The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-07-15
CROP REPORTS FELT
IN STOCK MARKET
News of Damage to Wheat
Dampens Enthusiasm of
Bulls in Wall Street

Reports OF crop damage continue TO
influence wheat and are being felt in the
stock market Estimates place the loss
10 wheat since July 1 az from 20 600. 900 TO
So 100000 bushels, and prices were sent
higher by reports or further damage in
The Southwest. scattered rains in Kansas
and general heavy precipitation in the
Northwest BuliiSh enthusiasm in the
stock market was somewhat dampened by
the reiterated reports OF crop damage in
Kansas but realizing sales found a fairly
good demand on small declines. Analga-
mated Copper took the position OF leader
Tor a while
What the Brokers Say
N. Doran & Co.'S Chicago grain letter
SAYS:
Wheat opened with a big general de-
further damage reports from the South
west. scattered rains in Kansas and gen
eial heavy precipitation IN the Northwest
The Price Current estimates loss since
July 1 al from %. 600, 600 TO 80. GOO. 600
bushels. The Kansas City Star places
Kansas crop at %. 600. geo bushels and the
Kansas City AiillerS association at So
100000. The secretary Of agriculture for
Kansas was out with very sensa tionaI
statement. The class OF news however.
Is pretty much Of repetition. and it was
soon evident II was losing its effective
ness Long wheat came in market from
the Southwest and from local profession
ais The prediction Of clear weather west
or the Missouri river and clearing in most
OF spring wheat states was followed BY
short selling ana further liquidation
which eventually closed deferred futures
lower fOr day. The July maintained good
advances The situation covering them
j. entirely different from that affecting
far-OfI deliveries. the delay already coca
stoned IN new crop movement leaving the
short III pTecaTIouS position. AdViceS
We're BY no means ali builiSh 0kiahOmt
. reports new wheat moving quite freely
and thTeShins resumed and making rapid
progress. Six Nebraska correspondents
their territory.
than last year. Tennessee reports are IA
vorable. Manitoba advices tell OF bene-
fetal rains BrOOmhall cables Argentine
wheat Is starting We'll Liverpool closed
sc TO . C up. Antwerp Sc up. Budapest
1c lower.
Coru-The Improvement in cash inquiry
noted Wednesday has disappeared. Open
ing bulge N futures proved deceptive. the
market soon turning weak on general SELL
ing The experience in sample market was
much the same. first prices being best
and later ones showing &c loss from
"Wednesday. The Price Current reports
the condition OF crop maintained and pri-
Vate advices were entirely favorable Liy-
erDoOi closed &c TO &c higher.
OaTS-The experience in both future and
cash markets was a replica OF that N
corn. Early prices We're strong. but not
maintained. The sample market started
= To lc q bushel higher. closing &c lower.
Crop advices are satisfactory. me Price
Current says condition is unchanged.
O'COnnor * Van BergenS correspond
ents say ~ stocks
The change from extreme dullness TO
great activity has come SO quickly that
comparatively few have been able to
take advantage OF il ana are now hes
iUating for fear they may possibly be
landed again at top prices The action
OF the market IN face of extensive profit
taking and rather disquieting advices on
the damage 10 crops Is being most favor
ably commented on. as plainly demon
StraJing the Importance of the buying
power which has recently again put in an
appearance. II i realized that while the
damage TO wheat has been large. the out
look for general harvest is much above
The average. which at present level of
stock prices is undoubtedly a bullish fac
Tor as far as stocks are concerned.
AnalgamaIed Copper took the position
as d leader for q while. and. under cover
OF It's strength, realizing in other stocks
was carried on without influencing the
general list 10 any extent There has
been liquidation and there will be more
This Is expected and will no doubt be
welcome
J. c. Geraghty & Co.'S correspondents
say Of stocks:
Logan * BFyan-There is a great change
In prices The market is a little irregular
List of rails generally little easier This
taken in connection with the fact that
there was quite an active trade proba bly,
indicates more or less scattered prefit-
taking at this range OF prices This Is
both natural and healthy and indicates
q no change in general conditions or tend
ehey- No market can go up all the time
After 50 much Improvement the Surpris-
ing thing IS that reactions are So few
and so slight.
Walker Bros-The market sold on
toward the latter part of the day on ac-
court OF crop scare Strength IN Mex
lean Central issues due probably TO prog
Fess IN the road, : financial plan Amalga-
mated was the fea ture and closed strong
Smelters preferred was again somewhat
was a good deal OF realizing and some
short selling on the crop news