Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-04-07
PRODUCE.

Chicago. April 6.-Wheat to-day,
after breaking &c a bushel on the clos
ing ont Of q, number OF heavy lons
lines recovered to within Sc OF Mon
DAVIS closing price on the announce
ment of the postponement OF the Pres
ident's message to Congress. Inc
news of the postponement greatly re-
lieved the selling pressure. Corn and
oats were steady with scarcely any
change for the day. Provisions were
firm early. but closed irregular. PORK
at small advance, and lard and ribs
5@71ac lower.
The highest prices reached on yes
terday's curb were quoted lor July
wheat at the opening to-day, Juiy
starting all the way from Soc to so12c,
gainst Mondays closing price OF soA
@ssc.
For the first fifteen or twenty MIN
utes trading it was difficult to Ill the
short covering orders which poured IN
from loca, and outside sources. Most
of this was in small lots, but st. Louis
was a heavy buyer in covering import
ant short lines. The strength at the
start was apparently mostly due to
the foreign news. Liverpool being
about g, pence higher, while Odessa
reported Russian wheat advancing on
the war PROSPECTS. Continental mar
kets also showed strength and London
reported the continent as buyer OF
IA of the II cargoes Off coast. The
northwest movement was light, Mime
apolis and Duluth reporting receipts
Of 253 cars, compared with 33S last
week and 263 year ago. Chicago re-
ceipts were 161 cars for two days.
Additions to contract stock were
more moderate. Sc cars from regular
sources and 20 cars from mining
houses. total of about $4,000 bushels
The advance which marked the open
ing soon brought large quantities OF
long wheat onto the market, several
important lines being offered by prom
inent professionals and after the more
pressing wants of the shorts had been
satisfied. the market began to decline
slowly but surely The recesSiOnal
movement continued for nearly two
hours. during which time July was
hammered down to S434c without any
reaction of note. The firmness OF the
closing Liverpool and continental
cables and heavy purchases by COM
mission houses stopped the decline at
that point and caused rally before
noon to S5c. when another spell OF
weakness, due partially to the COM
paratively low prices paid for cargOes
at London, resulted in a drop to 85ss
MAc The decline was accompanied
by a renewal Of the~infuential liqui-
dation Mich marked the early weak
ness. and the market up to within half
an hour of the close showed consid-
cradle weakness. News that the Pres
ident's message would not be sent to
Congress before Monday relieved the
pressure toward the close, and a stead
Ter feeling gradually manifested itself.
liquidation dropping off to great eX
tent Better support was given and
the market recovered to S5Ac July
closed at S47s@Soc.
The action OF corn was governed
chiefly by wheat The market was
quite active and strong during the
morning but the decline in wheat and
freee country offerings. with prospects
of more favorable weather, brought
about a slow decline. Firm cables
were an early influence. The market
became very dull late in the dav. May
ranged from 2a7sc to 2S12c and closed
unchanged at 297sc.
Cats were fairly active in a general
way. with prices Influenced mainly by
the action Of wheat and corn. Shorts
were good buyers earlv Offerings be-
came freezer during the decline in
wheat mostly in the way of realizing.
the close being steady at about I'M
changed nrices. May ranged from
e5ac to o5asc. and closed at 261a@
25skc.
Provisions were irregular, starting
weak and lower on account OF lower
hog nrices: the market quickly rallied
on liberal purchases by packers and
others. hut during the latter part OF
the session the selling was heavy, the
only influence apparently heing the
drop in the grain markets. More pres
sure was put on lard and ri1s than