The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-06-28
What the Brokers Say.

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
hoor of the exchange and are unworthy
of comment The prevailing conditions
nave been such as We nave 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
TACT that there is no demenda for their
stocks, so absolutely lacking is public in
tefeSt. Inc bank statement, which was
awaited with much interest, was about
what was anticipated excepting that the
deposits. largely overshadoWed- the i'm
crease IN loans. 1t is q matter of in
terest that call rates have been SO little
disturbed during the past week in view
OF heaVy payments involved in the Penn
SyIYanta subscriptions. The reviews of
the week show that cotton exports have
signify increased, and the condition of
the grain crops on the whole is satisfac-
tpry' Whlle 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 hrst Of the month the market
VIII be retarded by the closer working of
money incident to this period to be fol-
IoWed by improving prices in the early
part OF the month.
j. G. Geraghty & Co.'S corrasnonden+s
say of the stocks:
Walker Bros: The market TODAY OMEN
ed steady and inclined to be strong on
good buying in PENNSYLVANIA. Later the
market became very dull and the trans
actionS light. The bank statement was
really better than expected and caused
some IttIe snort covering. We look for
somewhat better market next week,
and the Pennsylvania subscriptions are
Satisfactory. and after July 1 disburse-
m l1ene5, f fher Evil; viii be good deal of
money Tor investment The money mar
ket remains quiet which is a good sign.
The feeling is more hopeful.
DICK; The market opened under the
lead of Pennsylvania which was taken
from l2S12 to 124. After an early reaction
1t was Well bought. closing active u I'M
der 12412, and it looks like going higher
Whlie coalers and steel were steady The
bank statement was considered favor
able aii and the banks now hold in excess
Sda,Soo W. h agSalnst same amount a year
the market viii occur next week
Bache: Cheerfuiness characterized the
opening this morning There was a COM
bination of circumstances which in
Splred better feeling, among which was
the puDHcatlon OF a statement of the
Erie showing an enormous increase in
earnings for the month of May and the
successful placing of the new PennsyI-
Van1a 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.
Logan & Bryan: The market was dull
and firm. Prices are fractionalIy higher,
The volume of trade is small and n9inI1,
professional. The bank statement IS
favorable and shows an expansive ten1
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 he
bought on the soft spots
S. 3. Shotwell & Co.'S grain letter
says:
Wheat-The opining was naturally lower
under force of scattered offerings of long
wheat. St Louis bought little at the
opening. but not enough to stem the tide.
The buying of wheat did not look to be of
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 1%c
under last night for July and 1%c under
for September
Corn-At the opening there was mo
snap to the market and corn acted heavy.
The selling appeared to be Of much better
class than the buying and prices gradu-
ally worked lower until the close with
July 12sc under last night and Septem-
Der 1Bc under.
Oats-This market showed more weak
ness than either corn or wheat The JIIv
was especially weak and sold off sharn-
~ under scattered liquidation. The best
local bearish contingent were free sellers
of the May option all day At the close
July had lost 2Ac from last night and
September &c.