The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-09-01
WEATHER is FINE SO
PRICES ARE LOWER
Sunshine i'm the Northwestern
States Causes a Bearish
Wheat Market.

Good harvesting weather in the North
west and easier cables put a damper on
all advances in the wheat market yester-
day. The deliveries to be made today on
September contracts caused some Lquida-
ton. However, the cash situation is
strong and prices were a shade higher.
Corn prices are unchanged. There is
much uneasiness about the yield, but the
opinion is that if there is no heavy frost
for the next thirty days the harvest Will
be fair one. The cash situation is un-
changed. Speculation is oats is light, but
the cash market was fairly strong To-
wards the close yesterday prices eased
off.
New York stocks showed some strength
yesterday for the first time In several
weeks: Under good buying pressure prices
were forced upward. During the after
profit takers, causing a slight decline.
The close, however, was several points
above the opening figures.
What the Brokers Say.
NJ Doran & Co.'S Chicago grain letter
is as follows:
Wheat-Wheat had a decided downward
tendency most of the session and was
only aroused from its lethargy for a time
by strength in corn and oats. The open
ing was weak, Influenced by perfect har-
vest conditions prevailing in the North
west and in Europe
Corn-Corn was firm until past midday.
The map showed no precipitation and no
frost. although the temperatures were
reasonably cool for ma turing of crop. A
wire from Dennison. Ia, reporting a light
frost there, gave shorts an anxious period,
during which prices made the days high
mark. The demand was moderate and
balance of the No. 2 taken on July con-
tracts was sold at a premium over the
September. Predictions for tomorrow are
Oats-Although the opening prices for
options were &c to Il lower than Satur-
days close, the market showed imme-
date strength, responding to good general
buying by commission houses. Further
buying by local spectators added strength
to the off options. Late in the session the
weight of oats sold by interests who late
ly were prominent on long side bore the
price down.
O'Connor & Van Bergen's stock letter
says:
The volume of business has not to any
great extent increased and the transac-
tons for account of the outside public
nave not made up any large proportion of
the days business, nevertheless sentiment
has distinctly improved The market open
ed strong and active. with material gains
throughout the list, but later in the day
became dull and prices eaSed off on profit
taking though closing quotations all show
considerable gain over those of Sat
urday. The money market remains about
the same, although the visible supply has
somewhat increased Rates remain firm
Reports as to the corn crop continue to
be conflicting, but with favorable weather
from now on the best authorities believe
that 1t will be at least 1000, 600, 900, which
is a good average crop.
j. c. Geraghty & Co.'s correspondents
say of stocks:
Logan 81 Bryan-The market averages
little higher. 1t is still quiet with a
small volume of general business. Abb
sence of selling. pressure from longs is
still a characteristic. Investment buying
is rather slow, but it is noticeable that
the feeling of apprehension as to a prob
able tight money market is rapidly wear
ing away. Speculative buying has not
vet reached the confident point, but con-
ditIons are favorable for its growth
Walker Bros.-The market was steady
and inclined to be strong. There was short
covering at the opening. The strength
continued in the afternoon, but before the
close there was profit-taking and prices
eased off.
Dick Bros.-The market was very
strong and active early in the session. but
toward the close it became dull and heavy
again and a part of the early gain was
lost. The late selling. was realizing.