The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-06-25
MARKETS ARE
BADLY MIXED
Manipulation Is Blamed for
the IrreguIarity.
OUTSIDERS FIGHT SHY
Dealing Altogether Confined
to the Professionals.

Chicago. June 24.-Markets On the board
of trade were badly mixed today whereas
yesterday everything had an upward ten
dency. each pit was at variance with the
others. Manipulation seemed to be to
blame for the irregularity for action and
the nervousness of traders. Every pit
had quick turns-now strong. now weak.
The gossip that one elevator had July
wheat in control; that the Gates crowd
had July corn cornered; that July oats
were being strongly advanced by manipu-
Iation and that the packing house inter-
ests were artifcially booming provisions
made the outsiders fight shy of the pits
and left most of the business TO the pro-
fessionals. After strained fluctuations
July wheat closed a shade higher. July
corn &c up September corn &c up and
July oats 11sc higher. Provisions closed
sc lower to 17lzc higher.
Wheat turned firm and after early re-
ports of harmless showers more rains
were predicted. Bradstreets gave the
worlds visible decrease as 100000 bush
uneasy over the unsettled nature Of the
pit and fought shy of July stuff. Local
receipts were IS cars, of contract grade.
Minneapolis and Duluth reported 250 cars,
making total for the three points of 2SS
cars against 146 last week and 249 a year
ago. Primary receipts were $4,000 bush
els compared with $500 bushels last year.
Seaboard clearances were 49,, 600 bushels
in wheat and -four. The seaboard reported
two loads taken for export.
Corn was manipulated almost without
the knowledge of the crowd in the pit
Early in the session September had a good
squirt, partly on bad weather and partly
on the boosting of July by the bulls. Too
much rain was reported in Iowa and
Nebraska. On the upturn September was
sold literally and all options slid back.
There was talk that one of the big pack
ers who was short of September corn was
about TO try a fight against the bull
crowd in July This tended to keep out
siders avail from the trade. July fuctuat-
ed between 6Ti4q6sc, and closed strong and
congested &c higher at 677sc- This price
was dangerously near the top figure dur
ing last weeks big excitement. Septem-
Der sold between 591zG6O2sc with frequent
fluctuations and closed firm, 54c up at SOS
Oats were strong and ruled higher, but
were not very active. There was some of
the same buyin gthat marked yesterdays
upturn. Traders were not inclined to let
go of much stuff, the cash demand kept
up well and bad crop reports brought up
the upturns. The close was strong. July
sold between 407s@4194c and closed 11sc up
at the highest figure. Receipts 261 cars.
Traders in provisions seemed 10 be at
the mercy of the packers today. The big
interests which not long since seemed to
be at outs, pulled together again and in
spite of fair liquidation by outsiders to Sc
cure profits good advances vera made
Ribs were sold in large amounts and
prices broke somewhat. Hogs touched the
highest price for the year, s7g2i1 and a
good demand followed the influence. Com
mission houses were on both sides of the
market 1t is supposed that when prices
dipped on the early selling there was a
considerable short'intercst created which
was squeezed out at once when the pack
ers switched prices up again. July pork
sold from $3.50 TO s1s121s and back TO a
strong close. l5c up at $3.50 September
pork was switched from $3.50 down TO
s1s.s5. back to $3.50 and closed INC up at
sls671z. July lard closed PIC up at slo.69l1
and July ribs which were pushed down ZOc
TO s10.65, closed sc lower to Slo.s5.
Estimated receipts for tomorrow. Wheat
25 cars; corn, 100 cars; oats. 125 cars; hogs,
sc, 900 head.