The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-09-11
BEARISH NEWS is
CAUSE FOR SLUMP
Improved Weather Conditions
Make Weak Corn andWheat
Markets.

Wheat was a heavy and lower market
yesterday. Liberal receipts and improved
weather conditions in the Northwestern
states were decidedly bearish factors
however. the cash markets were steady
and closed without a decline. There was
lions.
Corn closed 1c lower. due to improved
weather conditions. The threatened frost
did not come and warmer weather is nov,
predicted for the corn states. The coun-
IIy offerings were only moderate yester-
Gay. me cash situation remains firm
Inc oats market remains unchanged. The
demand for cash grain is good.
The stock market is easier and lower.
down fractionally. Steels touched a new
low record mark Towards the close
there was a slight rally, due to covering
by shorts.
What the Brokers Say.
M Doran & Co.'S Chicago grain letter
Wheat-The liberal increase in receipts
or spring wheat was too much for the
wheat market and the tone was decidedly
easy. There was no rain in the North
west, but indications are for showers.
ieaVy rains were general in the winter
wheat territory, which is detrimental to
me movement of crops. Outside mar
kets Were relatively firm, not giving way
as readily as the Chicago market
Corn-Holders who have been antici-
patlng a frost were disappointed this
anu SldIleQ uIllOdQlnE their lines
The forecast for warmer weather was an
other weakening feature. The weather
While not doing any actual injury to
Inc Inc crop Is not suitable to maturing it.
heavy rains were general throughout the
west and Southwest and temperatures
We're lower. Country offereing reported
Ight and good shipping business was
O'Connor & Van Bergen's stock letter
says:
The. task of finding sufficient in
formation IN the market to form the
basis OF an interesting letter is a diff
cult one. Securities have fluctuated but
slightly. and there is no evidence of anv
distinct change in the conditions of the
investment demand there is at present
absolute stagnation in Wall street, and
this condition will exist for some few
weeks U,Seltio longer, IN our opinion: When the
market do?' the only sensible answer that
We can make is as follows: 'sProbable
guinness and possibly slightly lower
prices from time to time until the money
crisis has passed, and then gradual i'm
provement after congress has come to-
gether, until the January demand. for the
new year gives substance to securities in
general. TO strive to obtain a speculative
profit in maket like this is vain. and
we can only advise those who desire to
operate to buy their stocks, borrow the
money for six months and await the i'm
proved development in the business of
the country. which will have its direct
and favorable reaction upon the prices
of securities later on
j. c. Geraghty & Co.'S correspondents
say of stocks:
Logan & Bryan: The market is easier
There has been considerable pressure on
some of the industrials, partciuIarlv
United States steel. 1t is still a dull mar.
ket and the bulk of the selling is being
gone by pear traders. Holders of stocks
are not lfquidating to any extent. On
any breaks We are inclined to think in
Yestors money will come in the good
dividend paying stocks
Dick Bros: The market has been slug
gtsh and heavy today Large selling Of
steels was the feature and that stock
was put to a new low price The sell
Ing ing undoubtedly represented liquidation
The market closed with a slight ralIy
due to covering.