Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-03-30
Trust receipts; Nominal; SEX. div.
Mining Stocks.
PRODUCE.

CHICAGO, March ga strong up
turn in corr and the surprising acti-
witty of the oats market were the feat
ures of speculative trade on Change
to-day. May corn attained a new high
price mark and closed with a net adj
vance of 1c, while oats showed a gain
of &c. Wheat was dull, but responded
to the corn strength by a closing gain
of X@%c. Provisions were irregular,
closing 5@7ac higher to TIC lower.
The corn pit was overlooking with
traders at the opening and their eyes
were fastened on George Phillips who
| was believed to have control of the
market, or to be very close to a COM
manding position. Light country Offer
ings, despite higher bids sent out last
night, small receipts and the dimin-
ishing proportions of contract grade
were Influenced which kept the bullish
hood circulating. Phillips, whose line
of long stuff is vigorously estimated in
the millions, met the tide Of buying
orders land these came from nearly
all quarters) with offerings in fifty
and hundred thousand lots. Opening
sales were unchanged to Nc higher at
42B to 4Sc and during the first fif-
teen minutes, the market climbed to
43A. The Phillips selling carried in
its wake other holdings of smaller vol
ume. So broad was the demand. how
ever, that the pressure succeeded II
forcing the market back only to 42%.
Here Phillips closed his liquidation.
In accounting for Phillips move it was
said he had been selling most of his
stuff to brokers who were really his
| q OQnfc and that ho nod oftoc,nptaI ~
shake out weak longs and lend conf
dence to the bears to secure a firmer
hold on the market. Phillips became
a buyer before the noon hour. This
so alarmed shorts that the market
speedily reacted, assisted the while by
the buying of outside people whose
bdliishness was rampant all day. The
advance failed to bring much corn on
the market. May advanced to 44c dur
Ing the afternoon and the close was
buoyant, lie owe yesterday at 1880.
July generally ruled a shade under
May. Cash bids were generally out
of line with lie bulge. Local receipts
numbered 211 cars, thirteen of contract
grade. Cables were firm.
Oats broke from their usual narrow
path as the neglected speculative wall
flower and exhibited surprising
strength and animation. The recent
marked improvement in the cash sit
uation combined with the corn
strength, were the factors. May sold
early at 25h@25Ac, advanced later to
25A@25Ac on covering and closed sc
higher at 25Ac. Receipts were 211
cars.
To-day's shipping sales we're put at
SOC, 900 bushels, while business OF this
character yesterday was reported at
500, 900 bushels.
Wheat was dull and neglected in IA
vor of the greater attractions in neigh
boring pits. Trade was professional
in character most of the session and
the market easy on the whole, having
liberal receipts, good crop prospects
and the favorable weather. May sold
between 75A during the forenoon,
and later rallied to 76Ac on export
sales at the seaboard and in sympathy
with corn. The close found the mar
ket at 76Ac, a net gain OF AQMc.
Shorts did most of the buying. Elk
porters reported As loads taken, sea-
Board clearanees in wheat and -four
were equal to $751; 900 bushels, while
primary receipts aggregated 563, 900
bushels, compared with 484,00 last
year. Minneapolis and Duluth report
ed 378 cars, against 1873 last week and
436 z year ago. Local receipts were s.
cars, non Of contract grade.
Provisions etazte1 out heavy be-