Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-03-07
MINING STOCKS.
PRODUCE.

fKUOUNE.
Chicago, March 5.-Covering of May
wheat by northwest shorts was the
feature in wheat trading to-day. If
was the principal factor in an advance
OF a cent in that option and the
strength displayed was communicated
TO July, which closed at Am3sc adj
vance. good deal of nervousness
was shown at times. Armour's order
ing OF 500 cars for shipment of wheat
from Minneapolis to Chicago having
a decidedly depressing effect early in
the session. Corn and oats were dull
and closed with hardly any change in
their previous values. Provisions
were weak and closed 21a010 lower.
The opening in wheat was steady.
July starting unchanged at 90A @
90$sc and bringing 901ac a moment af-
ter. May showed an opening of u C
advance at $1.05. The Ohio State crop
report, which made the condition of
winter wheat 33 per cent below the
average, was surprise to the trade,
as previous reports We're to the effect
that conditions were promising and
this caused momentary strength Then
prices commenced to drop. 1t was
reported that Armour had ordered 900
cars to load with wheat at Minneapo-
lis for shipment TO Duluth This was
taken by many traders as indicating a
repetition of the great run of wheat to
Chicago which took place last Deem
Der and resulted not only in the with
drawing of support. but also in heav-
lily increased offerings. Prices slid
off in consequence. July getting down
to 89% MS97sc The fluctuations in
May were very irregular and good
deal of nervousness was shown. From
the opening the market dropped quick
ly to S104B This was followed by a
quick recovery to s1.C6A 2nd almost
as rapid a decline to S1.05. Then the
market both for May and July began
to recover. On the first decline in
May buying on large scale was start
ed, and during the first hours trading
probably a million bushels changed
hands This was supposed to be most
ly for northwest shorts, commission
houses were all large buyers. getting
some of the May from the Letter peo-
pie. This sudden increase in the de-
mand for May brought local shorts in
July lubO tnt IAdl htJ anu Nitii liz eih
ditional help of some bullish news
prices already advanced. Clearances
were fair at 1000 bushels. There
were rumors current that the Letter
holdings in the northwest had been
sold to millers. They were not con-
firmed but nevertheless had effect
Northwest receipts were 252 cars
against 100 last week and 327 a year
ago. Chicago receipts were A cars,
II of which were contract grade. Near
the close the market became quite
strong. Buying became quite liberal
and general, and May. which Jad ad-
vanced to S1.05M, advanced. quickly
to $1.O6, but had reacted by closing
time to $105$4. July got up to the
best prices of the day, 90& @907sc,
and closed firm at 903sc.
Liquidation of long corn was the
feature in the market, prominent ele-
vator concern disposing of heavy
line. There was also quite general
selling early in sympathy with the
wheat weakness and prices declined.
The Improvement in wheat late in the
session resulted in better support be-
ing given and the decline was recover
ed, the close being steady. Heavy es-
timated receipts Monday had de-
pressing effect May ranged from 1923
to 297sm3Cc. and closed a shade lower
at 3G1s @30Ac.
The market for oats was very dull,
trading being merely of a scalping ma
ture. The tendency was downward at
first with wheat and corn, but when
these markets recovered later in the
day oats followed May ranged from q
to 265s 026Ac, and closed unchanged at
26Bc.
Provisions were weak all day, though
trading was too dull to permit of very
heavy losses. Easier hog prices start
ed provisions lower. There was con-
tinued selling by the packing interests
prominent in yesterdays liquidation
and prices tended steadily downward.
There was a good cash demand for
Saturday. At the close May pork was
71hM1Oc lower at 10.371a@10.40; May
lard sc lower at s5.15 and May ribs
21hc lower at $5.12R@5.15.
Estimated receipts Monday: Wheat,
"a cars: corn. 500 cars; oats, 80 cars;
hogs, $4,000 head
Associated Press Quotations.)
The leading futures ranged as follows
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