Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1902-03-05
TELEGRAPHIc MARKEF LETTER

TELEGRAPHlC MARKET LETTER
Minneapolis, March 5. Shorts in.
wheat did not like the way cables
came this morning which with the con
hnued dry weather in the southwest.
suggested that their position was dan:
gerous. In consequence they over
looked no opportunity Of taking every.
thing offered and prices maintained
a strong position during the forenoon.
The ground is now bare and the thaw-
ing and freezing weather will give
the tender plant a, severe test. Tenne-
see and Ohio received heavy rains but
it is not needed there. Country de-
D liyeries of wheat very small and coun-
try elevator stocks getting low. About
all Of the bear influences have been
thrown out with little results. Hold
ers who have pinned their faith to
wheat ais conservative Investment,
have in great degree liquidated on
this information scattered broadcast.
Chicago received thirty-seven cars
which was twenty4tWo over estimates.
st. Louis continues to be buying
freely presumably for southwestern
account. The market will be very
4 sensitive and the least buying pres
sure will give the present holders
good opportunities to take their pro-
fits
Corn ruled firm all the morning.
The news is Of a decidedly bullish ma
] tllre and as the short interest is quite
extensive we expect to see a material
Improvement.
Receipts were a little excessive and
cables but shade firmer. We must
4 look back at our reserves ito see the
actual conditions. Never before have
: farmers reserves been SO light and
basing last years crop at l,360, 900 900.
( we have but 450, 900 900 to last us eight
months. This shows that nearly one
billion bushels Of last years crop have
been consumed In three months, be-
sides the surplus from previous crop.
We surely cannot see any reason for
present prices not being low enough
for investment purposes. ss55s
Oats are nearly as strong as other
I grains and the trade is increasing.
AS prices advance the outside will in
vest with more confidence. Provisions
were heavy all day caused BY free Of
8 ferings by the packing interests. There
is no outside demand and no pressure
to cause more than temporary recess
sions. s5s8 sssS.
New York, March 5The stock
market inclined to heaviness early on
selling BY some Of the prominent lead
! ers endeavoring TO change the se1iti-
ment. For the past couple Of days the
market has been allowed to recede,
which has caught several stop loss or
ders. The gold shipments are found
to be much less than at first expected,
less than one million being confirmed
y SO far s8 sSs
a rarmor was circulated that insiders
s. We're unloading the Goulds, EWens &;
Readings on labor troubles. They are
also fllalring on little dearer call
money, but this is an unimp portant fac
tor and would II true have but tenn
porary effect The middle elassed
4 rails are showing excellent earnings
and are desirable for investment.
Atehinaon common Is showing 10 per
cent Union Pacific 12 per cent and
Southern Pacific Z per cent. There is
renewed talk Of unfaVorable outcome
in pending suit against Peoples Gas.
Shorts must be using this to permit
their covering easily. Their earnings
are good and no signs Of any REDUCTION
Of their 3 per cent dividend. There
may be something In the coming bank
statement 70 disturb the market hut
stocks are ia good hands and will
grade work higher,