The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-06-22
STOCK MARKET is
STILL IN HANDS
OF PROFESSIONALS
Saturdays Trage Shows Little
Activity, but Prices Remain
Firm and Steady Weekly
Bank Statement Is Less Fa-
VOrable Than Was Anticipat.
ed.

featureleSS. Trade was dull and inactive
and entirely in the hands of the profess
SIGNALS. There were but few changes in
quotations and the list held up well under
the slight pressure of the bear element
which followed the publication of the
weekly bank statment The statement
was not as favorable as anticipated but
in no way could it be construed as bearish
The development in stocks during the
past week has been sufficiently favorable
to indicate a better feeling among in
Yestors.
Wheat at the opening advanced on re-
ports of rain in the winter wheat belt, but
later signs Of weakness appeared Just
before the close there was another bulge,
que to reports that Armour was a heavy
buyer. The close was from 3-16@ nc over
Friday.
The cool weather is retarding the growth
OF corn and reports of a backward crop
sent the market skyward. On the ad-
vance there was considerable profit real
izing by the longs, and prices declined
The close showed a slight gain, with July
1sc and September 1-16c over Fridays
close.
Oats was dull Saturday. although Germs
strength held the market firm and
steady July closed higher.
What the Brokers Say.
O'Connor & Van Bergen's stock letter
says: - -
Affairs here can be dismissed with short
comment, Tor the trading in today'S mar
ket mas proved so absolutely professional
ana the inactivity has been so pronounced
that changes in quotations are without
material significance. Some of the promi-
nent traders, anticipating a good bank
statement, and fearing a repetition of last
Saturdays market, sold stocks early in,
the day with the hope of getting them
back after its publication. London was
a small factor in the trading and indeed
there- was little outside interest DISPLAYED
at any time. On the whole the develop
ments OF the past week are towards i'm
prOVenent. Liquidation of q pressing nat
ure appears to have been disposed of
rates for money are more in favor of the
borrower and we see more disposition to
Duy stocks on weak spots. Both the grain
ana cotton markets show an easier tone
and crop prospects are excellent except in
a Few localities. The selling of Shelter
common was due to the closing out Of
stock bought a short time since in antici-
patton of dividend and the failure of the
directors to act The bank statement was
less satisfactory than anticipated but NOT
sutnclently so to materially change prices
say of stocks:
Dick Bros.-The market has been dull
and irregular today. 1t was under mod
crate pressure and prices yielded some
what both before and after the bank state
ment appeared. During the last ten min
In the railroad stocks. The bank state
ment was disappointing, showing smaller
gains IN cash and in reserves than was ex-
pected
Walker Bros.-In the early trading the
market was steady. but after the bank
statement prices eased off and in some
cases became weak. We look for a con-
tinuance OF this sort Of a market for some
time to come
Sharpe & Bryan-The market was irreg-
uIar, with few important changes Most
QXnnFIanRhd 10
bulllsh and when the market shapes itself
definitely We think the movement will be
toward higher level.
Bache & Co.-The opening was without
interest. Lower London prices did not AFT
feet sentiment. The market Continued
firm but dull until the appearance of the
rather puzzling. The bears have made.
desperate efforts to break the market this
week and took advantage of every weak
spot to do so, but without avail.
zimmerman & Forshay-The price
movements during the week have beer,
cratic The bank statement, whiIue fair
~ favorable, failed to meet expectations.
anticipated. We are inclined to think
the tendency of the market will be ouier
er with stocks being established on q.
Logan & Bryan-The market is verv
quiet and easier. The street was disan.
pointed in the bank statement A quiet
market is. in our judgment, likely
NJ. Doran & Co.'S Chicago grain letter
says: $3.50
Wheat-The market showed signs of
weakness with the exception of a bulge
at the opening, caused by bryine IN
shoWery weather in winter wheat beif and
light offerings. There is some disappoint-
ing threShing returns from S0ufherI Mis-
souri,. which are offset in a degree nv ~ the h.
estimate of 740, 900, 600 bushel crop by
Jones. of the Commercial West. Indica-
lions are for unsettled weather
Corn-The weather Is too cool throrte,I-
out the corn belt for growth, and this in
Muenced some buying at the opening.
IN, Inc market. however, had to take a good
there was more or less realizing ali daV
unless the demand improves II, is IiIxefy,
that the local stocks wiIl-show some in,
Oats-The market was dun and fairly
steady for September and December
Inc Inc ~, July, however, was firm and frac-
tIonaHy nlgher. The market in general
SHOWS tendency to sympathize with the
movements in corn. "-e4A 'iie
S. B. ShotweH &, Co.'S grain letter savq.
81, Wnea tt he opening was 1rmer on talk
OF unfaVoTable weather conditions in
france and Germany. Local bulls and ST
LoulS were the best buyers. The early de-
nlahd Tor July being satisfied. the mar
ket turned lower and acted neayv IInfiI
near the close, when it advanced sl1arnII,
on reports of buying by Armour and he
sSouthWest, The close was up 3-16c to &c
IRON last night. The situation at presen On
prices for wheat AZ 'siiei
Corn-The opening was higher in SYM
9 pSs nv with n. wheat and on demand from
sc6tIereq shorts Early some of the i'm
portant longs sold freely and selling seem
ed TO be Of better class than hIIv3no a11d
M ,oe c,o ulopped 70 below yesterdays close
ne crosse was &c over last night for JIIIv
ahd I-I6e over for September. -
Odts-Ihe- opening was dull and staadv-
- i9o syInp mp, with higher corn and wheat.
ana trade was light The close 80
a.long and higher in sympathy with wheat