The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-09-12
TRADING is SMALL
AND PRICES LOWER
Wheat and Corn Are Forced
Downward i'm Spite of Bull
ish News.

Wheat closed lower yesterday. Influ-
enced by the government report and
poor demand the bears had little trouble
In getting control after the first hour of
trade. News from the Northwest is any
thing but bearish. The continuous rains
have delayed threshing and many reports
say grain in the shock is now sprouting
Corn was also lower. The government
report was not as favorable as was ex-
pected. Notwithstanding bullish news
the market declined fractionany. The
weather throughout the corn belt is I'M
settled and frost is feared The oat
market is steady and unchanged
Stocks continue duh. What trading is
being done is entirely by professionals
While the market is extremely dull; it has
better undertone and prices were frac-
tlonally higher at the close
What the Brokers Say.
NJ Doran & Co.'S Chicago grain letter:
W heatLThere was some local covering
Dut the pest prices of the day were made
under the leadership of the Northwest
markets. The September at both Min
neapolis and Duluth was very strong.
said to be caused by shorts. who feared
the continuous bad weather would lesson
the receipts. After the first hour the
pil ptCetIIlG llIefGSS and prices ORA V.
closing very weak. The weather map
SHOWS unsettled weather conditions in
, the Northwest. An examination of a
number of fields shows the wheat to be
Sproutng in every case.
Corn-Ihe government figures played a
little part in the early fluctuations in the
corn PIT. The fear that cold weather in
the Northwest would move south into the
Mississippi valley, as forecasted. was
more potent and ran smaller shorts to
cover. On the advance long corn came
out rather freely, and as prices gave way
stop loss orders and the bearish element
assisted in the decline. The government
report was about a standoff
Oats-Oats opened strong with general
Duylng on bull1Sh government report On
the advance there was profit taking by
local longs Their selling and the weakness
in wheat and corn closed the market a
shade lower
O'Connor & Van Bergen's stock letter
says:
We fear that there must be decided
monotony to our daily letters, since there
Is so little that is new or interesting
in the way Of gossip to place before YOU
one days market, except for such fluc-
tuations as the professional element
made. is a duplicate of the previous
one. While the prevailing conditions are
highly Improbable to most Wall street
interests, we recognize it as distinctly
fortunate that so quiescent a condition
OF affairs exists pending the maturing
of crops and the conditions of the money
market. incidental TO the movement of
friends to take on any new ventures lust
at this time. There is very little to tell
you regarding the market. The pressure
apparent in the steel shares in the early
part of the day is wanting this after
noon, and the general tone Of the market
is strong. mainly in response to the ia :
vorable dispatches regarding the crop Sit
uation. The indications are that the bank
statement tomorrow will show less money
shipped to interior points than might have
been anticipated.
]. c. Geraghty & Co.'S correspondents
say of stocks:
Logan & Bryan-The market is about
as dull as ever. but it is not so weak.
Stocks that We're weak Thursday are
strongest The reason is that the selling
was largely by shorts and they do not
find it so easy to buy them back The
fact, of the matter. as it appears to us.
IS that the holders of stocks are pretty
well satisfied with their property on the
basis of present prices When the mar
ket makes any material move we think il
will be higher
Walker-The market at the opening
was inclined to sell off, but then became
more steady, and later showed strength.
Prices advanced and the market became
quite active. There was some profit
taking in the afternoon and prices eased
off. The close was dull and steady