The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1901-04-25

? ROFIT OF 100000.
Stopped Selling When Price
Fell to IS Cents.

Chicago, April 25.-There were indica-
tons on change today that George H.
Phillips, the young leader Of the corn
bulls, was changing his interest in corn
from May to July. He has been cred
tied with controlling for himself and
customers a line of seven million bush
els of May. It has been almost impossi-
BILE to buy this option during the last
few days, but during the forenoon to-
day Phillips sold between two and three
million bushels. At the same time he
bought heavily for delivery in July.
which sold from two to nearly three
cents cheaper than May.
On the May corn sold he is said to
have a profit apprOximating 5000. Goo
As a reason for buying the latter future
he claimed that corn IN July would be
worth even more than it is now, owing
to depleted country stocks. In connec-
ton with this assertion he pointed to
the fact that today's receipts here, 72
cars, are the smallest in years.
The price fluctuations of the May OPP
ton We're violent, but in view of the
enormous sales by Phillips, indicated
great inherent strength in the market
May opened Il c lower to 3sc higher than
yesterday, at 475sc to 4S1ac, and under
bidding by Phillips bounded in a few
minutes to 4Sc. the highest price of the
crop for this delivery. At this point the
bull leader turned seller. He disposed
d
4S15c, and later he announced he would
sell any amount at 4Sc. Other longs be-
lieving the market was about to coll
lapse, rushed to unload, and May then
broke to 47i4c- Phillips, however, stood
to his guns and offered no more till a
rally to 48c had taken place. The mar
ket closed at 48c, the mark set by Phil
lips.
Chicago. April 25.-CORN-The corn
market opened wild today, May selling
Fq 4es 70 aSsc re loTer e 2se hgae
Phillips, the bull leader, bid the market
very little. Following. this. he let go Of
100000 bu. at 4S15c. and at he end of the
market to 477sc- At this price he. seemed
to be willing. to sell to anybody who
wanted Il. His sales during the first hour
Later in the day May broke to 471zc on
realizing sales by Philips; which started
action. however, and the close was firm,
WHEA T-Under the influence of easy
cables and good weather there was a
rush TO sell wheat at the opening. and
decline of 3s to re Shorts and others
who sympathize with the corn strength
took everything so easily. however. that
offerings suddenly ceased. and. May rail-
lied sharply to 72ssc- Local receipts were
and Duluth reported a total of 215 cars,
against 24B last week and $40 year ago.
reported damages from fly.
May later advanced to 7301sc. Profit
taking sent the market back to 72ssc. but
tho close was strong, &c higher. at 72ssc.
OATS-Qats were active and strong on
a cash demand and in sympathy with
other grains. May opened &c higher at
2s1@c and sold to 265sc- Receipts were 159
cars.
PROVISIONS-Pr were firm in
sympathy with higher hogs. July pork
opened unchanged at $14521z and ad-
vanced to $14.65: July lard 215c up. sS-05 to
$S-071s and advanced to $S.125z. and July
ribs Sc UP at s.. Is. selling TO $s.021z.
F'LAX-Cash. N. W. S1.61. No. l. S1-6f.
RYE-April, 50skc; May. 50lzc; July, 501zc.
BARLEY=Cash, 3SM56c.
TIMOTHY-Sept-. S3-25-