The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-10-11
EUROPEAN BUYING
CAUSES AN ADVANCE
Wheat Is Forced Up a Notch
and Other Grains Follow
Lead.

The wheat market Saturday closed
firm and about &c higher. Liverpool
cables We're strong, due to short covering
in fear of war in the East. The primary
receipts continue to run light, and North
western millers are now buying from the
country elevator people. The cash situa-
ton is the ruling factor.
The corn market closed a shade higher.
1t was not an active market and what
little strength was displayed came in sym
pathy with wheat The cash situation is
strong. AT present the trade is of
Scalping nature. Country offerings con-
tinue to run light while the demand is
daily increasing.
Oats was again the strong market. The
strength in wheat had influence but the
market showed great independence. The
leading bears have covered their lines and
have retired from the market. The close
was about 15c higher.
The stock market Saturday was again
unsettled and nervous. The general tone
of trade is pessimistic and disappointing
and fear controls the situation. The IA
Vorable bank statement had but little
effect on prices.
What the Brokers Say.
NJ. Doran 6, Co.'S grain letter says:
Wheat-The original bulls realized Fri
day, and that pressure being off the mar
ket, prices resumed an upward course.
Saturday cables were higher on war ru-
mors and We're responsible for the strong
opening, Strength in cash wheat contin-
ues the key to the situation. The North
west markets We're up with us. Receipts
at Minneapolis are not meeting grinding
requirements, and the mfllers are buying
from elevators. This is significant as
this is the period of the year when ar
rivals are usually heavy and stocks in
creasing rapidly. Duluth is on exporting
basis and report one-quarter million BUSH
els worked. The weather is clear and
cool, but promise is for more rain in the
spring wheat belt Sunday or Monday
Corn-Corn was firm and cash situation
Is coming to the front as in other grains,
and the futures will doubtless get their
advance in due time. Country offerings
show no tendency to increase. Receipts
are moderate and shipments large. The
local stocks are rapidly decreasing and
local and shipping demand is good. The
weather is clear and cool. There was
frost throughout Iowa. Illinois and IN
Oats-Oats continue the strongest com
modify on the floor. The position is very
streng and likely to get stronger as re-
celpts are light demand increasing in gen
eral and local stocks are small and de-
creasing fast. Local operators have been
converted to the bull side and there is
some long lines in the market that were
not disturbed by the recent break 1t is
noticeable that there We're a few resting
selling orders met on advance
say of stocks:
Logan & Bryan-The market is again
unsettled and nervous and closed heavy
There was a good deal of covering by
shorts IN Amalgamated, but a renewed
selling pressure on Steel and one some of
the rails. The bank statement was IA
Vorable. The general tone of the market
was pessimistic and disappointing Fear
controls the situation. 1t does not seem
to matter that the fears are vague, nor
that the money situation is healthy nor
that the properties are, as a rule sell
ing on an attractive investment basis An
indefinite whisper that something is likely
TO happen has in the present state of wall
street mind more influence than all the Sc
Until these fears are dissipated and some
degree of confidence is restored the tears
may perhaps have il their own way.
There is, however, a tremendous short
interest which may be a disturbing fac
tor