The Saint Paul globe., 1903-11-08
GRAIN MARKETS ARE
DULL AND INACT TIVE
Northwestern Offerings Show
Decrease and Better Prices
Are Predicted.

Wheat was dull and uninteresting
market Saturday. There was very little
news to influence option trading. The
offerings of spring wheat at Minneapolis
have fallen off, indicating that the farm
erS win wait until prices again advance.
Rain and snow are predicted for the
Northwest. and if the forecast proves
correct the change in the weather Will
mean that the receipts will fall off
greatly
Professionals had complete control of
the corn pit yesterday and the trade
was entirely of a scalping nature. The
ScalperS favored the selling side, and
large amount of the grain was offered.
The country movement is falling off and
an end to the ideal weather conditions
is promised. Oats was dull in sympathy
with the other grains. Trade was limited
and country offerings are running light.
SteelS governed the stock market Sat
urday There was but little trade in any
other securities. The heavy liquidations
in the Stees came to an end and after
the slump early in the session, Steels
showed signs of strength. The bank state
ment was considered favorable. An ad
vance in railroads is looked for next
week.
What the Brokers Say.
NJ. Doran & Co.'S Chicago grain letter
Says:
W16dl-IU lie IndIheI ldpS6u lnlO uu1l-
ness again. Trade was light and there was
very little news to influence opinion. st.
Louis had the December for sale. and it
again went to a discount unCS May.
Minneapolis reports less spring wheat Of
fering in the country the past three days
on account of dissatisfaction with prices.
This may mean that farmers have their
own ideas of value of the product and are
able to hold 1t If prices are not SatiSfac-
tory. The forecast promises rain and
snow throughout the Northwest, which
will break the long period of perfect con-
dition. Outside markets were easier early
in the session, but recovered toward the
close.
Corn-The trade fell into professional
hands again. ScalpeTs favored the selling
side on the ideal weather for curing the
crop There was no influential news. The
country movement from first hands is
falling off and receipts next week are eX-
pected to run lighter The demand is
rather slow. The Liverpool market was
unchanged.
Oats-Oats were easier, with a very
limited trade, December ruling relatively
stronger. The country offerings are light.
Contract stocks will probably show a fair
increase Monday, as elevator interests
have made d good many during the past
week. The demand is rather dull.
J. c. Geraghty & Co.'S correspondents
say of stocks:
Hutton-The heavy liquidation in Steels
has ceased for the time being The bank
statement was looked upon as being fa-
vorable. The prospects of the coming
week in the market will be that the
dominating feature undoubtedly will be
the action of the SteelS and the money
requirements West. Railroads are likely
to do better Monday, but much further
advance is likely until the situation has
been cleared
Baehe-The market opened heavy and
was still under the influence of the Steel
stocks. There was d slight disposition on
the part of the bear traders to cover, and
this impaired q Steadier tone to the Steel
issues, which at the close of the session
became quite strong. AS usual on Satur-
day interest centered in the bank state
ment, which proved better than eX-
pected.
quieter and closed firm. There was a good
deal of covering of shorts in Steel stocks.
1t would seem as if what little depression
there is in the iron and steel business
has been pretty well discounted.
OConnor & Van Bergen's stock letter
says:
London was. higher, but our market
failed to respond The Steel issues were
under pressure in the early trading, the
preferred selling down to 81 on moderate
dealings, but soon recovered. The rail-
roads were fractionally lower in sympathy
with the decline in Steel, but there was
no apparent pressure to sell stocks, al
though rumors are plentiful that the bear
crowd is going to attack the standard is
sues. Sterling is weak and lower and re-
ports are circulated that negotiations are
pending for large importation of gold.
The bank statement was better than eX-
pected and had tendency to steady the
market. The closing was quiet, with a
firm undertone, and prices generally are
slightly above last nights final fig
ureS.