The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-02-10
GRAIN MARKETS ERRATlC.
Ia Chicago May Wheat Made an In
gIofious Finish.
PRICES WERE FOR a TIME HIGHER
eelIing Attributed to Letter, Cudnhy
and -. Louis spccuIators--Pro
visions Make New Record.

Chicago, February D.--After ruling short
till within fifteen minutes OF the close. wheat
took sudden and inglorious fall. Unloading,
credited by some TO Cudahy and Letter, and
by others to st. Louis holders, started the
market down and resulted IN n loss OF &c
! advance and a fraction bcsides, the market
| closing AmM lower. Corn and oats were
| duh and active by turns but closed with
very little change 10 prices. Provisions again
advanced sharply. closing prices showing 11
| lT,kc gains.
The early market for wheat was rather
colorIcss. May opened al u shade under yes
tcrday's closing prices, frat trades bcing made
at ovmg96i4 but the market was steady and
held awhile at these figures. Then It slow
| " advanced and ruled strong for fully an
hour, May In the meantime getting up TO ?oss
| @a5A
The early news IL anything favored de-
cline, but as usual the, Traders we're appar
ently afraid to put any lines out and NJ there
was but littlo outside demand except one
fairly large line the market was exceptionally
duh for some time.
Early Liverpool cables showed about 7-Sd
advance hardly a full rcsponso to yesterday
ndyanco here Northwcstern receipts were
LIBERAL Chicago received siXty-seVen Earn
Yesterdays exports were fnully put nt my.
four boatloads and a continuation on the n,n ~
WINS looked for at the opcninE, bul ON thc
contrary New York reported cables bfinpihg
IN no buying orders and adding that ArSel1
tine offerings were expected TO increase snort
~. This uuwR, however, hnd hnfuiy any VI
feet on tho market.
There was Il well defined rumor IN clrcu-
latlon thDt sharp upiurn was part OF INC
Letter programme for tho session ana TINS
undoubtedly Kept many Nouln-be scuefs
alpof.
strength witch developed in the course
grain and provision market had some enect
ON the advance, After rising TO 9b1supo9i, inc
market settled bnrk 70 about tile lever OF
the opening prices then gradually gathered
strongth. with the TRADE muth larger anu more
general. Later news from the scaboarh was
much more encouraging.
by I2:30 p M. there was an urgent demand
from nll over the pit aud hall an hour from
the cosc May had reached ~, the highest
point OF the day, There II stayed FOL, a few
minutes then suddenly tho market collapsed
During Tho advance there had been heavy
soiling from Houe source This was easily
tnkun care of for n time bu' The crowd hnal =
ly. Ggurativeiy speaking, turned tail anu SELL
ing orders cauin In a Hood. brcallng tho mar
llct In the last fifteen minutes OF the SEES
sion from " to ahssMsb The heavy ll1uida-
ton was credited by some to Letter or cudithy
and by others to large ST, Louis intGIests, :
From whatever source X WAS II had the Ell
feet OF turning n strong market into 2 weak
one In very abort timc. May closed weak
and nervous Mt IS 7-SmtaG,
cnrp WIS active and frln most OF the ses-
sion. the market being especially active to-
ward tho close, A COCO demand was re-
ported This and the strength Of provisions
kept prices well above yesterdays hgures un-
| til-noar tho close. when The slump In wheat
| caused free realizing ard most of the ad-
vance WAS lost
Oats were moderately active throughout
but did not develop much strength until the
| session was well advanced when the strength
| of the other markets aud some covering by
| shorts caused i, fair advance. This was mini
| tained until near the close. when the market
| broke with whont and corn The high point
OF today waa tho best yet reached on the
| crop.
The market for provisions WINS very active
| and new high records we're made for the year
| AZ the uluse May pork was ING higher,
| lard Tisc higher. aud ribs 5l5c higher.
| Eetimated roroipta Thursday Wheat 81;
| corn. 500; oats, 80 cars, and hogs ao'o0o
| head
| lhc lnnhlnr fnturer ramon az follOwa.