The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-06-17
BEAR RUMORS CAUSE
SECURITIES TO
WEAKEN
Stocks Sell Lower and Liquida-
ton Is HeaVy---RaIIy Comes
During the Last Hour of Trade
---COm Leads the Grains i'm
Activity.

At the opening of the stock market yes
terday the bears had the situation well
in hand, and the pressure Of that element
was so strong that prices rapidly fell
The London market was also weak, due
to bearish rumors originating on Wall
street. There was talk about the renew
al of hostilities in the anthracite district
and the probability Of Atchison passing
the next dividend This news greatly de-
pressed the market and the shorts took
advantage of the decline to cover During
the last hour of trade the scattered hqui-
dalton ceased and prices strengthened
closing at about the same figure as on
Monday.
Wheat did not display great strength at
the opening yesterday. The cables lacked
snap and there was little demand After
period of dizziness some activity was
developed and the close was strong at
no advance over Monday. Corn sold well.
Country acceptances were like and there
was a good demand from the East AT
the opening the market was inclined to
be heavy, but after an hours hard work
the bulls had the market under control
and prices scared upward, closing at an
advance of 11sc for July and 1ssc for
September. Oats also showed strength
and there was a good market for that
grain.
What the Brokers Say.
NJ Doran & Co.'S Chicago grain letter
Wheat-The market was bartly steady
early but near the close prices We're
stimulated by strength in coarse grains
Inc routine news offered little incentive
70 buyers The weather map was season.
aple throughout the winter and spring
wheat belts and cables lacked the snap Of
Monday. The Liverpool market was lie
COrn-The strength in the cash market
guided the course Of future prices Ex-
porting houses and shorts We're good
buyers and offerings We're light. Country
acceptances We're again small and de-
mand for export and from the East brisk
Local stocks increased the past week
only $1,000 bushels
Oats-Ih1S market was right in line
Win corn and very strong and higher with
good demand for local receipts and for
shipment
ed stronger on lighter run of hogs than
was expected, and firm prices at yards
me market became duh with a very light
trade and prices closed easier
s. B. ShOtweu 6, Co.'S grain letter saws.
Wheat-The market opened steady with
the local bulls confident and aggressive.
81. Louis sold moderately Prices adj
Eanced steadily in sympathy with corn.
out on all bulges there seemed to be
plenty long Whent of a good class for
sac. Inc close was same as last night
Corn-Ihere was not much pressure
az the opening and local bulls worked
nard Tor an advance. Sentiment all over
NAAC AAOO1 WI DIS DulIlSn. Later the market
especially the September, developed
phenomenal strength and advanced rapid
", closing July 11gc over last night and
September. "a G11ae over.
Oats-At the opening there was not
!nuch pressure, but local bulls appeared
inclined to sell out long July and reDIa &c
py purchases Of September and December.
The market was not very active, but held
strong in sympathy with corn, closing at
top prices.
o'Conner & Van Bergen's stock letter
says:
Sympathizing with the decline in Lon
don, our market opened weak and for f1e
INST INST ho'- and half had a very disagree
able appearance. Rumors and ex-
aggerated statements of all kinds were
freely circulated, and liquidation was
nuch In evidence, while the activity of
me- DEAL FORCES was again pronounced.
imminent in the coal districts did much
10 depreSS prices, and the rally this after
4OOn Is IN part due to the realizati Of
Sne nnprobablIIty of such an event as
also TO the covering of contracts by shorts
I4Iough commission houses were apparently
cong no more than yesterday. Ira ders
pougnI some stocks when prices were
most depressed, and these they have been
aoie TO sell at profit this afternoon
estern interests, which We're heavy
SeIIeIS IN the early part of the dav are
reported as being buyers of stocks this
afternoon. The first payments on the
pennsylvania subscriptions are reported
70 nave been highly satisfactory and fbe
Likelihood is that the underwritinp sv IN
oIcdte VIII receive little or no stock The
money market continues easy the dinin-
jiS 5,t- prospects Of gold shipments help
ms - create THIS condition. It is fruit
less TO make predictions at This tirna DC
70 the immediate future of the marIret
to4Gz a,r rs OF Iate have been so alb
son. There is more disposition on tba
part OF the public to buy stocks on de-
e efcier Pu u wiener or not this will be
attacks of the bears remains to he seen