The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-10-15
TRADE is LIGHT,
MARKET IS LOWER
Option Wheat Shows Weak.
ness, but the Cash Situation
Grows Stronger.

The wheat market yesterday was dull
and heavy and the close was about sc
under Tuesday. The market was entire
ly in the hands of the professional opera
tors and there was little outside specula-
tive business. The cash situation. how
ever. daily grows stronger. With the
opening of the mills at Minneapolis a
great demand has come for No l and No.
northern. No. yesterday sold for sac,
while the second grade brought &c.
Corn was an irregular market, but the
close was unchanged. The December op-
tions showed good strength on small
farmers deliveries ana a neavy cash de-
mand. There are no very pronounced
bulls apparent and the selling pressure
was little doing in the oat market and
prices sagged after wheat and corn,
showing no independence.
Stocks in general showed a better tone
yesterday. Another raid was made on
the industrials. but the railroads held up
well; II looks as If the railroad men are
breaking away from the influence of the
lndustrials and will hereafter show more
independent action.
What the Brokers Say.
NJ Doran & Co.'S Chicago grain letter
says:
Wheat-The rapid advance late Tuesday
brought out free realizing which checked
the upward movement fhe cash situa-
tion maintains its strength and is get
ting stronger daily in the Northwest;
No. ! northern sold in Minneapolis at 84c
and No. at SIC. The receipts are run
ring light and are behind the grinding re
quirements since the mills have resumed
work. 1t is probable they will continue
light until the ground freezes. Shipments
from Minneapolis to country mills We're
1SS cars. The light receipts the milling
requirements and the purchases by coun-
try mills do not give the stock much
show to increase. Our ADVICE is to buy
when the market looks sick and no.
body wants to let go on the sharp buIges.
Corn-The relative strength of the De-
CemDeT was the nrOmlnent feature Cash
houses We're buyers, which was taken as
an indication of cash business worked
after the close Tuesday. Vessel agents
report good demand for room, particularly
for deferred shipment. Cables were firm,
and our Liverpool advices say stocks OF
corn are exhausted, but arrivals are ex-
pected soon. Country acceptanceS are
light. Trade is not heavy and lacked snap.
OatS-The oats market was content to
tail onto the fluctuations of wheat and
corn and exhibited no independence. The
trade was all in the pit, the interest in the
market not being general.
O'Connor & Van Bergens stock letter
says:
The market at times showed consider
able weakness. 1t was rumored that loans
were in progress of liquidation and the
action of the market might indicate this
The steel stocks were again prominent
With transactions in considerable volume
and tendency toward weakness. AT
times, however, large buying orders were
In evidence. The meeting of the Amalga
llldlSu upper directors and the SDecUld-
ton as to their probable action this after
noon regarding the dividend was an alb
sorDmg feature. It Is useless to attempt
to make any prediction in regard to the
matter. The action of the stock creates
much disappointment. Whether the rail-
road shares have cut loose from the gen
eral list or not is mooted question. Ger
talnly In the past few days one hears
more hopeful views regarding them. I'm
doubtedly the public interest in United
States Steel securities was extensive, but
we question if the losses occaSioned by the
declines in stocks of the character OF
Crucible Steel, Pressed Steel Car, Republic
Iron and Steel and American Car and
Foundry have been widespread, as they
have never been well distributed and were
more or less confined to the original hold
ers. It is noticeable that the market be-
comes dull on declines, favorable indica
ion, and a canvass of the street at this
time, We believe, would show a much i'm
proved sentiment as compared with that
recently prevailing here. For the moment
however; We see nothing but a traders
market here, with a continuation of the
pressure against induStrials The news
which came to the street from the investi-
cation of the shipbuilding matter, to-
SSIner win small failure on the ex-
cnahge, gave the market ragged appear
ance at the close. ~
j. G. Geraghty & Co.'S correspondents
say of stocks:
the market is steadier on a smaller volume
OF business. few industrials were again
raided with some success. but the market
as whole is without material change. Ar
eIt9rt was made to close it weak, but ii
raiIed In the last few minutes There is
sun an energetic bear element ready to
depTess prices by the circulation of any
KIND of unfavorable reports. We still be-
1 1 good stocks should be held and any
oecllhes they suffer from this point will he
more than regained !" --1 Nc
DICK: The market showed fair strength
Tor Tor time today. but weakened again in
me afternoon, and at the close the indus
tIIals ana railroads Were heavy and at
about their lowest prices Forced Iiouida-
ton was seen in some quarters. HEAVY
sedllng OF Canadian Pacific broke that
STOCK sharply in spite of denial OF rurnors
OF trouble in Montreal ''A'ioi