The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1900-11-27
WARREN M.CROSBY ace
10 DRY GOODS
Anniversary and
Thanksgiving Sale.
Nothing Like the Prices ON Goods
Crowds FOR Goods, OF Sale OF Goods.

achievement ana there was a hooking
toward the already overcrOwded corn pit
from all over the floor The tiptop fig
ure was made in the first hour.
November starting at 46 cents, selling
~ cents The slight final recession was
like the others which have been exper-
fenced been brought by selling by the
bull leader.
of his hand is apparently not ready to
let it get away from him. He has watch
ed the speculative careers of other men
with corners and believes that most OF
them lost because of their greed to ex-
tort 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. Whenever the clamoroUs
shorts howled the 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 juv-
emile looking Spectator was IN straits
and was running to wind up his string.
They jumped on the market and tried to
sell corn at 471a cents Phillips turned
instantly 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 its master, that he could
regulate at will. The fellows who tried
to get some of the corn kings money in
the delusion that he was weakening are
now wondering where they will get off
on Friday.
The closing price was 40 cents, a re-
duction due to Phillips buying. It was
significant to some traders that 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 pit. They are
watching affairs as closely as the king
of the golden cereal. There is still some
talk of special trains coming from the
country with corn enough to make good
the obligations to Phillips. To the out
movement The receipts for the day in
Guiding Sunday were more than 900 cars:
not more than 10 per cent graded No. =
Compared to the requirements for SET
ting 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 opera
tons
The excited market was the unmistak-
able admission OF the corn trade that
Phillips has a "cinch" on his corner.
Some Of the other brokers who tried to
nurse d little corner in November corn
last summer, and who got tired about
the time they had worked the bulk Of
the contract corn off the market and left
a smooth path for their successor, envy
the little fellow. but they are not throw
ing anything in his path
Phillips conduct won him great praise.
Few men have been able to keep a cool
head under like circumstances. He part
ed with 100000 bushels, about One-tenth
of his holdings. He bought 100000 when
others tried to drag him off his pedestal
He made $4,000 Apparently he is going
to keep the settling price about 80 cents.
If the shorts are meditating a coup ON
the last day they may wake up to find
that Phillips has closed out his line He
claims now that he can not be squeezed.
whatever may happen. AS long as he
keeps on selling more than he buys and
holds the market down to so cents he is
seemingly too nimble to be crowded off
the market with his corner. Other spec
ulators have been broken by buying a a
big price in order to hold up the market
and paying out their funds on margins.
Geo. A SeaEerns is said to be giving
aid to Phillips. Some think the elevator
man is backing his former eTnpl0ye in
the trade. At any rate, the drying and
cleaning house of Seaverns which in the
past has been able to turn out contract
corn with great rapidity in times of
stress has not added a bushel to the
supply since the Phillips corner has de-
veloped- Mr. Seaverns' inactivity is not
credited to pure benevolence in the sue
cess Of his former emplOye.
The price of corn is the highest since
June. 1895, when a predicted famine ran
up the price for cash corn. December
corn felt the influence of the short grad
ing in November and went up half
cent over Saturday.