The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-30
WHEAT is AGAIN
PUSHED UPWARD
BY BULL CROWD
Unfavorable Harvest Returns
Cause a Decided Bulge After
a Weak Opening-Corn and
Cats Are Also Strong.

The wheat boom was again resumed
yesterday, and for the first time in sew
eraI days this grain showed great indie
pendent strength. On improved weather
conditions and lower cables the market
opened lower, but on the decline there
werea numerous good buying orders and
prices quickly recovered from the early
slump. The advance. which was due to
poor harvest returns. continued until the
close, which was Ac to 1870 over Tues
day.
Heavy rainfalls in the corn belt re
suited in weak opening. But, like wheat,
the prices soon recovered their loss and
the upward movement continued until
the close. All offerings We're quickly abb
Sorbed. The close showed a gain of Ac
to 4zc for futures and &c for July.
There was a large delivery of contract
oats received yesterday and prices de-
clined in consequence Both brokers' and
commission houses sold. After a sharp
decline oats followed the lead set by the
other grains and advanced steadily until
the close, which was Nc to &c higher.
The stock market yesterday was ir-
regular. Prices showed some improve
ment at the opening. Later there was an
organized attempt to bear some of the
strong railroad securities. The market
will probably be dull for some time to
9ome.
s What the Brokers Say.
M. Doran & Co.'S Chicago grain letter
says:
Wheat-Improved weather and lower
cables made weak opening. The decline
found ready buyers and prices recovered
the loss and ruled very strong to the
close. The reports from all quarters, exes
ing yield and condition of spring wheat
crop as viewed by official and private OBJ
servers is very discouraging.
C2rn-There was sufficient selling by
Hpafn rod h. nro1 info
throughout the belt to break corn 9sc to
&c at opening. The liquidation of past
few days placed the market in a good
position to absorb the offerings and the
recent profit takers seized the opportunity
to reinstate their lines. The price adj
vanced steady with but small recessions.
closing at practically top figures for day.
Oats-With large amount of con-
tract received and taken from private
houses the oat market opened sharply
lower. Commission. houses and brokers
selling. Strength in other grains how
ever, stopped the decline, and, as price
steadily advanced, buying Of excellent
S. B. shotwen & Co.'S graEh letter is
as follows:
Wheat-The opening was shade below
last nights close on lower cables, but
quickly became strong on good class of
buying. and no pressure to sell of i'm
portance. The close was at top prices for
the day, showing an advance Of 1Bc to
&c over Tuesday night
Corn-The market opened off this morn
ing on lower cables and improved weather
conditions, but showed no independent
tone The close showed an advance of Ac
to 1ac for futures and nc for July.
Oats-Prices followed those of corn and
wheat, with not much trade. The close
was up Ac to y from Tuesday night.
OConnor & Van Burgen'S. stock letter
Says:
The traders maintained their position of
Tuesday afternoon by continued selling of
the market at the opening Hot winds
We're said to have seriously affected
the. corn crop in Kansas and gen
orally along the line of Atchison
road. 1t became apparent shortly after the
opening that there was enough support
from London to prevent any great decline.
whereupon the traders reversed their posi-
ton and their covering of shorts brought
about a sharp recovery throughout the
list
Chicago appears to be the one locality
where the situation is not regarded with
equanimitY but the heavy liquidation
from that source must have placed the
banks and trust companies of that city
and its tributary interests in a vastly
stronger position than they were year
ago. The market has been intensely dull
owing to lack of interest on the part of
commission houses. Prices held fairly well
up to noon, at which time selling move
ment developed in Atchison. the report
being that pool had been formed for the
purpose of forcing liquidation In that
stock. The effect of this selling was to
somewhat unsettle the general list, but
stocks appeared well taken on the de-
j. c. Geraghty & Co.'S correspondents
say of stocks:
Logan & Bryan-The market closed
little irregular, but on the whole with
out much change. 1t is much quieter
market and shows a much steadier feel
ings The bears are hammering it in
spots. notably in Atchison and ST. Paul.
but so far have not succeeded in disturb
ing the general conditions. Unless some
thing new and important comes into the
situation, We look for quiet market and
think stocks are worth the money.
e. &, C. Randolph-The market opened
generally higher this morning and con-
siderable manipulation was in evidence
throughout the session.