The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-11-25
FIRM CABLES ARE
CAUSE FOR ADVANCE
Wheat Shows Strength and
Other Grains Reflect the
Bulge.


in the Argentine yield made wheat
strong at the opening yesterday. The
strength continued throughout the session,
and the bulk of the news was decidedly
bullish Corn. if left to itself, would
have been weak and lower. By hard work
pit operators kept the prices comparative
" firm The movement is light, but the
cold weather is ideal for curing the new
crop. The oats market followed the ac-
ton of corn. Trade was light and prices
had a downward tendency.
At the opening yesterday stocks were
strong and higher on firm London cables
and good foreign buying. The outside
trade made our market advance, but on
the bulge there was much profit taking
and prices fell lower. The industrials were
the securities to suffer, but the raid was
made directly against railroad stocks
However it failed. as the rails held well.
What the Brokers Say.
NJ Doran & Co.'S Chicago grain letter
says:
Wheat-The market opened higher on
relatively firm cables and on influential
class of buying. A New York message re-
ducing the Argentine exportable surplus
to so, 600, 600 bu was the factor which gave
values an upward tendency and this was
supported throughout the day by the bull
lish attitude of large local elevator in
terest A number of other news items
contributed to the strong tone. Northwest
receipts. while larger compared with last
Tuesday, We're 247 cars short of year ago.
Northwest markets were bit stronger
than ours. Spring wheat country offerings
We're small May absorbed the bulk OF
trade and made most of the gain, the De-
cember moving but slowly. The course OF
prices. at least while trade continues dull
depends almost entirely on attitude OF the
elevator interest.
Corn-Corn. left to itself, would have
worked lower, but the bullish attitude of
pit operators, influenced by strength in
wheat, gave a steady tone to May. The
increasing offerings or new corn ana the
weakness of that description in the sam
pie market led to considerable December
selling and that option was weak. 1t is
reasonable to anticipate an increased
movement of new corn for the next two
weeks, as farmers are finishing husking
and are likely to have some corn to dis
pose of. The weather continues very
favorable for the movement.
Oats-The market was a duplicate OF
corn fluctuations, excepting that the tone
was weaker and there was very little
recuperative power. Receipts were mod
crate and estimates for Wednesday are
small. Demand for shipment is rather
slow, but 100, 900 bushels were taken fol
export. The sample market was dull
Country movement is light, but it Is
show any Independent strength until the
market begins to feel the effect of this
light movement.
OConnor & Van Bergens stock letter
says:
The London market came strong and
higher again, and later on foreigners
bought freely here, taking probably 20,
600 to $4,000 shares on balance. Our mar
ket did not respond to this strength
abroad, for after showing SteadineSS in
the initial trading prices sagged off frac-
tionally on moderate profit taking sales
The market rallied after the first houl
and steadier tone prevailed for a time
but it failed to hold, as the industrials
were put under, severe pressure and de-
clnes in Corn Products, Republic Stee
preferred, Locomotive preferred, Leather
preferred and Pressed Car resulted. The
weakness in the industrials caused a re-
cession in prices throughout the list, but
it failed to cause any material liqqida-
ton in railroad issues, which no doub
was the object of those who engineered
the drive. Call money advanced to 81
per cent in the late session and caused
scored further decline. The closing
was irregular and unsettled with prices
for standard issues about u to IA PEI
cent below Monday night.
Available Supply Changes
NEW YORK, Nov. 24-Speeial cable
and Geographic communications received
by Bradstreets show the followins
changes in available supplies, as compar-
ed with the last account: Wheat-UniteG
increased 1921, 900 bu; af1oat for and in
Europe. increased 2,4O0, 900 bu; totally sun
ply, increased 1851, 900 blu. Corn-United
States and Canada, east of the Rockies
decreased 1.955,000 bu. Oats-Unfted
States and Canada, east of the Rockies
decreased, III, 600 bu
The leading increases in the visible sun.
ply of wheat reported this week are
100000 bu in Manitoba, 4O0O 600 bu at the
Northwestern interior elevators, 49,, 900 bu
at Chicago private elevators 1879 0GO bt
at Ogdensburg, $4,000 bu at Portland
Me, $1,000 bu at Milwaukee private eIe
vators and 60, 600 bu at Rochester
The leading decreases are: 100 600 br
at Minneapolis private elevators and II ,00(
bu at Nashville.