The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-10-27
WHEAT is STRONG
At THE OPENING
Corn, Too, Showed Firmness,
but Fair Weather Made
Bearish Market.

The opening of the wheat market yes
terday was strong and there was a good
general demand for both the December
and May options. On the advance there
was considerable ofit-taking and a sharp
decline followed The close, however,
was at a slight advance over Saturday.
Shorts and commission houses bought
corn yesterday on higher cables. The
fair weather in the belt proved a great
bear argument and prices fell off before
the close. The market had but little sup
port and prices ruled weak after the first
bulge. Oats We're governed by the ac-
ton of corn and wheat. The opening was
steady at shade lower. With the de-
cline in corn a slump came in oats.
The stock market was strong and steady
yesterday. While the volume Of trade
was small, the tendency of the market
was upward. A much higher market for
good railroad stocks is looked for.
What the Brokers Say.
NJ. Doran & Co.'S Chicago grain letter
says,
Wheat-Wheat opened with great dis
play OF strength, the shorts in December
sc decline at st. Louis. The latter mar
ket quickly declined until it was 1c un-
der Saturdays close. Our market fell
away with it but did not go as far and
ruled steady on the Decline, The close
was at small advance over Saturday!
Liverpool was higher. in the face of heavy
world shipments. of which America and
Russia furnished the bulk Bullish pri-
Hate advices from America influenced the
advance.
Corn-Corn opened practically higher,
ana Immediately fell on profit taking and
short selling by bear element in the pro-
vision pit. The ideal weather prevailing
throughout the belt was a bearish fea-
Illre. The demand from the East was
slack and country offerings were light
Trade was small and the tone dull. We
40 not see any good reason for selling
corn snort and much prefer to operate on
the long side At present prices there is
a profit in feeding cattle and hogs, and
the consumptive demand promises to be
Oats-There's very little to be said in
regard to the market. The trade was
light and prices inclined to drag, with no
feature whatever. Cash business was
OConnor & Van Bergen's stock letter
says:
Opening prices came higher and have
peeh Wen maintained; business has con-
tlnued throughout the day upon a fairly
actlFe scale; large part of the traders
have taken the long side of the marker
ana sentiment Is for the moment more
decidedly bullish, but barring some actiy-
lty IN the bond market transactions are
purely professional, and there is no indi-
cation as yet of returning interest on the
part of the public; it is likewise true thai
there are but few stocks for sale and
any demand will cause q sharp advance In
the prices of all railroad stocks: the pres
enI holders OF securities are well able to
continue TO keep them, and it is Yery
evident that they do not intend to dis
pose of their interests at this Level: the
great decline in prices of good railroad
stocks which has taken place has not
been due to any falling off of business or
shrlnkage in actual values, but to an en-
tire lack of confidence on the part of the
people generally, and only time will cure
the present situation and restore the be-
lief and confidence which have been sc
roughly shaken.
J. G. Geraghty & Co.'S correspondents
say of stocks
Logan & Bryan-The market continues
to improve; it is not active and the de-
mand for stocks is not large, but it shows
an improving tendency and there is lit
lie or no selling pressure; all the gossip
and talk from Wall street indicates thai
confidence is being restored; the stock
market offers many attractive investments
IN hrst-class stocks; it will be strange il
the investment demand does not reach
the stock market; the bears have ques-
toned the solvency of pretty much every
thing and everybody possible, and their
occupation in that line is about gone: we
ADVISE purchases of stocks and expect a
good bull market between now and Janu-
airy 1.