The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-11-29
WHEAT MARKET is
VERY IRREGULAR
Prices Make Many Changes
During Session, but Strength
Is Maintained.

Wheat was a jerky and changeable
market Saturday. During the short SEES
sion there were many fluctuations IN
prices within narrow limit, but the close
was about the same as the opening. The
news from the Northwest told of small re-
ceipts and fair demand. The movement
has fallen off greatly during the past ten
days. Corn, which has been supported by
the strength in wheat, became weak yes
terday and sold lower. There was but
a small demand and the receipts went
begging. Oats were also weak and lower
The receipts were light, but far in excess
of the demand.
The opening in the New York stock
market was quiet and without a great
change in prices Sugar was strong and
on good buying advanced several points.
The trade in the market was extremely
dull. but during the session railroads held
firm. From the present viewpoint 1t looks
as if there is 4 large short interest which
is seeking cover and having a hard time
to borrow the stocks. The bank state
ment was favorable.
What the Brokers Say.
NJ Doran & Co.'S Chicago grain~letter
says "a
Wheat-Extreme nervousness charac-
terized the market throughout the ses-
sion, and quick changes between marrow
limits We're frequent. The tone was af-
fected more by the evidence of manlpula-
ton than by anything in the news. North
west advices in part were strong but
nothing new developed. 1t was all in
the nature of a repetition OF known 1acts
Receipts were smaller than last week
and last year, and country movement Is
light as evidenced by experience of one
house. 1t is estimated 60 per cent OF
Manitoba crop has already been marketed.
Foreign advices were all against the price
Corn-Corn was weak, particularly the
December which at one time sold at sc
under May. The strength in wheat has
halJ rly for he
but corn broke away from its influence
Saturday. News was not important ana
scarce, There is no demand for corn and
local receipts are slow sale.
OatS-OatS were one with corn and the
course of prices was identical. The De-
cember went from a discount Of 118c at
close Friday to 115c at low point satur-
day Receipts are moderate but there Is
no demand to take care of them.
O'Connor & Van Bergen's stock letter
says:
The market opened quiet and steady
without material change in prices, with
the exception of Sugar, which on good
buying advanced to 122B in the early
trading. Republic Steel preferred was
nervous at the start and sold down l
per cent below Friday nights closing, but
later it turned strong, selling up to Al.
The general market was extremely dull,
traders preferring to wait for the bank
statement. The statement was favorable,
and there was some little realizing after
it appeared which caused fractional de-
clineS throughout the list. The closing
was quiet and firm with good under
tone.
J. c. Geraghty & Co.'S correspondents
say of stocks:
Logan & Bryan-The market is quiet
and with but little change. The bank
statement was as good as expected.
There seemed to be quite a little profit
taking, but the market stood it very we'll
and there was no material loss in the
prices. The financial situation is shaping
better. AS we approach the first of the
year, it is quite likely to anticipate the
easier money rates which seem probable
thereafter. All advices indicate that there
is a large short interest and that in
some of the industrials they are having
difficulty in borrowing the stocks. Out
side interests are still slow, but the ac-
ton of the market is by no means weak
and We would rather take our chances
buying stocks on the soft spots.