The Montgomery advertiser., 1902-07-17
chicago arain and Provisions

CHICAGO, July l6.-Grain trading was
common place today. when compared 10 yes
ditions were beaiIsh and early in the day II
was expected that July corn would take a
further ss drop fhs enes of weakness caused
much comment At the clo-e July corn was
&c up. September corn unchanged; september
wheat NdMc iower and September cats AG9sc
higher Provisions closed a shade higher TO
7Ic lower; actual trading in corn today was
Of the usual type Gables Were az 1o Sen ans
put on the market The weather continued
favorable for the bears but all these eondl-
tions did not break the market appreciably.
There was not much doing in July after the
opening. although the Gates crowd both pouBnt
and sold that option and bought septemner:
Uncertainty ruled In this pit. II was patent
fact that wisdom has been shown In the re-
f,isal by the Gates-Hew York street Clique
not to take the mountain of corn that is oeihg
rushed in here to take advantage OF the
prices 1t was openly stated that big eleva-
tor interests had settled with the bull party
at go 10 S2c for the July corn hat was sol1
short under e2c. The question that rerna mel
unanswered. however, was whether more tnan
one-third Of the big short line estimated AZ
as high as &c. 900 900 bushels had been COW
cred by the unfortunate bears. The GATES
party officially announced that they had given
up their support of July. but actual purchase
Gossip had II that the bulls might sth oe
able to give a twist to the market the last
pected to curtail the movement OF contIsSt
corn towards this market, but this curfaii-
nent in turn Is feared by the bears VINO are
still holding their short lines out expecting
to retrieve their Losses July opened irreeu-
lar &c lower to nc up at 63h to 66c on
the influence of the talked Of broken corner
September opened a shade lower to shade
higher at 5ol to 59%c, dropped to 59$sc ana
rallied to 6oAc on support by the outl crowd:
which was supposed to be sold too heavily OF
this month as a hedge against their casl, re-
ceipts and deliveries. Business was not large
and prices dipped late on i ss snts 1y
her closed steady unchanged to 59isG5Se.
Receipts were ass cars, AS Of contract grade
coo bushels Hot weather Northwest and To-
cal showers. together with the unexpected
show Of steadiness in corn. put gimp INTO
to Nc up and 7IN to 7lNc and held FIRMLY
for some time around I2hc AFTER having
dipped TO II%c: me ne eh h,t, oi ~ rearIy o
600 600 bushels by the leading elevator con-
Germs. This offset the local bearish senti,
ment and kept the price from sagEinE unit
lust before the close. Then the skies brisht-
ened. the fear Of the hot weather IN the milky
spring wheat passed away and me weakhe 81
feet Receipts were liberal and showed signs
Of increasing from now on. Trade was only
hS,ses ss frse As the session ended bro
ers for the early purchasing elevator concern
let go large quantities and me price 1 11Mes
&c having sold as low as 7lAa%e. Local re.
ceipts were l25 cars. only two Of centract
grade but nearly all new stun. Minneapolis
for the three points OF $40 cars against $50
last week and $50 year ago. Primary re-
ceipts were 1861 900 bushels, compared TO
/ lie 600 bushels Seaboard cearances in
wheat and -four edualled $4,000 bushels:
Tradstreet's worlds visible supply decreased
g. o93 900 bushels. Oats irmed up well at
the start, partly because Of fear OF wet wealth
err and reports Of lodging in Iowa: Indiana
and Illinois Shorts who saw they had over
done The selling yesterday covered freely and
higher prices resulted at once. Receipts were
small and the cash dmand held up remarkah-
Nv we'll Receiving houses were good buyers,
as were some commission houses. Trade was
only on a fair scale and the selling was scat
tered for the local account. September sold
~ aISc Recetpts were only Sc cars.
Provision business dull. Prices were
hurt by IiauIdatlon. especially in lard. but
the hog situation was Arm and was consid-
cred too strong for short selling. September
porb closed a shade higher at Sls 60; Sep
TENDER lard 71zc lower at 81 10 and sep
TENDER ribs unchanged at sloS5