The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-10-07
GRAIN MARKETS
ARE AGAIN HIGHER
Corn and Wheat Become
Slightly BuIIish and Oats
Follow Lead.

The grain markets closed a shade higher
yesterday. The wet weather in the North
west has again become a factor, but will
not influence prices like it did two or
three weeks ago. The milling demand
Tor wheat is good, while the cash market
at Kansas City is firm, with elevator peo-
pie good buyers. Tie visible supply has
increased considerably.
Although corn was higher, the market
was not active. Country offerings are
still small and the cash demand moderate
oats followed corn and wheat, showing
no independence.
Stocks We're dull at the opening, but
i before the close gained some strength.
The close was shade higher
What the Brokers Say.
NJ Doran & Co.'S grain letter says:
reaction and the professional e1enant
played that side. The volume of business
early in the session was larger than for
2oallf time ana prices steadily improved,
4tSachlhg the high point just previous to
me publication of worlds visible which
9 81 Nv" an unexpectedly large increase of
n nesSUo'oUU or the week. This bit of
news quickly changed sentiment and
course OF prices. The st. Louis market
was cratic as usual, ruling on the whole.
1 nl9ut Ic TO zee above Mondays close. The
ONO ana Missouri state reports whiIe
showing nothing not known previously.
Drought rather forcibly to mind the short
winter wheat crop and exercised some
IttlIGHce on early trade. The government
weekly says rain has retarded threshing
IN Minnesota and the Dakotas and in
Jured grain in shock in South Dakota.
.+' Corn : Corn exhibited considerable
strength early. Short corn was coveraS
and as offerings were light and the h,,Tr-
ing forced prices higher The impression
prevails that Mondays cash business was
lager IMAM reported and this gave futures
material aid. Prices, however were NOT
maintained when wheat turned easy. The
december showed best strength. gettine
assistance of fair cash business The
weather favored late corn, but the fore
cast IS Tor wet and cooler conditions
winch If prolonged would DELAY maturinp,
ana result in considerable poor corn. The
faXorab l Ie we %leek KY reports generally
northern part of the belt, where rain has
retarded maturing. :
Oats-Oats trailed the course of prices
IN me other pits, and exhibited no inde-
pehdence OF action, Receipts keen mod
crate and there was a noticeable Improves
neht IN the sample market, although the
shipping demand is rather DOOR
says: 'oA te''ei
Until after noon the market was very
tame aiLalr and was simply a continuation
or Mondays dizziness and inactivity but
later developed considerable strength and
under the lead of steel shares advanced
quite Sharply. Attention has been monopL
olzed as to whether a dividend on the
steel shares would be declared or NOT and
we venture the opinion that too nuch
stress has BEEN laid upon this matter
aliu !ldt accurate knowledge of the COM
panys business and the condition of the
trade is of much more Importance and
many believe that the augmentiner of their
working capital by surplus earnings would
De OF much more advantage to the com
pany than the continuation of dividends
on the common stock, a course which
without doubt must be pursued at no
very distant date. There has been a
slightly better demand for bonds and we
have noticed the buying on a moderate
scale on the part of several of our large
uSututlons and insurance companies At
Inc same time, we still note each dav
many small lots of uncurrent issues Of
Iered for sale at material concessions from
former level of prices, showing that the
character of liquidation has not RIM lis
course and that good bonds are being dis
posed of for the purpose of taking care
or uncurrent and unmarketable securities.
At least three-fifthS of the trading on tha
exchange is meaningless and there is no
indication that the public or importa nt
nn2nclal interests are inclined AFT the
nlo gt,t TO take any part in the market
ana their attitude distinctly shows a de-
sire to prevent any increased activity AT
this time. and While it is evident, as was
so clearly shown last week, that there
Is certain level where those who are
able VIII step in and prevent further de-
morallZauon, still we do not look for any
great advance in prices for some time
]. c. Geraghty & Co.'S correspondents
Eays of Stocks: ''iiUeii' %
Logan & Bryan: The market is verv
duli and the rails generally without ma
terial change. In respect of the general
list and the general situation the bears
are suli trying to arouse apprehension
over solVencies as in the past. Their ef-
forts are Getting with poor success, how
ever. and the street is settling down to
2 tceEng Of greater confidence We still
feel that on the weak spots stocks should
be bought and that gradually the appre-
hension OF tight money and other dis
couraging influences will wear away and
the market will begin to anticipate bet-
ter conditions ahead
Dick Bros: The market has been slug
elsh and professional today. Stocks were
leadership of steel preferred. Towards
me close they became reactionary again.
tional and many stocks shoW Utldg s ipacI
losses. The days news was generally
favorable. but not important An easier
Market closed cOlOrless