Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1902-03-01
TEEEGRAPHIC MARKET LETTER

Minneapolis March 1. Gables came
good and strong this morning, but the
market from the opening was thrown
into confusion by the oat squeeze and
trade was retarded in order to concen-
trate force sufficiently effective in that
pit. Rain or snow has fallen quite
generously in all sections but where
most needed, namely Kansas, Okla
homa and Texas. Should it continue
dry in that section the effect will be
more important than any other factor
as this district of the wheat belt means
all put a very small per cent. Receipts
her mere and Duluth slightly in excess of
those year ago with "a cars at Chi
cago. Reports for the 5Week-wheat
and flour 1924 900 against 5000 ono
last week and 5,233, 900 bushels a year
ago. DanubianS shipments this week
were 100000, which is about the com
paratiVe average Shorts are yery
nervous l'st but will fight the advance to
the last moment realizing that should
@they start covering, it would result in
even a sharper upturn than in oats
as tn the trade is very heavy. AS pre-
vlously stated we would buy on dips
and hold.
corn was was taken hold of this morn
Ing oy the same element and under
similar conditions to oats. It should
not De doubted that the Chicago pro-
nesslonals have this and s1na Her ros
! SCI serve under their control and will give
corn g more severe shaking up than
oats The public are more sensitive
70 rising markets and the moment that
an advance of a cent or so is estab-
5llshed It will cause better demand
/ from from the outside and change the senti-
ment men which of late has become foo
bearish. -
e Oats was the leader today and easilv
added two cents to last nights high
! closing This was accomplished With
great effort and they could have easily
been MAJ marked to SOC but for the present
this VIII give the public an opportunity
to reflect. # you go short of oats do
50 at your own risk and Judgment.
We are bulls on oats.
Provisions showed Improvement af
the opening on a. light run and better
prices at the yards There were but
s7,50O at the two leading western re-
seeiving points, Kansas City and
Omaha While the strength in corn
and oats induced short covering it has
also strengthened the investment de-
mand and the list seems strong on
this. as well as good cash demand.
New York, March Stocks were
far less dumpish this morning and was
generally looked for by the bear ele-
ment. Beyond any doubt the prob
ability OF bad bank statement was
circulated to turn this market and it
seems that they will shortly have all
their arguments exhausted. London
closed a shade off but they have for
some Time shown q dispo osition to lag.
) After showing fractional recessions
prices hardened although the volume
& OF business was very light. There Is
nothing OF Importance TO say further
than that conditions are for this time
d the year promising and money
plentiful Should the southwest con
tfnue dry, stocks in that locality may
be subjected TO more pressure and may
3 make temp porary declines but at pres
ent their earnings are very satisfactory.
Missouri Pacific has wtthstood consid-
cradle selling and should be bought on
any further decline. The trade was
mostly OF an evening up for the week
and several longs are waiting for flir-
ther declines on which to start their
account for the new month.