The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-11-15
LIGHT RECEIPTS ARE
CAUSE FOR ADVANCE
Wheat Market Shows Signs
of Strength and Closes
Higher.

Wheat showed some signs of strength
Saturday and the close was at slight
advance. The tone of the market and
the character of the news were favorable
to the bullish element. The receipts in
the Northwest have fallen off consider
able, while the demand for milling pur-
poses has grown. A higher market is pre-
dicted for Monday.
Corn was an irregular market, and
what strength it displayed was caused by
the firmness in the wheat market. The
fluctuations were within q narrow range
and trade was small and confined to pit
operators. Oats opened firm, but on
slight advance a good deal of the grain
was offered for sale The market was
wholly a dependent one, following the ac-
lions of corn and wheat.
The stock market Saturday was steady
until the bank statement was issued.
Then it became weak and sold off. The
bank statement was much more favorable
than was expected A heavy run was
made on Pennsylvania and that stock
against sold under.
What the Brokers Say.
NJ. Doran & Co.'S Chicago grain letter
says
Wheat-The tone of the wheat market
was decidedly more favorable to the bull
ish element and further. reaction resulted.
Outside markets We're all relatively high
er, with st. Louis and Minneapolis the
the Northwest. particularly in regard to
flour situation. The stocks of flour dur
Ing October decreased $4,000 bbls, against
an increase in October 1902 of 279. 900
bbls. Spring wheat receipts showed a fall
ing off compared with last week. and are
slightly in excess of last year One Min
neapolS message says country offerings
are much lighter and arrivals will be
small next week. Liverpool was higher
early, but lost some of its strength later
in anticipation of heavy worlds ship
ments The close was 1sc up for De-
cember and unchanged for the May.
Corn-The market was barely steady
and fluctuations were within narrow
range FirmnesS was purely a reflection
of strength in wheat. Trade was small
and confined to pit operators. The news
was scarce. The cash business Friday
was placed at 400,0 600 bushels and ship
ments for the week will exceed arrivals,
which is due in some part to the fact
that Saturday was the latest day for
clearing to get old rate.
OatS-On the opening firmneSS long oats
came on the market Prices were steady,
but, like corn, got their tfrmness from
wheat, Trade was small and neither
scalpers nor the speculative public seem
ed to take any interest.
]. c. Geraghty & Co.'S correspondents
say of stocks:
Dick Bros.-The market has been very
irregular. 1t showed a fair amount of
frmness until the bank statement ap-
peared. The showing was much better
imam eXpeCleu IN every way Dul II was
seized upon by bearish traders as giving
an opportunity. Consequently the whole
market slumped off in the last half hour
and closed weak. There was no news of
importance and the trading was profess
sional. Closing prices were practically the
lowest.
Walker Bros-The market Saturday
was steady until after the bank state
ment and then traders sold it off. There
was heavy liquidation in Pennsylvania,
which had made an early gain, and the
rest Of the market joined in. The market
appeared to be very nervous and without
course of the market is hard to predict
but we look for continuation of this
sort of market with its ups and downs.
1t is not at all likely that we will have an
upward movement for some time to come
and on the other hand the short interest,
which is large. keeps prices fairly steady.
1t looks safe to buy on breaks and sell on
bulges.
OConnor & Van Bergens stock letter
says:
The opening was heavy and during the
first few minutes of trading prices de-
clined fractionally on moderate selling.
bought by one of the leading professionals,
and this caused the balance of the mar
ket to rally. The volume of business
= dwndled after the first hour of trading
= and the market became a waiting one.
The bank statement was very favorable
one, and traders took advantage of it to
sell stocks, and finding no support in the
market they ran prices off from about
q to IA per cent from the top of the
day. The closing was heavy with prices
at about the lowest of the day.