The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1901-04-03
the opening gong today the attack came.

the opening gong today the attack came.
Phillips produced $2O0. 600 additional mar
gin money in response to the second call.
wheat pit after selling 1,500, 900 bushels. Of
May wheat at a. loss which will probably
average 11zc per bushel
Monday at I3Hc to 33c under the deiuge
of sales. but steadied at the decline. The
corn market. in which Phillips is said to
be interested to the extent of eight or ten
million bushels, broke &c to 11zc at the
opening, selling simultaneously from 1876
to &c The volume OF business during
the first ten minutes was enormous. but
the market received spirited support from
the young bull leader, who absorbed heavy
lines through brokers. Weak longs scran1-
bled to get out from under what they
others rallied to Phillips Side. The first
outburst over, trade became less excited
and May corn worked gradually back to
IN oats the attack was also strenuous,
but again Phillips, holding a line esta~
mated at 100000 bushels, defended him
self with great spirit and the opening loss
Of &c was nearly all recovered during the
Other markets, notably St Louis, were
weakened yesterday by the bears in prep
aration for the fight here today. it is said.
A decline at Liverpool, it was also report
ed was in q. measure due to the manipu-
lation from this side
From 43 cents May corn on later trad
ing reacted to 407s cents. Profit taking
by shorts and buying for a turn caused
q rally from this to 42SA cents. The
closing price was AIS cents, rs cents
closed 2 cents lower at 1925 az cents,
after having touched 715s cents. May
oats closed "a 1Ts cents depressed at 24zs
cents. The afternoon has been as trying
as the earlier part of the day to Phil
lips, but he retired from the floor APP
paTently cool and confident. THE
market" he said, needed shake up"
Chicago. April 9-CORN-There were
ten strenuous minutes in the grain mar
kets at the opening today me eXpecta-
non OF me cult1Aas9n o. = n9Nsls5l.s -
crush George II Philips, Dull leader III
corn and oats and recent factor in sus-
tanning wheat prices, led to tremendous
from under. and from bears Phillips, to
the great surprise Of nearly everybody,
was not active. But his following had
not yet deserted him. May corn opened
&c to 11sc lower at 42stc to 42e under
enormous pressure from longs the PIT
was crowded to the limit and for ten min
utes excitement ruled. Phillips. credited
with holding about S,O000g0 bushels OF
long May corn. bought only a. little and
his trades were almost lost sight of in the
enormous total. Local bulls and outside
interests were buyers, however, and the
market recovered to 427s643c the first
hour, during which the speculative atmos-
phere became less electrical. Local re-
ceipts for two days were 1874 cars. SO Of
After touching 4sc May was forced back
to 1918 and closed 13sc lower at Use
OATS-The oats market where a Sc
we're break had been expected, held re-
markedly steady Offerings while liberal,
We're mostly local and there was an ex-
cellent outside demand for them Phil
lips, who is supposed to hold a line of four
or five millions. was not in the market
May opened at 251zc to 251zc, touched 25c.
and then rallied to 2512Wssc- Receipts
were 1854 cars for two days
May oats closed %Q5sc down at 243sc.
WHEAT-May wheat started with an
opening break of 72c to 1Ssc. selling at
737sc to Use at the opening. Weak cables
and the expected break IN corn and oats
were factors. Offerings were heavy, Phil
lips being among the sellers but a re-
port that /. $50 600 bushels of wheat had
been taken for export during the past y
hours had a steadying effect and May re-
acted to TS1ze- The. pressure seemed to
be over following the opening outburst.
Local receipts were 127 cars. one of con-
tract grade. for two days, while Minneap=
oils and Duluth reported 421 cars, against
3O5 last week and 374 a year ago.
May wheat later declined to 715sc and
closed 1zk02c lower at 723sd1zc.
SIONS-ProvfsfOn opened irreg-
ular. lard particularly so; May lard OPEN
ed TIC to soc higher at SS.37is to $500 UNI
der an excited demand from shorts. May
ribs opened unchanged at $500 and went
to IS. 80 in sympathy with lard May pork
opened PIC down at $15.571k and sold to
$3.50
FLA -Cash northwestern, s1.55: No. 1.
81 81: May, 81. "a.
RYE-April SOC; MAY. 501zc.
ARLEY-Cash. 38u5Sc-
TIMOTHY-April, S4.05.