The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-01-17


CHIcAGO-Both sides found encour-
agenent In to-day's wheat news, but
the bulls finally gained control OF the
market and after many vicissitudcs May
closed at BGAc advance. Corn left off
HGMc higher, and oats unchanged.
Pork and ribs gained 2E@c each, and Ia:d
&c.
a heavy shrinkage in the output from
Russian and Danubian ports for last
week started wheat strong. May opened
A48c higher at 7l%@7iIGc, and met
with such heavy coverings BIZ shorts
together with buying for the long ac-
count that In few minutes the price
reached IlSc. The next matter to re-
ceive attention was the prospect OF an
increase in the visible supply. indlca-
tons OF which began to appear as the
result Of stock-taking at the various
centers was made known. It looked Mt
one time as II the increase would
amount to 100000 bushels, and on that
probability May gradually sold down
TO I01sc. AS the increase proved 10 be
but $4,000 bushels, shade OF confidence
again commenced TO dlruse Itself
Throughout the pit. and May was bid up
to 7l%97likc.
Chicago received 900 cars. of which
II graded contract. Minneapolis and
Duluth receipts we're TS2 cnrs, against
535 the corresponding daE- OF last year.
The quantity ai!oat for Europe was re-
cuced l.OiiG0O bushels since Monday.
Argentine adv!ces were OF an eXportahle
surplus OF G0,O00,0G0 bushels OF wheat of
Seod quality, aad as the aggregate OF
Whp1f tttsa AZ
amounted TO $1,000 bushels against 522,-
900 bushels year ago. the bears had
al inning and May was forced down 10
I0sGI0&c. This was under under puts
and immediately started buying by
holders OF those privileges, and with the
help OF q few outside buying orders May
gradually worked UP 10 TlAc, with many
changes between tic sellers ard ike
bid. The cash demand here was slow
and the Atlantic port clea-ances OF
wheat and flour ware placed At 47S,0
bushels. Liverpool and the continental
markets closed strong IN the face OF IN
increase In the English visible supply of
1851, 600 bushels. Toward the end lonEs
showed q desire 10 Increase the!r hold
ings. and as shorts were anxious to OBJ
ltcrate their record May was bid up 20
lA0Ilasc and remained at that figure
until the close. The strength In wheat
and receipts away below estimates
started corn firm. The advance, how
ever, met with heavy selling by a prom
lnent shipping concern, and the mar
ket soon turned weak. Local stocks
showed an Increase Of 9S4 900 bushels for
the week, and the visible supply In
creascd-:,i.7,gOO bushels. Receipts were
9JS cars.
Scattered buying gradually developed
n steady feeling, and In the last fifteen
minutes the, market became very strong
and touched the highest price made
near the start. May opened &c higher
ut 37Ac. declined TO S6kc, and after be-
ing At SIC sellers most OF the day It
suddenly shot UP TO 3I1!c and closed u;
37h037Ac. '
Oats started Hrm with the other
grains. Prices eased OF for u while On
heavy selling. but when the offerings
were finally absorbed the market turned
strong and closed near the top for the
day. Receipts were lc-ge-35O cars. May
opened &c higher at 27TaGoSc. declined
TO 27&c, then frned up 10 2TT I9IEc.
the closing price.
: Provisions opened strong. but there
was considerably more FOR snlc than
appeared TO be wanted for while, mud
prices declined, 10 Il trile below Salur-
days level. Near the end OF the session
the publication OF las. weeks SHIPMENTS
of meats were SO heavy rs TO induce
enough buying 10 cause II rail-: all
around. May pork opened &c higher nj
5000, rose to slO.29h. declined 30 sl0.07l,s.