The Saint Paul globe., 1903-11-24
STOCK MARKET IS
FIRM And HIGHER
NewYork Securities Show Great
Improvement, Led by the
Eacti0n Issues.

The stock market yesterday was firm
and higher The London market opened
strong and our prices readily responded.
From London orders for more than 26,OOO
shares of stocks were received. On the
early advance there was considerable
profit taking. A reaction followed and
prices declined a little. On the slump
there was good buying and the tone Of
the market again became strong. At the
close prices were at the top notch for the
day. Saturdays unfavorable bank state
ment had no i'll effect on prices.
Wheat was an uninteresting and dull
market yesterday. Trade was light and
the trend of prices was downward. Corn
was also dull, but was steady during the
greater part of the session. Trade Is light
and confined chiefly to professionals The
oats market was firm until noon, when it
became weak on heavy selling by the long
interests.
What the Brokers Say.
J. C. Geraghty & Co.'S correspondents
say of stocks:
Logan & Bryan-There is not much
that is new to be said of the market.
is the same absence of selling pressure
from long stocks and the same lack Of
buying interest. Saturdays bad bank
statement passed without effect. The
is pool buying in Southern Pacific and
Louisville &S Nashville is strong on hopes
of increased dividend, Steel Is firm. Money
continues strong 1t is thought there is
still large dormant short interest. 1t
is a tireSome market, but it's action indi-
Gates, we think, that stocks should be
bought on soft spots
DICK Bros-The market was heavy for
time, but the pressure soon disappear
ed, and in the afternoon there was a
sharp, rally due to aggressive manipula-
by the traction shares, which were un-
usually strong and active An extremely
weak feature was Republic Steel pre-
1erred, which broke seven points on what
looked like inside selling of urgent char
acter
O'Connor & Van Bergen's stock letter
says:
The London market was firm and high
er and later on the foreigners bought
here, taking probably 20, 900 to % 600
shares on balance. Our opening was some
what of disappointment, this market
failing to respond to the higher quotations
abroad, and in early trading the bears
started selling movement under the lead
of United States Steel preferred, which
caused 1;1u IL fractional declines throughout the
list. There appeared to be some good
buying on the decline, and the shorts
Indlng they Were about the sellers, and
that they were unable to induce liquida-
ton, they soon withdrew. The floor trad
ers then took the long side and worked for
rally and prices were advanced all
around the room about q to IL per cent
from from the low levels of the early morning.
i've and the buying was of an excellent
character. Republic Steel preferred was
weak under pressure, selling down to 40,
closing at about the lowest The rumors
at1oat are to the effect that the company
IS in need of money and trying to raise
$o,O0O,O 100 and also that the next diyi-
9end Wlli be passed. The railroad stocks
displayed a good strong undertone. Louis
vile and Southern Pacific being especial
ly strong. The general market closed
strong at about the best prices for the
a md yioIl I,t
M. Doran & Co.'S Chicago grain letter
says:
Wheat-The market was exceedingly
dull and uninteresting; the fluctuations
1factlonal and un1mportant during morn
ing. May was relatively stronger The
weakness in the Northwest markets to-
wards ware S. the close affected prices here sym
pathetically. There was good deal buIl
statistical news. Primary receipts were
595,O0O bu less than last year. New York
reported fair export sales amounting 10
thirty loads. Stocks in Minneapolis, Du-
Iuth and Northwest country elevators are
15,OOO,O 600 bu, compared with 1S 900 600 b,l
last year. Northwest receipts were larger
than week ago, but still short of last
season, season One minneapolis message states
country offerings throughout Minnesota
were somewhat heavier on SATURDAY. The
opening Liverpool cables were lower and
closing stronger for December, which is u
nlgher. May leaving off at Il lower
Cofn-Corn was dull and conparativeIv
steady during the greater part of the
session. with a tendency to work lower
toward the close. Selling was started by
heavy increase in the estimate for Tues
days arrivals. Trade is light and con-
fined te pit operations. Cables are firm
and closing was 7s@Ad higher Receipts
were, light and country offerings Continue
small. Our Peoria house bought but 8
cars coarse grain on Saturdays bids.
which were full value. Demand. both 10.
cal and for shipping, was poor
Oats-Oats, after ruling firm up to mid
day, became weak on selling on long ac-
count. Arrivals were larger than eS-
pected. but estimates for Tuesday are
light again. The country is selling SPAR
1ngly.