The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-08-01

CHICAGO, July 31.-July corners were
snuited out today. Quietly and with lit
tie excitement save that influenced by
the Injunction against a corner in July
standard oats, the manipulated deals died
In the arms of their projectors. July
wheat cut the most spectacular figure by
fitted by into history with the closing
price "a cents lower than the high price
exacted when the Gates clique was in
control. July oats, although controlled
absolutely by the Patten-Frazier crowd,
closed uneventfully, doubtless held down
by the fear of dread possibilities at the
case comes to be settled. With manipu-
lation largely out of the way and the in
fation in prices rapidly seeping out, other
options in grains felt the very bearish
erect Of big shipments to market, lower
cables, fine weather and heavy sales and
consistently declined all around. At the
close July wheat was 53sc lower, Sep
TENDER wheat rs Ole down, July corn Sc
lower, September corn &c lower, July
oats lie up and September oats 3s@Ac
lower. Provisions closed 21ac up to 1212c
down.
Oats the Center.
Interest centered in oats because of the
injunction proceedings against James A.
Patten, Bartlett, Frazier & Co., and Car
rington, Patten & Co. Trade hung fire
for a time at the start because the case
was IN court A little covering was done
early, which started prices up someWha t.
When the court interrupted the injunc-
ton for the parties interested and stated
that only one house was interested Ca
house short So, 600 bushels of July) and
that with the exception of deals with this
house all business could go on as usual on
change; prices sagged. Patten sold free
ly in the pit to anyone who wanted the
stuff at 65c-half cent over yesterday.
About 100, 900 bushels were covered early.
Then rather heavy liquidation set in all
around. The general feeling among spec
ulators was that had there not been an
injunction In effect protecting one firm,
prices probably would have been boosted
and the July corner would have gone out
For the first time today it was learned
that the bull interest controlled 1852, 900
bushels bought below 40 cents. OF this
long line it is estimated over / 25O, 900
m the open pit. Most of trading was
in new; round lots changing hands at
64c, one of 465,OOO bushels and another
of 100000 bushels. Fair deliveries were
made as the price in oats declined but
a large number of contracts defaulted.
Details of these will not be known for
some time. July, after opening 1 cent
up at 64c sold at Csc, dipped to 63Ac and
closed 1c up at 64c. September sold from
1850 down to 21Ac, and closed weak,
as@1ac lower at 31Ac. Receipts were
liberal at 243 cars.
Wheat's Slump.
A break of cents in July wheat was
the feature of the leading pit today.
Trade was dull at times and prices were
inclined to be cratic. Covering and the
effect of big exports of yesterday started
prices higher Deliveries of 500, 900 bush
els in July, however, with heavy selling
in all deferred options brought break.
July opened, Bc down to %c up at 75c to
ice, hung fire for some time and then
plunged in a panicky fashion to 69Ac
Few traders wanted the July article, al
Enough there was a fair cash demand.
s o br oRenf ed as e to at 7o
Is ole down at 69h M695ac
excellent crop news, big receipts and
line weather influenced a marked increase
In the ACKNOWLEDGEMENTS spread-De-
cember selling 1c below September The
feeling in wheat as elsewhere was that
with manipulating out of the way infa-
ton must come out of prices in all OBJ
lions: July closed 5asc down at 69&c.
Local receipts were 349 cars, Z of contract
grade; Minneapolis and Duluth reported
10? cars making total for the three
and 424 year ago: Primary receipts
were e l. 4S,O0O bushels, compared to
s9S, 600 bushels last year. Seaboard
$4,000 bushels. The seaboard reported
II loads taken for export
Corn Prices Break.
There was heavy selling in corn, very
little support arrived and prices broke.
FROM 9Oc, the price of July corn on July
3, when controlled by the bull crowd the
price had declined until today it closed
at SIC. There was fair strength to All
options early on the small receipts-only
q cas- Selling in September, however,
was heavy, induced by bearish reports
of excellent crops and good weather. In
spite of only IS cars estimated for tonor-
row, September sold from $3.50 down to
o4Ac and July from Soc to SEC. There was,
a little rally in September as early weak
ccables improved but the close was weak,
&c down at 55Bc.
PROVISIONS were only fairly active and
ruled generally lower on weakness in
lard. Early. prices were firm on a
strong hog situation and support. Ribs
mad the best support and September OBJ
ions OF this product closed 21bc up at
$1O.35. September pork closed f2hc
down at $16.771s, and September lard
eQ7hc lower at $10.S215 @10.S5. Esti-
mated receipts for tomorrow: Wheat 300
cars; corn, IS cars; oats, 100 cars: hogs,
II, 900 head.
The leading futures ranged as follows:
Open. High Low. Close.
Wheat