Omaha daily bee., 1902-07-20
COMMERCIAL AND FINANCIAL
Shorts in July Oats Are Badly squs'Esd in
Wild Market.
OPTION SHOOTS UP TO slxTY-FvE CENTS
After Ertntic GyratIOns Quits AT
HiEhesA' Price in Twenty-Dight
Years, with Gain of seven
and One-FOurth.

CHICAGO. July ls.-This was another
day for .squeesing shorts in the oats pit.
MS,Sdw July STANDARD oats were sSsisea,y
record since 1874. Aside from the large
short line that Is held by one OF the lead
Ing professionals, the principal cause OF the
erratic ~gyrations displayed by oats prices
today was that Of renewed damage TO har-
vest fields by reason OF the recent heavy
by the rains, but liquidation caused re-
actions. At the close July oats gained 7hc,
September oats hc and July corn INC, Sep;
TENDER corn lost hq%cs july. wheat hc and
September wheat NC. Provisions closed TIC
to 15c lower.
1t was a wild day in oats. The cause
corner In July new options. Mayor James
Patten Of Evanston, who cornered May
100000 bu. Of new July and as
receipts are very small and contract grad
ing much smaller, shorts are fearing still
promises for a good oats harvest came TO
hand repeatedly. The cash demand. how
eyer, kept up 50 well that In spite OF pre-
dicted bad crops, prices continued to adj
vance on the sample tables. With heavy
rains in the adjacent fields and reports Of
becsme d PSnie iyi't ted. SstGS ss6 5aiR; f sRSTSs
The future options advanced sympathetic
ally and were hardly appreciably affected
by the break in wheat and corn. Tn near
times they are hard to buy and the demand
is always in excess of the. offerings. Trade
III July was HOL excessively HEdNIt ~
price being put by moderate purchases.
Prices. however, fuctuated lie or &c at a
Jump July opened sAc up at SOC dipped
was very strong, nc up, al elHc. septem-
Der opened hd4sc higher at S3%G34hc and
sold at s4%e, closing lrmi nc higher. at SAC;
contract grade.
Wheat made very good advances early
tn sfe grade MSssn feo efPS['' 5 anS hE IN p ,SGat GSn,
was strong and was bid up rapidly by
frightened shorts. Cables were Indifferent
and near the great lakes had been dam
aged to some extent by rains and more
showers were predicted. Trade wa only
1.b5s.OOO bu., against S4s.oOO last year, the
southwestern houses began selling freely
st. Louis led in the selling. July opened
at 75Q75hc and closed half a cent up al
76c. September opened Hq1hc to h@stc uI
to 72hc, and closed weak, nc lower, al
72h972$c. Local receipts were $50 cars, 2
Duluth reported 27 cars, making a tota
for the three points of 457 cars, against 81
last week and 55l a year ago. Seaboard
~elearances in wheat and -four eaualed
Corn was bid up well at the start ir
sympathy with wheat and oats and on the
rain influence. The market, however. wal
poorly supported and there was a slumT
in prices until deferred futures closed under
yesterday. There was little feature to tbs
market aside from covering and trade was
light. Sentiment inclined to the bear sids
and all locals sold rather freely after tn,
initial bulge. July opened ic up at SIC and
closed INC up at 67%c, September opened
Kqxc up at 6lM961%c and sold at 61%o
but dipped 1c from this price and CLOSED
weak, Kq&c lower, at 60h@61c. Receipts
were AS cars. 10 of contract grade. Tota
contract stun was 100000 bu.
Provisions were subjected to free selling
by brokers for unloading packers and n
consequence of a concerted effort to breal
prices both on the board and at the yards
Blumps resulted Hogs were few, blu
brought lower prices. September pork CLOSED
10c lower at $1S.37h, September lard l5I
lower at $1o.s7h and September ribs 7hC
down at $10.75
Estimated receipts for Monday: Wheat
40 cars: corn, $50 cars; oats 106 cars; hogs
25,oO head: Hos receipts for the weel
were 1.115,0 900 head.
The leading futures ranged as follows: