The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-09-14
HEAVY RAINS CAUSE
MARKET TO ADVANCE
Storm in Northwestern States
Does Damage to Wheat
Crop.

Influenced by the weather conditions in
Vhe Northwest and a fair European de-
mand, wheat took another squirt upward
Saturday. The bear interests which
were apparent in Fridays market entire
~ disappeared when the reports of the
storm damage came from the spring
wheat belt. Northwestern commission
men say that the rains Friday night and
shocks
Corn was also a strong market. the
weather conditions influencing trade
Frost is predicted to follow the wet
weather, and this forecast drove the
was some rofit-taking. but the offerings
Were decidedly light and was soon alb
sorped Oats remains a steady and firm
market. The. cash situation is good.
There has been no change in the New
OK stock market. Trade Saturday was
within decidedly narrow limits. The week.
as was epected. but had little effect on
prices. The bear raid on steels seems to
be over.
~.e What the Brokers Say.
NJ Doran & Co.'S Chicago grain letter
Wheat-w retched weather conditions
IN the Northwest were the dominating
factors in Saturdays trading. Heavy
rams ana lower temperatures were gen
erai throughout the spring wheat belt
ana tnere IS no promise of any let up.
The situation could hardly be worse for
grains in fields, threshing and for move
ment. Minneapolis sent bullish advices
on flour sales which are said to reach a
very large total this week. The North
west and Southwest markets Were strong.
the former leading the advance.
Corn-The mood of the pit traders was
not SO bearish Saturday as late Friday.
They We're very cautious about pounding
prices In view of the weather present
and promised. The rain is rather general
and operations are some lower particu-
larry IN Nebraska. In the extreme North
west there We're heavy frosts and indica-
mons are that the storm will move
southwark into the corn belt. with a prob
ability OF frost when it clears Prices
ruled firm throughout.
Oats-The market. while small. has been
rather firm one, closing about NC over
Fridays prices. There was some selling
by local longs on advance. but offerings
We're readily taken.
O'Connor & Van Bergen's stock letter
says:
The tone Of the market has been one of
rather indifference and the trading con-
nned as TO fluctuations and volume within
the narrowest limits The items of the
bank statement were somewhat less IA
Vorable than the street had been led TO
expect. though not enough to to influence
sentiment to any great extent. Gener-
ally prices are fractionally lower The
further decline during the last few DAYS
IN the realty securities has been largely
the result of the dissolution of the I'M
derwriting syndicate and the desire on the
part of some of the participants to accept
their loss and be rid of their holdings.
The action of the steel shares during the
past week has created considerable com
ment as to future dividend possibilities
of these stocks The weather reports in
dictate that fairly seasonable condition
exists throughout the corn belt, though
IN the Northwest they are less favorable
than elsewhere.
]. c.. Geraghty & Co.'S correspondents
says of stocks:
Logan & Bryan-The market is quiet
and shade easier. The bank statement
was mildly unfavorable. but no more
than could reasonably be expected at this
season. Whatever selling pressure there
is still comes from Industrious bears.
Long stocks are we'll held, and there is
very little selling pressure from that
source. The bond houses report an i'm
proving demand from investors We can
still notice in our own business that there
are good many people looking for a
place to invest money in stocks On a de-
clining market.