The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-03-08

J. vi q . ! Iii b O. d
vousness was shown at the opening in
wheat. The start was lower. july AT
o0tit 40 o showing an additional !, %,
&c decline, while May was &c lower 1T
81 o5A. iE{.4s
For the moment traders fell under
the Influence OF the grave condition OF
affairs between the United States and
Spain and the big break In the London
and New York stock markets. The ef-
feet OF this was In a measure counter
acted by tho new complication between
Russia and England. and prices rallied
for q few minutes, July getting Up TO
90Rc and May TO 81 0GA. Prospects Of
war between two foreign nations al
most invariably have n favorable effect
on the local wheat market and to-day
was no exception TO the. rule. The SELL
Ing price, stopped for the time being,
was, however, SOON renewed. The news
from Washington was OF too grave a
character to be overlooked, and besides
this nearly all the ordinary news OF the
day was Of an exceptionally bearish ma
ture. Northwest receipts were very
large, Minneapolis and Duluth reports
Ing N5G0 cars. compared with 362 last
week and 254 n year ago, The worlds
shipments were large, amounting TO
passage was reported OF 1850, 900 BUSH
els. A significant factor In the worlds
shipments was the big Russian move
ment, nearly five times in excess OF
what they were u year ago. Receipts
were l05 cars. Letter brokers gave the
market some support ut first but soon
withdrew. and tho market deprived OF
this sustaining feature. slowly declined
and grew quite dull. July finally sold
down to 90c and May to 81 0ila.
About mid-day a new feature devel-
oped in the buying by Letter OF the
September and December futures.
Shorts hardly understood this at first,
but when buying orders of those deliv-
cries were received from St. Louis. ac-
companied by reports Of very poor con.
d!tion OF the wheat plant IN Illinois and
Missouri, the crowd clme into the mar
ket For time September and De-
cember prices showed &c advance and
the strength was In a measure commu-
n!cated to the nearby futures, July raj
lying to 90hc and May to 81 0iS. The
very holiness OF the Letter operations
In the face Of what was considered n
naturally bearish market Startled shorts
into covering and gave the market for
a time good deal OF strength. Toward
the close all the futures dropped a lit
tie and at the end the market was quite
Irregular. July closing &c lower at
9OHc. May 1c lower at 81 OK. Septem-
Der and December, on the other hand,
closed about 1tsc higher each, .Septem-
Der at TS%c and December ut TIC.
Corn was fairly active and easy. The
Cuban war news and the weakness In
wheat induced more or less liquidation
by holders. Scalpers were the princi-
pal buyers. working the market both
ways. Prices tended downward until
near the close, when covering caused
q slight improvement in values. May
ranged from 3ois to 29%c, and closed &c
lower at 29is430c. a-t,
The market for oats was slow. with
very little trade. There was weaker
feeling, Influenced by the tone OF other
grain markets, but trade was too mar
row TO admit OF any material decline.
1t was merely an unimportant scalplng
market. May ranged from e65s TO eG5sc,
and closed n shade lower at 26A l26Sc.
Provisions were weak after q little
momentary firmness at the start, caused
by higher hog prices. The influence of
lower stocks and grain markets was
soon shown in the increased pressure to
sell from the outside and from local
holders. and prices gradually declined.
At the inside prices there was better
demand. principally from shorts, and
the close was steady at some recovery.
May pork closed 15c lower at $40 Is:
May lard 21sc lower AZ So l2h. and May
;ibs &c lower at IS TO-.
Estimated receipts Tuesday: Wheat
Il cars: corn 10 cars; oats 800 cars;
hogs 1900 head. y-' gtl.If. ss..5
The leading futures ranged as follows: