Omaha daily bee., 1902-06-25
COMMERCIAL AND FINANCIAL
Pits at Mercy of ManipulatOru Move BY
Discordant Bouncss.
SHORTS HOLD ALooF FROM WHEAT MARKET
All Cereal Lines close Mt Advance
While Big Packers Pull Together
in Provisions and Lift Hog
Products.

CHICAGO, June A.-Markets on the
Board of Trade. were badly mixed today.
Whereas yesterday everything had an up
ward turn, today each pit was at variance
with the others. Manipulation seemed to
be to blame for the irregularity Of action
weak. The gossip that one elevator had
crowd had July corn ~corneredi that July
oats were being strongly advanced by
interests we're artidciaiiy booming pro-
visions, made the outsiders fight shy of the
pits and left most of the business to the
professionals. After the strained huctua-
tons July wheat closed a shade higher,
July corn &c higher, September corn Nc up
Rnd July oats lhe higher. PROVISIONS closed
Manipulative fears spread In wheat early
map, small business and lower prices in
Liverpool because of the kings. illness and
some small selling weakened wheat a trihe
however, unfit the talk of boosting July OPP
tons by a leading elevator started an up
ward turn. Prices rallied fairly on the ar
gument of depleted stocks and slow moving
new wheat. Corn turned firm and early
E FIPsdstre Of hs sa1e sf tSe wor EeTe vIRs 5ifdIlctss e.
crease as 100000 bushels the last week.
The, outsider became uneasy over the an:
July stun. After a small upturn prices
dipped again and fuctuated narrowly, but
no short Interest in the wheat market and
the threatened collapse on July options
opened a shade to Nc lower at 14hT74he
again and closed steady, a shade higher at
EMc. Local receipts were 9S cars, 8 of con-
ported $50 cars, making a total for the
three points Of 2SS cars against lag last
were a22.o bushels, Compared with 45s,OC0
bushels last year. Seaboard clearances In
wheat and flour equaled 1872, 900 bushels Sea-
board reported 2 loads taken for export.
Corn was manipulated almost without
the knowledge q the crowd IN the pit
squirt, partly on bad weather and partly
on the boosting of July by the bull inter
ests. Too much rain was reported in Lowe
was sold literally and all options slid back.
There was talk in the pit that one of the
September corn, was about to try a fight
against the bull crowd in July. This
trade. July huctuated widely between e7hc
and sc and closed strong and congested at
&c higher at S7%G. This price was q danger,
big excitement. September sold between
6shc and s0ssc. with frequent fuctuations
and closed firm at &c up at @1sc' Receipts
oats were strong here, but not very ac-
marked yesterdays upturn. Traders were
not inclined TO let 90 of stun, the cash de-
mand kept up well and bad crop reports
throughout the list. July sold between
40Ac and 41%c and closed 1hc up at the
highest figure. Receipts were liberal at
Traders in provisions seemed to be at the
mercy OF the packers today. The big in
t~erests, which not long since seemed to be
at outs, pulled together again in harmony
and in spite of fair liquidation by outsiders
at profits good advances were made. Ribs
were unloaded In large amount on the
shorts and prices broke. somewhat. Hogs
~S92h-and a good demand followed the in
huence. Commission houses were on the
bridge of the market. 1t Is supposed that
when prices decreased on the early selling
there was a considerable short interest
created which was squeezed out at once
when the packers switched prices up again.
July pork sold from 1880 to S1S.i2h and
back to a strong close. 15c up. at SIS. 40;
SSe ep%n 10 .,gR S q b %es s ~ siss "a d from oi slS 9
17Iic up at SIS. 8fh. July lard closed 2hac uT
at SO. 67h and July ribs, which were pushed
down zoe to $l0.66, closed &c lower at $40. IS
Estimated receipts for tomorrow: Wheat
Is cars; corn, 100 cars; oats, 15 cars; hogs
$4,000 head.
The leading futures ranged as follows: