The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-07-30
BEARS CONTROLLED GRAINS.
OATS TOOK A TUMBLE,
BUT PRICES REACTED.
Corn Was Most Affected by the Days
Operations--Whest and Provisions
Also Fell OF in Price.

Chicago, July 29-Bears were in full COLI
troll OF all grain markets most OF the day.
The tumbllng was not confined only to
breaks in July. where there had been
manipulation. The whole grain list, wheat,
corn, oats and rye in all months went lower
under the smothering weight Of big re
celpts and prospects Of immense coarse
grain crops. In July. where sensational de-
creases were expected, the bears were some
what disappointed In the other months,
however, where prices were considered on
a fair commercial basis, the drops were
sudden and disastrous to the bulls and In all
quite astonishing. Toward the close a re.
action set IN In most grains, especially in
July onts which had lost .. In the end
July wheat lost only 4; September WHEAT
H@9s; July corn 4; September corn IN
and September oats y. July oats closed >
higher and provisions to IS down.
Corn ruled consistently beorlsh IN all OPP
tons. Extreme weakness set in almost
a. the start Of business. Heavy receipts
and fine weather were the incentives
Augmenting these was an almost total alb
sence of support. Apparently tile Gctes-
New York bull Clique have as they an
bounced, deserted July. for, on iar clfer
iugS Of this month, there was q roNll d.
cline and net loss of / from !isc nigni =
close with the closing sales at 81. Trade
was not heavy, but oferiug' wore 80 l,u-
. clal in addition 10 the reports Of cNcep
! toually large coarse grain crops mat the
market ali around took on a sick a-ptCt.
Gables were indifferent the cash deirdBd
Tell on ana general news OF Ctnrr natures
favored the ncnrs. The big short interest
| In September gave almost no support and
the gossip was that this interest WIS 20
powerful that 1t was waiting for htll fur
thef> breaks. September opened J, to Z
| down Mt 5S to 5TA and kept on 4 con slant
decline until 1t reached 5o4 Estilul Is e
only 10 cars for tomorrow checked mis- 10
cline and September closed weak ~ down
at Sc Receipts were 334 cars, ~ OF con
tract grade.
CROP REPORTS AFFECTED wltEAr
Wheat showed much weakness early on
the corn slump and lower cables. Receipts
! were liberal and for a time there was an
absence of support that threatened bad
break in the leading cereal Reports were
for notwithstanding crop in the North
west Locally the sentiment was very bull
| ish and the crowd sold almost to a man
! The Southwest which received heavy load
| today, sold freely. Stop-loss orders wetc
| met in abundance on the decline hut rs
soon ms these were exhausted the tom I'M
| proved. The pressure lifted and excellent
| buying by influential houses aided the p t
in n fair reaction. Late senboard sales
OF forty loads augmented the IGhy.
July, which of late has been narrow AMI
easily affected hung rather narrow, open
ing u 10 u down at 70 TO tx and after
dipping to 729s, closed only a trihc ,asy,
| - lower at 1874. 5 ptcmhcr opened 1sm4
to hd% down Mt T0A to I0@s and sold to
20 and closed iamSs down rather wenk Mt
7O% Business was liberal Fine weather
was hc0rish factor Receipts were So