Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-05-16
MINING STOCKS.
PRODUCE.

Chicago, May 14.-The peculiar ir-
regularity of the wheat market was the
exceptional feature on Change to-day
May wheat opened at $3.50 per bushel,
a recession Of 20 cents from yester-
days closing price. Letter showed a
disposition to protect his property,
however and the close was at $144%, a
net loss CT only SIC. July fluctuated
over range Of sac. closing at S1.041a,
net gain Of Nc. September did bet
ter and finished at an advance Of 1hc.
Corn and cats closed with a loss Of
about &c each. Pork showed an ad
vance of sc, but lard and ribs closed
at decline of 21ac each.
Wheat opened weak. Liverpool re-
ported I'd loss for May, 41sd for July
ana Z1aG tor September. London re-
ported sellers Of cargoes at one shill-
ing decline. Continental markets also
showed extensive liquidation. Under
these influences May wheat here start
ed at loss Of See per bushel, o. at
S1.30. July began at loss Of 214c to Sc
below yesterdays close, selling at
SILVIA WLJ2. Chicago receipts were 1861
cars, compared with seven last year.
Minneapolis and Duluth reported 34S
cars against 246 year ago. Primary
receipts aggregated 797, 900 bushels,
compared with only $4,000 bushels
the year before. Atlantic port clear
ances for the day were equal in wheat
and -four to 467 900 bushels. Beer
bohms estimated the worlds ship
ments for the week were 8,0C0,GC0 bush
els. With this bearish array OF statis-
tics professional bears rapidly re-
gained their nerves and put out short
lines with more assurance than has
been discernible in the past fortnight.
They reckoned without their host, how
ever Through various brokers Letter
gradually absorbed offerings and short
~ before the close the short sellers
found themselves pocketed. Through
their anxiety TO even up July was adj
yanced steadily to $1.67. Half an hour
before the close a realizing movement
set in which could not be stemmed.
July went off 1ac at quotation, touch
ing $104, just before the gong sound
ed. As Letter Immediately carried it
back to S10415, closing with sellers at
that price-a net gain Of &c. May
opened zee lower at $130, the price was
practically nominal, the recession Of 2Cc
being found necessary on a scale OF
$4,000 bushels Letter picked up the
offering and on his evident Willingness
to support the price it was advanced
at the close to SLAM, showing, how
ever, net loss of SIC.
The bulk of new business, which
is rapidly being transferred through the
efforts of commission houses, to the
September option, showed no increase.
Trades in that month began at de-
cline of 5s07sc, or at S1A @871ac. A
few sales were made as low as S718c,
but the strength in July caused rally
to 90Ac. Realizing near the close car
ried it back to $3.50, net gain OF 112c.
The heavy receipts of corn and open
ing weakness in wheat made heavy
market fer the former at the opening.
The rally in wheat and provisions
later in the day and the good cash de-
mand caused a change in the tone and
the recovery of the early loss with an
addition Of 1sc or SO besides. Chicago
receipts were GAG cars. Trading was
active. July opened 11801Ac lower
at 358035Mc, advanced to 3618c, split
and closed at 36Q361Bc sellers, a net
gain Of 1sQAc.
Oats ruled very nervous, covering
early caused a good bulge, but the i'm
provement was lost at the end by
profit taking.
Receipts this week were 10000, and
on the similar week last year ISL, 600
head Liverpool made no change in
quotations Of bacon, but noted Cd per
113 pounds decline in lard.
Estimated receipts Monday: Wheat,
$50; corn, $50; cats, 430; hogs, $4,000
head.
The leading futures ranged as follows:
..,a, t'n,o,fI HIGH T .oxx t(slose