Salt Lake Telegram | 1902-06-18 | Page 6 | Bull Clique Maneuvers in Chicago Corn Pit

BULL C CLIQUE IQUE MANEUVERS I IN CHICAGO CORN PIT f CHICAGO J JUne ne 18 The The corn pit was again the scene of a turbulent mob of grain agrain speculators today todal Prices soared skyward under the Ahe manipulation of the crowd that has corn cornered corned d July options and as quickly dropped with a thud Every trad trader F r in the pit lt was kept guessing as to what would be he the price at atthe atthe atthe the end of the the day Natural conditions condition were entirely Ignored In the first ten minutes advances of l c were made In the next hour hom prices slumped 3 cents All sorts of f conjectures were made as to the final outcome of or the corner Private Private t vate yate elevators are ma mating making ing contract corn as fast fag fagas as possible possible in ord order r t to grade in and overcome th the Congested condition In three days been made Just as e eanest Inest is the big bull clique to l keep cash stocks out out-of this market Country markets are rushing corn here to t take kit nt adva advantage ge of or- orthe the high prices but opposed t this moYe movement nent is that of the bull operators who are buying up cash stuff and aDd selling it at a discount to prevent large arrivals Efforts Efforts Efforts Ef Ef- Ef- Ef forts are even being made to ship stuff to Milwaukee to grade in that market July options practically control all action on 01 the D Board Board- of Trade At the opening they sold to higher than yesterdays yesterday's closing prices the first two sales be being made at 6 and From the top figure th there re was a const constant nt and rapid decline about by a whip-sawing whip process process process' of the bulls until July touched September options showed Strength following July but did not fluctuate wildly There was a constant pressure on the corn pit dur during ng the closing hour Not content with having forced corn to execute a handspring the manipulators revised the process still further and pushed July down to a loss of frost from the opening high price Old traders say that in a market market market mar mar- ket that is being Pl played as corn is now irrespective of its commercial merits rits jU Just t such pranks as it today may be expected from it from day to day The close was comparatively weak July selling 2 cents under yesterdays yesterday close