The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-01-27
BrcadstuGs and Provisions.

CEICAGO-Such an enormous bust
ness was done in the wheat pit to-day
has not had its counterpart the present
season and it is questionable IL us gen
eral and heavy a trade was made in a
day during the historic Letter deal. Az
crcssivc buying under the leadership OF
Wall street operators Mt one time dur
ing the day forced May wheat up +Ec
over yesterdays close. Heavy realizing
near the end Of the session caused a
reaction and May closed with Il net
gain Of efsc. Corn advanced &C and
oats AG5sc. Pork left off l5c higher and
lard and ribs 2isc each. se
The bullish sentiment in wheat which
got so we'll under way yesterday con-
tinued with increased energy at the
opening. Wheat lcapcd into the mir
with buoyant skip at the very start.
and offerings We're scarce at lGll5c
over yesterdays closing price. Even the
few traders who for minute or two
thought 1t worth while to risk to sell n
little short at such an advance soon
changed their minds ard found II Diff
cult TO rcinstate themselves at &c above
the top price OF Wednesday. Buying
orders from outside sources uerc NUM-
crous. urgent and apparently without
IDENTIFY confined for the most part to
local scalpcrs who had previously
bought ut lower prices. The crowd ap-
pearcd to have adopted the alleged
Wall street policy to buy wheat when
it is weak. buy 1t when 1t Is strong and
buy II all the time" May started Mt
from 76c to TGiac, sold in heavy amounts
for about fifteen minutes between the
opening figures and T57kc.Cho.ly around
'6hc. and then rose cSCitcdly 10 &c. In
a few mlDu;cs 1t reacted 20 I5Tsc on re-
alizinS OF profits by longs. then rose
again to &c, and some little brought
IKE on the second advance.
Liverpool was APPARENTLY forced into
recognition of the strength prevailing
here. shot wheat opencd Id up and fu-
lures from I'D to lId.
The figures of the grain movement In
comparison with those Of u year ago
were quite out Of line with the course
Of prices. except that at Atlantic port
clcaranccs OF wheat and flour were
more liberal. amounting to 49, 600 bush
els. Receipts here were li2 cars.
against twenty last year and Mlnncap
oils and Duluth got IS? cars. compared
with 25t for the corresponding day the
previous year. Aggregate receipts Il.
western primary markets We're reported
ut $4,000 bushels, whereas $4,000 bush
els was the total year ago.
Foreigners were largely short May
wheat here and In New York One COM
mission house That does n large foreign
speculative business was reported to
have called margins from European
customers up to soc brShcl. Many
European shorts were said to have sent
orders ito buy in" the wheat. The an
nounccmcnt of this caused the greatest
excitement. and rs orders kept coming
from all quarters to buy wheat, May
shot up TO 7aitc. That was n gain of
Aisc for the day and rs the majority OF
the traders had handsome DrOnts COM
Ing they took advantage OF the cvcitc-
mcnt to secure them. The LIQUIDATION
became 70 general that inside OF fifteen
minutes, May tumblcd back to 77%c, but
az quickly started on the UP turn
again. Tho advance was cut shor. by
the bell sounding the end OF the session
and May closed ut 777sc
There was broad general trade In
corn with prices strong under the IN
ilucncc Of wheat. Wall street Furnish
cd the bulk of buying orders. but any
material advance was checked by
heavy selling from the country. Re-
ceipts we're 5Ta ears, were large but any
effect this might have had wns offset
by the cgcc'lcnt export demand. tMay
opened Ae1hc higher nj aSfsGSS;sc, de-
clIned to 3Si+c. rose to 39ikc. then set
tied hack TO asstc sellers at the close.
Oats followed corn closely. paying