The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-09-03
RAIN AGAIN MAKES
MARKET BULLISH
Wheat Is Forced Higher by
Weather Conditions i'm the
Northwest.

: Bad weather in the Northwestern states
caused sharp advance in the price of
wheat yesterday The government wealth
er map was perfect. but private advices
told of much rain throughout Minnesota
and North and South Dakota The market
was active and the upward movement fol-
lowed closely upon the bullish news. Many
. reports say that in some localities the
wheat is Sprouting in the shocks, due to
the continuous rains. The market closed
almost 1c higher.
Corn was also a strong and active mar
ket. Receipts were light and the cash
situation was strong. The short interest
sought cover yesterday helping the bull
movement. Oats followed the lead of corn
and wheat. There was good buying and
the close was strong.
The bears again yesterday attacked the
stock market but without much success
In the afternoon the market turned strong,
influenced by heavy buying in Atchison
The close was a little below the high point
for the day.
What the Brokers Say.
M. DOran & Co.'S Chicago grain letter
Says: /;
Wheat-Wheat was unqualifiedIy strong
The trade was big, with professionals and
commission houses good buyers The per-
feet weather map was ignored, private
wires reporting rain in many sections of
spring wheat belt not shown in the map.
These dispatches also said threshing
has been seriously delayed by continuous
rains and grain in shock is in a bad condi-
ton, in some cases sprouting. Cables were
strong in sympathy with this market and
on wet weather prevailing in England
Corn-There was no indication of cooler
weather forecast for the West and the
map was in all respects a favorable one
} This was ignored, however prices opened
firm on strength in Liverpool and in the
wheat pit. The rapid advance in -Septem-
/ Der soon became the feature of the session
and all options advanced on fears of
manipulation and bad crop reports The
season Is well along and crop has had
very little weather suitable to maturing it
; rOats-There was a broad market in oats
with large trade throughout the session
Heavy and aggressive buying by local
! bull leaders characterized trade. making
| a very strong market with some small
recession in price at the close due to pit
proht taking. The ca% market is firm.
j. Z. Geraghty q Co.'S correspondents
say of stocks
Logan & Bryan: The bears took an
other little whirI at the market this
morning but did not disIodge any line of
stocks. 1t turned strong later and closed
better than yesterday. There was partic-
ular activity in Atchison common The
street is all at sea to account for it. The
+ banks continue to report the demand for
money from the interior to move the
crops as unprecedentedly small. There is
every indication that farmers and plant
ers will get most satisfactory prices the
sell.
Walker Bros: The opening was dull
and lower. A traders market prevailed
until late in the day when the purchase
of several thousand shares of Atchison.
supposed to be large short covering, that
stock advanced over two points. The
close was steady at but little below the
best figures of the day.
OConnor d Van Bergen's stock letter
says:
During the greater part of the day the
market remained heavy and dull purely
professional and without feature In the
afternoon there was a sharp rise in At
mo bot
made against the large existing short in
terest, helped by the fact that the annual
report to be issued the early part of next
week will make a much better showing
than anticipated. The statement will
show that the company has absolutely
no floating indebtedness, about $40. 900 :
600 of cash on hand, and we are advised
nearly per cent earned on the common
stock. With the exception of the short
lived activity in Atchison, the market
has been repetition of that of the past
week. and there has been no news or de-
Velopment to affect prices one way or the
other.