The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-04-14

reports from Washington. Another fac
tor was the knowledge which leaked
out before trading commenced that
Letter had received acceptnnces from
abroad of all the wheat he hnd offered
the previous afternoon at prices based
on Yesterdays advance. This quantity
was put by Lelter Mt about zoo, 900
bushels and this proof OF the determl-
nation OF foreigners to get oil the wheat
possible ahead OF actual hostilities cre-
ated genuine anxiety among shorts. big
and little. and started them TO covering
as soon as trading commenced. May
started Mt 81 0S, an advance OF a cent.
and advanced at once to 81 O9k. the
highest point yet reached on that OPP
tion. Very little was offered ut first,
but Letter soon took advantage of the
bulge and disposed of large quantities
through brokers, satisfying for a short
time the short demand and the price
eased off to 81 0S. The big trading, low-
ever, was done In July. That option
opened at from S5Zc to S6hc, compar-
ed with S51sQS54sc. All classes OF buy
ers came into tho market, but offerings
were decidedly limited until the price
got up 10 S6Sc. This was above call fig,
ures and free selling BY holders OF those
privileges with extensive realizing BY
longs caused little softening OF prices,
July getting back to S6Ac. For time
after that there was q little cessation In
the buying fever and prices did not
change much. But about II 80 o'clock
the influence OF the Washington news
was augmented by more sensational
news regarding the California crop. The
condition in that state was said TO be
the worst since 1856 and predictions OF
not more than aTthird OF a crop were
made unless rain comes soon. Before u
o'clock the buying had become larger
than before and as the session wore on.
II became practically scramble among
shorts to cover. Ordinary news OF the
day cut little figure, rything else be-
Ing overshadowed by the war news and
Letters big cash sales. Continental
markets we're firm and higher. North
west receipts were small, li2 cars
against 255 last week and 293 a year
ago Chicago receipts were seventv-one
cars. The addition to contract stocks
to-day amounted to about $4,000 BUSH
els. Clearances were rather light. The
Letter interests sold largely OF May
and also Of July right up to the close.
but even his offerings were not sutll-
cient to satisfy the demand and few
minutes from the end Of the session.
July was bid up to Ssssc. The market
then reacted to S77sc, which was the
closing price. May closed at 81 0SI..
Letters brokers to-day called a ten per
cent margin on everybody on May
trades. ~
Corn was rather draggr at first. Re-
ceIylng houses sold good deal. which,
with the favorable weather. had a ten
dency to keep prices back. After noon
the market began to respond to the
jump in wheat and became strong. with
broader trade. May ranged from
COS G30Ec to 297Sc and closed &c higher
at 3Olsc
Oats were active and strong, the
flrmness being due principally to the
wheat advance. Shorts were good buy
ers all day. Crop reports we're not alto
gether favorable, recent frosts having
done damage In some sections. Shippers
and commission houses bought May
ranged from c61c to 25a995;sc and
closed nc higher at 26Ac.
Provisions early were easy on a
break In hog prices and the marke;
dragged until noon. Packers were
market turned strong with grain and
on war news. shorts covered freely.
May pork closed liHc higher at 50 92H;
May lard about unchanged at s. 171@
and Mag ribs 2llsc higher at S. 11E:.
Estimated receipts THURSDAY:
Wheat. r. cars; corn, 100 cars; oats,
200 cars; hogs, $1,000 head.
The leading futures ranged as follows: