New-York tribune., 1902-07-16
TRADE IN CHICAGO.

Chicago. July 15 (SpeciaD.-CLless the signs
deceptive the New-York corn bulls abandoned their
Zeal to-day. The price dropped 15c, and to-night's
opened SOC, sold low 6514c and closed at
E5zc 10 11zc lower; the September 5s3zc bid, the
December SAC and the Nay SIC. There were s27
ears OF corn this morning, with 29S contract There
was enough more contract out OF the private
houses make the aggregate Of the contract corn
about 00OO0 bushels-about 100000 bushels Of
tract for the July bulls pay for in days.
L was known almost Immediately after the open
ing that application would be made tonight for
marginal price on corn. Possibly that might have
had something 10 do with the outcome, but prob
Ebiy not much
The weakness developed Just as soon as the cash
interests the elevator people and the receivers be
gan 70 offer their for July. The price started
az s1c and was soon at &c. There was a halt at
74c- There no support. however, from the
bulls. and il developed that the concerns
which have been representing Harris and Gates
we're sellers OF July-Brosseau. Booth. Wrenn,
Eelnholz and Rerick. In addition, the market
had 70 take all the cash corn that was in. The de-
cline halted at 6514c, but there practically
recovery. The cash market, which was so weak
on Monday. was much weaker to-day, No. corn
selling from &c Sc. In the Harris-Gates Office
Il said there had beer large private settle
ments That having been done It was decided TO
abandon the July campaign. Il was also claimed
there had been q good deal OF long corn sold all
the week-l500001 bushels the day the price sold
s5c But the general impression is the July deal
collapsed because OF the tremendous rush OF Ili-
nos grain due 70 the high price The permitting OF
the July price 10 get 70 soc week ago the
suit OF overconfdence and proved an expensive
mistake The contract stock here showed no in
for the week, $4,000 bushels or 2OO0 less
than week ago. The bulls have been shipping all
week but the country has been sending contract
corn IN Just about as fast the bulls could move
r. Il has been very profitable experience Tor the
elevator people for they have been buying the IoW
grades, making contract corn out Of it and clear
ing about lOc bushel al the corn handled tor d
fortnight
Wheat closed IlsgIlsc under Monday The break
was partly sympathetic with corn. but the wheat
SURROUNDINGS were decidedly bearish. septemher
sod az 725zqzz.c and closed al ne. July closed
AZ TIC: December, 7Z1zc; Nay 7474c The weather
was fne and the prediction indicated its continu-
ance. Primary receipts were ahead Of last year
7ss,oo0 bush. against 74o,9oo b''sl- CleAI4
SE 90 bush-were about naR last year $ Cao4es
were AL very weak The cash demand here was
poor The seaboar6 reported Sc. loads. There was
q iot OF lioudatton at 72c for September Harris
Gates were very large buyers OF Septe-DG' al -
Csrs felt the corn weakness and the wheat de-
cline. They were affected by fine weather Inc
Patten party was large seller OF September ana
December. Oats closed i4glS4c under -hoDUay' ne
new July left off 475.c; old July 4l7-c' ne" ep @
fenber sIssc bid; old September -S7so'
new oats were IN from Illinois, cars
were Isl cars; Wednesday estiIale, % cais 80 "a
No white oats sold 5oa53c most OF them afounc No
&c. The contract stock in here now is only o-oVV
bush
July and September lard touched L'zc' Nut 140SeN
&c lower. TIE whole provision hst opsheo d an
advance ana everything closed somewhat IN
Ger Monday. Most OF the business was tnrousH
brokers' and most OF IT presumably Tor tle Dig IN
terests in the market Pork closed uhchahgeu -
@ under Monday lard 5g2oe nndeI ahu ilDs =
lower 70 Ec bf,bo- sFo,dsv Al the Western points
there were g 00o hogs. against 1900 last year
IAe corn price having naturally o[oppeo I,,a - -
early IN the Gay the for marginal pal1e "a
come before tbe Eso~,o ~ Trade directors. That
body promptly disapproved Of a petition to amend
As rules permitting the delivery at times =. - -
axec