The Denison review. [volume] (Denison, Iowa) 1867-current, 1900-11-27
BIG INDEMNITY ASKED BAD FLOODS IN THE EAST CON SELLS At 5OCDlS
Phillips, Bull Leader, is Still
On Top.
FRIDAY ENDS THE CORNER.
Interval May Be Filled with Exciting Ex-
periences for Shorts, as Phillips Has
Power to Send the Price Much Higher.
Corn rendered is Rejected.

periences for Shorts, as Phillips Has
Power to Send the Price Much Higher.
Corn rendered is Rejected.
Chicago, Nov. 27.-November corn
touched 80 cents yesterday. 1t made
an advance of cents for the day, of
10 cents bushel for the week and of
almost 15 cents within four weeks.
Young Mr.. Phillips sold what corn
changed hands at that point; shorts
did the buying that advanced the mar
ket to the so cent quotation. The 8
cent advance over the close of last
week made the day the notable one
so far for the campaign. A roar and
a cheer gave notice of the half-dollar
achievement and there was 1ocking
toward the already overcrowded corn
pit from all over the floor. The tip
top figure was made in the first hour.
November starting at 46 cents, selling
between 46 and SO cents and closing
at 40 cents. The slight final recess
sion was, like the others which have
been experienced, brought about by
selling by the bull leader.
The man with the corner in the hol-
low of his hand is apparently not
ready to let it get away from him. He
has watched the speculative careers
of other men with corners and believes
that most of them lost because of
their greed to extort the last penny.
All morning the little corn king stood
on the edge of the pit and watched
the ebb and flow of the battle. When
ever the clamorous shorts howled up
tthe price in the face of unresponsive
takers he pushed to the front Of the
line and let out more corn.
Some of the dealers thought the ju-
venile looking speculator was in straits
and was running to wind up his string.
They jumped on the market and tried
to sell corn at 471a. Phillips turned in
stantly from seller to buyer, from bear
to bull and snapped up every man who
was offering to shade the price that
he was making. The decline stopped
at once. Phillips showed to the corn
pit that he was it's master; that he
could regulate it at will.
The receipts tor yesterday, including
| Sunday were more than 900 cars. Not
more than 10 per cent gfaded No. 2.
! Compared to the requirements for set
| tling day. this was not a drop in the
bucket. Advices from the corn belt
are that corn is damp and under
grade. Very little of the new crop
has been taken from the husk. The
rains of the past two weeks have
stopped outdoor operations.
The excited market was the unmis
taxable admission of the corn trade
that Phillips has ''cinch" on his cor
/ ner Some of the other brokers who
tried to nurse little corner in Novem
ber corn last summer, and who gol
tired about the time they had worked
| the bulk of the contract corn off thu
market and left smooth path for thei
successor, envy the little fellow, bu
they are not throwing anything in hi
j path.
4 Phillips conduct yesterday won hin
great praise Few men have been abl
to keep q cool head under like circum
stances. He parted with 100000 bush
els, about one-tenth of his holdings
He bought 100000 when the bears triet
to drag him off his pedestal. He mad
$4,000. Apparently he is going t
keep the settling prices around 5
cents. If the shorts are meditating
coup on the last day they may wake u
to find that Phillips has closed out hi
line. He claims now that he canno
be squeezed whatever may happer
AS long as he keeps on selling NOR
than he buys and holds the marke
down to 80 cents he is seemingly to
nimble to be crowded off the market wit
his corner. Other spectators hav
been broken by buying at Il big pric
in order to hold up the market an
playing out their funds on margins
George A. Seaverns is said to be gi,
ing aid to Phillips. Some think til
elevator man is backing his forme
employe in the trade. At any rate til
drying and cleaning house of Seavern
which, in the past, has been able
turn out contract corn with great raj
dity in times of stress, has not adde
bushel 20 the supply since the Phi
lips corner has developed.
IN. ~