Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-07-21
MINING STOCKS.
PRODUCE.

Chicago, July pa condition or
softness in wheat to-day acquired from
last nights rain was hardened by re-
ports of frost in the northwest. Sep
TENDER closed A@Ac lower and De-
cember lost &c Corn left off I'M
changed. Oats advanced 1sc. Pork
quit TIC higher, lard and ribs are up
2A@5c.
The lower temperature in the spring
wheat territory following last nights
rain, together with the early declines
in corn, started wheat weak. Business
during the first part of the session was
dull and the undertone bearish. The
argument was urged that our export
! surplus would be of such magnitude
and the foreign demand so restricted
that it was likely to glut the market
and lower prices would be inevitable.
Another factor which served to weaken
bull confidence was Broomhall's figures
showing the worlds wheat crop this
year likely to be 100000, 600 bushels
above requirements. On this sort Of
reckoning, September, which opened Nc
lower at 677s@68c, sold off to 67hc.
Then came reaction on the announce
ment of the signal service bureau of
the probability Of frosts tonight in the
northern sections of the wheat belt.
In addition to the frost predictions
the bulls got some encouragement from
the primary market receipts of the new
wheat being too light to injuriously
affect the price of the cash article.
There was also report that crops
abroad were less favorable as severe
storms in Hungary had damaged the
crops there from 5000, 900 to 10000, 900
bushels. Chicago received 81 cars, SO
Of which were new. Minneapolis and
Duluth got 60 carloads compared with
29S year ago. The total receipts at
the principal primary western markets
were 414,0G0 bushels against 1885, 900
bushels the similar day of last year
The Atlantic port clearances of wheat
and -four equaled 1862, 900 bushels
September opened 1ac down at 677s
@6Sc, weakened to 671ac, rallied to
6S1a @685sc, then reacted to 6SAc bid
at the close. December started 3s@5sc
lower at 677s 06S1sc, sold off to e75sc,
up to 681ac, then down to $3.50 asked,
the closing price.
Every commission house appeared to
have selling orders for corn at the
opening and the lower prices trading
commenced with, appeared also to
bring numerous stop loss orders on the
market. Rain throughout a large sec
ton of the western corn country was
the cause of the weakness at the start
This was all changed later, however
when the weather bureaus report of
possible light frosts in northern sec
tons of the corn belt was received
cd .,o he
taking on extensive lines and holders
Of puts" bought freely. 1t did not
take long with this buying to absorb
the offerings, and as sellers gradually
drew out the market made an advanc-
ing tendency. September opened 40
&c lower at 1924 @33c, sold up grad
ually to 335s@33%c, then reacted to
331ac bid, the closing figure.
Oats held steady on good buying by
commission houses and responded
promptly when corn rallied Septem-
Der began 1s@Ac lower at 1875 019kc,
back to 1910 at the close
Provisions had a weak start on &C
count of lower quotations for hogs and
the decline in corn. Offerings were.
however, small. and very little buying
sufficed to take all that was for sale
ard as a result the decline that inaug-
urated the days business was easily
overcome. There were rumors of
large government contract for cured
meats. September pork began 215G5c
lower at s9.82b G9.S5. rose to s9.971b.
then down to 1896. the closing figure.
The range in lard and ribs vas narrow.
Estimated receipts for tomorrow:
Wheat 90 cars corn $50 cars, oats AS
cars, hogs $4,000 head
The leading futures ranged as follows: