The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-08-30
MARKET SHOWS
LITTLE ACTIVITY
Grain and Stock Quotations Are
Within Exceedingly Narrow
Limits.

There was but little change in the
wheat market Saturday. At the opening
prices were slightly higher, but on the
advance there was considerable profit
taking, which resulted in a decline. Trade
was within narrow limits and the volume
of business was light. What TRANSACTIONS
there were, were in the hands Of the
professional traders.
Corn was a featureless market. Cool
weather and reports of damage from Ne
braska had on effect on prices. oats
was also exceedingly inactive, but
there was fair demand for cash grain:
There were few changes in the price
of New York securities and business Sat
urday was virtually at standstill I'm
it will be impossible to interest outsiders
in the market. The bank statement was
again disappointment On account Of the
large loan item.
What the Brokers Say.
]. G. Geraghty & Co.'S grain letter is
as follows:
Wheat-The market is without much
change. 1t ruled slightly higher in the
early dealings, but the advance was lost
and the market closed slightly under Fri
day nights figures. The yoluma of bust
;ness was not at any time large and was
professional in its character. We see notn-
Ing bearish in the situation and still feel
that wheat picked up on the weak spots
will not do any harm.
Corn-The market has been without
feature and speculative operations on a
very small scale. Cooler weather West
and reports of damage in Nebraska as
the result of heavy rains were ignored
by the local crowd We do not think
purchases of May corn around SOC will
do any harm.
Oats-The market was exceedingly in
active. fctuating within very narrow linn
its. The market was in the hands of local
traders and influenced almost wholly by
the movement in wheat and corn.
OConnor & Van Bergen's stock letter
says:
The market opened with few price
changes and with a lack of any activ-
Jty, practically all the transactions being
made by traders. While it is evident that
the good news of the past few days has
brought about a disposition on the part of
the trading element to take the bull side
of the market, 1t is also plain that until
the corn crop is assured and the posi-
bility of tight money is passed, the DOM
Inant interest of the street will not allow
of any, substantial rise in prices. 1t has
been drawn to our attention that there
exists large technical short interest.
caused by the selling of options in Lon
don. This was a noticeable feature of the
market which preceded the bull period of
as favorable factor in the situation.
Since Secretary Shaw's announcement
time money has grown distinctly more
plentiful, and, while rates remain I'M
changed, bankers appear to be willing to
loan their funds over the first of the
year. The bank statement again proved
q disappointment, owing to its failure to
record reduction in the loan item. We
believe that the continual increase In
loans can only be accounted for by the
continued low rates for money on call
which causes the shifting of balances be-
tween the trust companies and the banks
The market sold off fractionally on the
statement, but owing to extreme narrow
ness of speculation its effect was not al
all far reaching. We anticipate a con-
tinuation Of the present lethargy, which
We believe to be much more healthy than
any artificial speculation.