The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-04-05
UNION PACIFIC IS
MARKETS LEADER
Heavy Buying Causes a Sharp
AdVanCe--.Wheat Is Weak
and Lower.

= NdIGEU
by heavy buying, was the sensation of
the stock market yesterday. This stock
mOnOpOliZed the bulk of the trading
and checked an opening decline in the
general list. Great Western was also
very active on buying. Notwith-
standing a large amount of adverse
news, the market held well. showing
Weakness only in spots.
Wheat opened weak and grew heayi-
er until the close. which was at low
point for the day. On the decline the
longs let go their holding, aiding the
slump. The crop conditions are fair
~ good but are below the average for
last year. The cash market weakened.
Armour is still in control of corn.
AT the opening he supported the mar
Ket' Trade was not heavy. The bright
weather throughout the corn belt
turned the general crowd hearish. Oats
were extremely weak. The price de-
cHned more than cents during the
days trading, But little selling pres
sure was needed to turn the market
bearish.
What the Brokers Say.
NJ. Doran & Co.'s Chicago grain let
ter says:
Wheat-Wheat started weak. the tone
gradually growing heavier. The close
was approximately at the low point of
49, 10y AAcNIC was limited and long
stun came out as the market Welded
Inc news was rather bearish and the
Items or a bull nature were quickly
passed over and forgotten. Clear. cool
weather was general over all the winter
wheat belt, and the forecast is for
rather general showers west of the
Mississippi. The crop advices were
700 conTnctlng to enable one to draw
any very definite conclusion. The Ohio
condition lost points the past month.
peIng given as 81. Cash business was
only limited at, and but a small LOT
changed hands at previous premiums.
st. Louis reported the South flooded
with hour, bought in speculation.
Cofh-The bull interest supported
llIe market at the opening and after
noon. Trade was not heavy. and most
~ local The bright weather turned
the crowd bearish, as did also the
weakness in the cash market which
ranged from 1c to &c a busheI lower
ne Dull interest chartered vessel room
Tor one quarter of a million bushels
- corn Tor shipment to Buffalo on
t2aturuay, and 1t was understood con-
tract corn Will be loaded out. There is
no demand, however, for export or from
me East The Armour party is in an
solute control, and no other Influence
IS Of equal Importance.
OdtS-Ihe Oat market was very
weak, the May losing over &c a bushel
~ course OF days trading. The sensi-
cIFehess OF the market was noticeable
In small amount of selling required n
start the price downward. There was
apparently no attempt made whatavar
TO support values. Advices regardino
Seehlng were mostly of a faVorab1e
character. The ground, after long
severe winter, is in particularly good
condition. The general impression
seems to favor an increase in sc T,s,7. yo
L ne cash market is weak and demand
continues poor.
OConnor & Van Bergen's stock let
ter says: IL
Interest in the market has been con-
nned to comparatively few stocks with
OhIon racine mOnopOlizing the bulk of
the trading. Opening was irreo111aT
and generally lower, the market ha-
came very heavy and declines were the
rule until the end Of the first bo,1r
when violent advance in Union Pa
cltic on a very heavy volume of tradino
checked the declines and rallied The
8enefal list Speculation, however
continues IeVerlSh, and the announce
ment OF a stock exchange failure the
decision against the Peoples Gas. com
ment OF suit against Northern Securi
ties ana the first engagement Of gold
Tor export were all factors wOrLIinq
against higher prices, and resulted iT
carry AFTERNOON IN bringing about a re-
actfonary tendency, less on pressure al
stocks for sale than a lack of demand
Renewed apprehension regarding the
motives back of the movement in TTnior
Pacific was without doubt a check r.
general speculation, and on the do.
clines the market became duh Moi
WithStanding the adverse Influences
noted, the market did not deyeIon reo
weakness except in spots, notably Sup.
ar and Gas, and in the last hour or
small trading the tone hardened anC
closed fairly strong, with net changes
generally below Saturdays last prices
with Union Pacific a conspicuous ev.
ception at an advance of over nel
cent.
]. c. Geraghty & Co.'s correspond.
ents say of stocks:
Logan & Bryan-The market is nm.
certain and somewhat interesting. Tn,
features Of the day were the filing q
the Hartman suit against the North
ern Securities company and the de
cision of the supreme court in the PEG
pies Gas case. There is very sudde1
activity in Great Western, the cause n
which is only conjecture While w,
think stocks are worth the money am
the general commercial and bankfn,
situation a healthy one, complication
may, however, unsettIe the feeling +,
some extent
Dick Bros-The market has beer
rather erratic. The Northern Securf
ties developments seemed to puzzle tn,
street and restrict trading so that tn,