The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-03-30
Days GRAIN MARKET
Strong Up Turn in Corn and
Activity in Oats.
NEW HIGH PRICE MARX
In Corn Which Closed at One
Cent Advance.
NEW HIGH PRICE MARX

Chicago, March ga strong upturn in
corn and the uprising activity Of the oats
market were the faaures Of speculative
trade on Change today. May corn at
tanned a new high price mark and closed
with q new advance Of lc. while oats
showed q gain Of sc. Wheat was dun.
but responded to the corn strength and
made a closing gain Of Z 10 SO
Provisions were erratic. closing 5f515o
higher 70 Ike lower. The corn pit was
Overlooking with traders at the opening.
and their eyes were fastened on George
Philips, who was said TO have control Of
the market or to be very close 20 a com
handing position. Light country offer
ings. desperate higher bids sent out last
night small receipts and diminishing pro-
portion Of contract grade in were the in
fuences which keep the builish blood cir
culatng. Philips, whose line Of long
stuff is variously estimated in the mill
ions met the tide Of buying orders which
came from nearly all quarters
The Philips selling carried in its wake
the other holders from traders who are
accustomed to follow him. The quanti-
ties tossed about were OF record breaking
volume. So broad was the demand. how
ever, that the intense pressure succeeded
fl forcing the market only 20 421zc- Here
Phillips ceased his liquidation In ac-
counting for Philips move it was said he
had been selling most Of his stuff 70 orok-
ers who were really his agents and that
be had attempted 10 shake OUT weak
longs and lent confidence to the bears 10
secure a hr1ner hold on the market An
other rumor had It that St. Louis inter
ests who were heavy buyers were max
ing an attempt to wreck The young oper-
ators throne il the corn pit from hin.
However true or false these reports may
have been Philips became a buyer before
the noon hour. This so alarmed shorts
that the market speedily reacted assist
ed the while by the buying Of outside PEG
pls whose buuishness was rampant all
day The advance failed TO orlng much
corn on the market. May advanced To
4zc during the afternoon, this being the
highest prices this season for May deliV-
err. and the close was buoyant, 1c over
yesterday at 435sc Jluy generally ruled
g shade under May. Cash bids were gen
orally out of lines with the bulge. Local
receipts numbered I'll cars, 13 Of contract
grade Gables were firm
oats broke from their usual narrow
path as the spec1Ia.--Ve r 0t
exhibited surprising strength and ANNA
tiou The recent llaIA4.. e
Ia the cash situation combined with the
corn strength were the factors May
sold ezriy al 251Gl.o. advanced later TO
25e.T7so on covering by shorts and closed
Sc higher ~ 2594c. Receipts were I'll cars
Today's shipping sales were put at 5000
bushels. while business OF this character
Yesterday was reported at 10000 bushels.
Wheat was duu AID neglected in favor
OF the greater attractions in neighboring
pits Trade was professional IN charac-
ter, the greater part OF the session and
the tone easy on the whole in conse-
euenoe Of liberal receipts, good crop pros
poets and the favorable weather May
sold between 752t and &c during the fore
noon ard later rallied 70 76i4c on export
sales At the sea0osrd and in sympa thy
with corn. The close foun1 the market
al sac. i4Gasc higher than yesterday s
anal figures. Shorts did most Of the
buying. such as il vas Exporters re-
ported 70 loads taken seaboard clear
ances IN wheat and -four we're equal %
SIS go bushels. while primary receipts az
grazated SIS goo bushels. compared with
ss4 last year. Minneapolis and Duluth re-
ported s7S cars against IA last week and
sSS a year ago. Local receipts were SO
cars. none Of contract grade, The board 8
cable made Argentine shipments Ls5S 300
bushels. half q million less than the prev
ious weeks and nearly 100000 bushels
under last years
Provisions started out heavy. because
western receipts were in excess Of the
number at hand the corresponding day o
wear ago and because prices at the stock
wards were somewhat easter The
strength Of corn came o the help q the
market later ard caused a recovery. ex-
cert In pork. which was "drasgy and
fa1ed to recover completely Nay pork
sod between SIS 4zls and BASS and closed
r-l-o down at Sl5 81. Nay lard between S
aso2i6 and $50. closing 5G7'ac higher at
5. g-i-T10 and May rios between SIS and
s. .iL with the close rec Up at $5oo
Estimated receipts tomorw. Wheat 8
cars. corn 80 cars, oats - cars hogs.
Is head