Albuquerque Daily Citizen

EXCITEMENT IN CORN.
John W. Gates and Associates Have Manipulated a Corner.
PRICES WERE JUMPING.

Chicago, June 17. - Excitement ruled in the corn pit on the board of trade today. The fear of a corner in July option which caused a sharp upturn yesterday, was augmented at the opening of business by the reluctance of big holders in July to sell. In consequence the shorts, who feared a runaway market, bought everything in sight and bid excitedly for more in order to stop their losses. The prices fluctuated widely and wildly. The manipulated option opened very steady at 64½ to 64¾ cents, but at once began making jumps of 1 cent or more, receding as much and then advancing still farther. The supposed corner that is at present the only factor in corn, is said by old traders to be an assured fact. The bull clique is said to be led by John W. Gates and his Wall street associates, and has been buying everything offered. All told at present there are less than 2,000,000 bushels of contract grade corn with which the shorts can cover, and the Gates crowd is credited with having bought these same shorts over 15,000,000 bushels. It is thought the culmination of the corner will be brought about within a week. July closed strong, 3/8 cents higher than yesterday's close and the highest point of the day was 67¼ cents.