The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-04-13
REPORT HAS LITTLE
Effect ON PRICES
BulIish Estimate by the Gov.
eminent Fails to Stop
Liquidation.

The following letter relative to the
gram ana stock markets We're received
yesterday by st. Paul commission houses:
NJ. Doran Co.'S Chicago grain letter
says:
Wheat-The course Of wheat prices was
duplication Of the experience quite
common with the day following a bullish
government report. The market opened
hlSher put spectators did not seem to en-
thuse on the bull side, and those already
long let go their holdings. AS the coarse
grain market became weak LIQUIDATION
became more general and values gradu-
ally declined until the close. The cash
news was weak, while sentimental inf11-
ences were of both kinds Duluth re-
ported weak cash situation. The North
west IS getting much more favOra bile
weather and higher temperatures are
forecasted. The country is still pretty
wet and it will be some days before far
mers can get into the fields
Corn-AH indications pointed to heavy
liquidation of July by the bull party. On
the 12c opening advance commission
houses sold heavily and this was assumed
to be for Armour & Co. A 40 break
followed, after which the market ruled
nervous at fractional reaction. The
opening selling by Armour again started
the market down. There is no sign Of i'm
prOvement in the weak cash situation.
Receipts were liberal and included AZ
cars of contract The cash market was
OatsSThe holders of May began run
ming away from contract stock and the
market ruled very weak. Liquidation
was general and May at one time sold at
the July price Armour & Co sold July
on decline. The September was relatively
strong. Weather conditions throughout
the belt are better adapted to field oper-
J. c. Geraghty & Co.'S correspondent
says of stocks.
Dick Bros; The market has been ir
regular, dull and heavy. The opening
was strong but subsequently the list
sagged slowly and became quite weak
at the close when it became known that
the government is intervening in the
Northern Securities suit. The market
closed weak at about the close prices
p with Union Pacific the feature During
realizing on recently bought stocks.
There was also more or less short cover
ing.
Randolph: The market held generally
strong during the first two hours of trad
ing and, as heretofore, one or two stocks
We're taken hold Of and marked UP to
favor distribution elsewhere. There
throughout the list, and in afternoon,
the general market showed the effects of
profit taking and began to sag off. Just
Attorney General Knox had handed a
notice to the court in st. Paul objecting
to the proposed Intervention of the Harri
man interests in the Northern Securities
y case.
" O'Connor & Van Bergen's stock letter
says:
Inc uldIt6A ul0 lOL r6Il6cC the Tdtloc
better London prices in the initial deal
ings, which were generally lower with
the tone heavy, but it was Influenced by
late Wednesday afternoon. The selling
however, was purely professional with
little real liquidation. and on increased
activity the market became very strong
advancing easily. An exception to the
general trend of prices was again found
in Consolidated Gas. which was sold down
by. small holders on fears of adverse
prices of over 1 per cent in a number
of issues resulted, and in the early after
noon the market weakened with demand
light, but on a very much smaller vol
Ume Of trading with periods of absolute
dizziness. Shortly before the close an
Knox had objected to the Hartman inter
Yention in the Northern Securities case
resulted In a sharp break in Union Pa
cfflc, and the market closed active and
weak at near the lowest prices Of the
day.