The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-08-25
WET WEATHER IN
NORTHWEST CAUSES
WHEAT TO ADVANCE
Strong Cables and Poor Crop
Reports From Western Europe
Aid the Upward Movement
New York Stocks Are Dull and
Uninteresting.

Rain throughout the spring wheat belt
caused bulge in price OF wheat at the
opening of the Chicago market today. Firm
cables from Liverpool and Paris, coupled
with poor crop reports from Western Eu-
rope, aided the advance: After the open
ing bulge prices fell, following the weak
ness in corn. There was good demand
for cash wheat at Minneapolis and st.
Louis.
caused a slight decline in the price of that
grain On the favorable crop reports the
market was sold lower.
Stocks were duh yesterday. There was
but little trade. Among the strong Sc
curties that suffered from the decline were
st. Paul and New York Central There
was a rumor on Wall street that the
Could Rockefeller interests are seeking to
secure control of the Chicago Great West
ern
What the Brokers Say.
M. Doran & Cos grain letter says:
Wheat-The bulk of wheat news today
favored the bull side and prices were
strong accordingly. The early factors were
wet weather in spring wheat belt and I'M
favorable conditions in Western Europe,
particularly In France. The Liverpool and
Paris cables were firm. After the opening
bulge prices fell under the influence of
corn weakness for time, but closed
strong on report Of good export business
at the seaboard. There is sure to be good
inquiry for cash wheat at Minneapolis and
st. Louis. Peoria reports Southern mills
bidding for No. red, which Is taken as
hIl IIlQiSdllOu VI QSpl6tIOH VI HOHG sup
plies.
Corn-The corn belt has experienced
during the past two days the weather con-
ditions it should have had two months
ago. and those who inaugurated the short
selling last week put further pressure on
the values today. Early trade was largest
for some time, but it soon fiattened out
and the market became dull. The cash
demand was good on the break and about
100000 bu was worked for shipment.
j. c. Geraghty & Co.'S correspondents
say of stocks:
Randolph-The market today has been
dull and professional from start to finish,
with a generally weak and sagging ten
dency. The decline was led by New York
Central. and in fact this stock and st.
Paul were about the only important MEM
bers of the share list which showed any
decided weakness. 1t is reported that the
Could Rockefeller combination is bidding
for control of Chicago Great Western
O'Connor & Van Bergen's stock letter
says:
The day opened on a rather dull and
featureleSS market and we find but little
worthy of your recognition we can COM
municate. 1t is true that the New York
Central has shown weakness under. ru-
morS regarding an issue of securities to
meet the proposed expenditure for i'm
provements from the station at Forty
second street north. 1t is rather absurd
to bring forth an argument of this kind
as against New York Central, for it Is
well known that these changes will cost
from $4,000, 900 to $50, 900, 900, and that
the money will sooner or later have to
be provided. The next turn of the gossip
monger may be favorable instead of unfa-
vorable. In, the meantime the broader
proposition presents itself to our minds
as to whether the money conditions of
the banks and trust companies are better
or worse. In this connection we feel salts
fled that the bank statement affords
no fair index of the real position of loans,
iHasmuch as the banks allow the trust
companies per cent on deposits. and
when call rates are not above the figure
named the trust companies leave their
money in the banks and the latter land it,
1t is entirely possible that we shall have
certain amount of activity in money
but it will in no sense equal what the de-
mand would have been without the recent
LIQUIDATION. Wall street is practically
through with its severe liquidation and
whatever may come now will not be of
such nature as to cause. we think, Sc
rious distress to anyone who can offer
good collateral Securities are at a point
where they pay the investor handsomely,
and they will continue to leave the street
and be absorbed by the surplus funds of
people throughout the country.