The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-04-01
MARKET STRONG IN
SPITE OF DULLNESS
Sound UnderCurrent Not Af-
fected by Reported Failures
and Coming Holiday.

Although the volume of business was
limited yesterday and at times the mar
ket was almost stagnant, there was
sound undercurrent apparent throughout
the session. Despite the announcement
of the failure of two trust companies,
one in Boston and one in Cleveland, there
was no considerable pressure to sell at
any time and whenever profit taking de-
VelOped stocks were well taken at compar-
atiYely small recesSiOns. The coming
holiday restricted trading and apparently
the ease with which prices were ad
Vanced did not induce new commitments
to any extent for this reason. The mar
ket closed firm.
What the Brokers Say.
NJ Doran & cos Chicago grain letter
Wheat-The market was rather un-
settled and on the whole dull in tone.
The morning advance was based on
strength in coarse grains, the small re-
ceipts everywhere. but more particularly
at winter wheat points, and strength in
outside markets. The holiday Friday,
and the suspension of business abroad I'M
til Monday, and forecast for rain through
out the winter wheat belt created a
strong desire on the part of longs to even
up. and the whole list was sold off near
the close. Cash business was only limited
at and transactions were of no conse-
Quence- Minneapolis millers are sending
out bearish information and now talk of
keeping mills closed until -four demand
improves. The output last week was. cut
in two and the Northwest Miller says:
Both the domestic and export demand
Is very duh" The winter wheat belt was
pretty well wet down excepting in ok
lahoma and large part of Kansas. Re
ports from this territory not particularly
optimistic. It is suggested that with
immediate rains Oklahoma will be IS
100000 bu short of last year and Kansas
Is, 600. 900 to 90 900, 600 short The Liver
pool market closed I'D higher. Budapest
was &c higher.
Com started off strong and higher with
good trade which gradually dwindled to
almost nothing the last hour. The sup
port of the Armour party was given
whenever needed. More reports regard
ing the poor quality of the crib corn were
circulated. Receipts everywhere were
rather light. Arrivals at all primary cen
tiers being short of a year ago and were
exceeded by the shipments This is due
IN part to wet weather and to the bad
condition Of roads Reports would indi-
nols. The local market was &c higher
but no Improvement in demand can be
noted Liverpool closed 4 d higher.
Oats-There was a desirable activity
for a time in the oat pit: Buying general
and commission houses, based presum-
ABLY on wet weather and the delayed
Seedl9g' The strength was not main
tanned and the entire list turned very
weak. The sample market was steady
Demand for shipment wretched: aboIt
59,000 OF standard quality made Wednes-
J. G. Geraghty & Co.'S correspondents
say of stocks: -
Logan. & Bryan-There was bank
failure in Cleveland and one in Boston.
There are two holidays ahead which IN
was naturally expected would make some
uquldatng sales. Neither, however. have
There was moderate activity and we
think a slowly growing outside interest.
me tone is strong and prices average
n tlE.s we see very little room for any
thlng put gradually increasing market.
DICK Bros.-The market was weak for
WnlIe during the morning, but received
good support and later advanced. A strong
feature was Peoples Gas. Steel preferred
ran up on buying based on the expecta-
tlon or the regular dividend. There was
no news. ST. Paul put out an unfavor-
able February report.
OCOnnOr & Van Bergen's correspond
ents say of stocks:
The general market situation. present
and prospective, is exactly the same We
have recently, from time to time re-
ported The good support and buving
Whlch mas carried prices to and kept them
a. a. pIeSent Ievel was again in evidence
through the session. The announcement
OF the fa11ure Of two small trust com
PdhleS mao temporary depressing in
Tuence, which soon wore off, however.
and sentiment resumed it's cheerful tone
A much greater confidence is everywhere
apparent, due greatly to belief that re-
cent developments indicate a much closer
aIIiaHce between Union Pacific and IFS
associate lines. rather than contest for
control as at first feared, and also because
this fact will tend to bring into closer
anu AiOA z IIItiIuIy F6IdIlOnSn1D other large
systems. Standard Oil people have for
years held controlling interest in st. Paul.
and there can be no doubt since recent
DECISIONS nave added largely to their
Ihlon racine holdings, and for reasons
that are very apparent
The general market has broadened. con-
slderably and is gradually attracting the
attention of the outsider. tired Of Inolyiney
on, and only awaiting the opportunitv'
Coming holidays has caused dull and ir-
regular market today, many traders hav-
Ing left the city until L. -,