The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-05-24
WHEAT BREAKS At
SESSIONS CLOSE
Saturdays ADVANCE Well Main.
tanned Until Last Hour
of Trade.

The following grain and stock letters
were wired yesterday to st. Paul brokers
by their New York and Chicago corre-
spondentS:
NJ. Doran & Co.'S Chicago grain letter
says:
Wheat : Wheat f1uctuated nervously
with lght-local trade. During the. fore
noon previous closing prices were pretty
well maintained but downward tendency
developed the last hour and half The
early news offered few influential trading
facts. Cable statistics Were bearish but
OF little influence in market controlled
entirely by the domestic situation. The
larger world S shipments than ANTICIPATED
and the wheat report showing a much
improved condition over last year had lit
lie weight Snow reports the condition OF
first Of month, with Mich SI ls t6e [ onIT
state of Importance showing deterioration
IL says the spring wheat promise is fully
1 up TO normal with apparently, a little
larger acreage than last year. There was
no cash business reported prior to the
close. The July promises to continue a
nervous market and the active trade is
likely to shift to old September
Corn-There was little change in corn
values at the end of the days trading
There was selling early by houses with
country connections, which was supposed
10 De against country purchases Local
receipts came up to the highest estimate
ana proved TO be more than the local
demand could take care Of and prices
Were 1c to 12c a buShel lower ColIntrv
adVloes continue bearish in regard to the
movement and our purchases Saturday
.Vhar,- me qs largest SO FAR On the decline
aShorls became good buyers.
N, OalS-OatS We're quiet, dull market
me May was rather weak, selling lie a
gu lower at one time. Cash business was
quiet Inc sample market was Zee to lie
lower Receipts were moderate with no
material increase expected in the conn
Try movement. Crop reports are good
-. = Geraghty q Co.'S correspondents
say of stocks:
-, Logan q Bryan-The market is firm.
Ihere IS little more doing, but it is a.
long way from an active market The
expressions. of feelings from Wall street
are rather more bullish. 1t is still how
ever. almost wholly traders market and
tle bulllShneSS seems based largely on
the expectation of being able to force
the shorts to cover. There is also less fax
OF gold exports and a hopefulness that
they have about ceased There Sc NO in
crease in public interest so far as we can
see. and this is what the market needs
more than anything else There are pooI
GSl'eLia diis IA AInalgamated. and B. r. T.
IS pelnS bought on the expectation of
large summer earnings. The steel issues
ACT better. although a large short interest
Is probably responsible for tbjs If i StiII
on the whole slow market
walker Bros. - The stock market to-
day was steady and quite strong nd
prices advanced. There was not a. great
deal of commission house business buf
shorts We're forced to cover and this put
' prices up. The tone of the market was
good all day Before the close there was
but the market continued steady until the
close. sentiment rather bullish and trad
ers talking higher prices.
OConnor & Van Bergens stock letter
The market has developed increasing
activity and strength. particularly in spe-
claItleS. as leaders of the advance SIM
posed to be engineered by Standard Oil
people Although a bull campaign start
ed Dy these interests just at this time
does not seem to us at all fikely however,
our TIP comes pretty strong and Straight
ana SO Tar apparently holds good at least
as far as results are concerned There
are several favorable factors Influencing
the situation, perhaps the most jmporfanf
belng the idea that the weather prevail
ing IN all parts of the crop growing sr.es
which, should it continue would do nnch
70 restore confidence which has recent
~ been very Weak-kneed as to imrnediafe
future. The probable early cessation of
further gold exports on this movement
as indicated by the gradual casing on Of
sterling exchange is another feature en-
couraging speculative sentiment also. The
financial world having successfully com.
pleted its recent large loan NEGOTIATIONS
Is now ready 10 take hold and carry further
matters. There is little likelihood of any
enthusiastic bull campaign at this time.
but there is equally no reason for a seri-
Gus decline. In fact the chances are more
favorable to the latter, in view of the
BenerallN more cheerful feeling that has
existed Tor several months.