The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-04-26
BUSHELS OF THE MAY
FUTURE
PRICE WENT OFF AN EIGHTH
Wheat Closed Lee Higher and Oats
hanged-ProVfsions Are
= E-205c to Lee High
er in Price.

CHICAGO. April 25.-What looked like
the beginning of the end Of the Phillips
May corn deal was the feature of specu-
lation on change today. Although heavily
sold uhis option closed only 1sc lower.
Wheat advanced on damage claims and
moderate receipts, May closing 12c higher.
Oats closed unchanged and provisions
212u5c TO TIC improved.
The basic strength of the corn market.
Independent of the manipulation which
has made speculation in the May de-
livery. nerve-racking sropos ton, was
shown bv the yellow cereal during to-
days session Of the Board Of Trade.
Phillips, the bull leader. sold at least
900 bu Of May. Although fluctuations
the price at which Phillips had admit III
his willingness to sell. Meanwhile he
bought July freely. The market for May
opened 14c lower to &c higher at 477sc to
4612c. A big elevator house, through its
representative offered Phillips 48c for
SEQ OC0 bu Of May and got it. Other shorts,
in Wild alarm. tried to cover, and sent
the market to 49c, the highest price Of the
top and all the way down to 4Sc. At
this price his realizing stopped. and this
gave rise to rumOr that he had made
a private settlement with shorts. Fearing
that the market was about to collapse.
as it did following the private settle
ment of the November deal, scattered
longs FASTENED to unload, and May broke
to 4I4c. Phillips at this point re-entered
the pit, and a sharp rally to 1880 follow
ed. Later the market got back to 471Sc,
but again recovered. and the close was at
4Sc, sc under yesterday. 1t was believed
by many traders that the last remnant
of the Nav short interest was eliminat-
ed today TOday'S receipts were 70 cars
the smallest in years. From this the
general market derived much of its bull
1fshness. July corn sold between 447sc
and 4515c, and closed H63sc higher at
4519c.
The market for wheat was active,
SfrOnor and the IN, ali
opened 1k@Ac lower at re to 7i7sc in sym
pathy with an easy tone at Liverpool and
because the weather was highly satisfac-
tory to farmers. Liberal sales were made
at the start. but there was a demand
of such breadth that an attempt was
made to get the stuff market The market
in consequence rallied to 725sc, and later
influenced by damage reports from Kan
saS, where, it was said, fly ravages. were
beginning to be apparent, moved I'D to 70
Ml3Ec. Realizing sales caused a reaction
close was strong. 15c higher at 7E5sc. The
cash market was dull. Seaboard clear
ances in wheat and -four were equal to
$4,000 bu. while primary receipts were
year Minneapolis { nd Duluth reported
total Of 215 cars, against 245 last week
and 80 year ago. Local receipts were IS
cars, one of contract grade
Oats were fairly active and firm in
sympathy with wheat and corn. May sold
between 263sc and 263SG127c and closed I'M
changed at 269sc. Elevators were the best
buyers. The closing reaction was due to
profit-taking. Receipts were 15s 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 $14 57B: July
lard, 21aG5c up at $S.O71l, and July ribs
71@c improved at 81. 97156S
The estimated receipts for tomorrow
are: Wheat. 40 cars; corn. 80 cars: oats.
22a cars and 10000 head Of hogs
The leading futures ranged as follows: