The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-09-16
STRONG REACTION FOLLOWS
SLUMP IN GRAIN PITS.
TRADERS STILL IN DOUBT
ABOUT OATS DECISION.
Short Receipts and Small Visible
Supplies Help Bring About
an Upturn.

Chicago, Sept. l5-Reactionary influences
from Saturdays slump were 1T work in
grains to-day. This was a condition some
what unexpected. for it was generally sup
posed that Judge Chytraus's decision IN
the oats case Saturday would bring out
long grains. Traders We're somewhat in
the dark as to whether they dare do any
business in futures at other than cash
prices. and as a result outside orders were
scarce. Business was largely In the han Is
OF locals and the nearby futures were let
severely alone because Of their premium in
general over cash prices. The further de-
iveries. however. seemed To have been
oversoId Saturday ana because OF their
seeming ~cheapness in comparison with ship
ping hgures prices were showed higher N
most commodities. At the close. Sept
wheat. Dec. wheat and Dec corn were sc
higher. Sept. corn was &c down and Dec.
oats a shade of. January provisions
closed ne to Jifc rp.
WHEAT.
Wheat started out with a fair show OF
strength. largely because the crowd was
not frightened over the issue OF the in
junction cases. Il was generally believed
hat the decision in no way affected trade.
except in the case OF extreme manipulation.
and that even II the decision were upheld
the directory could frame governing rules
that would hold. Many OF the spectators
went home Saturday night short. Al
though cables were only steady and little
outside business came to hand. the fact
that stocks were decreasing started an up
crrn. In spite of the fact that there was
\ big run Of wheat 10 this market last
week. stocks in public houses increased
only 4sS.eoO bu.
The increase in the visible supply was
only 6b.cp bu- Buying by shorts and a
fair commission house business, with very
Hght offerings. started prices higher. Trade
was dull at times. with the outsider in the
market only sparingly. st. Louis supported
DEC 10 some extent The weather was
very favorable to povement and receipts
were increasing, especially in the north
west. Sept. was traded In lightly. but ad-
vanced with Dec The near option opened
unchanged TO sc up at i2asc 10 use. and
closed arm at &c up at Use: Dec. started
sSixqs%. and closed firm. sc up at 6ac.
Local receipts were 2S cars. Z Of contract
grade: Minneapolis and Duluth reported liza
cars. making a total for the three points OF
I5S cars, against SO last week. and 8. al two
days last year. Breadstufs on passage de-
S5e as ed + SS Sgi WSrld's m s shipments PIP were
Seaboard clesrances in wheat and flour
eQualcd 5is.009 bu. Duluth worked $50. COO bu.
P Fri snpoT Te,e dpS R Rslped 7s ~ th ne aayan Ss
2.el5.oo bu- two days last year.
CORN.
Conflicting reports OF damage 20 corn
from frcsts put the corn crowd in a guess
ing state. The market opened strong for
Dec and May. and there was a fair demand
va sept was NlltpP1 dlNA
in the end ruled easy. Offerings in general
were not excessive at any time. even when
the market was at its highest point The
weather was fine in the corn belt, with bet
ter weather in prospect.
Cables were steady and receipts were in
creasing. With these mixed conditions. the
sentiment was somewhat uncertain. In the
end the frost-damage reports and small con-
tract stocks helped the bulls. About mid
session there was great frmness. Later
the-S was a recession. but the close was
near top figures, save IN Sept. The near
futures sold between 5Szc and 5sizc. and
closed easy. &c OF. at S.sc. Dec. started at
BIC. sold at 43c and closed nc up. at sac.
Receipts were liberal at 80 cars. 81 OF con-
tract grade
Oats were received in larger quantities.
The weather was good and the quality OF
arrivals vas improved. The market opened
easier. under some selling by q leader and
by commission houses. but price tuctua-
tons We're narrow. Corn strength aided the
price at times. The cash demand was light.
Dec. sold between Sic and S1Nc and closed
easy, a shode on. at 5ilsfr4c- Receipts were