The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-04-23
SHORTS AT CHICAGO HUNTING COW
Err BEFORE PHILLIPS MAY
CORNER Ups THEM
WHEAT WAS ALSO MARKED UP
Price of May Advanced a Cent and a
Half Against Two Cents for
COrn-Oats Up 3-Sc-Pro-
visions Unchanged.

CHICAGO, April 22-BulIishness was
rampant in the wheat and corn markets
today. Nearly the whole ganGut Of news
affecting these markets worked for high
er prices. Corn. after an exciting day,
during which prices Wee over the highest
previous level, closed with an advance
of &c, while wheat registered a gain Of
1zc. Oats closed sc higher, and pro-
visions practically unchanged
In the corn pit, the Phillips deal in
May corn came to the Hore after a fort
nights hault around 44c for May. Until
today the opinion that the bull leader 5
vast line had been gradually diminishing
through sales by brokers had been
spreading.
His announcement last night that he
Will take in every busllel offered him in
May contracts brought shorts up with a
sharp turn. On May 1, it IS estimated
there will be 3,000,0oe blu of contract corn
here which can be delivered, while his
holdings are estimated at 100000 to 1861,
coo bu additional That shorts will be
able to get that amount here for delivery
before the last of May is, of course. food
Tor doubt. The fact that country offerings
last night were practically nothing, AMI
mat the receipts to-day were but 80 cars,
with only cars grading contract, had
much to do with alarming the bears.
They scrambled in wild fashion today for
the privilege of taking their losses.
Phillips started the excitement by bidding
at the opening. May opened &c to &c
higher al 1850 to 447sc,~and rose to 1870
curing the forenoon. At this price every
-
Their sales caused a reaction to acc but
shorts absorbed everything with such ac-
tivity that the market reacted sharply
and closed &c higher at 463se. July sold
between 4S1kc and 45c, and closed He
higher at 44Tsc.
Trade in wheat was active The mar
ket. for it was the broadest in weeks, the
&ct1t4Fy Beng sustained with scarcely
an interruption. For the first time IN
many days favorable weather and liberal
receipts were treated with contempt. May
opened nc to Ac higher at Tie to 7124e
The.demand was general from outsiders
ana from local shorts as well as confident
longs. During the forenoon May climbed
to Use. on reports of a strong continental
demand, the corn strength and the Wis
1bIe figures, which showed decrease of
2005,G00 bu. Realizing sales on liberal
scale caused reaction to 72lsc near the
emu OF the session, but the market rallied
firmly and closed 11ae higher at 721ac
July wheat shared in the activity ana
closed at l2fsc, compared with Saturday
el9se al use. exporters reported A loads
taken for export. Seaboard clearances in
wheat and Hour, in some cases being for
two days, We're 1,0S2,6OG bu, while pri-
mary receipts were $4,000 bu. against
loo bu last year. Minneapolis and Du-
Iuth reported ga cars, against 3g54 last
week and 324 year ago. Local receipts
were % cars, none Of contract grade
Worlds shipments were 8 2S6 coo blI The
amount of wheat and flour on ocean pas
sage decreased 1. $50 coo bu
Oats were strong and active through
out. 1t was reported that country inter-
ests were canceling selling orders and
buying instead, owing to late seeding
The corn strength and the weather were
6qllish factors Receipts were EOS cars.
May sold between 255sc and as1kc, and
closed sc higher at 255s626c
Provisions were neglected. Prices how
ever, ruled steady in sympathy with the
corn strength, although hog prices were
lower. The range was narrow July pork
closed a shade higher at S14 571b; July
lard unchanged at .021a, AMI July ribs
PIC lower at 81. 921b
The estimated receipts for tomorrow
are: Wheat LOG cars; corn, 40 cars; oats.
435 cars, and 1900 head of hogs
The leading futures ranged as follows:
Open Hitch. Low If,lose