The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-09-16
WEATHER FORCES
WHEAT UPWARD
Continuous Rains in the North.
western States Make Bull.
iSh Grain Market.

The wheat market yesterday closed
shade higher. The continuous rains in
the Northwest brought more reports of
damage to crop and the weather was the
principal bull factor. The European sit
uation is easier and the demand yesterday
for export was poor. A higher and active
market is looked for.
The failure of the predicted frosts to
materialize made corn a weak market at
the opening yesterday. The weather in
the southern half of the corn belt is favor
able and every day puts the crop further
away from the danger of damage by a
cold wave. Some Chicago operators yes
terday sold a large line of long corn
The stock market is stronger and high
er, but trade still remains quiet 1t is i'm
possible to interest outsiders in the mar
ket The bear element again Yesterday
raided the market, but met with little
success.
What the Brokers Say.
NJ ,Doran & Co.'s Chicago grain letter
Wheat-The Northwestern wheat situa--
tlon could hardly be stronger than it is at
the present time. Continued rains in that
territory have not only caused a destruc-
ton IN quality, but it has gone so far
that there IS no question but what it has
shortened the quantity While the news
from the Northwest has been very strong
all day and furnishes strength for this
market the foreign situation has been
siderable buying of December and selling
OF May by one of the largest elevator
concerns here. who is again becoming a
big factor in our market
Corn-ThiS was entirely a weather mar
ket up to about II o'clock when a promi-
nent heavy operator sold out his line The
forecast Is for frost generally throughout
the corn belt, especially heavy in Ne
braska. The buying on break seemed to
be of a general character. Several large
short lines were covered and there was
fore the close.
Oats-Oats have been featureIess While
the market Gas been rather firm it was
IN ms, sympathy with our markets. At one
time the market was 4 C to sc over
Monday, closing at about the same prices
The wet weather was the bull factor.
O'Connor & Van Bergen's stock letter
says:
: During the first hour of the session tba
stock market was considerably unsettled
and prices reacted sharply Apprehen-
sion OF further damage in corn and con-
tinued rumors of a Western house in
trouble and bank loans being Iiouidated
helped the decline. Later in the day
speculation became extremely dull, and
the market showed a much firmer tone
at the close. The Atchison annual re-
port is we'll worth careful examination.
The stock business at present is purely
professional and fluctuations have but
and fall of values. The outcome of crops
and the possibility of close money mar
ket nave to great extent been care
fully considered and discounted, and the
present unsatisfactory conditions here are
due, in our opinion, to the fact that pub
lie confidence has been so repeatedly
shaken and mjsled,. the announcement
from day to day of the dissolution of one
or more syndicates showing large losses
TO the participants.
j. G. Geraghty & Co.'S correspondents
say of stocks:
Logan & Bryan-The market closed
strong and higher. Raiding and selling by
the bear element was resumed again, but
as heretofore succeeded in dislodging very
few long stocks. The present owners of
securities seem pretty well satisfied with
their holdings. The short interest must
be large. The tight money scare is wear
ing away; The West is not drawing any
considerable funds from the New York
banks and in our judgment are not going
TO: High plices to farmers for every
thing produced will make a good genera
movement i'll distribution of merchandise
the coming year: There is no reason why
the earnings of any of the properties
Should decrease.