The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-05-02
CHICAGO GRAIN MARKET.
may Corn and Oats Said to Be Cor.
nered and Show Heavy Gains.
May Corn Advanced lac, July Oats
Closed 1-S to "a lnprcyed--Provi-
sions Closed7 tr2 to i5c Higher.


grain pit was c strenuous one. Sharp ad-
yancrs were scored for delivery during the
present month. While July options showed
mtderntc strength. May corn and oats were
SAID 10 be cornercd ana showed at the
close gains uf ~ AMI III respectively. May
wheat rose y and July M@b. Jniy corn
closed skat1k aud July oats MGlA improved.
The provisions market was nrm, 1i20tl5
Improved ID prices.
rhe movement ~ prices and the charac-
ter Of trade apparently confirmed the pre-
viously existing belief that Mny corn had
been cornered. George II. Phillips, who
mas engineered the deal. paid cash for
100000 bushels. which were delivered 10
him ON May contracts. Prices at the open.
fng ranged from 40 TO 4S5s md IN tew
minutes touched 4sn. Phillips bid actively
TO check the decline or reaction which
seemed Imminent Scattered shorts, alarm
ed by this and further worried by strong
cables, sought to cover and hid the marker
up 10 10 high price for this delivery OF
the 1909 crop, by II o'clock he bun lead
err sold moderately ~ this price and
sharp break to 40 followed although actual
transactions were few. The remainder OF
the session Ainy held fraction over 81,
closed "A higher at j9iE The MAY deaf
Is said BY no means TO be over, although
todAy'H deliveries nearly wiped out the
quantity in store. It Is believed by many
TINT the manipulation viii be continued to
keep corn prices up TO aud during July.
The bull party has been heavy buyer Of
July options and did much in advancing
that delivery today. In this connection IL
was noted that No. corn, for bouadde
shipment under guarantee of not being
scaaercd again sold on speculative Goa.
trrots, was purchascable 81 JIy prices in
store, There appeared to be no shipping
demdud at these hgures. however. aud ,he
seaboard reported osly eleven loads takcn
for foreign shipment. Estimate an the
line Of long corn held hy Phillips aud his
following varied from L0O0o0U to 100000
bushels. Whether there are present short
lines stll out is a prodtless conjecture. So
mich depends on this that those who know
arc naturally silent aGunt IT, July corn
sold between fjIa aud 40 aud closed g.Gtgl
hlgher at 4Jn@l55s Receipts 23S cars
An nndelt9ne OF considerable strength
vas observable In the what market, IA.
though the best prices were held 10 tho
end OF the session, Tie fact that onl
l,Wu,ouD or tbercabouls were delivered ON
MAg contracts out of 9Onu.O0O bushels In
store showed that somewhere WAS held A
DeneI 10 the intense value OF this cerput
ADDED to this consideration was Il sharp
advance at Liverpool IN the face OF the lie
Cline yesterday, light Western Receipts
heavy ciearances and the strength OF IND
coarse grains. May was sold literally by
longs, but their holdings went to strong
hands. The advances tempted realig nu
which accounted for the reactions july
opened Mt l3kn73i5 to 1871 touched 80
rallied to IflS ana then declined to ig4
closing Adb higher ut T;|hm13A MAJ
opened at TN Ia 12h, sold between the
latter price at 13SsmTB& aud .cl0sed 8.
higher az 79'S. Local receipts as ears
u Gals manipulation, or fear of H. WEk
as potent as In corn. Deliveries ON NAV
contracts were fully l,710OO0 bushels out
OF total contract stock of . ,lnl 900 busn
els and Of the quantity delivered phlliins
who has been an aggressive bull In lie
market, took l,B0O.000 bushels, The corn
strength ana The continued demand from
elevator interest were additional fnctors
Trade was active throughout the day
Prnhi taking caused a fractional reaction
but the close was strong ! cent over YES
terday. Receipts lGG cars.
Proyisipps were Quiet hut strong Ia sym
pathy with the corn, strength ana hrnnpss
of the cash markct
Estimated receipts tomorrow. Wheat uA
cars, corn 30. oats $50, hogs 5000 head.
Inc leading futures ranged as follows;
Article. Open, High. Low Tloao