The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-11-27
PRICES ADVANCE ON
BULLISH REPORTS
Wheat Again Takes the Lead
in the Upward Move.
ment.

Reports Of rain in Argentine made
wheat strong and prices high at the open
ing of the market yesterday, but when
later cables told of fair weather the mar
ket eased off. Fluctuations, however,
were within a narrow range and the mar
ket was dull The cash situation at Min
neapolis is strong, but futures are trlt1e
weak
Corn would have been a decidedly weak
market if it were not for the borrowed
strength from the wheat pit, which
checked the markets declining tendency.
Receipts are increasing ana the Wea Ine e
remains perfect for the movement. oats
were under pressure at the opening. The
market showed but little independence,
On higher cables the stock market
opened higher. The foreigners were again
good BUYERS After the first hour OF
trade the influence Of the better European
The decline was led by the industrials
Rails were firm and sold up, and the close
was at the best prices of the day.
What the Brokers Say.
NJ Doran & Co.'S Chicago grain letter
says:
Wheat-The market was firm, with May
relatively the stronger. Cables reporting
rains in Argentine, carried prices TO hlgh
point for the day, but when it was learned
that fair weather prevailed prices easeo
off but range of fluctuations was mar
row Trade was dull and OF a holiday
character, and prices sustained by mamp-
uIation There was nothing particularly
influential in the news. Minneapolis re-
ported a strong cash market, but futures
are a trife easier there. Receipts at Win
nipeg, 123 cars, against 1893 a year ago.
On the advance there seemed TO pc con
siderable May sold. The market IS con
trolled and it is useless under the CIR
cumstances to make any guesses on III
ture tendencies.
Corn-The firmness in wheat checked
the declining tendency in corn. Inc heW
IL. inc
is a drag on the sample market, ana
prices were lower again. The best grades
of the receipts were relatively hrn- Inc
movement IS apparently increasing Ing
December was weakest.
Oats-Oats were under some pressure
from local traders during the morning IN
sympathy with weakness IN corn, put re-
gained loss on fair commission mousse puy.
ing and on borrowed strength from the
wheat pit. The trade was small and the
O'Connor &, Van Bergen's stock letter
says: The London market came strong
and higher, and they were again buyers
Of a considerable quantity of stocks In
our market in the early trading. Our
opening was quiet and steady in response
to the improved market abroad, but after
the first half hour pressure was again
brought to bear against the 1nduStr1als
that were so severely punished Tuesday,
and they all suffered further declines.
The general market sold off fractlonally
in sympathy with the industrials, but
although the bears tried hard to induce
liquidation they were unsuccessful to any
extent There seemed to be some support
extended to the industrial issues on the
decline and prices in these shares rallied
from to per cent from the low figures.
The railroad issues held firm throughout
the session, and in the afternoon they
were very strong. selling up about 4 q II
per cent above Tuesday nights figures.
The closing was strong, with a good I'M
dertone, at about best prices of the day.
J. c. Geraghty & Co.'S correspondents
say of stocks:
Logan & Bryan-The market is frregu-
lar There is still pressure in some Of the
industrials, while others which have been
freely sold of late are having support and
are sharply higher The fractions and
rails are generally strong, and sugar
maintains an advancing tendency. II
is a puzzlng situation. When one looks
at the attractive prices of many of the
properties, their large earnings. the fact
that financial conditions are not bad and
that with the large quantity of cotton bills
maturing in the next fortyfi days. gold
is likely to be imported freely. the view is
not bearish. On the other hand. when
industrials are knocked off from S. to Sic
per share in a couple of days, confidence
cannot be very assured. So far the lat
ter feature has made very little selling
pressure on the standard stocks. If the
trouble with the industrials should have
run its course the market as whole
might easily begin to anticipate the bet
ter money conditions that are likely after