The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-10-17
WHEAT is HIGHER,
OTHER GRAINS LOWER
New York Stocks and Securities
Become Strong nExten.
Sive Short Covering.

Wheat was a strong market yester-
day. From the opening, prices advanced
steadily, in spite of weak cables. The
cash situation is a ruling factor There
is heavy demand for the grain while re-
ceipts continue light. The interior nillers
are paying from to cents a bushel
more for grain than the Minneapolis mil
lers.
Corn was the weak market. The cables
were lower and prices went downward
from the start. The cash situatio was
quiet and offerings were fair. Oats, too.
Were lower During the morning the
selling pressure was great and there were
evidences of liquidation. In the after
noon prices strengthened little.
stocks put up q bold front yesterday
The short interests sought to cover but
found a hard time securing stocks In
dustrialS also took a brace The tone of
the market was much improved and it
now looks as If liquidation has run its
course.
What the Brokers Say.
M. Doran & Co.'S Chicago grain letter
Wheat-Wheat was higher. very merry
Gus and at times excited. The opening
was strong, Notwithstanding Indifferent
capIes. Ihe interest conferred in cash
premiums and the December during the
morning. In the afternoon, the Nav he
came very active. The trade is iust he
ginning TO appreciate the tightness in the
cash situation. Minneapolis and Dulnth
caSh premiums We're increased Receinfs
In the Northwest continue moderat e and
one reason ascribed for their Iightness is
Interior millers are paying &c to &c more
than Minneapolis. Shipping sales CON
tlnue on scale to menace our contract
STOCK. The premiums over the December
ana the demand are well maintained.
RLnGoiihal reports Japan buying wheat in
1ndla AS long as the present cash situa-
ton Is maintained we shall have strong
market. 81 '--7
Corn-Corn was the sick man of the
LOOT. mere was liquidation of both De-
cember and May on raIr scale. and the
tone throughout was weak Cables were
on; IN anticipation or increase in arri-
, naIs ana planting in Argentina is more
Sehetai. Inc local sample market was
relatively strong. There is some corn
beng sold daily for shipment.
Oats-OatS were very weak during the
morning session, one local operator throw
ing overheard good line of MAY. There
were some indications of an Increase in
fi 1cen24iS; which is said to be the selling
incentive. Late in the session the tone
was trmer. The sample market was off
and shipping inquiry light.
j. Z; Geraghty & Co.'S correspondents
say of stocks:
peen looking for seems to have arrived
for some days past the action of the
market has indicated that liquidation han
Ue%seo lang 9n9 , that the pressure, such as IT
short stocks; Shorts are covering TODAY
ana ana are not finding it easy. Our adj
vices are that the general short interest
particularly in industrials, is Something
enormous. The tendency of the mone1
market is easier. We take pleasure in,
reminding. you that our contention
through al the past weeks of depression
was that there was nothing in sight tn
make a tight money market in New
, \ ork tins fall and that fears of it were
baseless. There is also a distinctly bet
ter demand for bonds, which is always
a good indication. We still feel that
the approaching Christmas will he -
happier one in Wall street than the last
was; and We advise buying good stocks
Dick Bros: The market has been
very strong. advancing violently in the
afternoon on urgent covering of shorts
AT AT one time it looked like a bear panic
Ihere was no important news and the
real source of the advance was 40
gresslve manipulation by Field, Oliver
ana other prominent traders. Stocks
Were IN small supply on the advance and
S som OF the advances We're sensational
ne market closed at about the best