The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-10-08
WET WEATHER AIDS
BULLISH MOVEMENT
Corn and Wheat Are Forced
Higher and Stocks Show
Strength.

More rain in the Northwest caused a
slight advance in prices yesterday. Inc
board closed at 1880 o'clock and this
early adjournment curtailed the move
mentS of the market. Cables were fairly
strong but the demand for cash was
light The primary receipts We're less
than for the corresponding day of last
year. Some commission men think that
the heavy run of receipts in the North
west has about finished.
The corn market was just a shade
higher There was little of interest in
the speculative situation. Offerings are
small and the demand is fair The mar
ket was, forced little higher on the wet
aud cool weather in the corn belt. There
was a fair amount of scalping buying.
Shorts have covered and are waiting for
chance to sell on rallies.
Oats were a duh market following the
lead of corn and wheat and displaying no
independence. The close was shade
higher.
Stocks opened steady and prices were
There was some short covering, which
helped the bulge. On the advance there
was some profit taking and slight re,
action followed. Towards the close there
was an attempt to recover the stock sold
on the decline which strengthened the
market and closed it firm.
- What the Brokers Say:
NJ. Doran & Co.'S Chicago grain letter
says:
Wheat-December wheat was strong
and the May firm. The early buying was
on the decrease in the Northwest re-
ceipts and the general rains throughout
the spring wheat belt. The latter con-
dItion is only temporary, as clear and
cool weather is forecast for Thursday.
The December discount under May was
further narrowed and buying of that OPP
ton on breaks looks like some strong
interest. Our advices from the North
west are very bullsh. The trade up
there believe Jones' estimate of the crop
Is correct and that there will not be
W 70
millers are buying wheat in the Mime
apolis market to supply their wants and
when the Minneapolis mills are again
running at their full capacity there will
be very very sharp competition for the
wheat. The condition of arrivals is bad
which confirms other information at hand,
Gaming ing; greater damage to the crop than
was generally supposed. 1t is entirely
likely that the heavy receipts in the
Northwest are at an end. The situation
up there Is interesting and will bear close
watching.
Corn-The weather furnished the incen-
i've Tor early buying and December was
me more popular month. On the advance
there was some evidence of successful
bears trying to bring about a further
break and there was some short selling
by provision people. On the whole, how
ever prices were firm and a decline was
ferent. Our Liverpool house saws quality
oil oil Argentine arrivals is unsatisfactory.
me state or Nebraska is the only one
actually suffering from frost damage. Sc
rlous drought in country immediately adj
Jacent to the Ohio river and to the south
OF II mas lowered prospects materially
OatS-The market was firm The wet
weather was buying argument early,
and there was more general and a bet
Ter cash demand We much prefer the
way '-''-
O'Connor & Van Bergen's stock letter
says: ~
The market opened active and with in
a idarNo hi
proNement Stocks were for sale at fine
advance and prices reacted easily in The
SaIly trading, though with considerable
lrregularity. Some disappointment that
the steel bonds and preferred stock did
not respond to the cut in the common
dividend was expressed, and was moi
without influence on the general list but
STOCKS were not pressed for sale and al
the END or the first hour the market be-
came duii, moving within narrow fuctua-
lions and undertone fairly firm Toward
noon weakness in Amalgamated Conner
at sharp decline of per cent gave a
n tyy tone TO the industrials and sympa-
theticaily affected the entire list over
coming elsewhere. notably in Fries Snch
ACTIVITY as was to be found was confined
70 the stocks named and the Steel issues
Lia@lilg elsewhere was relatively small
IN the last hour an effort to recover stocks
SoId earlier in the day caused a sharn
raliy. and the market closed strong. with
SIrength IN Atchison feature Of the late
J. G Geraghty 6 Co.'S correspondents
say of stocks: Is
Logan & Bryan:
me market is a little irregular but the
SIoSing was on the whole little higher
wall street reports the business largely
PROFESSIONAL, but We feel sure that there
has been steady accumulation of stocks
curing the recent depresSions by Investors
ana by good people There is no evidence
OF urgent liquidation. There is so far as
we can see no trouble in sight that ha
not been fully discounted The short in
tefest Is large. We are inclined to think
Hlsresard the bear bugaboos and to antic-
Ipate the favorable conditions which fhe
Iutu[e seems to promise. Good stocks