The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-03-16
New York MINING Stock.


cHIcAGo-Both wheat and corn
took step In the wrong direction to-
day, wheat closing nc lower and corn
at decline Of &c. Wheat scalpers
sold in anticipation of heavy Argentine
shipments, light clearances but weak
ness Of corn also depressed the mar
ket. The decline in corn was due main
ly to influence liquidation. Oats closed
quiet and provisions quiet to sc lower.
The early trading in wheat was not
marked by any degree of activity or
any marked tone. The opening for
May was at ss%@ssMc, a decline OF
A9%c from yesterday, the slight loss
being due In part to disappointment
over the reluctant response OF the LIv-
erpool market to yesterdays advance
here. The loss was recovered almost
Immediately. May advancing to 66Ac
under covering by local shorts, but be-
fore II o'clock weakness again devel-
oped, and kept prices on the down
grade for nearly an hour. During this
part Of the session the foreign demand
for American wheat was reported poor,
while expectations Of heavy Argentine
wheat shipments tomorrow, feature
which has knocked good fractions of Of
the price of wheat for three successive
Fridays, resulted in considerable short
selling, the theory being that to-mor-
rows opening would show q decline.
About noon, however, the market turn
ed quite strong on rumOrs OF crop dnmr
age and the price which had In the
meantime fallen on to about G6l416s%c;
advanced to &c. But this was the price
that heavy holders had apparently
been waiting for. and offerings became
so heavy that &c was knocked on May
figures in hurry. At 66&c u good de-
mand existed but the market held
steady at around that figures for some
time. REPORTS OF good demand for eX-
port at outside shipping points having
considerable influence. Shortly before
the close, however, realizing sales, and
unensinesss over the weakness OF corn
caused another decline and the tone
during the last few minutes trading
was one OF weakness. May eosed on to
661Sc and closed at 66hc. Chicago re-
ceipts were 90 cars. Northwest receipts
were 562 cars, compared with 52i last
week and 279 n year ago. Total primary
receipts were $4,000 bushels. Atlantic
port clearancea amounted to only 1885,
600 bushels.
Corn was only moderately active.
Early In the session there were indica-
lions that influential holders were dis
posing OF their lines OF May and buying
July, and this resulted In considerable
liquidation and short selling. The be.
lief TINT n reaction was due, augment
ed the selling movement, Heavy clear
nnces had a stendying influence later.
early sellers turning buyers, but to-
ward the close the market again devel-
oped a tendency to decline and the
close was rather easy. Receipts were
36I cars. May ranged from 3Iisd31Ac,
and closed &c lower at 37hdSIAc.
Trading in oats was almost without
feature and was on a small scale MI
day. This, in fact, was the principal
depressing feature. A report Of $4,000
bushels being engaged for export crea.
ted q IanguId interest later, but had
little effect on prices. Receipts were
80 cars. May ranged from 2Sbg24c'
and closed unchanged at 2SAc.
Provisions were moderately active
and rather Inactive within small
range. Packers were fair sellers, but
the pit traders showed n disposition to
cover short sales. which, with some
commission house buying, kept the
market fairly atendy most OF the sess-
ion, At the close May pork was DC low