The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-05-10
Breadstnr. ana Provis,ons.

cE1cAGo-The most exciting mar
ket since the Franco Russian war was
witnessed In the wheat pit to-day. on the
Chicago board OF trade. An advance OF
,tfSc d bushel was scored In the active
option. July. The market reacted only
1c from the highest point, July closing
strong ut 81 aH. May rose TO 81 70 and
finished at the top, a net gain OF Sc.
The recent sharp advance In May vas
insignificant in comparison with to-
days bulge IN July. Bids were fire.
Quentiy advanced two or three cents on
the execution OF a single order. A SEN
.sational advance at Liverpool, over 10
for July, started the Chicago market,
and after the start there was apparent
~ no stopping. Corn advanced &c. ats
lc, pork &c, lard &c. ribs 2hc.
The Liverpool market to-day excelled
all previous efforts at startling ad-
.vances by opening I'd higher for May
and from I'd to Cd UP for July. compared
with Saturdays closing figures. That
set the Chicago wheat pit into q roar OF
nervous excitement at the opening. All
sorts Of prices were paid for July SIM
ultaneously In different parts OF the pit.
1t was impossible for a few minutes to.
get an idea OF what price was predom-
mating, but after q while the opening
range, as near as could be found out,
was given at 81 OK to 81 102.
Trading OF these limits was enormous
for two or three minutes, but buying
orders without limit to price poured in
from outside and the price leaped up
ward IN great bounds. touching 81 IA for
an instant. The market reboundeG to
81 liz. Shorts saw that their only
chance to recoup was by doubling and
Price was no object. Up shot quota
tions again, touching 81 1s ten minutes
after the opening. Another reaction to
81 1917 followed, but offerings were
greedily absorbed and the market grad
ually settled down around 81 Is. Trad
ing in May began at Sc advance. Letter
sold a little at 81 IS. causing a reaction
to 81 20, which, however, a quickly
recovered. The usual statistical fig
ures were utterly Gisregarded. Local
receipts were 343 cars, against Q a year
ago. Minneapolis and Duluth received
42S cars. compared with 4l9 a year ago.
The worlds shipments were 9.775,0oO
bushels last week. India contributing
1,56S, COO bushels and Russia 1912, 900
bushels Of the total. The domestic Wis
ible Increased only $4,000 bushels,
2,55o,000 bushels last year.
Primary western markets received 62s,-
900 bushels, compared with CSC. 900. BUSH
els the corresponding day OF 1897. The
English visible supply increased 239, 900
bushels. The quantity on ocean pass
age was $50, 900 bushels smaller than a
week ago. After q brief rest at 81 Is the
buying furore was renewed. TIE wild
scramble of European nations for
American breadstuffs appeared to be
corcius!vely shown by the %nnounce
mcnt of a fresh bid to Letter for 1000. 900
bushels OF red wheat. Up to the close
he had not accepted the offer but re-
ported other sales OF 1900 bushels to
go abroad. The Liverpool marke. at
the close showed gains OF Cd for spot
and 2SG9d for futures. Paris and Ant
werp accentuated the European short
age by advancing &c each. Near the
end OF the session offerings became
scarcer than ever and July rushed UP
to 81 PIX, easing off at the close to
81 20A. September, which sold early at
S9c. was rushed up to Csc and closed &c
net higher at AAc.
No failures were reported on change,
but margin calling was sharp.
Corn vas active and shorts covered
freely with the strength OF wheat as an
incentive. May gained 2Sc. July &c.
Receipts were heavy. CTS cars at Chi
cage. and weather was favorable. Sea-
board c%learances were $4,000 bushels.
The visible supply decreased 2,131, 900
bushels. July started h@1c higher at
35&c to 35a936c, advanced to $3.50
37hc, closing easy at s6SQ37c.
Oats were neglected. but on moderate
covering advanced about 1c. The Wis
ible supply decreased 1,eS4, 900 bushels.
The days claaraIces were 227, 900 bush
els; local receipts 422 cars. July opened
HIBc higher at 27HG27Bc, advanced
to CSC. closing SG1c net higher at 277s
@2Sc.
Provisions did not share to any ex-
tent In the grain excitement. Liver
pool was quoted dull at unchanged
prices for meats and lard. Western
hog receipts were $1,000 head, against
G0,O00 head last year. Packers sold
moderately at the advance. The clos
ing prices. showed advances Of sc in
pork, TIC in lard and 2kc In ribs.
Estimated receipts tomorrow: Wheat
425 cars; corr 1.l?0 cars: oats 625 cars;
hogs 2I.f00 head.
The leading futures ranged as follows:
Articles. open. High. Low. Close.