The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-06-12

New York Mining Stocks,
Breadstuffs and Provisions.

CHICAGO-The wheat market to-day
SCARED to the highest point since octo-
Der and closed 21SG2Nc higher than at
the close of business on Change Satur-
day. Continued drouth and crop dam
ages In the northwest were the factors.
Corn closed &c and oats hc lower. Pro
visions at the close were unchanged TO
2I5G5c depressed.
Wheat was excited and buoyant to-
day, and the pit a very busy place
even busIer than during the three pre-
ceding sessions. A huge amount of
trade was transacted. All the commits
sion houses had an extra number OF
brokers In the pit-jammed In, cram
med in, any way to get has one or
them put It. Fluctuations were wide.
Practically there was but one consider
ation--the situation of the spring crop
in the northwest. The frantic ad-
Vnnces, however, were tempered by
large profit realizing sales. Had 1t not
been for these sales the price might
have advanced right on through the
rough. Despite the stun put op the
market in this way, most Of the advance
was held. The fluctuations wera not
due to any changes in the crop ,situa-
ton, but depended upon the pressure of
sellers or buyers at the time. July
opened 1GD1Mc over Saturday ut 72h0
72lhc, and shot up to 737s07S9c early,
without q break. Realizing by longs
forced 1t back to 73sc, but following
the dip the market advanced aggress-
lively to &c, the highest price since Oc-
tober, when the Boer wnrIbegan. A
decline from this price to 1875 d13kc was
followed by n recovery to iiSA 9I3&c. On
the heels of this bulge, July dropped to
7SSc; then recovered tOt7SSS a 1S&c and
to wind up. dropped to 73kc. at which
the market closed, 2hd2kc over Sat
urday. At the opening the fact that the
northwest had received no rain over
Sunday was piece Of bull information
staring traders in the face. Rain had
fallen in moderate showers around the
drought stricken territory, but the
Dakotas and Minnesota were still dry.
To-dRy's signal service prediction held
forth no hope of relief. During the day
reports OF damages In the northwest
flooded the commission houses. The
burden of them was that an optimistic
view, promised less than half crop;
that a week more Of dry weather meant
the practical destruction of the crop.
With information of this sort close at
hand. foreign news was ignored COM
pletely. New York reported five loads
seaboard In wheat and -four were equal
to $4,000 bushels. Primary receipts ag-
gregated $4,000 bushels, compared with
/, l36, GOO bushels last year. Minneapolis
and Duluth reported 776 cars. against
92b last week and 976 year ago. Local
receipts were sixty-eight cars, none OF
which were of graded contract.
The corn market WIS quiet and al
though It showed some advance early
under the influence Of the wheat
strength lost It later and closed heavy.
Crop reports were as usual favorable
and country offerings decidedly frcer,
while the shipping demand was slack.
The seaboard was believed to be walt
ing for break In lake freightB. July
sold between 399sC and 3SAc, closing &c
down at 3S&c. Receipts here were 3I6
cars.
oats had there been no excitement
around them, might have been consid-
cred fairly active. The trade was not
large, The market showed some nd-
vance early in sympathy with wheat,
but rclinQuished It later. July sold he
tween 22K G22Ac and 22c, closing ut 22c.
Receipts here were 81 cars.
Provisions were dull and fcaturclcss,
closing rather easy. The market show
ed some steadlncss early in sympathy
with the wheat strength, but lost IL Ia
ter. The outside trade was small. July
pork sold between 81 S2lS and 81 72is.
ind closed unchanged ut 81 Is: July
lard between Sc 90 and SO S2iENG SO. clos
INK 2tsd5c lower at Sc S2aG6 So. and
July ribs between 50 S7Ik and 50 90, and
Sc S2isGG 81, with the close shade
down ut SO S2lsfiG So,
Estimated receipts tomorrow:
Whent. 1870 cars, corn. $50 cars oats,
$50 cars hogs. $4,000 head.
The leading futures ranged as follows: