The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-06-04
PRICESADVANCE AND
STOCKS SHOW
STRENGTH
Twin City Rapid Transit Re-
gains Several Points Lost
in Tuesdays Decline -
General Tone Of the Mar
ket Is Much Improved and
Forced Liquidation Ceases.

The general tone of yesterdays stock
market vas far better than it has been
about ceased and all the leading stocks
show strength. Twin City, which was
given such terrible drubbing Tuesday,
when it was forced down twelve points,
regained much of its lost ground. and
closed at So. But little credence was
placed in the report that st. Paul is look
All grains We're more or less weak yes
terday. Wheat opened slightly under
Tuesdays close but ruled firm throughout
the session. Damage reports continue to
come from the Southwest. St. Louis
operators were heavy buyers yesterday.
Corn and oats were also slightly under
in sympathy with the wheat market, but
trade was firm.
What the Brokers Say.
S. B. shotweu & Co.'S. grain letter is
as follows.
Wheat-Liverpool showed very feeble
response to our strength of yesterday. The
weather map shows much Improvement in
conditions and there were no heavy rains
anywhere except at Springfield, Mo-. The
0l1erent cables and Improvement in
weather conditions. The close was firm
at 5-16c under last night for July and
&c und,,r for September.
CoTn-This was again the strongest
grain on the list. The opening was lower
on the fine weather. but the Southwest
bought freely on the break and the mar
ish.
Cats-The opening was a shade lower
On favorable weather conditions. The
market was inactive, but inclined to
strength. The close was a shade under
high prices for the day and about the
same as last nights prices.
NJ. DOran's Chicago grain letter says:
Wheat-The market opened easier on
Improved weather and disappointing ca
bles. A partial recovery followed and
the market held steady with strong I'M
Certone but light trade. The government
Bulletin reports injury in Iowlands of Kan
QT0F7 NEalaT e1-l 1NI-f fTc-fa
reSS on the whole. California prospects
are not promising. Our Southw eStern cor
respondents continue sending discouraging
adviceS. The board yesterday passed a
rule making No hard western whea t.
CeIlH cradle on contracts at discount of sc
per bushel All orders. unless otherwise
stated. viii be considered new STYLE"
Corn-Prices broke lie at opaaing on the
promise Of clearing weather and compare
lively small advance in Liverpool. Early
offerings were quickly absorbed and the
market became very strong. Country ac-
ceptances Were only moderate. The Ne
braska department of agriculture express
es alarm at the crop situation. The stu
demand.
There was some disposition to sell
at opening on improved weather condi-
lions and in sympathy with the other
grains The market was quiet the bulk
OF session but firm. with a light trade,
and no special features. The government
bulletin reports that the oats crop suffer-
ed in the low lands of Kansas and Iowa
but on the whole maintained it's condition
J. G. Geraghty & Co.'S correspondents
say of stocks:
Logan & Bryan-The market is without
much change. 1t was strong. early and
closed little easier. 1t is still nervous
market, but the indications of general Iio-
uidation are lacking. Money is perhaps a
little stronger, but not seriously So It is
rumored that the st. Paul has acquired
control of the Erie. It is valuable com
binatiOn if true. ~ 3.
NOrfOn-Tbo cfravotJa IN
firm tone to the market in early afternoon
and d more confident feeling all around.
Among rumors regarding Erie. the most
pfoDaDle seems that the MOrgan-Hi in
tereSt has been making sure of effective
control prior to the dissolution Of the vot-
ing trust
STEADY and strong, and with quite heavy
buying IN the good stocks. Canadian Pa
cine and Twin City advanced sharply after
yesterday $ slump on the idea that Can
adIan liquidation was over for the time.
DICK BroS.-The market has been very
rEegula1ri ar After a weak first hour the
smart rally In which the better class Of
railroads led. The buying was fairly good
and ,t no attention tent ON, was given to gold ship
says:
The better feeling of Yesterday has CON
tinued and the advance in prices main
tanned. Business continued to be profess
Sional and there is no indication of any
great outside increase. The Pennsylvania
statement for April was far better than
anticipated, and the large proportion of
the gross increase carried to net earnings
show the wisdom of the large capital ex-
penditures made Liquidation for the pres
ent at least seems to have ceased. The
general feeling, however, is that while
prices should rally somewhat further, we
cannot expect at once any Substantial ad1
vance or increased activity, and we must
lGok for dull summer. The attitude of
Wall street changes quickly and without
great reason; therefore no one is safe in
predicting the future course of the mar
ket. As everyone knows, loans are still
some ST, 100000 in excess of deposits. and
while this condition is not reassIIri ing
nevertheless 1t should be remembered that
TO very large extent our foreign none
tary obligations have been Cancelled and
replaced at home, and that while wear
ago our foreign credit was extended to IFS
limit, today our Indebtedness is but small