The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-01-07


Breadstufrs and Provisions.
CHlCAGo-Bearlsh statistical news
predominated In the wheat market for
the FIRST part OF to-day's session and
the price declined q cent. The improved
cash situation started things the other
way aud at the close May wheat show
ed &c advance over yesterdays final
price. July, however, closed sc lower.
Corn after weakness, became strong
and closed H9Hc higher. Oats were
firm and advanced H9hc. Provisions
declined 7sGl2iic.
News affecting wheat before trading
commenced was chiefly bearlsh and
that was cleSrly the effect Il, had upon
the spectators. Mag, which closed yes
terday at 9OSc.opcned at from Coo down
to S9Ec, sold very spar!ngly at sodsoHc
and then slid off quickly TO s9Sc. For
two hours the range OF the fluctuations
was practically limited between the eN-
tremes mentioned. The main points OF
the early market information were as
follows: Liverpool quoted a decline OF
I'D to start with and the reason for 1t
was In one cablesram ascrlbed to lib
eral offerings of Argentine wheat and
in another to Thoman's reported export
surplus OF 100, 900, 900 bushels stu avail
able In this country. A private cable
gram from Paris said wheat was rap
idly declining and the market was very
weak and depressed. The price current
remarked OF the condition OF winter
wheat that 1t was generally protected
by snow. The northwestern receipts al
so were still too liberal to create fresh
bullish sentiment. Minneapolis and Du-
luth received 316 carloads. compared
with SIS last week, but they looked
heavy when put against eOs a year ago.
Russla's encouragement to shipment OF
flour to that country In preference to
wheat in the shape OF rebates In rail-
road frelghts OF from 16 to 20 per cent
in favor OF flour. was also considered a
reason for lower prices here.
The only bullIsh feature OF the early
news was the small Chicago receipts.
The number OF carloads inspected here
was Al, against so expected and only
three of the lot inspected were contract.
Some features OF the local cash wheat
market came into play later In the day
and was one reason for q change that
took place In speculative sentiment and
turned dependency at the beginning
into buoyancy in the latter half OF the
session.! No. 3 spring was sold In car
lots at sec, when Mag was quoted at
Se7sc and generally the of grades In
the sample market were bringing more
money by from 1c to &c per bushel
than the same quality sold at yester-
day. The upward turn to the market
was helped also by the liberal clear
onces from Atlantic ports, which In
wheat and flour amounted to $4,000
bushels. Reports from Baltimore were
likewise forthcoming to the effect that
three steamers had been chartered
there for wheat, and New York also
reported some fresh business done for
export. Closing cables made Liverpool
latest prices from I'D to 1!sd lower
than those OF the previous day. Perhaps
as influential a factor in the afternoon
bulge'as any was the fact that several
heavy local shorts bought steadily for
an hour when The price OF Mag was be-
tween S92c and sOisc and when owing
to the late bullish adVices from the
outside the general crowd who were
short tried to buy and found the SAL
able wheat had all been absorbed. The
price for May slowly recovered to 90Ac
and moved up more rapidly aftcrwerd
to 90T d90i;c and closed at 90ac bid
or &c higher than 1t did yesterday.
Corn was moderately active, follow
ing In It's course the changes in wheat
prices. The market was so weak carly
with wheat, but when that market re-
acted corn advanced so elsily that It
appeared as though 1t had been pretty
thoroughly %llquidated. Near the close
shorts became alarmed and the
best prices Of the day were prevailing
as the session ended. Commission
houses and scalpe-s were the sellers.
May ranged from 29IG25Sc to 2SSc
and closed 3sGhc higher at 29h929ssc.
Oats were firm throughout the session,
even with wheat and cor weak. Shorts
both large and small were constant
buyers and their operations caused n
slow but steady advance IN prices. The
small supply OF contracts oats in CHI
cago tended to create some anxiety
among shorts. a good shipping demand
existed. May ranged from e2SI2cc to
23Fsc and closed SGtsc higher. a. 23E8
23ssc.
Provisions were weak from the s.art.
Hog receipts both here and at western
points, were heavy, which was regard
cd as sufficient cause for lower opening
prices. Packers were free sellers and
the heaviness was added to rs the ses-
sion progressed. There was n little bet
ter demand at bottom figures. At the
close May pork was 12ikc lower at
80 2215: May lard 7h lower at 81 S2is
and May ribs 1Oc lower, at 81 62k.
Estimated receipts Friday:
Wheat, 81 cars; corn. 555 cars; oats,
POS cars; hogs, $1,000 head.
Cash quotations were as follows:
Flour quiet,
wheat-No. 2-sprlng Ssa9S7c; No. 2
red 9OMa9lc.
Corn-No. .. 2Gfa62GHc; No. . yellow