The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-09-25
DECLINE IN GRAIN
MARKET CONTINUES
Fair Weather and Strike at Min.
neapolis Cause a Sharp
Slump in Prices.

The strike of the Minneapolis mill work
ers has already had its effect upon the
market. The close of the wheat market
yesterday was more than a cent lower.
the fair and clear weather in the North
western states. The cables remained
firm yesterday and the primary receipts
continue to run light.
Corn was lower, in spite of damage
reports from Nebraska and Iowa. where
there We're heavy froStS Wednesday night
The cash situation has not developed any
great strength. The oats market is steady
but little lower, in sympathy with corn
and wheat.
New York stocks showed considerable
weakness yesterday The reports of good
crop yields seems to have no effect upon
the market. The bears have complete con-
troll of the market. There was considerable
liquidation.
What the Brokers Say.
M. Doran & Co.'S Chicago grain letter
Wheat-Continued fine weather in the
Northwest and the labor troubles at Min
neapolis caused the selling movement here
which, together with Stop-order selling
carried our market down to a new low
level. On the break there was talk of 100
loads of wheat taken for export from sea-
board, Duluth and Kansas City Long
lines Of wheat have been Iiquidated free
ly during the last two days.
Corn-While the weather map. showed
frost in Nebraska and Iowa Wednesday
night and damage reports came pretty
thlck, 1t was not enough to hold our mar
ket and keep it from breaking sharply.
After May got under 47c there was heavy
selling IN stop orders from then till the
close. Receipts were only moderate and
shipping demand very good
Oats-During the early part of the SEES
sion oats showed considerable independent
strength with fair buying by the put
crowd and commission houses Receipts
were again light at "a cars, with but 4
contract. and cash market was steady
f1GaNV declines Hxhn oY,1
later In the session forced local small
holders to sell out causing a quick drop
OF 112c from top prices of the day. Clos
ing prices all along the line We're but g. Ice
from bottom.
O'Connor & Van Bergens stock letter
says:
The liquidation which was started and
developed strength throughout Wednes-
day s session has continued with increas-
ed force. Transactions have been larger
and as lower prices have been recorded
the necessity for selling appeared to have
grown more urgent There has been but
one rally and the traders seem to have
given up making any attempt to check the
decllneS. 1t Is curious commentary on
the change of sentiment of the street
that during the day the price of cotton
has dropped 30 points, May corn 21a cents
and wheat over Y cent and vet the
tickerS which recorded these quotations
which were so carefully watched over hui
a rev days ago, were deserted now and
what should be a strong argument in IA
Nor or better prices passes absolutely I'M
noticed. We take this as a marked proof
that general business conditions and rail
road earnings have nothing to do with
the present state of affairs, the necessity
Tor the liquidation of the holdings of syn
dIcates and individuals being alone the
cause for the present Respondent tone in
the. security market. Many stories are
current as to the causes of the decline. in
dlV1dual stocks and certain pools which
has been prominent in its operations in
the granger stocks is given the credit
for having reduced its line We hesitate
to advise the throwing over of stocks
and advise waiting for a better market
which we feel sure will follow the present
]. G. Geraghty & Co.'S correspondents
say of stocks: -
Logan & Bryan-The market is heavy
and sharply lower. The bears are raidine
the market and beginning to force LIQUID.
alton. So far the support is not good.
There is nothing new in general condi-
tons. As usual the bears are circulating
all sortsSof runors. but nothing defnite
There is some demand for money from
the interior, but it is smaller than ever
Detore at this season Call money is easy
1t is just question of how far the bears
can force the decline. We think stocks
are worth the money.