Barbour County index., 1900-12-05
GREAT CORN CORNER,


0u8 SpoCul0ooI
Running the Market.
PRICE FORCED TO FIFTY CENTS
Aorns From Bull to Bear and Makes =
fortune In Few Minutes-Action
OF the Appeal Committ...
CnJcago. lM.. Nov. 26.-Noyemhev
corn touched so cents today. pt mad .
an advance Of cents for the dav n
~ cents bushel for the week. and O
almost Is cents within four week,
Young Mr.. Phillips sold what corr
changed hands at that point; shoru
dfd the buying that advanced th,
market TO 50-cent Quotation.
Inc 5Jceut advance over the close o
Aso week made the day the noxabl.
ONE % mar tor the campaign. A rua,
ana "a cheer gave notice of the han
ooMar achievement, and there was ,
nocking toward the already over
crowded CORN pit from an over ths
MOOT The tiptop figure wac made IN
the first hour. November startling a,
40 cents, selling between 4s and 81
cents. and closing ut ~ cents. Tn,
slight final recession was. like tn.
Others which have been experienced
lenEler.
The man with the CORNER in the hof
BOW OF his hand is apparently mot
ready to let 1T get away from him. he
has watched the speculative careers u
other men with CORNERS and believes
that most of them lost because O.
their greed Ito extout THE lest penny
AM morning the little corn kins
stood on the edge of the pit and
watched the ebb and flow of the bathls
Whenever the chamorous shorts
howled up the price IN the face O.
unresponsive takers, he pushed to tn,
front of the lime and let out mon
corm~ Som of the dealers thought th,
Juvenile looking specu1ator was 9,
straits and was running to wind ur
his string. They jumped on the mar
ket and tried to sell corn ait 471f
GENTS. Phillips turned Instantly iron
seH1er TO buyer, from bear TO bull, and
snapped up every man who was offer
ing to shade the price THAI he wa1
making. The declSme stopped at onca
Phillips showed TO the corn pit thai
he was fits master; that he could uegu
late it. He bought 100000 when thu
bears tried to drag him cff his pedes
ta1, and made $1,000. Apparently h<
Is going to keep the settling price
around so cents.
If the "shor1te'' are medEtatfng q
coup on the last day, they may wake
up ito find that Phillips has closed out
his lime. He claims NOW that he cam
upt be squeezed. whatever may hap.
penl AS cong as he keeps on SELLING
more than he buys and holds the mar.
let down ITO so cents. fe is seemingly
too nimble to be crowded off the mar.
ket with his corner Other speculators
have been broken by buying at big
price in order to hold up the marked
and paying out their funds ON mar.
gins.
George A. Seaverns is said ito be Civ
ing aid to Phillips. Some thifnls the
elevator man is backing his former
employe in the TRADE. At any rate
The drying and cleaning house Of
Seawerns, which in the past has been
able to tunn out contract corn with
great r+apidity ftn times of stress. ha,
not added bushel to the supply
since the Phillips corner has devel
opeA Mr.. Seaverns' inactivity is MOI
credited to pure bemevohence i'm thu
vuccees of his former employe.
Today's price of corn is the highcR
since june 1898, when a predicted
famine ran up the price for cash corn
December corn felt the infu'ence os
the short grading IN November and
went up half a oemt over Saturday.
The fellows who tried to get some
of the corn kings money in the delu
sion that he wais Weakening are now
wondering where they win get of on
Friday. The closing price was N
CENTS, reaction due 10 Phillips buy
ing.
Tt was significant 10 some traders
that the firms who are reputed to be
art the MERCY Of Philips have not
given any sign of extreme worry.
They have not shown their hands In
the pit They are watching affairs a.
closely ae the king Of the golden
cereal. There is still SOME talk Of
special trains coming from the
good the obligations 20 Phillips. To
Unc OuISltlSI UnCTW Is TlO SIX IA tuAs
predicted movement.
The receipts for the day. including
Sunday, were more than 900 CARS; mot
more than 10 per cent graded No. ,.
Compared to the requirements for
settling day, this was not a drop IN
the bucket Advices from the corn
belt are that CORN b damp and under
grade Very iittie Of the mew crop
has been taken from the husk. The
rains of the past two weeks have
stopped outdoor operations.
The excitement was an unmiabalnabls
admission of the CORN trade that
Phillips has "cinch" ON his corner.
Some of the other brokers who tried
to nurse a little corner in November
last summer, and who got tired abou4
the time they had worked the bulk OF
the contract corn Of the market and
left smooth path for their successor.
envy the little fellow, burt they are
not throwing anything in his path.
Phillips conduct today won Mm
great praise. Few mem have been
able to keep a cool head under kke
circumstances. He parted with 3oo,-