Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1901-03-26
HIGH PRICE FOR CORN
Geo. H. Phillips Predicts the.
Price Will Reach so Cents
In April.
Belief on Board OF Trade Cen
eral That Corn Will Go
Higher.
The Grain Supply Thought to Be
Unusually Short at
Present.


Chicago, March 26. is going up
TO so cents within the next month, said
George u. Phillips, king of the corn pit,
yesterday.
The price of corn reached its highest
point in the afternoon on the floor of
the board of trade when the heaviest
holders of the yellow grain allowed the
Price to reach 42ls cents, a gain Of y of
a cent over the session preceding. With
cut disposing of enough grain to let the
shorts cover To any degree.
Since his successful corner in Novell-
Der corn Phillips has had great fol-
flowing of outside spectators, who will
not Sell their corn at less than so cents
unless they see the corn king weaken.
1T is the general belief on the board of
TRADE that corn is on the upward trend
and will all least reach As cents within q
short time.
| No surprise was felt on change yes
tcrday al the advance in the price of
lcorn. The general feeding of cattle on
summer corn. the unusually light re-
Iceipts of contract grain and the general
faith of the grain holders that corn Was
Bound to rise all tended To make the
market strong. The sympathy of the
farmers all over the corn belt is with
the movement that will send the corn
IskyWard.
In speaking of the present situation
i6George H. Phillips said yesterday
The strong position held now by the
bulls is not due to manipulation. Gen
lcral conditions are responsible for it,.
and the bears can not ever force out the
country spectators now The shorts
We're looking for the country holders TO
7 let go of their May options and take on
the June options, but with the present
moderate storage rates, the country
specnlator can carry his corn over.
There is more money and less grain In
the country than ever before at this
time Two-thirds of the crop has. by7
government report. been used up within
four months. Talk about the Argentine
crop does not brighten me. Even if
anything closed cur ports now we could
spread our corn out and find ample mar
ket farit in this country. Moreover. we
anticipate an ample corn crop this com.
ing season..
James Patten said.
suppose am the principal short on
the board, but am not worrying. i sold
some corn today and can sell good
Iscsal more if choose n they carry the
fighton till May | shall take III. the Juiy
options and continue the fight. Let
Phillips and the rest of them keep on
with their game I look for a sick
market in May because there is less de-
mand for corn in this country than us
ual.s The men who are long on corn will
ind out what it is 10 do without a Eu-
llopean market.
The belief that a corner in May corn
| rs being operated was somewhat shaken
today by the action of the market price
for May, Keeping within range of
about ssc. with trading restricted.
Among the more optimistic bulls there
vas some talk of 5o-cent corn during
the morning, but traders popularity be-
lieved 10 be most heavily Interested in
The alleged corner We're good sellers at
times.
George II. Phillips, who was credited
with engineeering the deal. denied To-
day that any corner had been formed.