The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-01-25
Brendstufis and Provisions.

" CHlCAGO-Gne elaSt-te minutes or
to-day's session OF wheat were as lively
as during the days OF the Letter excite
mcnt. Opening at q sharp advance,
market dawdled along until near the
close. when the receipt Of news that
American warshlps had been ordered to
Havana started every short in the pit
for cover. There was no wheat for sale,
and the price shot up like the gush from
newly tapped gas well. The official
closing price for May was given at 9Shc,
q cent and half over Saturdays Close,
but before the crowd left the pit 9ic was
bid. July closed at S47sGS5c, an adj
vance OF Sc Corn and oats were dull,
but closed with slight advantage. Pro-
visions were strong, and showed closing
advances ranging from to Is cents. 3.
There was enough bull news to hand
at the opening in wheat TO start that
market stronger than for some time
past. Trading in May commenced at
from 92ss to 92Sc, and July from SAN
to 65c. showing an advance for both
months of about &c per bushel over
Saturdays closing prices. Liverpool
showed advances ranging from I'd 10
lid at the opening there, and they re-
ported market very strong, partly on ac-
count OF rapidly decreasing stocks. An
other bull encouragement was a reduce
ton equal to 12Ac in the Italian duty
on wheat. The offerings were quite lib
eral at the advance mentioned, and con-
tlnued SO for the greater part OF the
forenoon, but there was sufficient
number Of repentant shorts in the mar
ket to prevent any great reduction In
May. That option kept al! the forenoon
within the range established at the
start, except for a few moments after the
receipt OF the closing quotations from
foreign markets. N.was then found that
wheat In Paris for the March-June term
had advanced IS centlmes per kilos, or
the equal OF 2Ac per bushel. The result
OF that was to raise the price of May to
997sc. July was more susceptible to the
selling which followed the opening ad-
vances, and from S5c 1t declined 10 S4K
@SiSc, but recovered to SiH9S45sc on
buying started by the news from Paris.
Northwest receipts rather favored the
bears. Minneapolis and Duluth reported
total Of 425 cars, against $50 cars last
week and 1856 cars year ago. Chicago
receipts were % cars, only car of which
was contract grade. After noon prices
tended downward. until shortly before
the close, many holders taking profits.
May got down to s2isc and July size
But about ten Sminutes from the close
news OF the ordering of the United
States warship Maine to Havana was
circulated on the floor, and the pit In an
instant was In an uproar. Every short
in the pit started on Wild hunt for,
cnver. and the price shot up so quickly
ltfinally took their breath away. The
price had hardened TO 928G92Sc bid,
when Phelps, OF Milmine-B odman; bid
92&c for $4,000 bushels, and got 1t. He
Immediately followed by bid OF 92Tsc
for $4,000 bushels more, which no one
seemed to part with, and after that
there seemed TO be no mure for sale. and
every one wanted II, and kept raising
their bids until 1t brought 93%c. 1t
sagged for an instant, and 93hc was
given as the closing price. but the ex-
element continued until after the bell
rang, and before the crowd stopped
trading 9ic was paid for May. Shorts
in July were also scranbling, and that
option touched Soc ford the second
time. closing at s47s IS5c.
Corn was dull and heavy until near
the close. There was some professional
selling, enough to make the market
weak on the very small demand, caused
presumably, by the increasing visible
supply. The late jump In wheat caused
shorts to cover freely, and the market
was steady at the close. with n full re-
covery OF prices. May ranged from 200
29Mc TO 2S& 92STc, and closed 4 shade
higher at zoe. Z.
Market for oats was very slow, and
without Independence, prices following
the trend OF the corn market. There
was some buying OF. May for New York,
the demand being satisfied by elevator
concerns. The rest OF the business
was scattered, May ranged from 23Yc
to 23%c, and closed u shade higher at
235,c. Il
Provisions were firm all day and trade
was moderately active. a good adj
vance was scored early on the small hog
receipts. Prices cased on on reallsing,
but ruled strong again later, and closed
firm q outside prices Armour, was
credited with good deal OF buying. At,
the close May pork was Ice higher at
80 90; May lard &c higher at "a IS, and
May ribs Toe higher at 81 20. Isl
Estimated receipts Tuesday: Wheat,
40 cars; corn, 800 cars; oatsr $50 cars:
hogs. $4,000 head. y
Cash quotations were MS follows:
Flour--oulet. 81
Wheal-No. 2 spring ssh 9Soc; No. .,
spring S09Slc; No. 2 rcd 9iI9jc.
. Corn. No, 2 s27Q27hc: No, yellow
L27Q27Itc. ti3iI 35ts VI, N : AM
oats-No. 2 23e; No. . white 2l924Hc.
4 Ryc--No. 2 4iSc. Z 81 VS.
AZ Barley-No. Q 271Is I41o. w
Tlaxgeed-No. = 81 2791 o..