Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1902-02-06
TELEGRAPHIc MARKET LETTER

TELEGRAPHIC MARKET LETTER
Minneapolis, Feb 6.---Wheat opened
rather easy this morning due to weak,
ness abroad. Almost instantly the
buying by leading commission houses
turned the sentiment and a half cent
recovery resulted, where profit taking
appeared. Chicago received but one
car and the crowd who have been
playing for a break, became very
much discouraged. The weather was
milderg and the news was unimpo
Price Current says: Snow covers
wheat, conditions fair to good, but
unusually susceptible to future wealth
er conditions Interior grain Offer
igns light Believe we also made
mention of this repeatedly. Duluth
will probably increase about as much
as Minneapolis decreases this week,
presumably about half a million bush
els. Indications are for colder wealth
er everywhere which is unimpo portant
as we have had no recent thawing,
and the ground is quite well covered.
The seaboard reported but as, 900 bush
els taken for export yesterday.
Corn cables We're slightly lower but
there was not the support manifested
as in wheat. There were but twenty
cars and nothing Of contract grade.
After a &c rally prices receded easily
owing to the lack of outside interest
and the fact that buyers are playing
for a little better price. While this
! is. possible we cannot see any prob
ability of this occurrence. Primary
receipts eare less than one-fourth of
those a year ago, while the shipments
are but a shade less Should the May
dip below 63 again we think it very
good purchase.
Oats are not particularly attractive
today, just scalping market and will
probably work in sympathy with
other grains The visible supply is
burt "a little less than a year ago but
reserves are much smaller and all
marketable oats are now in the hands
OF large elevator interests.
Provisions are without special feat
ure. There is a slight falling off in
receipts and prices in consequence
have begun to firm up and will from
now on improve Be patient.
New York, Feb. There was but
one solution to the stock situation
this morning, namely Ito get on and
so with the crowd. Our favorites, we
are pleased to note, keep well in the
race leading to the finish. While it
is polite to exercise caution in this
I kind of a market, one should not for
get that it is most dangerous prop
osition to be short Of q steady creep
ing market. Northwestern is caus-
ing considerable surprise but before
this advance terminates shorts in this
stock will have had some dear exper-
fence. A stock dividend which Is a
4 strong probability would place hold
ers OF this stock, however, in an ex-
cellent position The street areaper-
sistently standing by Southern Pa
y cific' without needing to take any
large offerings. This stock is grow
ing more scarce in these quarters than
! ever and the borrowing demand will
from now on be the factor. Money
Is cheap. Why don't you get in on
this sugar. 1t is going much higher,
! possibly 135 this week. Inside part
les are taking more on the way up.
Readings are also forging to the front
and will be strong support Col
oralo Southern first preferred should
be bought and held right now for five
points AT least. Pacific Mail and
Wabash are our favorites In the low
priced issues.