The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-10-18
CASH WHEAT NOW
RULES THE MARKET
Advance in the Prices of New
York Securities Is Main
tanned.

The strong cash wheat situation was
again the ruling factor in the bullish mar
wheat, sold at premium. The primary
receipts continued to run light and the
milling demand is heavy
The corn market is still dull and heavy.
The cash situation is responsible for
stronger support for the December than
the May Weather in the corn belt is
perfect and the forecast is for continu-
ance of the Indian summer temperature.
oats was also heavy and trade light. The
cash demand is only moderate but steady.
Stocks We're again strong and active
saturday. The advance of Friday was
continued and the close was several
points higher. The urgent short covering
has about come to an end, but there is a
good class OF buying developing. The
bank statement was a favorable one,
showing a big decrease in the loan item.
What the Brokers Say.
NJ. Doran & Co.'S Chicago grain letter
says:
Saturday, the advance in bids from mill
erS for the cash article being the feature
There seems to be no let up to the de-
mand and the premiums of cash over the
December continues to increase. No one
seems willing, as long as present condi-
lions exist, to sell the market short No
northern at Minneapolis sold at SAC, and
SIC was bid for No. 2 red at Detroit,
winch is an advance of lie a buShel No
red sold here at 15ac over December
The total stocks of wheat at Minneapolis
bushels. At the same time the stocks of
the No. l northern decreased 81, 900 bush
els Judging from the experience of one
elevator company operating twenty three
houses, which bought only 1900 bushels
from farmers Saturday, the country
movement is very light. A large local
elevator interest was a persistent buyer
of the December throughout the session.
and this is popularity supposed to be COW
er1ng of shorts We favor taking profits
on any further bulge but at the same
advise CaIa
Corn-Corn still felt the effect of Fri
days selling, but ruled fairly firm on COW
erlng OF May by shorts and good demand
Tor December by cash houses. There was
little of the latter for sale, however
There was an entire lack of inquiry for
shipment and no business was reported
me weather map was fine for the curing
OF corn and the forecast is for continual
ton of same.
Oats-oats were dull and heavy with
absolutely no feature to the trade. Like
corn the market was depressed as result
OF Fridays liquidation, which created a
good deal of bearish sentiment The
Strength OF wheat exerted some sustain
ing influence.
O'Connor & Van Bergen's stock letter
says:
Saturdays market behaved extremely
well and material advances have been
made, practically throughout the whole
list; but this has been unattended by any
great excitement and the Improvement
mas not been greater than existing condi-
lions fully warranted. Good railway
shares have reached a point where it can
a. De sad they provoke the buying
1t is evident that there has been accumI-
lation of good shares by investors for
some time past and the short interest
ImeetIng apparently, with no opposition
mad become so reckless that they had
gone far beyond their own depth. The
supply of stocks offered for sale is small
and it is difficult to see how the existing
short interest can settle its account with
out bringing about a very material ad-
vance in prices. good bank statement
had been expected and it came fully up
TO expectations, but with call money loan
ing at ~ per cent and time money a
drug at less than per cent we do not feel
that any Importance need be attached to
tnlS item at the present time. London
having safely passed over the settlement
day, is again in the market for securities
and we believe that this demand, together
with the short interest. should help the
market to hold its advance we'll We
do not believe that stocks have perma0
nently gone on a basis which will paw in
therefore must feel that circumstances
which have made such prices possible can
exist only temporarily and that it would
be unreasonable to expect anything more
than per cent as a permanent basis for
standard stocks. -oi
j. G. Geraghty & Co.'s correspondents
say of stocks:
Dick Bros.-Thc market was strong .nd
active again Saturday but less sensa-
tional than Friday. Urgent short COW
erinG was less in evidence Further GAINS
We're made all through the list and the
closing prices We're about at the DAYS
best figures. The bank statement proved
fairly good, showing a heavy reduction
in loans. After the close there was GOOD
demand for stocks in the loan crowd.
Walker Bros.-The market was steady
and active. and although it did not con-
1T was. strong. The feeling was mora
cheerful and the banks statement was
considered good. The future of the mar.
ket Is hard TO predict, but at the present
it looks as if the market would remain
steady and possibly make some further
ADVANCE. The short interest is large.
stringency in the money market Tha
traders are working the bull side for the
Counterrafn<uI