The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-05-16
Dr.adstur. and Provislon..

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OF the wheat market was the exception
al feature on) change to-day. May
wheat opened at 81 80 per bushel, a re-
cession OF zoe from yesterdays closing
price. Letter showed q disposition to
protect his property, however, and the
close was at 81 AN. a net less OF only
SIC. July fluctuated over a range Of
SIC, closing at 81 04ls, a net gain of, Nc.
September did better and finished Mt an
advance of 1hc. Corn and oats closed
with o loss Of about Nc eah. Pork show
ed an advance of 50 but lard and ribs
closed at q decline Of 2hc eah.
Wheat opened weak. Liverpool re-
ported I'd loss for May, 411sd for July and
2hd for September. London reported
sellers Of cargoes at one shilling de-
cline. Continental markets also show
ed extensive liquidation. Under these
influences May wheat here started at q
loss of zoe per bushel. or at 81 90, July
began at a loss Of 2hc to Sc below yes
terday's close, selling ut 81 01A@l1 OF.
Chicago receipts were 367 cars, COM
pared with Z last year. Minneapolis
and Duluth reported 34S cars against 3i6
cars n year ago. Primary receipts ag-
gregated 797. 900 bushels, compared with
only $4,000 the year before. Atlantic
.clearances for the day were equal in
wheat and flour to 467, 900 bushels.
Beerbouhm estimated the worlds ship
ments for the week wer S.O00,0 900 bushels
With this wide Boosted array OF statis-
tics professional bears rapidly regained
their nerves and put out short lines with
more assurance than has been discernl-
bic in the past fortnight. They reckon,
ed without their host, however. Through
various brokers Letter gradually alb
sorbed offerings. and shortly before the
close the short sellers found themselves
pocketed. Through their anxiety to
even UP. July was advanced steadily to
81 OF. Half an hour before the close a
realizing movement set In, which could
not be stemmed. July went of &c at a
quotation touching 81 on just before the
gong sounded. Letter Immediately car
ried It back to 81 04lls. closing with SELL
ers at that prlce-a net gain Of Ac. AL
though May opened Zoe lower at 81 30
the price was practically nominal, the re-
~cession Of zoe being found necessary on
4 scale Of 5000 bushels. Letter picked
up the offering and on his evident will
ingness to support the price, 1t was ad-.
vanced at the close to 81 44&. showing,
however, a net loss OF SAC. The bulk OF
new business, (which 10 rapidly being
transferred through the efforts Of COM
mission houses to the September option,
showed no increase. Trades In that
month began at decline OF H@Tc, or
at S7k@S7hc. A few sales were made
as low as S7hc, but the strength in July
caused a rally to 9oKc. Realizing near
the close lried 1t back to S9Mc, q. net
gain Of 11kc.
The heavy receipts OF corr and open
Ing weakness in wheat made q heavy
market for the former at the opening.
The rally In wheat and provisions later
in the day. and the good cash demand.
caused a change In the tone and recov-
cry OF the early loss, with an addition of
nc or so besides. Receipts were $50 cars.
The weeks exports were 6.077,000 BUSH
els, and for the day Atlantic port clear
ances were 755. 900 bushels. Chicago re-
ceipts were GAS cars. Trading was ac-
tive. July opened 1B91hc lower at 35h
QS5Sc, advanced to S6kc. split and
closed at 36q36bc sellers, a net gain OF
B@Kc.
Oats ruled very nervous; covering ear
ly caused q good bulge. but the improve
ment was lost at the end by profit TAX
Ing. Chicago receipts were 300 cars. and
seaboard clearances amounted to 254, 900
bushels. July opened at 26lkc. 4 loss of
hc: declined to 25&c, rallied steadily,
recovering to 26h@26%c at the close, q
net loss Of K4Rc.
The break in wheat and corr at the
start encouraged some bears on provi-
sions to make a savage drive at their
own market, the consequences of which
was a considerable decline at the start.
Buyers soon took advantage Of the bar
gains being offered and absorbed them
all, and when more was wanted the pro-
duct was hard to buy without advanc-
ing prices. The latter alternative was
accepted, and prices had to go up. At the
close pork was SC higher for the day.
lard without change and ribs &c up. The
total Mt western packing places was Co.,
900 head, compared with $4,000 head q
year ago. Receipts this week were 167,-
900 head, and on the similar week last
year $1,000 head. Liverpool made no
change IN quotations Of bacon, but
noted Cd per H. pounds decline In lard.
Estimated receipts Monday:
hWeat 800 cars; corn $50 cars; oats 4S0
cars; hogs $4,000 head.
The leading futures ranged rs follows: