Hutchinson gazette. [volume] (Hutchinson, Kan.) 1895-1902, 1900-11-29
GREAT CORN CORNER,
Phillips tho Daring SpeculatoI
Running the Market.
PRICE FORCED TO FIFTY CENTS.
He Turns From Hull TO Hear and Makes q
Fortune In u Few Mlnutes--Aetlon
OF tho Appeal Committee.

NhphgO, pl,, NOV 2O.-NOVembeI
conn touched 30 cents today. Ut made
an advance Of cents for the day, 81
10 cents a bushel for the week, and q
almost Is cents Within four weeks
Young Mr. Phillips SOLD what corr
changed hands mt that point; shor,l
did the buying That advanced thu
market to 50.cent quotation,
The 5!cent advance over the close o.
last week made the day the notable
one 40 Gar for the campaign. A rOai
and u cheer gave notice of the hal
dopDnr achievement, and there WAS 1
Hooking toward the already over
crowded corn pit from an over tn
floor The tiptop figure was made n
the first hour, November startling n
40 cents, selling between 40 and 81
CENTS, and closing Mt 40 cents. Tn,
slight final recessior was, like tn,
Others which have been experienced
brought about by selling by the bull
legVlpr
The man with the corner in the hol
how of his hand Is apparently MOI
ready to let It get away from him, III
has Watched the speculative careers D
other men with CORNERS nnl believe!
that NEST of them lost becarre O'
thel' greed ITO eXtcrt The last penny
All morning the little corn klnf
stood on the edge OF the pit ant
watched the ebb and flow Of the battle
Whenever the camorous Shorts
howled up the price I'm the face oil
unrespOnsive takers. he pushed 10 the
front OF the line and Yet out more
conn. Som of the dealers thought the
Juvenile. looking sneculator was N
sirahs and WIS running to wind up
his string. They jumped on the mar,
Let and tried to sell corn OIt AN
ceNts Phillips turned ins'antly from
schiller TO buyer, from bear to BULL and
snupped up every MAN who was offer
mo to ,,llaslc The price that he war
making. The. decine stopped ut once
Phillips showed NO the corn pit thai
he Was ITS master; that he cou'W regu'
late 1t. He bought 100000 when thu
bears tried to drag him off his pedes
tel. and made $4,000. AbpnrentE HI
IS going TO keep the setiling prlc'
around 50 cents
If the Shorts" are med'tallng a
coup on the last Hqv, they may wake
ND TO find that Phillips has closed out
his Time. He claims NOW that he oan
NOT be squeezed. whatever may hap
penl As hong MS he keeps cn selling
more than he buys and holds the mar
kft down no 80 cents, he is seemingly
too nimbp TO be crowded or the mar
kpL with his corner Other spectators
have been broken by buying at big
price In order to hold up the market
ana paying out their funld' on mar
gins,
George A. Selavenne Is said to I've CIV
ing ahtl to Phillips Some think thu
elevator man is backing his former
employe in the TRADE Az any rate,
Che drying and cleaning ho'use OF
Seaverns, which in the past has been
able to turn out contract corn with
great n'apldhy I'm times Of stress, has
not added bushel TO the supply
SINCE the PhA,ips CORNER has dcveI
opeA Mr.. Seaverns inactivity is not
credited TO pure benevoDence i'm the
success Of his former empIoye,
Tcdav's price Of corn Is the hlGhes
since June. tSO5. when q predicted
famine ran up the price for cash corn,
December corn fe,t the imfuence OF
the short grading in November and
went up half a cent over Saturday,
The fellows who tried TO get some
OF the corn kings money in the dIel'
sion that he was weakening, are now
wondering where they will get Oft on
Friday. The closing price WAS ~
ce,rcs, reaction due to Phillips buy
ing,
II was Significant 10 some traders
rha,t the firms who are reputed to be
at the mercy Of Phillips have not
given any sign of extreme worry
They have not shown their hands in
the rit. They are Watching affairs as
closely Wis the king Of THE golden
cfmenl. There rs stlll some talk OF
special trains coming from the
country with corn enough t'O make
good the Obligations to Philips. TO
the outsider there Is no sign CT this
predicted movement
The receipts for the day, including
Sunday, were more than OOo cans; NOT
more than 10 per cent graded No, =
T,.......,,o,1 ~ tho rnnuirpinpnIS for