The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-10-24
WAR CLOUD CAUSES
WHEAT TO ADVANCE
Threatening Trouble in the Far
East Makes a Strong Grain
Market.

Prices ruled strong yesterday on war
news from the far East. The elevator
interests We're good buyers of the De-
cember while the commission houses pur-
chased large orders of May. The outside
markets were all higher, which helped to
strengthen the prices on the Chicago
board. The milling interests at Mime
apoliS were again good buyers. The close
was SGAc for the December and 1874 q
79c for the May
On good cash demand and light receipts
corn ruled firm throughout the session.
There was big commission house buying
of the May option. Oats, too, were
strong and firm, and while the trade was
not great, prices We're steady through
out the day.
gamated yesterday. The fluctuations in
the quotations We're within narrow linn
Its, but during the, session about 1880
SndTeS 6 G9 4sr RsndS t+ Inc Eairoads held
think that Union and Southern Pacific
are a good purchase at the present prices
What the Brokers Say.
NJ. Doran & Co.'S Chicago grain letter
Wheat-The pit was duller than at any
time for the past six weeks. Although
trade was narrow, the tone was firm Ca
bleS were steady, affected by Eastern
war cloud, and closed Nc higher. The
early pit buying was on war news but
this was later offset by steadiness in
British consols. Northwestern opinion
seems divided on the increased move
meht. one concern refuted Thursday s
news. claiming that country OFFERINGS
We're light. The same dispatch said coun-
try elevator stocks are relatively the
smallest In years. Spring wheat receipts
are less than year ago. and the stock
at Minneapolis has decreased so far this
week 100000 blu. Duluth reports a sale
of 100000 bu of No l northern to the
East; Local demand from millers is
Corn-The sentiment in the pit con-
tinues to favor the bull side, but the mar
ket lacks leadership. The trade is lin
tied entirely to pit scalpers. Liverpool is
firm and a good demand is reported
Country offerings are fair, but the ship
ping demand shows some falling off, due
TO some extent to scarcity of vessel room
and advance Of hc in lake rates. Rather
bullish reports are coming from Nebraska
and from Iowa, showing the huSkine re-
turns to be much below promise at the
time of cutting. Estimates state that in
some sections % to 80 per cent of acrea se
will be practically abandoned, due in part
TO the September frosts. The present dull
trade rather encourages short selling We,
however, prefer the bull side and advise
our clients to buy it on all weak DAYS
Oats-The tone of the market was firm
throughout. although the trade was lin
tied to only occasional transa ctions Re
quiry fair.
o'Connor & Van Bergen's stock letter
says:
The market has developed less business
s,
and outside of a few stocks fluctuations;
has been narrow in range. The buying of
Amalgamated Copper was accounted good.
and the action of the stock assisted in
maintaining continuance of strength.
1t had been expected that the canparg' s
troubles would have disquieted senti-
ment but only fractional declines were
noted at the opening, followed by a grad
ualy Strengthening market though an
exceedingly dull one, through most of
the day. There seems no abatement in
the demand for bonds, though the stand
ard issues are in poor supply and hard
TO obtain Railroad shares hold their
advance well. To our mind the lower
priced railroad stocks. such as Union Pa.
clhc and Southern Pacific offer the best
opportunity. The movement of money as
far as could be learned is not u1lite as
satisfactory as during the previous week.
as the losses by the banks to the inte-
rlor are quite considerable and there is
no reason to expect any marked decrea Sc
IN the loan item. consequently we are NOT
looking for an altogether favorable banl,
statement. The shading of prices during
1he last half hour resulted from renewed
Tumors regarding certain financial insti-
buttons in st. Louis. While Temporarily
prices may halt. We are inclined to look
Tor further Improvement, and that in the
near future. The short interest is still
large and sentiment sufficiently honefrI
10 create buying power on declines