The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-08-09
WHEAT MAINTAINS
STRENGTH IN SPITE
Of BEAR|SH NEWS
HiuherPriCes in LiverpoolCauSe
Firmness in the Home Mar
ket-Close Is at an Advance
Over Friday = Stocks Are
Again Rather Weak.

Liverpool strength was reflected in the
opening of the Chicago wheat market
Saturday Prices were firm and shade
higher. Shortly after the opening cconsld,
cradle wheat was offered for sale ana
prices declined. However, the offerings
were well absorbed and the market
strengthened again before the ci0se
which was 1Bc under to 1sc over Friday
night
ports from the corn states were bulllsh
hut trading in the coarse grains was
light The CLOSE was firm at an advance
of 1sc to sc over Friday.
Oats showed some activity. Returns
from many sections indicate that the crop
will be almost 90 per cent short All Of
ferings were taken before the close, winch
was Ac over Friday.
Stocks were again attacked by the bear
forces Saturday and several stanoaru Sc Sc
curities suffered from severe declines. 81
Paul and Union Pacific were very weak
The bank statement was again d1sap-
pointing:
M. Doran &, Co.'S Chicago grain letter
Wheat-The advance in LIVERPOOL wa vas
unexpected in view OF our easlne Inc ,,r Tnly
started up with a prominent local eleVa-
tor interest persistent buyer OF Septem-
her. The news was mostly or DulllSh ma
The Pacific coast situation is rather pecua,
liar, Flour stocks are exhausted ana
farmers are holding their wheat .,
sCorn-The market was dull, WIN SeIy
light trade but showed advancing tenden-
CIV The strength in wheat helped some.
Manv reports are being received from
widely separated localities estimating
very poor crop outlook, ranging Iaodli oiie-
half to three-fourths of the average. .4,
Oats-Oats have shown flrmness VIII
fair volume of commission trade anu
heavy selling of December anu WAY DS
prominent long interests. these I'd
In the absence of any active demand no
FOR securities, and with some dcIlVlS Utt
the mart of the bear party, prices haH ave.
s,,ffered q decline ranging from TO per
cent in Saturdays two hours or dust
ness The bank statement again Hahes
disappointing exhibit Inc in n1@ Elm in
tbe face of the liquidation, when mas
been continuous here, which IS 1nyste ny
to the street, and has created oLst ~
feeling of doubt and anxiety, Wnlcn was
emphasized after its announcement ey Tue
Weakening of prices. An unconnfmeu
InnoOr that the ST. Paul company was
about to issue $25,OOO,oOo OF news new stof IN
the situation, and the heavlness OF these
shares was the feature. Somethlrg, ;e en-
firely unlocked for, something radlcal
must take place to alter the preVallne
views of the public and, the financial com
munity towards prevailing security Value'
before any betterment is seen.
J. c. Geraghty & Co.'S correspondents
Dick BrosIThe market has been: ex-
tremely weak Saturday, and at times
demoralized. At the same time support
was lacking and the bears We're aggres-
sive The bank statement proved unfa-
yorable and was followed by some Vlgor-
GUS selling Good stocks like st. Pau
and Union Pacific suffered as much II not
more than anything else. There was
slight rally at the close on short COW
ering. ~,
Bache-The opening here reflected the
weakness of the London market and the
disappointment of the previous day. Ine
market continued to drop during the first
hour, and upon the appearance OF the
bank statement vicious bear attack was
made on Union Pacific. The bank state
At one time the market looked as If II
would reach a panic condition.
S. B. Shotwell & Co.'S grain letter is as
follows
frmer on account Of strength in Liver
pool wheat caused by covering of shorts
there. The selling was of better class
: than the buying. At the opening people
selling December and Southwestern cash
handling houses were selling September
Later the crowd was all bullish and hang
ing onto their lines. Patten brokers
bought December on the bulge and shorts
covered September. Toward the close
the market sold off little under realiz-
ing by local longs. Inc ClOSe Was rs L
under to 1ac over Friday night.
.Corn-This market was quite dull The
pit crowd was bullish. The market closed
B@3sc over Friday night.
Oats-Oats We're also quiet and fairly
steady. After rather uninteresting SEES
sion the market closed an even Ac above
Friday night.
o'Connor & Van Bergen's stock letter
says:
Chicago Live Stock.
CHICAGO, Ill, Aug -Cattle-Receipts
300; steady; good to prime steers. $4,000
$40. poor to medium: s365@4S0; stockers
and feeders. 81. 50@4. 25; heifers, 81. 00@4. rs;
Gamers, $150@2.70; bulls, $4,000 20;
calves. $4,000; Texas $ fed steers, S. ESQ
Receipts today, 10000; Monday, 80 600;
left over, 1000; close strong. 15c higher;
mixed and butchers, $5.50@5.70; good to
choice heavy, $5.35@5.55; rough heavy,
$5.00@5.40; light, $5.35 @5:S5; bulk of sales,
$5.20@5.45. Sheep-Receipts, 1000; sheep
and lambs steady; good to choice weth-
ers. $S.4O@S.SO; fair to choice mixed. $3.50
@3.25; western sheep, s2.75@3.S0; native
lambs. sS.25@6.OO; western lambs, $4,000
Sos.