical state OF affairs between the
United States and Spain and enormous
sales Of cash bought by Letter caused
one of the broadcast markets seen here
in long time, shorts of all kinds being
driven to cover May closed at Nc
higher, and July PA @2ssc higher. 9th
er markets advanced in sympathy, corn
closing &c higher. oats 1ac higher and
provisions 212@121ac higher.
Everything in wheat was very strong
at the opening. Even May. which has
been almost nominal Of late, exhibited
a great deal of activity, and in fact was
the feature of the early trading. The
most prominent factor in the strength
was undoubtedly the gravity of the re-
ports from Washington. Another fac
tor was the knowledge which leaked
out before trading commenced that Lei
ter had received acceptances from
abroad of all the wheat he had offered
the previous afternoon at prices based
on yesterdays advance. This quantity
was put by Letter at about 100000 BUSH
els, and this proof of the determination
of foreigners to get all the wheat posi-
BILE ahead of actual hostilities created
genuine anxiety among shorts, big and
little, and started them to covering as
soon as trading commenced May start
ed at $1.OS. an advance of cent and
advanced at once to $1.092, the highest
point yet reached on that option. Very
Iittla aff ffrc+ Int 7 oit
soon took advantage of the bulge and
disposed of large quantities through
brokers, satisfying for short time the
shor, demand and the price eased off to
S1.0S. The big trading. however was
done in July. That option opened at
from S5s4c to S61sc, compared with So "
MS55sc. All classes of buyers came
into the market. but offerings were de-
cidedly limited until the price got up to
| S65s. This was above call figures and
free selling by holders of those priyi-
leges with extensive realizing by longs
caused little softening of prices, July
getting back to S63sc. For time after
that there was a little cessation in the
| buying fever and prices did not change
much But about 1870 the influence OF
the Washington news was augmented
DY more SENSATIONAL NEWS leSdlulDS Tue
California crop. The condition In that
State was said to be the worst since
1856, and predictions of not more than a
third of crop were made unless rain
comes soon. Before 2 o'clock the buy
ing had become larger than before, and
as the session wore on it became prac-
tically a scramble among shorts to
cover. Ordinary news of the day cut
little figure, everything else being over
Swallowed by the war news and Letter
big cash sales. Continental markets
were firm and higher. Northwest re-
ceipts were small, 142 cars. against 90
last week. and 293 year ago. Chicago
receipts were II cars. The addition tc
contract stocks to-day amounted TO
ahout $4,000 bushels. Clearances were
rather light. The Letter interests sold
largely of May and also Of July right
nm 10 the close, but even his offerings
were not sufficient to satisfy the de-
mand and a few minutes from the end
of the session, Jnly was bid up TO sorsc
The market then reacted TO Sftsc, winch
was the closing price May closed at
s1.0Sia. Letters brokers to-day caiie'
a ten per cent margin on everybody on
Nav trades.
Corn was rather draggy at first ke-
ceiving houses sold a good deal when
with the favorable weather had TEND
ency to keep prices back. After noon