New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-07-30
TRADE N CHICAGO.

Chicago July % CSpeciaD--The Board Of Trade
directors to-day. application Of two board mem
bers-the firms Of Pratt q Buckley and Waite &
Thornburn-and after hearing testimony as 10 the
Shipping value of oats. fixed marginal price of
the July oats at 45c.
The new July closed at Coo. The meaning of this
action is that people who have July oats sold
now call the buyer 10 per under the 45c price
instead of 10 per under the market price. which
the close to-day 60c- 1T does not affect the
calling Of margins by the buyer. He can call his
party 10 per above the market, whatever 1t
happens to be.
This matter Of a marginal price is a weapon used
only when there are corners" and IT is resorted to
by the shorts SentimentaIly it affects the whole
situation as IL is sort Of official recognition that
there is corner and that prices artificial.
There was threat OF using it against the July
corn bulls few days ago. but the corn price went
70 pieces and the application was withdrawn
Il il supposed that this oat deal is being en-
sineered by NEWCOMERS, with Patten.
Frazier and few others interested. II has put the
July price high 72c. the highest in twenty-five
years and large short interest is presumably still
Unsettled
After the decision this afternoon Patten said the
marginal price would make difference with his
position: that he would respond with margins down
70 PC II any wanted them.
The July oats to-day sold early low 53c,
nut closed 6Gc There were $50 cars OF oats in
tniS morning. with 172 cars Of standard or better
available for shorts in the July. In addition.
thsfs were "a No. mixed available for shorts
N ne old July. The sample market was weak and
irregular. f. being uncertain to-doy whether all
me oats could have been got into the elevator
ior delivery Thursday. Standard oats sold at 6Oc.
II ne sellers guaranteed 10 get them into the ee-
Fator: otherwise they sold for 45c New NO white
oats sold low There all sorts or prices
on the on grades. The deferred oats FUTURES telt
me weakness in the other grsins-oh at one time
&c 10 Asc, and closing nc 20 &c under MONDAY
New September closed at &c. Old September ETC
ao-oays cash oats receipts are the last the July
puAs VIII take. Very few OF the receipts coming
IN to-rnorrow viii get into the elevators In time
TOT oeh'ery Thursday. and o-morrows cash mar
81 LOT lhaf reason Will probably be weak ahair,
me best Information is that New-Yorkers hold the
puiK OF Inc line In the July. with Patten having
hofne interest II is the belief too that there is
cohhioeranle outstanding short interest Seaboard
LOOK lot or oats the break.
Anere was extreme weakness in corn, July sell
ing or 4c. and closing al SIC and the other months
selling on lssc 10 PIC. September sold at bsc and
az s95se' and closed az Sc. December closed at
use May A5sc To-dsys feature was stop loss
A"iing by smaller commission holders When the
market became 20 exceedingly weak there was
covering BY shorts and buying by some OF the
larger Interests which have been bulish on the
september Of late. Patten bought December; the
rnoahy interest took September. Bartlett q Frazier
ana Harris Gates buyers OF September The
secret was let to-day Of that big September
Jay cucahy to-day ordered those sales trans