The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-08-10
WHEAT MAINTAINS
STRENGTH IN SPITE
OF BEARISH NEWS
FiiqherPrices i'm LiVerpooiCa
Firmness in the Home Mar
ket-CIose Is at an Advance
Over Friday = Stocks Are
Aaain Rather Weak.

Liverpool strength was reflected in the
opening of the Chicago wheat market
Saturday Prices were firm and shade
higher. Shortly after the opening consld-
cradle wheat was offered for sale and
prices declined. However, the offerings
were well absorbed and the market
Strengthened again before the close,
which was 1sc under to 1ac over Friday
night.
Corn was a dull market. The crop re-
ports from the corn states We're bulllsh,
but trading in the coarse grains was
light The close was firm at an advance
of &c to sc over Friday.
Oats showed some activity. Returns
from many sections indicate that the crop
, feringS were taken before the close, winch
was NC over Friday
Stocks were again attacked by the pear
forces Saturday and several standard Sc
curities suffered from severe declines. 81
Paul and Union Pacific were very weak
The bank statement was again dlsap-
pointing.
What the Brokers Say.
M. Doran & Co.'S Chicago grain letter
Wheat-The advance in Liverpool was
unexpected ia view of our easiness Fri
day After little hesitation our prices
started up with prominent local eIeVa-
tor interest a persistent buyer OF Septein-
ber., The news was mostly OF bulllsh ma
ture particularly so from the Northwest.
The Pacific coast situation is rather pecu.
liar Flour stocks are exhausted ana
farmers are holding their wheat
Corn-The market was dull, with very
light trade but showed advancing tenden-
cy The strength in wheat helped some.
Many reports are being received from
widely separated localities estimating
very poor crop outlook, ranging from one
half to three-fourths Of the average
Oats-Oats have shown firmneSs WITH
fair volume of COMMISSION dIa NSav af hU
nrominent long interests. These offerings
were readily taken. Close was strong and
at top. o+i,,o da,,e,d
FOR securities. and with some activity on
the part of the bear party, prices nave
suffered decline ranging from TO per
cent in Saturdays two hours OF ousl-
ness The bank statement again makes
a disappointing exhibit. The loan item
alone shows a considerable increase IN
the face of the liquidation, Whlcn mas
been continuous here. which is a mystery
to the street and has created distinct
feeling of doubt and anxiety, which was
emphasized after its announcement py the
weakening of prices. An unconf1rmed
rumor that the St Paul company was
about to issue SIS, 900, 900, Of new stock
added further depressing influences to
the situation, and the heaVlness oI theSe
shares was the feature. something en-
tirely unlocked for, something radlcai
must take place to alter the prevalAne
views of the public and the financial com
munity towards prevailing security values
before any betterment Is seen.
J. C. Geraghty & Co.'S correspondents
say of stocks:
Dick Bros.-The market has been ex-
tremely weak Saturday. and at times
denoralzed. AT the same time support
was lacking and the bears were aggres-
sive The bank statement proved unfa-
Vorable and was followed by some vigor-
Gus selling. Good stocks like st. Paul
and Union Pacific suffered as much IL not
more than anything else. There was
slight rally at the close on short COW
ering.
Bache-The opening here reflected the
weakness of the London market and the
disappointment, of the previous day. The
market continued to drop during the first
hour, and upon the appearance Of the
bank statement a vicious bear attack was
made on Union Pacific. The bank state
ment was disappointing in every respect.
AT one time the market looked as if it
would reach a panic condition.
S. B. Shotwell & Co. s grain letter is as
follows:
Wheat-The market opened shade
firmer on account of strength in Liver
pool wheat caused by covering of shorts
there. The selling was of better class
who frequently trade for Armour were
selling December and Southwestern cash
handling houses were selling September
Later the crowd was all bullish and hang
ing onto their lines. Patten brokers
bought December on the bulge and shorts
covered September. Toward the close
the market sold off a little under realiz-
ing by local longs. The close was &c
under to 11ac over Friday night
Corn-This market was quite dull. The
pit crowd was bullish. The market closed
A@3sc over Friday night
Oats-Oats were also quiet and fairIy
steady. After rather uninteresting ses-
sion the market closed an even nc above
Friday night.
o'Connor & Van Bergen's stock lette,
says:
Chicago Live Stock
CHICAGO, H.. Aug. Seattle Receipts
goo; steady; good to prime ri ne steers, 5000
and feeders, $2.50@4.25 heifers, 81 0O94 Is:
Gamers. s1.50@2.7O; bulls. $4,000 20;
calves, $2.50@7. 90; Texas fed steers, $3.50
4.5O; western steers. s3.25@45o Hogs
Receipts today. 10000; Monday, 80 900:
left over, LOCO; close strong, 15c higher:
mixed and butchers, $5.50@5. 20; good to
choice heavy, s5.35@5.55; rough heavy,
$5.00@5.40; light, $3.50 .85; bulk of sales
$5.20@5, IS Sheep Receipts, 1000; sheep
and Ia lambs steady; good to choice weth-
ers, $3.40@3.80; fair to choice mixed, 50 so
@3.2S; western sheep, $2.75@3.80; native
lambs, $3.25@6Oo; western lambs, Sd SEQ