Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1902-05-08
CHICAGO.
MINNEAPOLIS.
MINNEAPOLIS CASI

Z MINNEAPOLIS CASH
Flax. 81. "A: No. hard, 77ss !; No. 1 northern,
75ss-sa; No. 2 northern, 7415-as. q @
DULUTH CASH. ,..s sE
Flax, s1.75; No. hard, 7S2l /; No. northern,
75a; No. z northern. 1874.
TELEGRAPHIC MARKET LETTER
Minneapolis, May Sit is evident
that the bears in the wheat pitt are be-
coming discouraged. While they have
not covered to any extent they have
refrained from increasing their already
extensive short line, which is more
the cause of today's inactivity than
anything else. It is also true there
is no important news pressing either
side, but shorts are finding it more
difficult to obtain offerings. The cash
demand continues very good. Receipts
are very light and if anything, news
in general favors the investor. A
sca1ping market is more than prob
able the balance of the week. Favor
the long side on recessions, followed
by profit taking on sharp rallies
Gables were quite firm in the face Of
weakness here. The weather is clear
and pleasant aside from a pretty
strong wind which, owing to plentiful
moisture, can do no harm.
Corn showed quite little 'grimp," !"
but a certain element seems to be
anxious to sell it aggressiyely ON every
upturn. There is, however, equally
as eager demand for it on recessions,
which, gives a good scalping swing.
Receipts were a little in excess of 100
which are considered quite liberal
when compared with the reserves.
Cables are soft, weather fine and moth
ing to stimulate investment at the
moment. The long side will require
patience but will prove most profitable
in the long run. z,5 4 ,a
Oats are just about keeping pace
with other grains. Same conditions
govern the market to a certain extent
as in other grains. The Forthcoming
government report will suggest eau
tion and until after its publication we
think the market will do little,
Provisions: There was a very fair
run of hogs with prices quite firm.
The provision pit is gradually being
deserted while insiders are preparing
new deal. 4 # it has not occurred to
you that the provision market has
held these high prices firmer than
ever before and that the general trade
is playing for 4 reaction, It surely
should It is a problem to prophecy
when the next upturm will come, but
as these quiet interesting days glide
by it brings closer to Us the time when
shorts will be scrambling for pork,
lard and ribs. 8i
New York, May S.-Wall street is
endeavoring to center the attention OF
the average trader to the strike situa-
tion. While it may look plausible on
the face Of it, yet in our opinion be-
heve it is more likely due to a decision
on the part of operators to create a
demand for their surplus stocks of
coal on the dumps and above ground.
It is quite strange that coal strikes
occur in the spring, IS it not? The
market continues to edge it's way re-
lentlessly on it's upward course. The
Goulds are said to be buying Great
Western for control but by comparing
prices with the transactions we doubt
this statement. This stock on it's in
dividul merits is worth much more
than current prices but when they
boost them into the 4O's then we will
think there lis deal on Shorts have
had a hard time fighting the advance
in Louisville & Nashville. It appears
toppy at times, due to the stub born re-
sistance offered but offerings soon
melts away, which makes the bull sit
uation all the stronger. We continue
to favor the long side of the Atchisons,
u. p. and Mo- Pac. as well as c. e d.
and Wabash Industrials are choppy
and nothing Of merit noted.
STAND LIKE A STONE WALL.