The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-06-11
What the Brokers Say.

Logan & Rryan-The market is still
nervous and unsettled. There is still raid
ing by the bears and scattered iquida-
ton, but on the other hand there is q
much better investment buying in stand
ard stocks. We think good stocks should
De bought Bears may succeed in driving
prices lower, but we believe these proper
ties are worth the money and the prices
will come back.
Dick Bros.-Harzet has been democrat
Ted again today. Heavy selling and sharp
breaks IN the early trading were follow
ed by general rally, but there was re-
neWed selling later and the market clos
ed weak at about it's lowest price. BaTti-
more and AtchlsOn were again the center
OF ttSfacE anu pressure was also put upon
Missouri Pacific. The latter was extreme
" weak at the close.
Sternberger, Sim & Co.-The principal
seIlES was done by commission houses.
ana only the buying Of stocks for short
accounts rallied prices at intervals. There
seems TO be thorough liquidation through
out the entire list, and from appearances
some further will have to come, whether
at lower figures or at any rally. it is DIFF
ncuIC 10 tell The general news as far
as the labor controversy are concerned
Is rather more favorable, but the news
ABOUT the weather in the West and the
condition Of the crops is not at all favor
able and these are factors which must
De cOntended with as well as the cOndi-
ton OF the surplus reserve in our banks.
O'Connor & Van Bergen's stock letter
says:
There is but little new with regard
to the situation here that we can com
intricate to you. nor do we care to- dwell
upon ruEnors aSsOclating forced Iiq1ida-
ton with the names of one or more
houses II the street. The question is fire.
Quently asked why so many good stocks
represented by Consolidated Gas, North
west Common, General Electric and New
Ei5y en- are forced upon the market at
this time. We think it worthy of note
and as having a distinct bearing upon
these sales co recall to the minds Of our
readers the fact that two years ago a
great many people became interested in
underwriting. because of the ease with
which profits were secured. Pursuing
TITS course a great many people who were
not n a position to furT4Sh large sums
Of ready money, placed their names upon
underwriting papers without due regard
TO caution As to buying Speculatively
upon margin that attitude should only
be assumed by those who are well pre-
pared TO sustain their position IN the
event Of a tight money market in the
early autumn or late summer.
). B. ShOtWell s. Co.'S grain letter says
Wheat-The opening was firm, with
very little pressure. ST. Louis houses
were liberal buyers and local bulls were
good buyers Of September. Later the
longs began selling and prices declined
easily, closing July Lice under last night
and September Il over.
Corn-The opening was firm and higher
ant outsiders sold moderately in a. profit
taking way. After the opening Armour
was said to have bought some July and
sold out some Of September. The close
was Sc over last night for July and 3sc
Oats-The Eastern cash demand 70,
eats IS reported good. Early in the day
local bulls sold freely and prices declined
but recovered before the close, which was
Zee down from last night for July anC
Lice down for September.
u Doran & Co.'S Chicago grain letter
Whea-Tha ,,,.rl-a+ o,,o,.z + =.
cold wave IN the Northwest and in SYM
pathy with strength in corn St Louis
houses were good buyers early and the
market ruled higher until toward the
close, when free realizing by local longs
caused sharp reaction. The weather con-
ditions are favorable as far as moisture
Is concerned. Spring is selling here at e
CoTn-Prices were strong from the
start, with large local interest a persistent
buyer Of September. Weather Conditions
are favorable. The Liverpool market
closed 1BC lower
Oats-There was good buying at open.
Ing for country account, but heavy Ifdui.
dat1on set in at the advance Offerings
however, seemed well taken. Local re,
ceipts are In excellent demand at higheI
prices
- Theron Logan. correspondent for ]. c
GeraShty d Co., says Of the government.
report:
We regard the government report a.
mlIdIy buIllsh, but we believe in highe
amentaI features which undeFIie the sit
uation as We see it, and which at tn.
moment nave no reference to the new cro-
promise. First are the small stocks II
commercial channels the world over, as i
evidenced by the premium that is beinI
paid for spot grain in all nnaYgetS over mi
deferred deliveries. This would seem t,
suggest that consumption has oyertakel
production: We also believe that tn,
price Of all cereals has advanced perna
nently to higher leyal as compared (,
panic times and that were the stock.
duplicated which We're in existence tfe1
the minimum price would be at least 10
higher than was current n 1893 and 1894
The fact that No. i northern in stur
at this market is at a 21sc premium owe
the July delivery and No 2 red is q
ever the same future. illustrates tia pofn
OF tEe scarcity CO Immediate Supplies
Based on the present crop outlook ",
shI1k tho future deliveries are worth ures
ezt prices. Should any decided teteriora
ton occur In the spring wheat crop ma
teri2tIy higher prices could easily be made
We advise burning September wheat 81
tia weak places~