The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-04-08
MOISTURE MAKES
STRONG MARKET.
Rain and Snow in Northwest
Causes a Bull Movement
In Wheat.

Northwest news, telling of snow in
North Dakota and In Minnesota created
considerable bull sentiment in the wheat
market yesterday. Seeding will be de-
layed by the excess moisture. Receipts
were light, and this helped the bull move
ment. The cash trade is slow and trans
actions slight. Corn is still completely
in the hands of Armour. Early he
bought more than one million bushels, but
during the session he let go of fully as
much as he purchased at the opening.
The corn market. so brokers say, is a
dangerous one. Oats are dull and heavy,
with general selling.
Stocks continue to improve. The char
acter of the market was much the same
yesterday as it has been for the past
few days. Foreigners were good buyers
of our securities. United States Steel
activity and interest are concerned.
What the Brokers Say.
NJ. Doran & Co.'S Chicago grain letter
Wheat-There was considerable bull
sentiment created by the Northwest adj
vices. The weather map showed heavy
SHOWS in North Dakota and Minnesota,
and rains in the southern part of the
wheat belt, which makes late seeding
probable. Minneapolis advices dwell on
exceptionally light farm reserves. and
this, with the limited supply at accumu
1ative centers, was bull help. South
western conditions are more favorable,
light rains being general last night. The
cash trade was slow and no transactions
were reported. The professional character
of the trade and the morning weakness in
corn held this market in check for a time
After noon it became stronger and there
was decided upward tendency by old
July.
Corn:-The Armour transactions over
Swallowed all else and rather bewildered
the trade. There was heavy buying Of
July early for that account, which aggre-
gated fully 100000 bu, but there was
heavy selling later which is thought to
have more than disposed Of the early
purchases. The market was. sensitive
and traders nervous, although they were
vance. Liverpool was higher on smaller
receipts The cash market was stronger,
ruling from 12c to 17ac higher.
the bull party and the market at this
moment is a dangerous one in which to
Oats-Oats were dull and heavy, with
the selling general. There seemed to be
little incentive in meager news to in
spire bull effort. The Price Current says
"a full acreage is expected" The de-
mand for cash is limited.
O'COnnor & Van Bergen's stock letter
says:
The character of the market was iden-
teal with those of the past few days.
Foreigners have been more important
factors than before, buying between &c.,
600 and $4,000 shares on bullish advices
this side, the same interests who have
carried the market so far, and they dis
tributed large buying orders throughout
the list. This with evident intention Of
encouraging the growing bullish senti-
ment. There has been large profit taking,
but conducted by experienced hands, so
as not to affect prices. United States
Steel stocks have been the feature on
, enormous transactions. Sentiment is
more favorably disposed toward these
securities on further consideration Of the
cOmpany'S statement with its eorrObOra-
ton of further improvement in the trade.
The $3,000,000 gold exports, with pros
week, had little effect it being under
+ stood these payments are really only the
transfer Of some $18 900 or $50, 600, 900
Japanese money received in this country
since the war commenced for the payment
Of goods bought in Europe.
j. c. Geraghty & Co.'S correspondents
say of stocks:
Logan & Bryan-Our market opened
strong, with an immense trade in Steel
preferred. Much of the activity comes
from the settlement Of the building strike
in New York Gossip says this means the
resumption Of work on $50 100000 build
ing and plans for many others. The I'M
dertone of the market continues very
firm, and, while outside trade is not very
brisk, still we note Improvement. The
action of the market would indicate that
on all declines the better class Of stocks
meet resting orders and we feel that good
stocks, such as wabash preferred Union
PACING. Southern Pacific Atchison, Mis-
souri, Pacific and in the industriaIs the
steel stocks can be bought on any dinS