The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-04-26
Days GRAIN MARKET
May Corn Feature of Specu-
IatiOn in Change.
WHEAT SHOWS ADVANCE
On Reported Damage Claims
and Moderate Receipts,

Chicago. April z5.-What looked like the
beginning OF the end O9 the Phillips Nay
corn deal was the feature Of speculation
on the change today. Though heavily
sold. this option closed only Is lower.
Wheat advanced on damage claims and
moderate receipts. May closing lie
higher. Oats closed unchanged and pro-
visions 1-2c to IL improved
The basic strength Of tbs corn market
Independent Of the manipulation which
has made speculation in the May deliv-
cry a nerve-raodng proposition as shown
/ by the yellow cereal during two day s
I session Of the board Of trade. Phillips.
( credited with attempting 20 run a corner
I sold at least 2eo0.0 600 bushels Of Nay corn
and in doing so showed how firm was
his hold on the market. Although 6uctu-
atoms were violent, the close found May
at Is, the price at which the bull leader
has admitted his willingness 10 sell.
Meanwhile he bought so much Of July as
he had sold OF the nearer future. The
market for May opened IA lower to s-s
n
house. through their representatives Of
fered Philips 4Sc for 100000 bushels OF
May and got it. Other shorts in wild
alarm tried 10 cover and sent the market
10 4e, the highest price OF the crop for
this delivery. in Re wminutes. Phillip
sold at the top and all tbs way down to
As. At this price his realizing stopped.
He left the pit for time and this gave
rise % a rumor that he had made pr
vate settlement with shorts. Fearing
that the market was about % collapse
as II did following the private settle
ment OF the November deal scattered
longs fastened TO unload and May broke
to # Il Phillips at this point reentered
the pit and a sharp rally 10 IS 3-S fol-
lowed. Later the market got back 20
Il IL. but again recovered and the close
was at 4sc, Is under yesterday. II Is es-
timated that the Phillips line OF May at
the close was about 3, e00. 900 II IS figured
that there viii be this amount here in
store May 1. and that It viii be delivered
10 him II is regarded as highly probable
that the last remnant OF the short inter
est took its medicine today. Today's re-
ceipts were 2 cars, the smallest IN years.
From this the general market derived
much OF its buIlishDess. May corn sold
between ~ rs and 40 IL and closed 4g3-S
higher at - Il
The market for wheat was active,
strong and the broadest in weeks. Nay
opened 1-sg1-4 lower at T2-T-s in sympathy
with an easy tone al Liverpool and be-
cause the weather was highly satisfac-
tory to farmers. LIBERAL sales were made
al the start but there was a demand for
much breadth that an attempt was made
10 get the stuff back. The market in
consequence rallied TO p SIS and later. in
fuenced by damage reports from Kansas
where it was said fly ravages were be-
ginning TO be apparent, crowded up to
73Q1-o. Realizing sales caused reaction
TO 2 S-s during the afternoon, but the
close was strong. 1-2c higher at = SIS
The cash market was dun. Sesboard
clearancss in wheat and -four, were equal
10 So, COO bushels, while primary receipts
were SO. 900 compared with 4A100 bushels
last year
Minneapolis and Duluth reported a to
tai of 2Il5 cars against 245 last week and
SO a year ago. Local receipts were 4s
cars, one OF contract grade Oats were
fairly active and firm in sympathy with
wheat and corn May sold between IS So
and % 7-sd27, and closed unchanged at
% 3-s. Elevators were the best buyers
early and bid the market UP. The clos
ing reaction was due TO profit taking. Re
ceipts were $50 cars.
Provisions were quiet but firm. IN sym
pathy with an advance in prices at the
yards Fluctuations were narrow. July
pork closed sc higher at sl457 Il: July
lard 1-2c95e up at sS97 ID and July
ribs Il improved az s7eT 1-2ds0o
Estimated receipts tomorrow: Wheat
IS cars; corn, 80 cars oats. p; hoks, D.
coo head