The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-06-02
SOUTHWEST FLOODS
CAUSE WEAK
MARKET
Labor Situation Improves but
the Effect of Strike Settle
ments on Stocks Is Dis
counted by Kansas Dis
aSter-Bear Interests Ham
mer Down Prices of Strong
Securities.

The stock market yesterday was a de-
cided disappointment. Many looked for a
decided improvement as the news from
the strike centers was of a hopeful nature.
But the severe floods in the Southwest
discounted the improvement in the labor
situation. Little support was given to
stocks yesterday, consequently prices
sagged and the market remained weak
The bear interest attacked Union Pacific
with fair results. Missouri Pacific and
Canadian Pacific were also hammered
down.
During the last hour of trade, although
it was Of a highly professional character,
stock strengthened slightly and closed at
little better figure than on Friday.
There was no Chicago grain market yes
terday, as business in that city was sus-
pended on account of the judicial cleo
tions.
What the Brokers Say.
]. c. Geraghty & Co.'S correspondents
say of stocks:
Clark Dodge & Co.-There was much
less liquidation in the market today from
commission houses. but the bear party
have been active in trading stocks down
in view Of small buying demand. There
is good buying in Fries, st. Paul and
Rock Island.
Logan & Bryan-The tone of the mar
OF fair support in few stocks, while
others are lower. On the whole, the con-
dltlonS show no Improvement in the gen.
eraI tone or tendency. There is probably
considerable short interest in the mar
ket, DuC so Tar nothing to make them
cover except at their leisure. The out
look does not encourage the buying of
stocks.
Dick Bros.-The market has been
feVerish and heavy today Some stocks
showed rather good support. but most of
them yielded under the pressure of pro-
1esslonal selling, most of which was for
the snort account. A sharp break in
leather stocks looked like the result of
liquidation. Amalgamated Copper and
Sugar We're both under pressure. Some
very heavy selling was seen in Missouri
Pacific. which was one of the weakest
features. canadian Pacific was also ham,
mered by the bears.
Walker Bros.-The market TODAY was
weak and had little support There was
liquidation from the opening, and in the
afternoon 1t was on big scale. Union
racine was the point of attack and it
broke sharply. The steels were very
weak and this affected the whole mar
ket There was no news of importance
ana every low point reached seemed to
i DrlIlg OUT lot OF stocks. The close was
irregular, but with slightly better tone.
says: 0NN 1e'lei
,o We might reasonably. have looked
I'll AIpA ONSIIt0nt IN prices to-
DAY, owing to the more hopefuI
news received from strike centers hut NJ
Whatever benefit the market might have
gained from that source was discount
ed by the news Of the disastrous floods
In the Southwest. In consequence todav'e
STOCK market has proved Disappointing to
holders OF securities, whose procliyitiee
were toWard Improvement. The course
OF prlesst9skaAe perhaps less feverish ha
peen farffFen satisfactory inasmuch as
the genf4af tone has proved heavy There
IS Some=E6t4sfactiOn however in the ia ri
tnat the standard stocks seem to have
developed Steadiness and to find b11vers
at the decline.
1t seems to us that the genuine and
urgent liquidation spent itself early last
Week. and that Of late the weak snots
nave peen developed from the efforts NJ
the pears rather than from sales of Ione
STOCKS We also find announcement i1
the 1act that these attacks are moot
ing with less success than heretofora ma
Ihidt IN some quarters, which have henn
dlstlnctIy beariSh, the feeling fs aynroS
eq mat many securities have now reaob
ed point where they invite conserve tj1to
buying. 00ii'ei VaIlVe
From what we can gather in tba Ioh,-
sltuatlon, the outlook is distinctly an I'M
proving one, and should this view nroI1o
rue II VIII exert very potent Influence
on the course Of prices in the near f,Ie
ture. No'i III
The trading during last bour was ..
a highly professional Character b,,t 60 ~
with the decline that took niace sor,r
stocks closed at better figures than or
Friday. 90 'ii1h Oh