The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-05-14
NHEAI PRICES FILL
Liquidation and Short Selling
Do the Work.
MAY LOSES A NICKEL
July 4,September 2 10 Cents
loWer--Provisions Drop,
WAY LOSES A NICKEL

Chicago, May 13.-Liquidation and short
selling today caused a general decline in
the board of trade. May wheat closed at
a loss OF SC, July &c and September 21sc.
Provisions followed wheat with declines
of 45o in uly pork and 15c per hundred In
| lard and ribs. Selling was by packers
and longs generally. Corn and oats suf-
fered loss of 9sc each on liquidation
Wheat opened weak at from ~ to SIC
lower for July than 1t closed yesterday
opening trades in that delivery being over
a range OF from sl.O5 to slO6A- May open
ed weak at $3.50. decline OF IS cents over
night. September dropped from Ssh to
| SS7sc. The Liverpool market was remark
ably steady. showing only about Id loss
at the start. in the face of yesterdays
break in this market. Argentine ship
ments of only about S24 ono bushels. 800 AZ
the week before was considered bull
card but failed of effect owing TO heavy
| domestic receipts. The latter aggregated
| SIS, 900 bushels. compared with $4,000 the
year before. Chicago receipts were only
255 cars, against a year ago. Minneap-
| oils and Duluth reported 155 cars. COM
pared with 346 a year ago. Seahosrd
clearances were $4,000 bushels. wheat and
-four Shorts were extremely nervous.
Pit trading was small. and although pro-
fessionals ventured modest flyers on
the short side, they ran TO cover on the
slightest sign of returning strength in
the market. July. after touching s1.04&.
rallied spasmodically to s107. but slid off
easily again when the demand from
shorts failed. Closing cables showed In
creased bull WEAKNESS abroad, declines
of 21h6515c at Liverpool, 11kG21zc at Paris
and 1Lc at Antwerp. Reports of harvest
ing from Texas and probable early cut
further north treasured short sellers.
July dropped Iistlessly to S1.04 closing a
s1.o4t4 bid a net loss of &c. May, which
started at $50 rallied to s1.55 on Letter
support. but eased off near the end to
81 As and closed at 81 50 sellers-a net loss
of 15c. Exporters reported no sales. Sep
TENDER started %61c lower. al S91L6S912c,
sold off to S77sc, closing 21sc net lower,
at SSIsc sellers.
Corn was for sale in large chunks from
start to finish. Concessions were made
at the opening Of a half cent. A slight
rally followed but renewed liquida lions
forced the price off again. Foreigners
were reported as re-sellers Of corn bought
70 forward shipment The Liverpool
market was weakened by freer offerings
of corn from Argentina. The decline at
Liverpool was from 114d to 12sd, for fu-
lures. Reports from the country were
numerous to the effect that replanting
had to be resorted to extensively on ac-
count Of seed having rotted In the ground.
Local receipts were 646 cars. Atlantic
port clearances were 900 bushels Ar
gentina exports for the week were 312 900.
against 10000 bushels the week before.
The opening business in July was at
from 361sc down to SEC, as against 3615c
sellers at the close yesterday. Consider
able was wanted at the reduction and the
July price rallied to 364G36asc, but on the
continuance of the sales of long corn it
dropped to 3534 G357sc and closed at $3.50,
a net loss of sc.
Only a moderate business was transact
ed in the oats market. An easy feeling
prevailed, with May longs anxious to sell.
The favorable weather was responsible
for the easiness of the more distant fu-
lures. From the seaboard $4,000 bushels
was cleared. Receipts here were 269 cars.
May closed with a total loss Of nc. July
started at &c, &c below yesterdays close,
and sold at 27Ikc, and declined to 265sc at
the close, a net loss of 5sc.
The disposition of the provision traders
the market. The lowest prices were pre-
vailing at the close. The opening was
weak at from 10 to 2Oc decline in July
pork. 214d5c in lard and from 21kc to TIC |
in July ribs. That was succeeded by a I
considerable upward reaction. But the I
Up turn was met by heavy selling on the /
part of packers. and prices quickly re- 1
coded, closing at the lowest point of the /
day. Outside trade was considerably /
lighter than yesterday and proit-taking I
was general. Total hog receipts at west /
ern points were 65.O00 Lard at Liverpool /
was quoted Sd higher and bacon rs over
yesterday. but this failed to sustain
prices here. July pork ranged 81 65fbu. s. +
closing at SIC net loss, at s1le5; July
lard s6.4oG6.70. closing 15c net lower. at
$50: July ribs s61Od6.3oa6S2 closing I5c
net lower, at s61215
Estimated receipts for tomorrow.
Wheat. go cars; corn. $50 cars; cats. $50
cars: hogs, q. o00 head
BONDS.
The bond market was quiet outside OF
a few speculative issues and the tone was
rather heavy Total sales g $4,000.
United States new tours declined * per
cent. and the old fours regular Z per cent
bid price. There were sales OF the old
tours registered at gain Of ! per cent
over the last sale.
New fours, REGISTERED 122ss; coupon 1879
tours registered I0Sls. coupon Ioels: tvos
.; Aves registered and coupon 1903; Pa
cihc skies OF 'se. los
GRAIN AND PRODUCE MARKETS
The following Official rama ~ -rsoss -