The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-03-30
CHICAGO GRAIN MARKET.
Strong Upturn of Corn and Activity
of Oats Were the Features.
MAY WHEAT CLOSED IL TO 3.S HIGHER
Corn Advanced fc and Oats Gained 5 g..
Provisions Closed IL t-2 Lower
to 2 t-2 Hioher.

Chicago, March ga strong upturn Ia
corn and the surprising activity OF the
oats market were the features OF specu-
latlye trade on change today May corn
attained new high price-.nark and closed
with net advance OF lc, while oats show
ed a gain OF Is. Wheat was dull but re
sponded to the corn strength 10y clos
Ing gain OF AM% Provisions were irregn.
lar, closing 5aTl6 higher to l7lac lower.
The corn pit was overlooking with trad.
ers Mt the opening and their eyes were
fastened ON George Phillips, who was be-
lleyed to have control of the market. or
to be very close TO commanding posi-
ton Light country offerings, despite high
or bids sent out last night, small receipts
and diminishing proportion Of contract
grade In them, kept the bulllsh blood cir
culntinE. Phillips, whose line ~ long stun
Is yarlousiy estimated in the millions, met
the tide Of buying orders nnd these came
from nearly all quarters, with offerings
In nifty and hundred-thuusand lots. open.
Ing sales were unchanged to Mc higher. at
42Ia to AZ, and during the first fifteen min
utes the market climbed to 43A. The
Phillips selling carried In It's wake other
holdings from the traders WHO were ne
customed to follow hin. The quantities
tossed about were OF record breaking vol
une. So broad was the demand. however
that tle Intense pressure succeeded In
forcing the market only 10 42A. Here Phll-
lips ceased his liquidation. la accounting
tor Phillips move, 1t was said he mad been
selling most of bis stun to brokers VINO
were really his agents and that he had
attempted TO shake out weak longs and
lend confidence TO the bears to secure Il
nrmer hold on the market Another rnmor
had 1t that ST. Louis interests, which
were heuYy buyers, were making an at.
tempt to Wrcst the young operators hold
lngs through the corn pit from him,
Whether true or false these reports may
nave been, Phillps became buyer before
the noon hour. This so alarmed shorts
that the market speedily reacted, assstcd
the while by buying OF outside people,
whose bullshncss was rampant ali day.
The advance failed to bring much corn on
the mnrket. May adyUimed TO I4c during
the afternoon this being the highest plce
this season TOT May delivery, ana the clusn
was buoyant lc over yesterday At 1875.
Jnly generally ruled a shade under May.
Receipts III cars.
Oats broke from the usual narrow path
as the neglected speculative wall flower.
ana exhibited surprising strength aud ami
nation. The recent market Improvement
IN the cash situation, combined with the
corn strength, were the factors. Receipts
I'll cars.
Wheat was dull aud neglected In favor
OF the grehtcr attractions 10 nelghborng
i.t0' nut Maa ploIcssioHil IN thHlAclrf
the greater part OF the session ana tho
tone easy on the whole In consequence OF
liberal receipts. good crop prospects and
the favorable weather. May sold between
1914 and ~ during the forenoon ana later
rallied to IGA on export sales at the sea.
board ana In sympathy with corn, The close
found the market ut 1874, AGiA higher
thnn yesterdays hnal hgures. Shorts did
most OF the buying. such as Ii was. Local
receipts 03 ears.
Provisions started out heavy because
western receipts We're In excess OF the
number at hand the corresponding day ii
year ago and because prices at the stock
yards were somewhat easier. The strengt q
Ia corn came TO the help of the market
lhter ana caused a recovery, except In
pork, which was "draggy" and failed to
recover completely, May pork closed l7I5
~ up. aus
Estimated receipts tomorrow-w Wheat II
S,s.a5 80 -oo cars; outs 235 cars hogs