The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-01-20

" L D. - .
cHIcAGo-support from the Letter
crowd, which started with covering by
shorts. made strong July wheat mar
ket to-day, that option closing &c high
err, May, on the contrary, was weak
and showed q closing decline OF 1s4Ao.
Dearish foreign news influenced the lat
ter option. Corn was weak carly but
closed easy ut a shade better price.
Oats showed no change at the close.
Provisions were Irregular, closing 2hc
lower to 2hG5c higher.
Wheat started with some showing OF
weakness. AS usual the opening tone
was greatly influenced by Liverpool,
and the action OF that market on this
occasion was disappointment to the
bulls. Liverpool opened HQSd higher.
but by opening time here that advance
had nearly all been lost. The market,
however, was only slightly affected and
after few minutes hesitation q firm
undertone was shown. May, which
closed yesterday ut 0l%99lisc, opened
to-day at 9iitc sold to 9lisc. and for
some time stood at about 91A 99lSc.
About II o'clock the market became
strong and advanced to 9lihc. where 1t
was well supported. The July option
was the feature Of the trade. however.
~ upGiltu ~ llSliI ~ " c-It VI yAV AZ
under yesterdays price, but started, up
at once and by the time May reached
9lhc July had advanced to S3c. A great
deal OF the early buying was credited
to the Letter people. which had the ef-
feet of not only driving local shorts to
cover, but outside shorts as well, and
for a time trading was decidedly warm
The advance that followed the opening
decline was in the face of q good deal
Of bearish Information brought in over
the wires. Besides the early loss at Liv-
erpool, flour at Paris was reported 20
centimeS lower for March-June term:
English country markets were from Cd
to Is lower and a well known Paris grain
dealer cabled that French duties were
immovable. that crop prospects for next
harvest were magnificent and that the
requirements OF the foreign wheat in
that country from now to July / were
only about 100000 bushels. After
ward the closing cables from Paris
quoted both wheat and flour 10 confines
to Is centimes higher, and from Ant
werp a rise OF 12ls centimes was adj
vised. Liverpool closed I'D higher for
the day for March wheat and I'd lower
for May. Clearances from Atlantic and
gulf ports were equa. in wheat and flour
to 525,S00 bushels.
Local receipts were II cars, against 90
the similar day OF the year before. Min
neapolis and Duluth received 335 cars,
against 367 the week before and 21o the
corresponding day Of the year before.
Realizing by local longs became quite
free in the afternoon in both the May
and July options, and slight declines
ensued. The extreme dullness which
set In during the last half hour also had
Its influence and the market was weak
at the close. May at size and July at
S2&c.
There was some improvement In the
trade in corn. The market early was
weak on general selling by room trad
ers. There was quite good demand at
the slight decline In prices and this and
the recovery In wheat caused q better
feeling. Liberal country offerings were
q factor In the early weakness. May
ranged from 2sc to 2SSGp2S%c and closed
q shade higher at 2S7sc.
The market for oats was dull. As in
the other grain pits. the start was easy,
but the advance in wheat and corn was
followed BY oats. Buying was chiefly
for New York account. Elevator inter-
ests sold early. May ranged from 23Xc
to 23kc and closed unchanged at 231.c.
Considerable interest was shown In
provisions. A strong feeling prevailed
at first, commission houses and some Of
the packers buying literally, and prices
advanced. A higher hog market con-
tributed to the strength. Later on the
market became weak on increased Of
ferings and the absence OF support and
nearly all the advance was lost, the
market closing easy at about inside flE-
ures. At the close May pork was exc
higher at 50 so. May lard exc higher at
81 72ls and May ribs unchanged at 81 Is
Estimated receipts Thursday: Wheat
Is cars; corn 375 cars; oats 2iO cars;
hogs 5000 head.
The leading rutures ranrel aa folin,rs.