The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-02-02
WHEAT OPENS WEAK
BUT CLOSE IS FIRM
Corn and Oats Are Also
Strong and Very
BulliSh.

Wheat was a little weak at the open
Ing yesterday on lower cables and the
lack of warlfke news from the far East.
When shorts tried to cover their early
sales they found little wheat for sale.
May was run up 11zc from the low point.
Minneapolis mfllers are bullish and are
sympathy with wheat. However. there was
a quick recovery, and the closing quota
lions were &c above Saturdays Oats
were the strong grain of the market. The
cash article was hc higher.
On better news from the East stocks
opened strong. The tone of the London
trading was much improved and aided
our markets materially. United States
Steel preferred was weak on account of
the withdrawal of Rockefeller from the
directorate. Atchison was the strongest
issue on the list
What the Brokers' Say.
NJ. Doran & Co.'S Chicago grain letter:
Wheat-Wheat yielded the first hour to
the selling by the local crowd on the
weakness in Liverpool cables the large
words shipments and lack of anything
Hwarlike in the Eastern situation. Shorts
found early. sales difficult to replace and
ran the price of May up 1Hc from the
low point. Millers are bullish and are
buying wheat freely. California advices
of San Jose, only one-haf inch rain hav-
ing fallen since April 16 The May was
congested and difficult to trade in, while
activity in July increased.
COrn-Corn started easier with wheat
and with the crowd playing for break
The depression, however, was of short
duration. When the turn came there was
little for sale and the price was quickly
advanced Y c over the previous close. The
news relative to the future supply was
convtncingly bullish. The movement in
Nebraska Is falling off, and the demand
from feeders in Iowa is good. Cash corn
was unchanged and cable bids advanced
we cannot see any reason to expect lower
value with these facts in view and strong
lY advise purchase on any receSSiOnS
Oats-Oats were tight as a drumhead,
barring the easiness at opening. There
were few for sale and they were badly
wanted. Cash oats is 1ac higher and re-
ceipts are only moderate There is not a
weak feature in the situation.
O'COnnOr & Van Bergens stock letter
says:
The market opened steady in response
TO the better tone of the London market
but changes In prices were unimpOrtant
and there was no outside interest to speak
of. United States Steel preferred was sold
on the announcement that j. d. ROckefel-
Ter had resigned from the directorate of
the company, and Brooklyn was weak
selling down to 45Ac on rumors of q con-
templated bond issue. Atchison was the
strongest feature among the railroad
stocks, and the buying that has been so
pronounced during the past few DAYS was
lightly here, but bought about 5000
shares on balance. Amalgamated Conner
advanced sharply in the afternoon on a
report that the company had won vic
tory over the HeinZe people in the Boston
& Montana suit. There was a little short
covering In the late trading on which
prices generally advanced fractio1alIy
The closing was quiet but steady and
outside of Copper or one or two other
stocks price changes are unimportant