The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-05-03
PRICE FOR MAY WENT TO 55c YES
TERDAY, THE CLOSE BEING
AT 53 lie
WHEAT WAS ALSO MARKED UP
July, Now the Active Option, Closed
LIE TO 5-Sc Higher-Oats Gained
"a - Provisions Unchanged,
Except Pork, 81 I-2c I'd.
Closing.

CHICAGO. May May corn scared to
55c today and closed cents over yester-
day at 5S12c. July closed FAC HistleL.
Wheat was moderately active ana ILIh
on cables the weather ana IN sympathy
with the coarse grains, July clOSInS t.Q
bsc higher. July oats gained &C. july
pork closed Pie up; lard ana flpS p a.
Iically unchanged.
In The corn the tight grip Of the lead
ing bull ca the May delivery was mora
than ever apparent. Prizes huctuated
violently within a range of &c, but actual
transactions in the pit were SIuall. Phll-
lips, who has the market practically Ger
nered, refused to sell. Aside from the
manipulation. small receipts OF contracL
grade corn, and a report that Argentina
eXpol table surplus had been reduced 20
per cent, were strengthening factors. The
maniDulatiOn was, of cOuiSe, most appar-
ent in May although the JulY delivery
prOfited somewhat by 1t ana enjoyed
more general trade. May opened re to
1i2C higher at J0c to ole, ana was bid up
in &c and l2c jumps TO sac. This brought
only very Su all offerings from scattered
scalpng longs. It was reported that sone
large short lines had been privately set
tied ut the market price with Phillips,
but no authority for the assertions could
be found. From soc, May dropped back
TO Sc not from any increase in offerings,
but because the bidding stopped. Later
64c was BID, and at the close shorts We're
Offering 53l2c, &c more than Yesterday s
close. July sold between acc ami 47lD471bc,
and closed &c higher at i1447Sc. Re-
The weather was saiG to be highly IA
Vorablc Tor the crop.
While trade in wheat was on q liberal
scale, business aDDearcd to be mostly for
the professional Scalpers The markets
UndCItone was firm, however, under the
influence Of sueadY cables, hot, d.y
weather, under which insects thrive, and
IN sympathy with the strength in corn
and oats. From the Northwest came re-
ports Of fear that wheat viii not stool
unless some cool, Wet weather shall be
forthcoming. There was. however, no
lack of reports of the usual optimistic
character in regard to crop prospects.
July opened &c higher at 73Hc tC 735sc
2nG advanced early to 74ikc This was
followed by reaction on prolit-taking
TO 1880 i3%c, but bulls bought at the de-
cline. ana the market again reacted to
I4ut4sc ana closed firm, la@5Sc higher ut
I31sc. Seabo2rd clearanccs in wheat and
Hour We're equal to $4,000 bu while Dri-
mary receipts aggregated only $40 900 bu
against 5I6 coo bU last year. Minneapolis
ana Duluth repoGted 2f7 cars, against 215
last week and 1879 a year ago. Local re-
celpts were 81 cars, ! of contract grade.
O3tS Wre active and strong. May ad-
Nanced sharply because it was thought
the bull crowd in corn had also corne ed
the supply Of oats. July was mere amen
aDlC TO legitimate market influences. and
advanced on the weather, as we'll as In
sympathy with May, in tho face of lin
erat commission house selling at times
The demand for May came mostly from
plI shorts. who got but little. Nav sold
lbe,Ween ZS%sc and 29lec, and closed 1Mc
higher at 29;sc July ranged between 26$Sc
and &c, and closed with n gain of &c
at &c. RCcelpts were 176 cars
ne onlg rcdcelning feature Of the DO
VISION market was the advance in July
pork on 6u' ing thought to be for packers
LARD ard ribs were neglected and fuctu-
ated within Il narrow range july DorIx
sold from 80 to $15.S2% AMI closed al
the TOP. 52i9c over yesterday July Lard
closed 21@C lower at $S.05, and July ribs
shade down. at s..
The estimated receipts for tomorrow;
Wheat, 81 cars: corn. 375 cars; oats. 215
cars and $500 mead Of hogs
The leading futures ranged as follows.