The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-03-14
SHORT INTEREST
CHECKS BREAKS
FIuctuation Follows Weakness
in Metropolitan Traction
and Other Stocks.

Breaks in Metropolitan Traction, Penn
sylvania and Peoples Gas caused a gen
eral weakness, but the short interest
came to the markets assistance and
covering brought about rally before
the close. The bank statement has no
influence, as its figures were 1ndlfferent-
Authorization of the Northern Securities
on Monday still dominated the situation,
and trade seemed to be almost entirely
professional. Fluctuations We're MADE as
the beariSh element had courage to de-
press or rally as their caution led them
to cover.
What-the Brokers Say.
NJ. Doran & Co.'S Chicago grain letter
says
Wheat-The wheat market was very
strong, excepting for a slump during the
morning on forecast for rain or snow over
the Southwest wheat area. Legitimate
conditions were the governing factors III
the advance Flour sales at M MIn ane 1l
late Friday and today were 100000 bbls,
and millerS were buyers of the May OPP
ton at Duluth, which was taken as con-
firmatory evidence. Fridays sales of No.
/ northern here were larger than first re-
ported. Liverpool market was dull, but
a strong Odessa cable helped the futures
here. 1t is bullish on present situation
because of scarcity and small shipments
and reports of unfaYorable prospects for
new crop. There were reports from Kan
SaS and Oklahoma claiming one-thlrd of
the crop is damaged and the balance De
pending on rain in the near future. TFe
revival of flour and wheat demand Is an
encouraging feature indicating present
prices are on legitimate level.
COrn-The corn market was strong, eS-
pecially May, which advanced l12c from
low point OF morning, with scafcay re-
action. The strength was the result Of
influential buying to which the pit trade
toiled on. There was q scarcity OF news,
but such as there was gave no basis for
optimism. Liverpool closed sd to I'd
lower.
Oats-The market was dull but firm. re-
flecting surrounding strength. The cash
market was 7ac higher, but improved de-
mand noted Friday was not in evidence.
There seemed to be oats for sale on
bulges. which took the edge off the mar
]. c. Geraghty & Co.'S correspondents
Dick Bros.-Heavy selling which look
ed like liquidation caused sharp declines
in a few stocks and the general market
was weak in sympathy The stocks which
broke most We're Metropolitan Street
Railway, Pennsylvania and Peoples Gas.
On the decline however, the short inter
est came to the markets assistance and
covering brought about a general rally
before the close. There was no news OF
Importance
Paine, Weber & Co-Bank statement
figures We're unusually small and the
showing was On the whole favorable, more
so at least than had been expected. Price
movements were Irregular, the only fea-
ture being the break in Metropolitan.
Copper is 1sc higher. In spite of this
Amalgamated was heavy and Copper con-
tinued extremely dull
O'COnnor & Van Bergen'S correspond
ents say of stocks:
The opening was quiet and fairly steady
but after the first few minutes of deal
ing the selling movement in Metropolitan
traction issues was resumed. 1t looks as if
this was some of the late w. C. Whit
ney's holdings. The weakness in the trac-
tons acted unfavorably on the general
list, which declined about A@B per cent
There was some genuine liquidation, as
well as short selling On the downward
movement. The closing was heavy and
decision, which is expected Monday, and
prices generally are a little below those
of Friday night.