The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-09-20
What the Brokers Say
u. Doran & Co.'S grain letter:

brought down the price of wheat.
What the Brokers Say
NJ. Doran & Co.'s grain letter:
Wheat-In wheat today it has again
been a case of too much liquidation for
the market to absorb the offerings with
out declining. On the early break in May
below Sill there was considerable local
buying for both long and short accounts.
For little while the market showed
strength but it was temporary. Since
then it has been weak and closes prac-
market needs pretty constant help to
carry prices up. The Northwest weather
was factor. In the far Northwest
storms and cold weather were reported
During time that our market was strong
Armour & Co. again seemed to be SELL
ers. Receipts in the Southwest continue
liberal, and as we have before written,
we are sure to have pretty large receipts
IN the Northwest. The. question is, will
the market stand these influences with
out declining further. Liverpool closed
l I'D to lid lower. Paris closed lie to 11sc
lower. Estimated receipts tomorrow, 10
cars.
Corn-The reports of all crop experts
that have been examining the crop are
now out indicating a maximum of 2 000 :
600, 600 bushels We believe these figures
on today'S condition too low. We believe
we would raise 1000, 900 bushels of
corn this year, even if we should have a
hard frost all over the country this week,
and we hope We won't have this frost. A
considerable part of the corn is late and
g needs continued favorable weather. Ever
since these crop experts were out there
has been heavy selling and the market
has declined. Liverpool closed unchanged
TO $50 lower. Estimated receipts tomor
row, Cos cars.
Oats-The market held steady until the
visible supply was posted. Those figures
showed an increase again of .3,347, 900,
making visible To- lS1, 600 bushels, against
S.9S70OO a year ago. With light specula
tive trade it is no wonder the market
weakens. The shipping demand is not
good Receipts in Minneapolis are large
and this market is having to carry hedg
ing sales for that market as well as this.
Estimated cars, 311.
~ PROFESSIONALISM the packers report a fine
cash demand, and it looks as though some.
prices were low enough. They have been
good buyers of October ribs for several
days and today their buying had an e.
feet on the market January produc- is
higher. Hogs are higher than the product
at present. Estimated receipts of hogs
for tomorrow, 1900 head.
J.. c. Geraghty & Co.'S New York stock
alvices:
Logan & Bryan-Narket is quiet and
easier. There is less force and volume
to the buying and scattered liquidation on
stop orders. There is no great. selling
pressure but the action of the market
at the moment is a little bit slow We
are still Of the view that the selling of
late has been better than the buying and
that a good many stocks have passed into
weak hands. This may bring about some
-
the underlying conditions or what they
promise for the future, and if there should
be scattered liquidation to cause any ma =
terial reaction we would buy stocks
e. Dick BroS.-Market has been irregular
and feverish all day. Considerable heavi-
ness was shown in the early trading and
declines were scored all through the list.
Later the supply of stocks became limited
and there was rally, but in the late
trading the general list was barely steady.
even though Amalgamated Copper and
some specialties We're very strong. There
was little news and sentiment was rather
confused Profit taking was seen in most
of the railroad stocks. The closing was
irregular.
Paine, Weber & Co.-Dullness is still
the rule in Boston market today. Massa-
chusetts showed strength for the first
time in a long while. Amalgamated was
well bought and held strong all day. New
York is predicting higher prices for it in
the near future. Any rise in Amaiga-
mated will cause activity and strength in
the coppers.
ter:
Saturdays closing weakness and the
very unfavorable bank statement was re-
fected in tone in our market by a lower
opening and some heaviness Trading
was on a moderate volume of business
and declines failed to bring out stocks in
any amount, though the demand was bare
ly sufficient to absorb the offerings even
at concessions. Some evidences of an i'm
proving tendency were checked in the
first hour by reports of low estimate on
corn to be published by one of the LEADING
experts, but stocks were sold principally
by the traders, with little real liquida-
ton. Comment on the market continues
very much mixed and commission bust
ness is curtailed by the uncertainty OF
the immediate outlook. Trade reports and
", railroad earnings for recent dates are gen
orally regarded satisfactory, but are not
of sufficient influence at the moment to
check the declining tendency. In the
afternoon hours market appeared to be
oversold and as no Improvement took
place under strength in Copper. and Incl
dentally a sharp break in the grain
markets, the greater part of the morn
~ing's declines were recovered Money
ruled somewhat firmer for both call and
time, though the former rates. are still
abnorma1ly low for this season The duII-
ness at the declines is looked upon favor
ably by the bull interests, as they argue
any increased activity must be toward a
higher level. Market closed dull AND
steady at fractional declines