The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-10-25
HEAVY TRADE IS
CAUSE FOR ADVANCE
Wheat Closes Higher and Other
Grains Also Show Good
Strength.

Traders in the wheat pit favored the
buying side of the market Saturday. A
big advance in the December option at ST.
Louis and the strength in the other out
side markets made the Chicago market a
firm one with advancing prices. There
was some profit-taking on the advance
and the close was size for the Decem-
beT
Smaller receipts than were estimated
made corn strong market. Prices adj
Yanced at the opening. Reports from Ne
braska and Iowa say that the husking re-
turns are not as favorable as was antici-
pated. Oats were strong and steady in
sympathy with wheat and corn
The stock market was duh but strong
saturday The bank statement was much
more favorable than was expected, a big
decrease in the loan item being noted.
After the issuance of the statement prices
BECAME firm with tendency to advance.
What the, Brokers Say.
NJ Doran & CO.'S Chicago grain letter
says: f-a
Wheat: The market was very strong
Throughout the day with December shorts
furnishing the activity, the rapid adj
vances in st. Louis and New York mar
kets and the firmness in the Northwest,
being the chief incentives to cover The
cash situation continues to maintain its
strength. Southwest receipts were less
than year ago and the Northwest ar
rivals did not increase materially. The
cash demand is good. Japan is reported
as making liberal purchases of flour from
Pacific coast. The flour business is also
said to be good at Minneapolis. The
elevator interests, which have been the
chief buyers of the December, were mod
crate sellers towards the close, checking
the advance.
trade. The pit professionals still favor
an upturn, but trade is too restricted to
maintain much of an advance The cash
demand is good. Local receipts show
some falling off from estimates. Re
ports from central Illinois say early corn
IS husking out very well, but that the
Iare corn Is disappointing and great deal
or 1t VIII be light and chaffy. We are
bulls on corn.
Oats: Oats were firm in light offerings
ana In sympathy with strength in wheat
ana corn cash houses were best buyers
early in the session which suggests ship
ping business.
0'Connor & Van Bergen's stock letter
says:
Transactions were insignificant in vol
un1e and with but little change in values.
Inc market had rather an unsettled APP
pearance at the opening, resulting from
rumofs regarding financial conditions at
Pittsburg, but nothing Of a confirnatory
nature was received. Until the announce
ment of the bank statement prices were
inclined to drag, but Improvement fol-
lowed as the statement proved unex-
pectedly favorable, showing an increase
IN reserve and decrease in loans of up
wards of $1,500,000 While there is moth
ing worthy of note in the stock list we
turn with satisfaction to the continue
ION or strength in the bond market
present situation, Indicative as it is of
return OF confidence on the part Of the
investor and the probability of easier
money for some time to come. The
standard issues continue in active de-
mand.
]. G. Geraghty & Co.'S correspondents
say of stocks:
logan < Bryan: There is no change
IN prices or conditions. The market is
extremely dull. There is no pressure
from long stocks. Confidence that would
lead to buying is hampered by continued
rumorS of trouble The bond market has
been good one. Amalgamated is fairly
well supported around present prices. All
the other coppers are strong If no fur
t tt failures develop we are inclined to
think the market will work higher.
Dick Bros: The market has been
quite stagnant. The only DEVELOPMENT of
importance was the bank statement
which; proving much better than was ex-
pected gave the market a slightly strong
sr tone. This did not hold and the mar
Set closed heavy in tone, with most stocks
practically unchanged. Trading was en-
arely professional. At the close United
states Steel preferred became quite weak.
Amalgamated was well supported around