The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-09-15
WINTRY WEATHER
CAUSES ADVANCE
Corn Is Forced Two Cents
Higher on Frost Reports
From Nebraska.

Influenced by the wintry weather in the
Northwestern states. wheat became a de
cidedly bullish market yesterday and
while the advance in price for the day
only showed a gain of nc much greater
upward movement is predicted for today.
Reports from the Northwest say that the
wheat crop is ruined. All the grain which
was in shock has been soaked by the
eeaseless downpour of rain during the
past four days. Cold weather, frost and
snow has added to the deplorable weather
conditions The predictions of the COM
mission houses are that wheat will jump
several cents the next few days
Corn was the strongest market yester-
uay, closing &c over Saturday. The ac-
llon of the market was governed entirely
~! ny the weather in the corn belt states.
Ihere We're froStS In Nebraska and cool
weather Is forecasted for Iowa and IIIi-
nols: towards the close of Yesterdays
f session h mere was some profft-taking by
lungs, out the nnaI quotations were but
day NAL 401 ''i'
The gloomy reports regarding the out
look OF the crops had depressing effect
on New York stocks. The market was
uull and lstless and the quotations for
me me day We're within narrow limits. The
pears seemed to have control of the
market for the present at least
What the Brokers Say.
M. Doran & Co.'s Chicago grain letter
says:
Wheat-The cold. rainy and unsettled
weather in the Northwest and a falling off
In spring wheat receipts compared with
year ago were the chief bullish features
Ior statiStieally the news was largely of
ments were enormous and the visible
made a substantial gain of $4,000 bu
Eafly In the session professionals were
rather bearish, favoring the short side on
heavy shipments. On advance longs sold
rather freely. The Northwest did some
buying here and therir markets were
flnn ctr TN-k~
different chiefly affected by large worlds
shipments
-, Corr-Frost and forecast for more made
the uncertainty of the shorts position very
apparent and they scrambled to cover
carrying the values higher and higher
The weather is very unsettled and frost
was general in Nebraska. Cloudy and
RAINY weather in Iowa prevented frost ex-
tending over greater area. Forecast is for
clearing, in which case heavy frosts are
certain in Nebraska. The news aside
from the weather. was of small imopr-
tance and not taken into account The
strength in this pit was the feature of
to the neighboring ones Longs with
quick profits took them near the close
easing prices a trifie below the high fig
Oats-Oats have been strong all day in
sympathy with other grains and bad
weather, The market at one time was
e &c TO &c higher higher closing about &c over
SATURDAY: There was quite large trade
Commission houses led the buying and
selling was by local longs
O'Connor & Van Bergen's stock letter
says:
The stock market upon a Monday In
the summer season is apt to be dull and
todays fluctuations are not of sufficient
Importance to call for extended COMMENT
Crop reports are interesting the specu-
lative community. and this with wheat
more than anything at this time while
the money situation has become a second
airy subject of conversation. While as vet
We have been unable to obtain informal :
ton which would justify an expression Of
opinion as to the final outcome of the
crop there are many evidently still belIey-
ing that it will be satisfactory
j. c. Geraghty & Co.'S correspondents
say of stocks:
Logan & Bryan-The market is sharply
lower The predictions of frost over the
corn belt and mildly .unfavorable bank
statement Saturday have encouraged the
bears and they are doing their utmost in
selling. There is no doubt that a freeze
through the corn states would do a great
deal OF damage to the crop as 1t is on
the whole probably a month late. We
have repeatedly intimated that this Is the
one threatening condition in the situation
Stocks are not however on a pinnacle
and improvement of the corn crop is. II is
not the whole thing. The country win not
go bankrupt from the loss of even a con-
siderable portion OF the CROP Should II
happen, We doubt if it will materially af-
feet general business conditions or general
business confidence If the bears sue
coed in materially depressing prices, We
would buV the stocks