Omaha daily bee., 1902-06-02
PATTEN CORNERS MAY OATS
Leading Bull Advances Price Of Cereal
Nearly Six Gents.
OTHER CEREAL VALUES CLOSE LOWER
Corn Continues Downward and Wheat
Though Firm for n Time, weakens
with Corn Break-PrOvisiOns
Take Upturn.

CHICAGO. May 31.-Aside from the ter
mination OF the successful corner In May
oats and the accompanying hurry ana
HHrsins today was again under bear domi-
nance. For the thlrd sueeesS,ge ,n1ssyye64ooeed d
Closed G%'n Ssc ioweTr. july corn s%asc down
and July oats nc down. May. oats closed
price on record Provisions closed hrm
and sc to 7hG10c up.
The opening Influences were Of a strength
advances. Gables were firm and Argen-
decrease at $50, 900 bushels, compared TO
1,lb0,00 bushels a year ago. The prospects
be small. These incentives started July
wheat a shade to hG%c up at I2ha!2lzc
and sold at .72hq72%c. The buying that
however, to a dull scalping market and a
gradual decline ensued. Crop prospects
the bullish news and Inducing the local
crowd to sell short. Advices southwest,
however, told OF too much raIn. As G I
wheat broke to 1%c. closing easy and 1bc
down at 72hc, Local receipts were Fl cars,
1lusGS1 f r]eporesd S III cars Mi fof he tw 19u days,
making a. total for the three points of 3s2
cars, against 1872 one day last week and
receipts were $4,000 bushels, compared to
t7e,OO0 bushels last year. Seaboard clear
ahCtS III WHEEL dhu hOW NiuaApN DAtVV
Corn continued it's down turn today and
S &C. e 'l TTSsp o Of iSe t slnse t Mere nr 81
a fair advance on firm cables and small
country acceptanees. II was the increased
movement from the farmers toward this
market that pushed prices down. Receipts
the estimate for Monday was especially
bearish at 800 cars. There was some short
selling on crop prospects and the generally
mainly from the absence of support. Most
of the session business was active. but Of
a. 'V SIC nt TO Ssisc 1u ana TP soid u a So oa q i fIttie
support by the leading bull house to 62lac.
Persistent bear argument brought a slump
Re d dc%TiS at si%c. 'u'' ''O'eO "eAA anu ~~
The termination Of James A, Patterns
successful. corner in May oats brought a
picturesque close to the business Of the
week and the month. For several months
the May deal has dominated the oats pit
to the exclusion of any very active bust
ness in other futures. Exceptionally clever
manipulation by Mr.. Patten secured for
a ann nse to ol between ia.o 900 s1Spi u. CO. &C.:
900 bu. Prices were pushed up methodically
from TIees to week 'estor on the S,0 corn Ir,s scarcity
May /, when Mr.. Patten began buying
the cash stuff and selling II out at a good
Local stocks were practically. depleted.
deliveries were taken In by the shorts who
w wsRssed t9 9ro aeli its st SSf the pos RE}TIiSs hardly Sny
shorts settled personally with the big buff
without going into the pit; Today Patten
himself bid prices up, nobody dared sell
what they would have to buy from him
and the result was an advance today of
bMc over yesterday and a tightly cornered
close at the top prices on record for May,
s9hc. pT9nts sb for the tn isanS S ro6 are estimated
IN other oats was dull and uneventful.
Crop prospects are good and with corn
weakening oats sold OF, July closing weak
and Nc down at $3.50. Receipts were liberal
at gel cars.
Provisions again felt the serious aspect
Of the strike Of the packing house team
eters at the yards, Curtailments OF ship
ments of live stock has kept hog prices
"a fairly well. but the crowd was afraid
20 do much business. The Arm hog situa.
ton was augmented by a. little packers
support and prices closed nrm. July porh
sio;9o, July ribs TaGiOc higher at ss.72hd
Estimated receipts for Monday: Wheat
% cars; corn, 500 cars; oats, $50 cars; hogs
1900 head; for the week, 10000 head.
The leading features range as follows: