The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-05-02
NAY OPTION IN THOSE CEREALS
GAINED RESPECTIVELY
1-4c AND lie
sIIvnOi.JIrl !. I"
WHEAT TIVE-EIGHTHS HIGHER
Provisions Also Improved, the Adj
vance Ranging From 1-2qfOe
to :ss5c July Options
Show Activity.
Closing.


CHICAGO, May 1.-Tcday's session in
the grain pits was a strenuous one.
Sharp advances were scored for delivery
the present month, while july Options
showed moderate sympathetic strength.
May corn and oats We're said to be prac-
ticaUY cornered, and showed ut the close
gains of -lAc and &c respectively. May
wheat rose &c, and July "a &c. July
corn closed kMi2c, and July oats 1sa Ac
improved. The provisions market was
7l50iOc to 35c improved in prices.
The movement OF p ices ana the char-
acter Of trade apparently confirmed the
previously existing belief that May cora
had been corncred. George II. Phillips,
who has engineered the deal PAID cash
Tor 2,6O000 bu which were delivered 10
him on May contracts. Prices at the
opening ranged from 59c to S3sc, and In
q few minutes touched 3S19c. Phillips
bid actively to check the declining reac-
ton which seemed imminent. Scattered
shorts, alarmed by this and strong ca
bles, sought to cover and bid the market
ZIP 10 SOC, high price for this delivery.
The bull leader sold moderately at this
price. and u sharp break to 49c followed.
although actual transactions were few.
The remainder of the session May held
steady, a fraction over 49c, and closed
lac higher at 4Sl@c. The MAY DEAF g
said by no means to be over although
tOday's deliveries nearly wiped out the
quantity in store. It is believed by many
that the manipulation will be continued
10 control corn prices up to and during
July. In this connection il was noted
that No. 2 corn for shipment under guar
antee of not being rendered again on
speculative contracts was purchasabl9
at July price in store, and No. 8 Germ at
&c under July prices in store. There
appeared to be no shipping demand, how
ever. ard the sCaboard reported only II
loads taken for foreign shipment. Esti-
mates on the line of long corn held by
Phillips and his following varied from
100000 to $1,000, eco bu Whether there
are important short lines still out is
conjecture sold
tween 45l2Q453sc and acc, and closed SsG1Sc
higher at 45si d45Bc. Receipts Wee 25S
cars. SIS Of contract grade.
An undertOne of considerable strength
was observable in the wheat market
although the best prices were not held
20 the end of the session. The deliveries
were only 100000 out of 900O.COO bu in
store: A sharp advance at Liverpool in
the face of the decline here yesterday,
Hght western receipts, heavy clearances
and the strength of the coarse grains
helped the bulls. May was sold literally
by longs but their holdings went to
strong hands. The advance tempted real
ElnS, which accounted for the reactions
July opened al I23s07315c, touched bic
rallied to 741c, declined to 7SAc and
closed 1sGAc higher at 73AG733{c May
opened at 724s@2Ac sold between the
iIaI5er price at 1S2Sa7334c, ana closed &c
highe.' at 72Bc. Primary receipts were
S5S,OW bu compared with $4,000 bu for
two days last year. MINNEAPOLIS end Du-
luth reported total of ia cars, against
- iNf.h WIN Gnu oOo = year ago. Local
receipts We're &c cars, I of contract grade,
SXporter5 reported only loads taken
but seaboa.d clearances In wheat and
Honr were equal o $4,000 bu
In oats, manipulation or the fear of If
was as potent as in corn. Deliveries on
May contracts were fully 1,75l. COl Blu. out
OF u total contract stock of 2591, 900 bu
ana or the Quantity delivered Phillips
VINO las been ar aggressive bull IN the
market, took 100000 bu The corn
strength and the continued demand from
elevator inte:csts were additional factors
trade was Gctive throughout. Nav OPEN
ca At 26ts@21c, and under the bidding. Of
shorts advanced to 2S5sc, high price for
the crop. Prolit-taking caused frac-
tlonal reaction, but the close was strong
1nltSc over yesterday at 277.G2Sc JuIV
sold between 26c and 261bc, and closed I'm
cars. 1o'
Provisions were quiet, but strong IN
sympathy with the corn strength and
hrmness of the cash market. Offerings
We're light, and local people bid The n3r.
ket up. July pork sold betW cen $l4 S5
ana Sl5.021a. and closed 35e higher at az.
July lard between 1921 and $. C7iS, clos.
Ing lOc up at SS.07l@, and July ribs betw an
5E6tt2 and $S.G2l%, with the close 71bG10c
Improved al $S02. C2B
me estimated receipts TO" tomorrow
arc: Wheat. c. cars; corn. go cars. oat"
lS0 cars and 2O0o0 head of hogs '9'
The leading futures ranged as follows.