The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-06-06
STOCKS AND GRAIN
SHOW GREAT
ACTIVITY
New York Securities Open
Weak and Heavy Liquida-
ton Causes a Decline in
Prices Good Support Pre-
vents Bad Break-Wheat Is
Nervous and Sells Lower.

vous and active. At the opening it looked
as If a bad break was pending, but al
was given the securities at the critical
moment. There was heavy liquidation
during the opening hours and the bear
interests attacked Atchison and Union
- Pacific.
The last hour of trade brought de-
cided change and the heavy covering
by shorts forced some stocks up to the
high price of the day, although the list
as a whole sold lower.
The wheat market was also active an6
unsettled. and closed for the day at q
small decline. There was much profit
taking, but the strength of the Southwest
market held prices. Brokers are advising
the purchase Of wheat on all weak spots
Profit taking was the feature of the
although the market was irregular prices
held firm. The weather conditions in the
West are somewhat improved and the
heavy rains in many localities have
ceased. The corn market is now a wealth
er market and should the weather condi-
tions continue to improve it is doubtful
If prices will hold.
Oats still rule strong, and the market
yesterday was active in sympathy with
wheat and corn. The prospects for a
good crop are little better now than a
week or ten days ago. The cash demand
yesterday was heavy.
What the Brokers Say.
J.. c. Geraghty & Co.'s correspondents
say of stocks:
times the market acted as though a bad
break was threatening, but supports seem
ed to some in on the drives and in the aft
ernoOn the list looked sold to a standstiIl
In the last hour there was a sudden
change which carried many stocks up to
their best prices. The weakest stocks
were AtchisOn and Union Pacific, but
both of these rallied well.
Logan & Bryan-The market is active
and shows loss for the day. The clos
ing was strong and at a sharp rally in
Na or hory hol ooIy
enough and the unfavorable conditions
have been fully discounted. Bears are
In abundance. where a few months age
the sentiment was bullish. The short in
tereSt must be considered.
Walker-The market today opened
weak, and with further. improvement
trading there was a great deal of stocks
thrown on the market and the declines
We're heavy. The close was steady and
with much better feeling.
Rache-CommiSSio houses selling to-
gether with bear covering, accounted fol
the enormous volume Of transactions dur
ing the first half hour this morning. I'm
der the influence of lower London stocks
showed extreme weakness at the opening
but quick rally followed. Amalgamated
Copper continued to decline under pres
sure due to the decline in London and
rumors of a. bond issue to pay for new
property. The prices made for leading
stocks have been the lowest since 1901
A rally Set in during the last half hour
small rallies.
OConnor & Van Bergen's stock letter
Gays:
After an excited and somewhat lower
opening. the market, although continuing
feverish throughout the day, settled
down and has fairly well held its own
with the exception Of Atchison, which has
teen the main point of attack. Traders
have continued to sell stocks, but sup
port in moderate volume appeared ir
many places. We have very little to cal
your attention to in the way of news
The present outlook is that harmony will
soon reign again IN the anthracite region
Each day shows that the labor situation
has seen its worst. The money marke
remains about normal, and the present
Discrimination on the part Of all to pur-
chase securities gives assurance thai
there viii be no higher rate for money
Reports of damage to the crops continue
to be received. but much of this informa
ton comes from interests whose reports
have been known to be influenced In the
past by their position in the stock mar.
ket. The reports are so conflicting thai
1t is difficult to offer you an opinion Of
any value. The movement of currency
shows that the ba lks have lost 81, 600 600
but the liquidation Of the week should
make quite change in the loan and de.
post accounts, and many do not look fo
much loss in the reserve. In analyZinE
the bank statement of tomorrow it should
be kept in mind that of the heavy golC
shipments this week $4,000, 900 are in pay
ing for the subscription by the two large
insurance companies here to $4,000, 0O
francs of French loan made some time
ago. but not payable until now.
5. B. Shotwell & Co. s grain letter says
Wheat-The opening was strong at ~
above last nights close. Around 1915
the longs had plenty for sale and prices
quickly eased off, holding steady at de.
cline. Later the market turned firm
again and looked as if it would go higher
when Armour came and sold enough tt
stop the advance. About noon the mar.
ket began acting nervous and continued
so until the close. which was 1-16e undel
last nights for July and NC under fol
Corn-The opening was quiet and higher
with some realizing at the advance. bu-
selling was only moderate. The marke
was quiet all day, acting in sympathy witt
wheat and showing no Independent
strength. The close was the same q!
last night for July and Ac over TO
September.
Oats-The market opened firm AM
higher, with country commission houses
the best buyers. This commodity showed
considerable independent strength, clos
ing at an advance over last night of "a
for July and Ac for September
M. Doran & Co.'s Chicago grain lette
says:
and nervous. 1t opened strong on heav,
rains in the Ohio valley, but reacted OF
profit taking. The weather conditions ii
the Southwest were somewhat improves
and indications are much more favorable
The Kansas damage reports look a it'll
exaggerated, as only II per cent Of tn
wheat acreage IS on low lands. The Mod
ern Miller weekly report was not positiv
enough either way to be influential Liv
erpool opened higher on Missouri state re
port, but became easier at close.
Corn-The market opened strong bu
reacted on heavy realizing. There wa
good buyings on decline which checked
the break for time and the market rule,
very nervous all during the session. TIL
weather conditions are more favora bl
west of the Mississippi. The Eastern sit
uation continues critical.
Oats-The opening was Wild, with pf
fulI Of buying orders and offerings light
The market reacted from top prices Il
sympathy with wheat and corn Local de
mand for spot was good, but Eastern de
further decline.