The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-07-23
What the Brokers Say


day and closed inactive but with a firm
undertone.
What the Brokers Say
NJ. Doran & Co.'S Chicago grain letter
Wheat-Without support of further ad-
verse crop or political advices, Thursday
advance was not maintained. Holders
seemed quite willing to realize as the
opportunity offered. taking the cue from
the crop estimates, the increased move
ment of new wheat to this market, bet
Ter weather and reported larger yields in
The Southwest than were anticipated
European markets varied from firm to
some higher. Consols were a shade up
at the close. Snow says long delayed
winter wheat harvest is completed.
Threshing is general and scattered ad-
vices from wheat districts of the Missou-
ri valley indicate better yields than ex-
pected. The Modern Miller suggests
losses to winter wheat were less than
originally estimated. but state that yields
IN the ONO valley prove to be disappoint-
ing. snow thinks a crop of 500, 600 900
10 625 100000 bushels can be reasonably
expected. while the advance sheet Of
the Price Current suggests 625. 00O 600
bushels: This with q, 900, 900 bushels
available from present supplies place ex-
portable surplus at $50, 000.0 bushels
1 me e. commercial West says spring wheat
IS TWO weeks to month late. Harvest
ing Is expected to be general by August
10 south of North Dakota and in that
stats IT will extend into September Ac-
corning to Snow, the effect of too much
ram in the Red River valley is OFFSET
by beneficial precipitation to the west of
Ia II, o ne; correspondent says wheat is
oauIy bIighted in the North Platte coun-
Try. The market acted rather firm on
the decline. Liverpool was nc lower to
y cars. W
Corn-The general tendency of the mar
ket was toward a lower level The SEN
TEMPER option continues cratic July was
IN demand at the opening and jumped TO
a premium over September, but worked
BACK 10 a discount before the close Snow
says thar high temperatures have rapidly
developed corn and the position of the
crop Is now satisfactory, barring a little
Iateness generally and weedy fields in
Inc Wet districts of the Missouri valley.
receipts are showing a tendency to IN
crease. winch Is something of a surprise
at this time. The cash market is steady
ana demand continues slow. Liverpool
tomorrow 344 cars 0ip'S
oats lost ground all day. Crop advices
suggest That another week or ten days
ca sood weather will make a large crop a
certainty. Half the crop is harvested in
Neoraska and the quality is said to be
I Ine 0est IN four or five years. Free
state after August 10. In Iowa cutting
Mil Viii be general by the first of next week
mere was one ear of new oats in today
which graded No. 4. The cash nsrirat
was steady with a rather better inG1Iirv
for arrivals. Estimated cars, 95.
ProNlsions-There is practically no in
T T5eSt s, sRow3 it, IN the provision market
10 nave peen adjusted this morning.
seems seems 70 nave broken out anew EST
ina 1'Sor hogs tomorrow; 1.5OO-
stock letter follows: ~
.t Watson & Co.-strength of steel
stocks f,o" r. 81 has really been the sustain
Itatlng TO further attempt to depress
prices in the face of excellent buvine Of
1neSe shares The market has been in
more TO temporary lack of interest than
Tor any other reason. Foreign advicas
indicate iHI a peaceful outcome of the Eng
diI5d russian affair, which did much to
existed: There seemed to be coneidero
able disappointment that Amalgamafed
copper did not increase it's dividend or
give reasons for not doing so. u
-. Geraghty & Co.'S correspondents
say of stocks: -
Logan * Bryan-Everybody is talking
conSerVatlvely and looking for a reaction
In the market except the man who owns
the stocks: Market continues to hold its
there is no weakness anywhere and there
IS strength In spots. Little less uneas-
mess over the European situation. There
IStIPas; 10 De something doing in Colorado
Fuel: tennessee Coal and Iron and Re-
public Iron and Steel. The Condolences
may mean something. The Steel Issues
4 hle as als s,o, wen bought We see no reason
70 change our position ON the market.
Our advices are to buy stocks on the re-
action action if We get any. and if We do not
buy them anyhow.
Paine Weber & Co.-The react;o,
which started yesterday did not bring
IN, the expected volume of selling orders
ana prices recovered sharply this morn
ing London was considerable b,,ver
of American stocks. Apparently FOO
much preparation was made for a reac
ton and there is probably a considerahje
new short interest around this level q
lot of traders are again working for a re-
action and if they get prices off a little
further We think stocks should be bought
ton and Montana company and the fling
of a heavy suit against Heinze within q
week makes great many people think
that=Amaigamated will soon be mora q n
tive. The Coppers as a whole are actin,
splendidly az ing