The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-11-18
STRENGTH IN WHEAT
HELPS ALL GRAINS
Lighter Receipts and Short
Covering Cause the Ad-
vance i'm Prices.

Lighter receipts in the Northwest made
the opening in wheat yesterday strong.
Before the upward movement came to an
end an advance of lie had been scored
On scalpers selling prices eased off. but
the undertone remained strong until the
close. Shorts were good buyers.
Corn opened weak on reports of colder
weather from the belt, which is needed
now to cure the new crop. After the
first hour of trade the market became
strong in sympathy with wheat. Oats
also were strong, and there was good buy
ing by shorts. From the readiness with
which this market responds to short buy
ing 1t is evident that there is large
short interest.
The stock market yesterday was quiet
There was better tone to the market,
but it was entirely in the hands of the
professionals. Outsiders made some in
CURRY for bonds. but sales were light.
What the Brokers Say.
NJ. Doran & Cos Chicago grain letter
Wheat-There was a complete reversal
of the tone of the pit compared with
the Northwest news and market prices
scored better than 1c a bushel advance.
The marked falling off in spring wheat
receipts was the starting bull factor Ar
rivals were SO per cent Of a week ago and
about the same as last year Duluth later
began sending reports of better Eastern
demand and of effort on the part of sellers
to rebuy cargoes recently sold. Minneapo-
lis futures led the advance, May moving
up with December with millerS good
buyers. Duluth. St. Louis and New York
were all strong and higher. large local
elevator interest was active on the bull
side of both December and May, partic-
ularly on the advance. The wintry wealth
er predicted was fully realized.
Corn-The pit crowd started the day
playing the short side on fine curing
weather over the entire belt. The strength
in wheat overcame the influence of the
weather and in efforts to cover prices were
carried up sharply. The advance was well
maintained and the tone was steady to
the close. Commission house buyers We're
more conspicuous than for some time. In
early trading there was good deal OF
discount under May Of 7sc, portion of
which was regained later. The inquiry for
cash corn is said to be much better.
Oats-Oats were strong throughout the
session. The advance started with
strength in wheat and was maintained
by covering by shorts and better COM
mission house buying. The short inter-
est is thought to be large and quick re-
bounds from breaks seem to bear out
j. c. Geraghty & Co.'S correspondents
say of stocks
Logan & Bryan: There is not much
change in prices. 1t is a pretty hard
market to size up or on which to have
any confident opinion. Prices look at
tractive. and if present rate of earnings
could be assured, confidence would be
easier but the public is not in the mar
ket, although the investment demand for
bonds Is said to be good. There is but
little pressure from long stocks, and when
the market gets firm it looks very firm.
Dick Bros: The market has been ir-
regular, strength showed all through the
list and some noteworthy advances were
made until the afternoon when the ap-
pearance Of selling orders started the
general decline and the closing was dis
tinctly weak. Further gold engagements
were announced but in the afternoon
money on call became very firm, reach
ing per cent. The trading was largely
professional, the fractions being the
strongest stocks. There was some good
selling of Pennsylvania. Steel stocks were
O'Connor & Van Bergens stock letter
says.
The market opened quiet and steady
and advanced during the early session I'M
der the leadership of the fractions and
Sugar. The latter was advanced te
1888 on moderate dealings. The bust
ness of the day was very small and
dealings were almost entirely profes-
sional. Further manipulation was evil
dent in Alton and Toledo, St Louis &
Western and also in Kansas Southern
all of which advanced smartIy. The
floor traders were more inclined to take
the long side today. and in the early
Missouri Pacific September statement
was well received and caused favorable
comment. The buyers of the early
morning attempted to realize during the
last hour, but the shorts discovered this
move. sold stocks moderately and took
the market away from them. The clos
Ing was quiet and steady with very little
ChQnUR nrfRQC 10 OF mir