The Montgomery advertiser. [volume] (Montgomery, Ala.) 1885-1982, 1902-06-05

higher, July wheat u and July cats 9sc
higher. Provisions closed unchanged to 27lac
higher.
Corn led the pits and was the center of more
interest than all the other pits combined the
feature of the days trading was the clever
switching Of the big bull leaders from bul,ins
July options to active support of September.
This crowd with its Wall Street affiliations
is supposed to bought more than twice the
amount of July stuff obtainable. Il has he IN
the talk Of the floor that July was to see a
rabid bull market and several times adven'
turous shorts have been pinched by this con
tinent. At the outset today many of the bears
who had been selling short for the last -FOUR
days became aware that they were a little
over confident and on fairly cteady cables
and restricted interior movement covered
freely. putting the prices up somewhat The
bull crowd led In this movement BY supporting
July well for h time. This option started &c
higher to &c lower at 6lEd6iA and in
few moments Jumped boldly to 623sc. When
the market had fairly firm basis the bull
leaders dumped large quantities and began tax,
ing Sept mber rapidly, September sold
from syn to 5sAc before the crowd realized
what was being done Then July dipped and
fluctuated erratically. AT the close the PIT
feeling was strong. July closed %sa9c up
5s4s@5sAc. Receipts were 1875 cars.
Wheat displayed considerable strength re
gardless of the stubborn manner in which
the advance was fought by the bears. Inc
local crowd started the upturn by covering
of the large number of short accounts that
resulted from bearish markets. Later the
corn bull crowd and elevator interests We're
good buyers. Receipts were small, clearances
large. The cash demand good and the seaboard
reported the export business better. The Gov
eminent report OF crop conditions was bull sh.
Lower cables were not considered bearish be-
cause they were not considered weak as ex-
pected The local crowd. however. put on a
bear pressure all day and although natural
reaction came after the heavy decline 1t was
only after hard work by the bulls with the as
sistance of the corn pit. July opened a shade
to Bmbtc up at 7i3s47lh. sold to 72c and
closed fra. sc up at 7I3sd72. Local receipts
were only seven cars, three OF contract grade
Minneapolis and Duluth reported l4S cars,
making a total for the three points of i55
cars, against I46 last week and 4se a year
go. Seaboard clearances in wheat ana hour
equaied 756 900 bushels.
Oats We're strong. but the market was FAR
from active Except in July, which commanded
small at so cars and the leading bull who has
been buying July of late was in the market
again. The shorts covered freely in July, IN
fuenced largely by the action in corn. The
crowd was not inclined to sell shorts and on
restricted offerings the price Of July jumped
from 367s to a strong close, sc up at 37is.
The Government report stated that oats were
not progressing well as of late. The wealth
err however. was good. The harvest in Texas
is over. The Ohio June crop report makes a
condition of 81.
Provisions were dull and listless early, but
late in the day, Influenced by the grain
strength and continuation of the recent
buying by brokers. strong advances We're made
1t is not generally conceded by al the traders
that the packers supporting the pit. Ride
were in excellent demand. Trade in lara was
light Tie hog situation was bearish on liberia
receipts and caused an early weakness IN
products. The clore was strong with july
pork Sc up at si7.35. July lard unchange'
at $40 25 and July ribs 27lsc higher al
Thu leading futures ranged follows: