The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-09-13
HEAVY RAINS CAUSE
MARKET TO ADVANCE
g
Storm in Northwestern States
Does Damage to Wheat
Crop.

Influenced by the weather conditions in
the Northwest and a fair European de-
mand, wheat took another squirt upward
Saturday. The bear interests which
We're apparent in Fridays market entire
Iy disappeared when the reports of the
storm damage came from the spring
wheat belt. Northwestern commission
men say that the rains Friday night and
saturday morning have done an almost
shocks.
Corn was also strong market, the
Frost is predicted to follow the wet
weather, and this forecast drove the
bears to cover. On the advance there
was some profit taking. but the offerings
We're decidedly light and was soon abb
sorbed. Oats remains a steady and firm
market. The cash situation is good.
There has been no change in the New
York stock market. Trade Saturday was
within decidedly narrow limits. The week.
~ bank statement was not as favorable
as was epected. but had little effect on
prices. The bear raid on SteelS seems to
be over.
What the Brokers Say.
NJ. Doran & Co.'S Chicago grain letter
says:
Wheat-Wretched weather conditions
IN the Northwest were the dominating
factors In Saturdays trading Heavy
rains and lower temperatures were gem
eral throughout the spring wheat belt
and there is no promise of any let up
The situation could hardly be worse for
grains IN fields, threshing and for move
ment. Minneapolis sent bullish advices
on nour sales which are said to reach a
very large total this week The North
west and Southwest markets We're strong,
the former leading the advance.
Corn-The mood of the pit traders was
not no. SO bearish Saturday as late Friday.
Iney were very cautious about pounding
prices in view of the weather, present
ana promised. The rain is rather general
ana operations are some lower, particu-
larly in Nebraska. In the extreme North
west there were heavy froStS and indica-
lions are that the storm will move
southwark into the corn belt. with prob
ability of frost when it clears Prices
ruled firm throughout
Oats-The market, while small, has been
rather a firm one, closing about Ac over
Fridays prices. There was some selling
by local longs on advance, but offerings
were readily taken.
O'Connor & Van Bergens stock letter
says:
The tone of the market has been one of
rather Indifference and the trading con-
fined as to fluctuations and volume within
the narrowest limits. The items of the
Vorable than the street had BEEN led to
expect though not enough to to influence
sentiment to any great extent. Gener-
ally prices are fractionally lower The
further decline during the last few DAYS
in the realty securities has been largely
the result of the dissolution of the I'M
derwriting syndicate and the desire on the
part of some of the participants to accept
their loss and be rid of their holdings
The action of the steel shares during the
past week has created considerable COM
ment as to future dividend possibilities
of these stocks. The weather reports in
dictate that a fairly seasonable condition
exists throughout the corn belt though
in the Northwest they are less favorable
than elsewhere.
]. c.. Geraghty & Co.'S correspondents
says of stocks:
Logan & Bryan-The market is quiet
and a shade easier. The bank statement
was mildly unfavorable, but no more
than could reasonably be expected at this
season. Whatever selling pressure there
is still comes from Industrious bears
Long stocks are well held, and there is
very little selling pressure from that
source. The bond houses report an i'm
proving demand from investors. We can
Still notice in our own business that there
are good many people looking for a
place to invest money in stocks on a de-
Ginning market.