The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-10-30
PRICES DECLINE ON
BEAR|SH REPORTS
Heavy Receipts at Chicago and
Minneapolis Make Wheat
Market Lower.

Large Chicago and Northwest receipts,
lower cables and fine weather were all
bearish influences in the wheat markets
yesterday and caused selling of the De-
cember option. This selling made prices
easier and the close was fractionally
lower. The cash situation was dull, with
but little trade.
The continued fair weather in the corn
belt made the grain easier yesterday. Rain
had been predicted, but the showers failed
to materialiZe. This caused considerable
selling by Wednesdays buyers. The
market ruled weak during the session
and the close was at slight decline.
Oats We're steady at the opening, but
eased off in sympathy with the other
grains. Trade was small and the mar
ket was dull.
On slight advance at the opening yes
to decline a little. A higher money
market is predicted and the outlook for
tomorrows bank statement is not prom
Using.
What the Brokers Say.
M. Doran & Co.'S Chicago grain letter
says:
Wheat-The pit was exceedingly dull.
The trading was soley by professionals,
and commission orders were rarity Ca
bles were Indifferent and the outside mar
ket participated in the dullness and ruled
lower News was not particularly influ-
entail. st. Louis financial troubles seem
TO be over and confidence restored in the
trust company, Demand, ,. from millers
and export is not SO keen Duluth and gulf
y
Wednesdays totals were only As loads.
Receipts at primary. points were $50 900
bushels under year ago.
Corn-Corn was lower and the tendency
throughout the session was downward.
The futures were without support of cash
business. The sharp advance Wednes-
DAY seems to have curtailed the
way of shipping sales. Export bids are
out of line and inquiry from that quar-
ter was not at all urgent. -Acceptances
fvNr ,Slor.a -
covered rather freely Wednesday, which
left the market without support.
Oats-The pit trade was light and the
prices steady through the early part of
the session, but turned weak on local
selling for long account. Receipts are
moderate and demand poor.
OConnor & Van Bergens stock letter
says:
A higher rate for call money and a
very decided falling off in the volume OF
accommodation offered has affected prices
and at least fractional declines have taken
place throughout the whole list. This
change in call money rates is natural and
has been expected, and the necessities
in st. Louis and elsewhere have required
shipments from here which will be re-
Elected in Saturdays bank statement The
bond business has been somewhat re-
stricted for the same reason, and, in fact
we have had very dull, uninteresting
market. The announcement of a pur-
chase of $2O.00O,000 of high grade bonds
of the Pennsylvania by one of the lead
lliS OditheiS mere CTedISu d SOOQ I'M
preston. This is the first transaction
of this kind that has taken place for
many months and is an unmiStakable Sigr
of a more active investment demand Al
the moment good and bad news fai
equally to affect prices to any great
degree. The recent extraordinary show
ing of the Atchison, Reading and Erie
roads fail to create any enthusiasm, and
news of money troubles in the South.
west was received with equal uncon
Germ. Reactions such as We have seer
today bring dullness, but no evidence o.
the existence of any pressure signifyinE
necessity to sell stocks, confirming the
belief that at a level very little below
present prices there are strong interests
willing and ready to purchase securities
1t is more than likely that the marlle
will remain dull until after the election
and we think every one must agree thai
the. troubles which have come to light
during the present week have been vel
taken and should go far to prove thai
underlying conditions are sound. and thai
by far the worst of Wall streets troubles
are over, even if an entire restoration OF
confidence must be slow.