The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1904-02-05
MARKETS TODAY.
Wheat Is Up and Down Despite
War RumOrs.
Considerable Selling of Both
Corn and Wheat.
LIVE STOCK TRADE.
Native Steers Bring from $3.50
to $4.85 Today.
Cotton Is Much Demoralized,
Breaking 1870 Points.

Chicago, Feb. GENERALIZATION
narily rapid fluctuations marked today $
trading in the wheat pit and new high
record mark was established The
strength was only momentary, however,
and in spite of the critical war situation
heavy liquidation was the order of the
day. More favorable weather in the
the Pacific coast, induced liberal profit
taking of wheat for July delivery and
there was also heavy selling of the May
option. In consequence a violent reaction
occurred. A rush of buying orders at the
start caused May to open 3sQ12c lower to
1aQ5sc higher, at 95q96c, the latter figure
being 12c above the record price made
yesterday. After the first wave Of buy
ing enthusiasm had passed the market
quickly declined under enormous profit
taking sales. Within the first 10 minutes
May had sold off to 9S1ac, a drop of 215c
from the high point, while July had
fallen to S45s@84s4c, after opening shade
to 15G5sc lower, at S51sQS5s4c. The market
rallied somewhat later covering by
shorts and May advanced to SAC. Mime
apolis, Duluth and Chicago reported re-
ceipts of S61 cars, against 255 cars last
week.
The market was quiet and comparative
ly steady until near the end of the SeS-
sion. Additional war rumors caused a
fresh outbreak of enthusiasm within the
last few minutes of trading and the pit
was filed with buying orders. Prices ad-
vanced rapidly and the July option scored
! d victory in bringing up an S61so
mark, while May again sold up ptO 95c.
The latter option closed at 95c, a net loss
for the day of sake, but July was Ac
| n1Sher, at S31sQSbc.
CORN-Commission houses and local
longs were heavy sellers of corn on the
break in wheat and as q result the mar
! ket ruled weak. May opened unchanged
to 15c lower, at 5512@56c. There was con
| siderable excitement in the pit at the
start but a Quieter tone soon developed
and May steadied around 55ssc. Local re
ceiptS were 1879 cars.
After May had sold down to $3.50 the
market gradually worked its way up
ward War news late in the day accel-
Grated the advancing tendency and just
/ before the close May sold at 5614c ano
closed al 561sc, a gain of 1sc for the day
| OATS-OatS were lower on the weak
ness in wheat and corn May was of
1s01zc opening at 46d461sc. Under moder-
ate realizing by some of the large hold
ers the price declined to 4512c. Local re
ceipts We're 9S cars
| PROVISIONS-In provisions weaker
feeling prevailed. The decline was lee
| by May pork, which sold off to $13- 521a, at
ter opening unchanged to 212c lower, al
s1S. 7OQ13. 721a: May lard opened 21ac lower
at $7.571a@T.6O, later declining to S.;521&
ribs were unchanged, at sc lower. at $6.77A
| WHEAT-CaSh: No. red, SHd99c: NO
red, 90Q98c: No. hard. S5dS9c; No.
northern, SS@94c: No. spring, S9q94c.
CORN-No. 8, 441664514c; No. A, 40Q4S7ae
OATS-No. ?. 42c: No 8, A1zc.
| RYE-Feb, 6212c: May, 6412G65c.
| FsIAX-Cash: NV, $1.1S; S.-W., Sill
| Feb, Sill; May, STA
| TIMOTHY-Feb., S3.05; March, 10.
| CLOVER-Feb., 80 75d1100.
BARLEY-Cash: 3SQ60c-