The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-05-12
Breadsturs and Provisions.

CH1CAGo-Provlsions had q veritable
boom on Change to-day. Pork at the
close showed a net gain Of eighty cents
a barrel. lard sixty-fve cents a hun
bred weight, and ribs forty-Nve cents.
The pronounced bull movement In hog
products was based on the lively cash
demand bp the government for army
uses. Leading packers were all on
the buying side and were assisted By a
revival OF outside speculation. The
wheat pit was deserted for corn and
provisions, hut the market continued
to be extremely erratlc. July covered
a range OF 5kc. closing at 81 10h, a
net loss OF Sic. July declined with
September to which month speculation
Is being transferred, closed at q net
gain OF 1Ac. Corn was helped by the
rise In provisions and closed at an adj
vance OF 1c for July and oats gained
&c. The provision market to-day shook
Off the lethargy under which It has
been laboring while grain markets
were rampant. 1t was a bull market
from start to finish and led oil others In
point Of speculative interest. No new
feature OF the phases OF the business
that are open to public inspection could
be dIscerned to account for the great
strength developed and 1t must there
fore be showed that something In the
internal working OF the packing busl-
ness had not until to-day been quite
ready for the move that has Its express
sion In the provision pit. All the large
packers took q hand In the buying. Ar
nour, Swift and the Cudahys were
said to be the heaviest purchasers. The
best buying OF the session was In lard.
AS this commodity is traded In by the
hundred weight, its advance OF Csc Is
equivalent 10 So Is per tierce. The local
run OF hogs was 5000. At principal
western packing points $4,000 head were
received against $1,000 q year ago. To-
ward the middle OF the session moder-
ate realizing sales caused temporary
reactions, but the highest rites OF the
day were prevailing at the close. July
pork closed at Sill STh. an advance Of
soc, lard at Sc IS or Csc up and ribs for
July at Sc 05. q net gain OF 45c.
A steady opening in the Liv-
erpool wheat market impaired q
better tone here at the start. Trading
was light July began at 81 12h@1 14is,
3lsc higher to 1Ec lower than yesterday.
and held steady around 81 Is for a time,
with little for sale below 81 Il. The
greater part Of the short interest in
July had, presumably been forced to
cover and traders were generally disin-
cllned to enter into fresh transactions.
Extreme nervousness still character
lied the business and fluctuations dur
ing the greater part Of the forenoon
were In straight half-cent jumps and
tumbles. LiquidationS again shortly
after the opening and from 81 Is It tum-
bled to 81 10. rallying rapidly to 81 13.
Realizing was attempted on every re-
covery and resulted in it gradually qui-
citing down around 81 II. Aside from
cables little Interest was manifested in
routine news. Chicago received GAG
cars, against &c n year ago. Minneapo-
lis and Duluth received 42l cars, COM
pared with 267 the previous year. Pri-
mary receipts aggregated S1S.09 BUSH
els, against q 1000 last year.. Seaboard
clearances were 800. 900 bushels wheat
and flour. Closing Liverpool cables
quoting declines Of Nd for May, Nd for
July and 2Bd for September, caused a
fresh decline here. July touched 81 09h
and rallied feebly, closing at 81 10h, a
net loss OF 3kc. May, which opened 10c
lower at 81 Is, recovered to 81 so, clos
ing &c net lower at 81 20. September
opened nc lower to Nc higher at 9O@9lc.
touched 9lbc, fell to 90%c and then rose
steadily to 9214e. 1t finished at 9lNc.
a net gain Of 1sc.
Trading in corn was brisk owing to
the migration OF scalpers from the
wheat pit. The provision boom helped.
Foreign demand cut quite a figure,
emphasized as It was by seaboard
clearances Of 923.00 bushels. Chicago
receipts were 5i7 cars. with 1877, 900
bushels taken from store. July got a
weak start at from X to &c under yes
terday's closing prices, but gained
steadily until near the close. The low
eso for July was 35&c and 1t rose to
SIC and closed ut 36ss936&c sellers, or
lc net gain for the day.
Oats covered q range Of only &c. but
ruled firm with corn. Chicago receipts
were 235 cars. July opened &c lower at
27c, sold up to 271s427%c and closed at
eric. a net advance OF nc.
Estimated receipts for Tomorrow:
Wheat 235 cars: corn SIS cars; oats
800 cars: hogs $4,000 head.
The leading futures ranged as follows:
Articles. Open. High. Low. Close.