The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-07-31
GRAIN MARKETS UNSETTLED.
SLIGHT ADVANCE MADE
IN THE WHOLE LIST.
Legal Proceedings Were Threatened to
Protect Shorts in Oats--ProVisions
Made Gain.

Chicago. July 80. Unsettled by the clos
Ing operations In July corners all the grain
markets today were ragged. yet wlihai
rather dull. In spite OF the fact that a
marginal price of 4Jc was put on July new
oats yet she bulls in this deal were very
stubborn and sold almost nothing, lndlcat-
ing the probability that the July oats cor
ner will have to be settled In the open
pit tomorrow. In other options of this
and other grains bears had the whip hand
early and pressed prices down Covering
for short account. developing speculative
and export demand and estimated curtail-
ment of shipments TO this center however,
checked declines In the new crop deliveries
aud put fresh ginger In the July deals. At
the close July wheat was Ia higher; Sep
TENDER wheat Is up; July corn ~ higher;
September corn II down; September oats
y up and July oats &c higher. Provisions
closed ~ to 22lgc up.
There was bnd blood between the bulls
and the bears on the oats situation Much
comment over the marginal price of IS
cents piqued the shorts, but they in turn
were inccnsed over the attitude of the
prominent men who are exacting the Mt.
termost farthlng from the shorts In July
contracts at time when such action is not
considered good commercial policy. Trad
crs generally were wroth over the great
amount of trade that has been kept from
the Chicago market lately by too much
manipulation. All day legal proceedings
were threatened to protect shorts. Plen-
teous receipts weakened deferred futures
early, but in July the probability that
no relief was to be expected at the hands
OF the bull clique Influenced sharp advances
ana nervous tone. The congested op-
ton sold from 90 up to strong close 3
cents hlgher than yeserday,s close Mt fS.
| september dipped to 31A early depressed by
/ cnry wcakn IS in corn. When otner grains
! rallied, however. and july showed itself
| strong. september rallied to a firm close
! Is up at SIS. Receipts were 364 cars.
Us of contract grade.
WHEAT DROPPED. THEN ADVANCED.
Wheat had weak appearance early, but
ultimately recovered It's position and ad-
vanced. Early bearish incentives were
heavy receipts, both primary and local,
lower cables and fine weather. September
was sold very freely early and large
quantities came ont on stop loss orders
us the price broke under 10 cents. The
local crowd soon started an upturn, how
ever, braced TO some extent by talk Of
too hot weather in the Northwest and OF
| big export business at the lower prices. A
| leading elevator concern took on stuff
| literally and augmented the rally, July,
| in which recently there has been n good
deal of delivering, was wanted and on coy
ering this option took on considerable
strength. The good short interest in Sep
temhcr helped in the upturn. The volume
of the wheat movement seems to be un-
diminished. but for the time being this
influence seems to have had its full ef-
feet July opened a down Mt 49, dipped to
T2&. rallied to 15A and closed strong
rs up at T5h. 1t is thought there is a
pretty fair sized July short interest that
will have to settle in the open market
tomorrow. September opened y to 4 down
at 7OA to 70is declined to 69St. sold M
to T09s and closed firm. Is up at 7ol2. Re