The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-09-18
What the Brokers Say

What the Brokers Say
NJ Doran & Co.'S grain letter:
Wheat-Liquidation started at open
ing, continued all day and was still
going on when market closed. This has
resulted in &c break again. The SELL
ing has come on q market where short
interest was small There was nothing
in trading to show that this liquida-
ton has stopped. Receipts in the
Northwest are sure to be larger. In
face of reports we have had from the
Northwest the grading of wheat in
Minneapolis is surprisingly good. The
decline that has started will carry our
market to a price where wheat will be
an excellent purchase. We doubt if
that point is reached yet. Cash de-
mand is poorer instead of better as
market declines. Receipts today, 70
cars9J Estimated for Monday, SO cars.
Liverpool wheat closed sd lower,
Paris 2Ac higher. Australian ship
ments, 100000. Estimated world S
shipments Monday, 10,000,0O0.s4a 81 81,
Concur reports received from
to show that damage by frost has been
light. We presume others have re-
ceived same reports. The result of this
has heenga break in corn. Prices today
have declined &c to NC September
breaking the most. We don't advise
selling at the present prices. There has
been better cash demand, although it
is not on any great scale. We saw no
signs of important selling today. Ac-
ceptances in country were light. Estt-
mated cars Monday, 535. Liverpool
closed Id lower.
Oats have been steady. There were
evidences of some pretty good buying
in the market. Speculation is light
Just now. 1t is natural it should be
chi co
stock here as large as it is, but for all
that we don't advise selling them. Mar
ket was easy. Estimated cars Mon
day, 10.
Provisions-The weight of October
product on the market prevents any
advance. 1t looked as though packers
We're chief buyers of October ribs, and
they may be willing to take offerings
as they come from scattered holders
at about these prices. Packers all say
cash demand is very good. Estimated
hogs Monday, $4,000.
J. c.. Geraghty & Co.'s New York
stock advices:
Walker Bros-Reading and the
Steel stocks were the features at the
opening and the strength in these is
sues impaired strong tone to the gen.
eral market, which, however, did not
hold the advance and began to decline
very easily on small transactions. The
reserve and had some effect on senti-
ment, and after sudden rally shortly
after it's appearance the market de-
clined rapidly, but closed fairly steady
with some good buying in Steel pre-
ferred.
Dick Bros.-Market has been irreg-
ular and heavy, although there was nc
great pressure of stocks. The I'M
favorable bank statement was the rul-
ing influence 1t showed another large
increase in loans. Western railroad
shares were particularly heavy. The
market was weak after the bank state
ment was published, but rally in the
last ten minutes cut down the losses
There was no important news. Thu
Steel stocks were reactionary with the
rest of the market.
Logan & Bryan-The market was
little easier. The bank statement wa.
no worse than expected and was no
influential With the exception of {
few specialties, the market has no
made much improvement this week
We are still of the view there has beer
enough good selling of stocks ani
enough scattered buying to put the
market in position where reactions ar,
quite possible. The general situation
is all right and healthy and will, w,
think, bring about higher prices latel
on. We would continue to buy stock:
on breaks.
'O'Connor & Van Bergens stock let.
ter:
The closing of the London exchange
was reflected in our market by a ma
terially decreased volume of business
The tendency was somewhat reaction
airy, with United States Steel stocks
the feature as to strength and activ
ity. and declines elsewhere were gener
ally within fractions, with little dis
position on the part of sellers to fol
low the -ecessions. The publication O
the bank statement, which was ever
worse than expected, led to an increas
in activity at the expense of prices, blu
tile market closed rather above thu
lowest, though with declines of l pc
cent in several instances, with senti