The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-27
HOT KANSAS WINDS
CAUSE Big BULGE
IN CORN MARKET
Wheat and Oats Follow The Ad-
vance of Coarse Grain and
Close Higher-Weekly Bank
Statement Is Favorable.

Corn led all the grains Saturday in the
bull movement, and it Is said that several
St. Paul spectators cleared UP big money
On the advance. The opening was strong
and the tone bullish from the start.
bunch of hot weather reports came in
from Kansas which started the advance.
The upward movement continued until
the close, which was at high point for the
hay, showing a gain Of NC to 1-16c.
Wheat was a sympathetic market Sat
urday. following corn closely. The open
Ing was weak, due to good weather re-
ports and lower cables. Then favor
bble. crop report from the Northwest aid
ed the bear interests. Later the market
strengthened and closed at lie over Fri
day.
Oats were quiet and there was little trad
Ing. The prices followed corn, but did
to q over Friday
The opening in stocks Saturday was
weak. although London was higher. The
market was nervous and there was an
abundance of talk regarding more fail
ures Monday unless assistance comes to
several OF the weak commission firms.
The bank statement was favorable, al
though the loan item showed no de-
crease. 49,
What the Brokers Say.
M. Doran & Co.'S Chicago grain letter
Wheat-During the greater part of the
session wheat was sympathetic market
but towards the close the shorts started
covering on the strength in corn and
prices advanced sharply.
Corn-The market monopelized all the
strength and interest today The market
advanced with but slight reaction from the
opening. Hot. dry weather in Kansas was
the principal feature, and a great many
reports have been received from all quar-
tiers. saying late planted corn is suffer Alg
badly.
Oats-Oats opened steady with buying
OF May by commission houses and OF Jula
by shorts and by the prominent houses
long in that option. Trade was general and
throughout the session the tendency was
toward f1rmness. with closing prices al
most top and the market very strong,
though buying was mostly local
follows:
favorable. with outlook materially i'm
proved, even in the Red River valley This
news held wheat down at the start. but
later when corn became strong wheat
followed it up ard showed even more
strength toward the close than corn. The
close was about high prices of the day at
1c over last night.
Corn-Corn opened strong, with general
sentiment very bullish. Talk of hot
weather damage in Kansas induced free
buying early OF the May delivery an; and
close was strong at nc to 2 Lice ad-
vance for the day.
Oats-This market was quiet. opening
about where it closed. The close was up
Nc to sc for the day.
O'Connor & Van Bergen's stock letter
says;
II ",
Rs might have been naturally expected
Dur market today has ruled feverish and
unsettled. Rumors of further failures to
come are heard but these embrace the
names of concerns of no great prominence.
While the prices of some stocks have not
materially altered from Fridays closing
many SpeclaltleS forced for sale yielded
readily and showed wide fluctuations be-
tween sales. The bank statement as an
ticipated, showed a large increase in the
reserve, but again the loan item was dis
appointing II showed daprna 90 al
though this is in part accounted for on
the theory that the many heavy sales
Sor account of Western trust COM
panies and banks failed to appear.
a period of dullness and stagnation must
of necessity follow these disturbances
GecllneS, and though the process of re-
turning to better prices for good stocks
may be slow, we feel strongly that the
basis upon which many of them are now
selling will warrant purchases so soon as
affairs have become comparatively more
Settled
]. G. Geraghty & Co.'S correspondents
Say of stocks
Dick Bros.-The market has been very
nervous. A disappointing bank statement
end fears of further failures on Monday
were factors ard there was heavy selling
Of stocks for accounts of the firms which
failed Friday. Some railroad stocks show
ed good buying, particularly Union Pa
cific, Baltimore & Ohio New York Cen
trail Pennsylvania and Reading. Anal
gamated Copper was weak again and
Rock Island was under pressure.
Hartman says-Liquidation of some
10000 shares or more of bank loans were
well taken. The more active of them the
traders bought No one seems to I'M
derstand the maintenance of the loan ac-
count in bank statement. There are no
further announcements of failures but it
is still expected two or three houses will
have to go unless they receive assistance.
Market closed steady and we feel conf
dent that next week will see a better