The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-03-05
Bread,tuif, aud rroviAlonl.

cHlcAGo-selling by Armour and
presumably by elevator interests was
the feature In wheat trading to-day and
was mainly responsible for decline OF
11.c in May and 7h@lc in July. Corn
was weak In sympathy and declined
&c. Oats were sustained bv the export
demand and closed at unchanged
prices. Provisions suffered severely
from liquidation, closlns Zoe to zoe low
er. /! X
At the, opening and for short time
after there was II lively speculative de-
mand for July wheat and the market
displayed considerable frmncss, As
usual Letter was at the bottom OF the
strength, the ordering OF 540 600 bushels
more of his wheat for shipment to the
seaboard this morning, nearly 100000
bushels since this movement began
being responsible for good deal OF
buying. Another factor was the Sign
Ing Of the decree reducing the Spanish
Import duties on grain, Opening trades
in July were made at 9lR9elSc. n
shade above yesterdays closing price
and enough support materialized 10
send the price up 10 9lssc In short
time. Thut proved to BIO the high point
OF the day. Outside OF tho items OF
news mentioned everything favored the
selling side OF the market and this fact
soon had Its effect. Liverpool was,
the especially oiscourngins feature.
That market showed Aa%d decline.
Argentine shipments were the heaviest
thus far this season. 5elug reported at
100000 bushels. Chicago received &C
cars, 16 of which were OF contract quail
ity. Northwest receipts rose TO 3l3 cars
against 267 cars last week and 26S a
year ago. Export, clearances for the
day were not large enough to be q bull
feature The figures were 395. 900 bush
els and primary receipts were over $780,
900 bushels. This array OF bear news
gradually brought sellers into the
market and liquidation: light at first.
gradually grew heavier, prices slowly
declining. In the meantime another
factor had entered the market In the
shape OF selling OF May. by the eleva-
tor interests In which Armour was es-
pecially prominent His house made
no secret of their selling and the free
dom OF their offerings brought others
20 the selling side. Opening prices of
May were &c higher at 81 o5lE. An ir-
regular decline to 81 o5is followed Then
came a slight reaction, but prices soon
got back to 81 G5i4 again. July by that
time had declined TO 9o1sc. For some
time the market hesitated at those fig
ures, but the liquidation OF May finally
took all the remaining courage out OF
the bulls and the market was left TO
shift for itself During the last hour o.
ferings became quite heavy both In May
and July, and prices slid off rapidly,
May getting as low as 81 0i,s and July
declining to soc shortly before the close.
Covering by shorts with good profits
then caused little better feeling and
slight improvements followed, May raj
lying to 81 OAK and July to 90i4 @90%c.
Those were the closing prices.
Corn was easier on q moderately}ac-
tive market. The strength was shown
at the start, the market In this respect
following wheat, but when wheat de-
clined selling OF corn became quite gen
eral and prices declined steadily. Fav-
orable weather and prospects of prod
iEious Argentine corn crop were factors.
May ranged from COZ 20&c to 3OisG
So4c and closed &c lower at 2OEc.
Oats were remarkably strong during
the morning. Heavy export sales and
liberal commission house buying caus-
ed &c advance, which was maintained
for some time. Weakness In other
markets and moderate amount OF ce-.
alizing resulted In loss OF this ad-
vance later. the market closing rather
easy. May ranged from FIX T26&c. clos
Ing shade lower at 26S @26Nc..
Pressure 10 sell provisions was mark
ed from the start, and grew heavier as
the session advanced. Most of this was
credited to prominent packer. but Of.
ferings were quite genera!,and the mar
ket. which opened lower In spite OF firm
hog prices, declined steadily. Toward
the close a little support was given the
market and prices rallied slightly. The
feeling, however, was distinctly weak. |
At the close May porhIwas Zoe lower.
at $40 47is: May lard 1oc lower at IS 20,
May ribs l0c lower at S. lT}:.
Estimated receipts Saturday:
Wheat, 60 cars: corn, G2S cars; oats, |
SIS cars: hogs. $4,000 head.
The leading futures ranged as follows:
Articles. Open, High. Low. Close.