Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-02-17
MINING STOCKS.
PRODUCE.

Chicago, February 16.-Reports of
serious injury to wheat in California
from drought, to-day, together with ru-
mors of rioting in Paris, strengthened
prices in the wheat pit. After an early
decline of %@Ac, May wheat closed at
an advance of $s@12c. Corn left off
unchanged, and oats B@Mc lower.
Pork lost Toe, lard 2h@5c, and ribs sc.
Mflder weather and the price cur
rents statement that apparently but
little if any damage to the winter plant
had resulted from he recent low tenn
perature, gave wheat a weak start. May
opened &c lower at 1925 @72%c, and as
generous offerings in the way Of liqui-
dation of long property brought more
wheat on h market than could be
absorbed without making concessions,
the price slipped off to 72Bc during the
first half hours trading. The general
tenor OF the statistical situation was
rather favorable to the bears. Chicago
receipts were SO cars, compared with
(62 a year ago, and Minneapolis and Du-
luth got $50 carloads, against $50 the
corresponding day last year. Western
primary markets receipts aggregated
9,400 bushels. Exports from Atlantic
seaports, including wheat and flour,
were small, amounting to only 254 900
bushels. The decline to 72Kc was the
end OF the bears rope for the day. New
York did lot respond fully to the weak
ness here and soon there were rumOrs
of a distinctly bullish character that
completely changed the complexion OF
the market. Rioting in Paris, that was
given as the reason fer a break in the
price of cotton, also had a bullish eff
feet in wheat. The news, however,
that had most to do with the advance
that set in about an hour from the COM
mencement came from San Francisco.
1t was said in a message received from
there that owing to continued dry
weather the condition of wheat was
critical, and prices had advanced to-
day from l to 1Bc in consequence. The
recovering here was quite gradual for
a time, but the market gained in
strength as the session progressed, and
near the end May brought 1889, while
73Ac buyers was the closing price.
Corn met with free selling for the
short account and until May, which
opened Kc lower at 368 036%c, had
gotten under 36ac, the market received
very little support. At 363sc, however,
which was the low price of the session,
commission houses with eastern on
n%ectiOns became good buyers and a
steadier feeling developed. The ship
ping demand from here was at a stand
still. Receipts were 461 cars. After
the early dip the market held steady to
the end and May advanced to and
closed at 36%@36Bc. There was a
large business done in oats, and out
side orders were plentiful. The mar
ket was weak early on heavy selling
by an elevator concern who were rein
stating hedges taken off a short time
ago. Liberal buying by shippers later
in the day, however, caused a reaction
and the market remained strong during
the remainder of the session. Receipts
were 300 cars. May opened unchanged
at 283Bc. sold off to 27Hc, then improv-
ed to 28B02SHc, the closing figure.
Provisions opened steady but soon
began to give way to the influence of
heavy receipts of hogs and selling of
pork and ribs by packers. May pork
opened a shade lower at $10.02h, de-
clined to $3.50, then firmed UP to
SO. 1885 at the close. May lard
began unchanged at $5.621a @5.65, sold
off to $5.571a and closed at $3.50. May
ribs started 212c lower at $500, weak
ened to $4.92h, then improved to
$4.971a sellers, the closing price.
Estimated receipts for tomorrow:
Wheat, 70 cars; corn, 450 cars; oats,
$50 cars; hogs, 10000 head.