The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-06-14
UPWARD MOVEMENT
IN SECURITIES
CONTINUES
Prices Again Range Higher,
Although There Was Some
Profit Taking-Bank State
ment Is Even More Favor
able Than Was Anticipated
Grains Remain Firm.

The advance in the price of stocks con-
tinued Saturday, and the high point since
June l was reached. Howe yer. shortly
after the bank statement was issued
declined. Before the close they recover
ed and sold but little below the high
mark. The bank statement for the week
was even better than was anticipated.
Grain ruled firm yesterday. The wheat
market was strong but dull. There was
considerable scattered selling at the open
prices became strong and closed at a
fraction above Friday. Corn was mac
tive and closed without change. Oats de-
veloped consid 0rable independent strength
and showed a light gain. The weather
conditions continue favorable.
What The Brokers Say.
M. -Doran & Co.'s Chicago grain letter
says:
Wheat has been strong but dull in the
absence of English cables and influential
news; fine weather conditions prevailing
throughout the West eaSed prices mo-
mentdr1ly at the opening. Indications point
70 clear weather and rising temperatures.
minneapolis receipts this week are 500
cars over last. A conservative observer
estimates Kansas will make SIS per cent
OF crop and this news induced some
local buying. =.
Corn was strong on light trade and with
tendency OF prices upward Favorable
weather for replanting exists Throughout
the West, while drenching rains fell in
drought section of East The@fatter 7eX-
ertedS less influence in prices than had
been anticipated.
Oats We're firm and July strong on. active
puylPg by shorts. The cash situation helped
the future price, as~both local and Shin
ping demand is very good. =
5 b. Shotwell & Co.'S grain letter
Wheat-The market opened duh and
neaVy, With good deal of scattered sell
ing. st: Louis sold moderately Buying
was OF little Importance at the opening.
Later some local professionals bought
on report that well known big Kansas
farmer and Spectator estimated crop at
ohIy DO per cent of an average of past
lew years. The close was strong at about
me nigh prices for the day with July
else over last night and SO over for
Corn-The opening was very dull with
out a single new feature and remained
inactive Iia5 all day. closing same as last
Oats-The opening was a shade lower
on the favorable Eastern and western
weather. but quickly developed indie
P9e7nldeRt strength and advanced easily to
per. Al these prices there seemed to be
p6 5enIy 5or sale and prices declined to
$$oSs gSS@4c for July and 333sc for Sep
TEMPER. where they closed.
j. Z. Geraghty & Co.'S correspondents
say of stocks: %
Dick-The market continued buovant
After the good bank statement anneared
there was some general realizing and
prices dropped back, but their tone al
the close was firm.
Walker Bros.-The market TODAY omen
ed steady, and although London prices
came IN lower there was some good Inv
ing an9 traders covered. We look for a
Iraders market next week, and while
We 90 not expect to see any such Honda
IIou aS TOOK place last week we do NOT
io9h I9r any great bull movement.
again opened strong this morning and
tLIoSt STOCKS advanced to highest prices
1Inley have reached on this movement
Ine tone continued to be very strong nm
III the appearance of the bank sfate-
Inent. 1t was generally Construed as q
very favorable showing, but it induced
sof Ga 81 ProaI+-5Iaklng, under which prices
s4Iu OH rapidly, the declines avera gine
.Harriman--On publication of han.
f SIialei tte there was considerable real
1zIhg throughout the market and the beare
attempted to depress prices, a very con.
SIueTaDle line Of shorts being put oIit DIR
ing the last half hour. We think the re-
MONDAY viii see renewal of bull mar.
Logan & .Bryan-The market practical.
~ holdS the advance Of the past few
Gays. There was a good deal of profit
taxing, as IS usual on SATURDAY. AT an ad.
vance. The outlook is in our Judgment Z
rlnch s5eadleT one The bear element has
their operations, which we think viii
require something new in the situation t.
@O'Conuor E. Van E9er,,o, -
says: S'och leItei
Belief that the advance Of the last two
uayS had peen too rapid was taken adj.
vantage or by the traders and onanino
prices were fractionally lower but com.
mission mousse buying was mich IN e11i
qehce and all stocks offered wera ni,icl1-
~ ABSORBED. Transactions have hean m
a smaller scale, but prices have reTnain 81
Itm and steady throughout the dav 60
tlrnent Is divided as to Whefhar a.
cnange IN feeling has not been too e,,ddar
and severe to continue or whether Trica.
are not entitled to a further slIhs+e nfja
ADVANCE. Notwithstanding the rise of fo,1,
or five points in all active shares 90,
the low point of this week stocks art
Selling but slightly above the level Whert
they We're June 1, at which time If ms
De remembered we had had a continues,
oecIne Tor period of more than fhret
months: Irregularity as to movement /,
pound to prevail, sharp rallies and nrof
taking closely following each other b1,
we believe that the general trend =" q
prices VIII be UP rather than down oil
tnough We are not likely immejitaeiv r.
see active speculation. The banlS sts+e
ment, which was much better than M.
mad anticipated, showing an Increase ~
S4.4oVOeO IN the reserve, although the de
crease IN loan and deposit accounts wa,
about equaI. was followed by consjdera hi,
proht taking and selling by shorts h,I
the closing prices show onIv fracfiona
declines from the highest prices of ths
day. 0s VI tut