The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-10-13
GRAIN MARKETS ARE
HEAVY And LOWER
All Cereals Are Forced Down.
ward and Stocks Also Expe.
rience a Bad Break.

The wheat market closed lower yester-
day. However, the slump was not great
one. but trade was dull. The war news
from the East, which the bulls had hoped
for and the bears feared, did not material
lie. The visible supply was about as was
expected. There was a fair demand for
cash by the Minneapolis millers. The
mills. it is said, will all be running at their
full capacity before the close of the week,
as the strike has been broken and hun
dreds Of men are returning to work
There was little change in the general
condition of the corn market. The close
was heavy and lower. Country offerings
are still small, while the shipping demand
continues fair Until the country sells the
grain more readily the market will remain
a Scalping one.
In sympathy with the weakness in corn
and wheat, oats closed lower The gov
ernment report was also slightly bearish
which tended to help the decline. Receipts
are only moderate, while the cash demand
is brisk
Another raid was made on Steels yes
terday. The stocks gave way and a bad
break followed, bringing prices down to a
new low level record. Railroads held well.
During the last hour of trade shorts COW
cred, causing general rally.
What the Brokers Say. ,-,
NJ. Doran & Co.'S Chicago grain letter
Wheat-AlI the markets were off and
the tone throughout was weak Local
professionals We're against prices from the
start and pounded them consistently.
Trade was rather small. Cash news was
mostly bulliSh. Minneapolis receipts were
light and indications point to a further
falling off. The mills are reported run
ming full capacity. The government re-
ports indicate a total crop of about $780,
900 which was taken as faYoring the
bear side. Showers fell In the Northwest
but nothing heavy. This in itself was not
an unfavOrable feature. We favor the
buying side on breaks. The Liverpool mar
ket was unchanged and prices &c to lie
higher.
Corn-Corn was weak and cables were
lower. The edge WAS off the sample mar
ket and there was nothing reported in the
way OF shipping sales. There was no in
cars tomorrow. AGO.
Oats-The government figures on the
oats crop were too much for local holders
and brought about an opening decline OF
&c. and this was doubled later in SYM
pathy With weakness III wheat and corn
The sample market was off and cash in
qUiry slack.
OConnor e Van Bergens stock lette,
says:
The same influences which so unsettled
our market last week have continued to
have depressing effect, and we have
seen a sharp liquidation in the industrial
shares, particularly in the steel securities
The days business has also further in
creased the short interest and to this was
Foreign houses appeared to be large sell
Iers and much was made of a possible
clash between japan and Russia The
railroad list was held well, although the
support on the part of outside interests
was but slight. 1t is pretty generally be-
HeXed that at the moment but little oppo-
Sition is being made by banking interests
to the continued hammering of the mar
ket. The news of the day was generally
favorable, Saturdays crop report beine
better than anticipated railroads returns
excellent and the shortage of cars to move
the business offered larger than ever be-
fore known. In normal times all of these
conditions would have a marked effect
but at the moment they are entirely disre-
garded, We hear the Pennsylvania divi-
Gend is TO be cut and that the Southern
railway is finding it difficult to take care
of its floating Indebtedness
J. c. Geraghty & Co.'S correspondents
say of stocks:
Logan & Bryan-The market was
again ragged and irregular. Prices were
al lower carly and in some cases sharply
so. There was further apparent heavy Ii
quldatlon IN Steel and in some of the 9TH
or industrials. London was a seller. eVi-
IDENTIFY unfavorably impressed with the
affairs of the ship building COMPANY
There were indications of good buying or
the decline and the early losses We're pref
~ We'll regained before the close. 1t is
only a question of the value of factors that
are unseen or that only exist in the mag
.natlon and fears of tinlid holders and con
Ideht bears. We still feel that on things
Ina' can De seen and judged stocks are
Io% enough and should be bought
walker BroS.-The London prices came
IL lower and there was quite heayy
selling at the opening There was a sharr
uIlNe nlaue against the Steel stocks and
they broke early. The general market
broke also and everything beca mo yerI
weak. In the afternoon there was sbort
covering and prices rallied quite GOOD
deal! e''o