The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-06-29
What the Brokers Say.

o'Connor & Van Bergen's stock letter
says:
We will not dwell at any length on the
trading done today, for most of the trans
actions have found their inception on the
floor of the exchange and are unworthy
of comment. The prevailing conditions
have been such as we have seen here dur
ing the past week with StagnatiOn and
fractional fluctuations the notable fea-
lures. Even the traders when they at
tempted to rally or help the market for
ward, ind their efforts defeated from the
ract that there Is no demenda for their
stocks, so absolutely lacking is public in
teFest. the bank statement, which was
awaited with much interest, was about
what was anticipated, excepting that the
deposits largely OVerSha lowed the in
crease in loans 1t is a matter of in
terest that call rates have been so little
disturbed during the past week in view
or heavy payments involved in the Penn
SyIVanla subscriptions. The reviews of
the week show that cotton exports have
Snghtly increased, and the condition of
the grain crops on. the whole is satisfac-
tory. While there has been no spread of
the present labor troubles. still where
they exist little progress towards adjust
ment is reported: 1t is not unlikely that
over the first Of the month the market
VIII be retarded by the closer working of
money incident to this period, to be fol-
AoWed by improving prices in the early
part of the month.
j. c. Geraghty & Co.'S CORRESPONDENTS
say of the stocks:
walker Bros: The market today open
60 steaay ana inclined to be strong on
good puylng In Pennsylvania. Later the
market became very dull and the trans
actions light. The bank statement was
reaHy peter than expected and caused
some little short covering. We look for
somewhat better market next week.
and the Pennsylvania subscriptions are
Satisfactory. and after July / disburse-
mentS there will be a good deal of
money for investment The money mar
Ket- remains quiet which is a good sign.
me 4e, feeling is more hopeful.
DICK: The market opened under the
lead of Pennsylvania which was taken
from 123k to 124. After an early reaction
1t was well bought. closing active Il un-
der 1241a, and it looks like going higher
next week. The grangers were firm.
while coalers and steel were steady. The
pank statement was considered favor
able and the banks now hold in excess
S12,900.000 against same amount a wear
ago. We believe further Improvement in
the market will occur next week.
bacne: Cheer1uiness characterized the
opening this morning. There was a COM
b1nation of circumstances which in
Epired a better feeling, among which was
the publication of a statement of the
ERIE showing an enormous increase in
earnings for the month of May and the
successful placing of the new Pennsvl-
yania stock issue. The stock market
continues IN the same old rut After the
appearances of the bank statement the
market showed renewed strength and the
close was firm.
ana firm. Prices are fractionally higher.
The volume of trade is small and mainly
professional. The bank statement is
favorable and shows an expansive ten
dency. While we do not look for anv
great activity for some weeks to come
we should regard goods stocks as worth
the money and think they should be
bought on the soft spots.
S. B. ShotweH & Co.'S grain letter
says:
Whcat-The opining was naturally lower
under force OF scattered offerings of long
wheat st. Louis bought a little at the
opening. but not enough to stem the tide
The buying of wheat did not look to be of
especially good class and most of IT an
peared to be through general run OF
commission houses, whose, people have
been waiting for some reaction to make
purchases. On poor support prices ruled
lower up to the close which was T%c
under last night for July and 1%c under
for September.
Corn-At the opening there was nc
snap to the-market and corn acted heavy
The selling appeared to be of much better
class than the buying and prices grafiTJ-
ally worked lower until the close with
July 13sc under last night and Septem-
Der 1 &c under. -
Oats-This market showed more weak
Eess than either corn or wheat The Ink
was especially weak and sold off sharn.
~ under scattered liquidation. The hesi
local bearish contingent were free sellers
Of the May option all day. At the close
July had lost 2Ac from last night an6
September &c. anu