The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-02-26
BEARS WERE CAUTIOUS.
Improvement In Wall Street Was
Reflected 10 Wheat,
NEWS WAS or a MIXED CHARACTER.
liverpool Lower, Argentine Ex-
ports Heavier Than Expected
ana Receipts Quite Liberal.

Chicago, February % The improved tone
OF Wall street was reflected In wheat Tor
time today and substantial advances over yes
terdny's closing prices we're recorded. Weak
ness Mt Liverpool and lack Of Influential sup
port bfushod this aside later and made closing
declines OF AsIissc The other markets fol-
lowed closely the course of wheat being
strong early and weak later Corn declined
15c; oats closed practically unchanged and
provisions declined 2isc for lard and ribs and
1Iisc for pork.
Tho opening tone In wheat was somewhat
irregular. May was quito weak, opening Mdb
&c lower at from 81 o3js to s1.0i and selling
down inside Of a minute or so to sI02is, then
raIlying quickly To 81 o3ls- July was by no
means steady though not displaying the flne-
tua,ions in May. Tho opening was at s9%G
s9JS, whore IL hositutod for a short time, then
slowly advanced to oOBc.
Though news was OF mixed character,
that having bearish tendency was appar-
emily given the most attention at the start
Liverpool was lower, though not enough TO
cause much fresh selling here. Northwest
receipts were 2S7 cars against 2i5 last week
and $50 d year ngo. Chicago receipts were IS
cars. Tue most important bcarish news was
the Argentine shipments, which amounted last
week to l 400 900 bushels, which was far from
bearing out the statements that the exportabic
surplus OF that country would not exceed 80
oe0,ooo bushels. After the FIRST minute or so
OF trading, however, this sort OF news was
lost sight of. The confident tone OF wall
street and tho prospects of better. prices In
the market exerted better Influence on
wheat which also assumed better tone.
Fear of a buying furry which might nun
ish short sales caused hedging by the moro
conservative bears. July developed more
strength than did May aud more trading was
N hat dali "A advance
July TO eo3a took place, Mag meanwhile get
ting up " - o39s- long period nj dnllness
followed but realizing by smaller traders
caused reactions To 9Oli
After noon prices gradually tended down
ward. The crowd had apparently got covered
on July aud the market developed benrish..
ness. At soc for July the market received
some support but the market went 10 S9hW
S99s after the buying ceased. In the last halr
hour cf trading the market became very weak.
A sharp break in California wheat Mt Liver
poolA Of 2isd was talked of a good deal and
helped to start selling again. AS no influen-
ta support was forthcoming the decline was
rnpid Why finally got down to S9% and
| Corn early was firm. The market opened
| with strong tone ON buying, many of yes
ietday's sellers buying back their lines and
! prices showed n substantial advance. The
strength of wheat was the principal iuflu-
| ence
| when wheat turned weak corn followed
rapidly. short gollinE hning quite prevalent.
| Heavy export engagements were influential
| IN the curly hrmness.
| The oats market was firm and strong
early. Strength in wheat and corn caused
good buying. The later declines in other
grains WINS followed ~ once by oats, all the
| advance being lost
| In provisions there was tho same DISPOSE
| ton to cover etuif sold yesterday MS in grain
| Pork WAS especially weak near the close
| May pork closed l5o lower, lard 2la and ribs
! ego iowor.
| Estimated receipts tomorrow Wheat t0o
corn 625, oats $50 cars and hogs $4,000 head
Inc lnndlns rutnIss Ih,leef az iollow-.