The Saint Paul globe., 1903-10-23
TRADERS FORSAKE
DECEMBER OPTION
May Is Bought by the Commits
sion Houses-0ther Grains
Are Firm.

Traders were inclined to forSake the
December option yesterday for the May.
This caused a decline in the former while
the latter held firm. The cash situation
was not as strong as 1t has been for the
past few weeks. The Northwestern
millerS have ceased buying. After the
, opening yesterday. there was a quick de-
cline in the December, and the close was
at 7912c. ~
. Improved shipping sales held corn firm
apd made a fairly active market. The
The December closed 14c higher. at 44c.
The feature of the oats market was the
heavy buying Of the May option by com.
4. source and the firmneSS in corn kept
prices firm and steady.
Stocks We're irregular and active at the
in the Amalgamated Copper case caused
a break in that security Trade was
heavy in that property and prices ruled
considerably lower. Railroad stocks held
fairly firm. poor bank. statement is
looked for tomorrow.
What the Brokers Say.
NJ. Doran & Co.'S Chicago grain letter
says:
-.Wheat-Country offerings in the North
west are more liberal and it is now GER
tain there will be an increase in receipts
next week. Our elevator interest reD6rts
more wheat bought in the country
Wednesday, Weather conditions are, per-
feet for the movement. The edge is off
milling demand. Millers were scared by
scarcity of good wheat and have bought
freely and have undoubtedly supplied their
immediate wants. Prospects of increased
movement will lead them to delay further
purchases. The easiness in the cash
market cut the December premium over
May to &c. Around the opening eleva-
tor interests and longs had the December
for sale, and there was a general dispo-
sition to change over to. May The trade
was not large at any time and the tone
was dull
Corn-The excellent shipping demand
which has been in evidence for some
time has changed the sentiment on the
floor. The trend is now bullish and work
ing that side. Country offerings are
light: although, the weather conditions
are ideal for the movement The local
cash market is 1ac higher. Our advices
indicate that in Southern Iowa there is
excellent demand for feeders. This was
not not ANTICIPATED, IN as there was a good
last season. We think corn low enough
around -42c.
throughout the session, prices ruling
above Wednesdays close. The buying
was by the same interests that were act
D.. i've on that side Wednesday Receipts
were moderate Notwithstanding the good
weather for movement and predictions
of increase. The shipping inquiry has
OConnor & Van Bergens stock letter
says:
The market was irregular today with
ont important fluctuations A general
bank failure, and prices as a rule ad-
Nanced after the opening, but there was
a marked lack of animation in the deal
1ngS, Notwithstanding industrious pro-
feSSional efforts to stimulate St Paul as
a leader of the market. There. is not
sufficient speculation to sustain advances
after reduction of the short interest, ano
any effort to secure profits causes recess
slons. The market dragged in the after
noon on light volume of business until
the last hour. when the general list
yielded. led by Amalgamated Copper,
which was weak on the decision of the
mining suit. The closing was irregular
win railroads fairly steady at the reac-
during the week from this city indi-
Gates poor bank statement on Saturday
). c. GeTaghty &c Co.'S correspondents
say of stocks:
change in position or prices The decision
In Amalgamated resulted in large trade
IN that stock and some loss in price The
rest OF the list was irregular, some a
niue hlgher and some a little lower. but
without much change. Bear efforts We're
in evidence but met with poor success.
as there was not much pressure from
ilquldating sales. On the whole the mar
ket acts fairly steady. The short inter
est mas no doubt been reduced, but we
IN conditions or outlook to change our
views that the standard railroad Stocks
are Morth the money and should be
,,,d DickIThe market has been very irreg-
qlar today: There was several rallies
but they did not hold, and the CLOSING
was heaVy. Amalgamated was the prine-
clpal influence. That stock broke sbarn
~ atter the announcement that the suit
had been decided against the camnanv
Otherwise there was no important I9eIvs
Some OF the early advances were cIea riv
the result of manipulation