The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-10-25
WHEAT UP FRACTION
ON NORTH SEA NEWS
Market Only Responds Slightly
TO Rumors of European
War

The following advices touching stocks
and grains were wired TO st. Paul brokers
by their correspondents in. New York and
What the Brokers Say
NJ. Doran & Co.'S grain letter:
Wheat-The initial bull impetus came
from abroad in the shape of higher ca
bles and lower consuls, which reflected
possibility of political complications:
Later these were supplemented by Wen
sustained cash demand, smaller North.
west receipts and scattered complaints OF
Hessian fly from the Southwest. North
west adyiceS relative to the per cent OF
the crop marketed were rather buillsn'
indicating as high as 70 to 10 per cent IN
many districts Minneapolis was strong:
and the leader throughout the day Local
sentiment was quite bu1ilSh ana the az
vance was. well sustained. In view OF the
more or less wide publicity given the idea
that the lower milling grades are selllng
at tremendous discounts under prices Tor
contract the following local values SHOW
these lower grades to be relatively as nlgn
as options: No hard brings Sill; No. 3
spring, $1.121@, and No. 3 red, $I.l6.' Inc
visible supply increased ], 236,O90 when
is about one-haf the increase OF the pre-
vious week. Liverpool was sd higher at
the close. Estimated receipts, 1D7 cars.
Corn was firm and somewhat higher on
rather a dull trade. The wheat strength
may have exercised some senqmental IN
fiuence, although there is rightly no re
lation between wheat, which is domestic
proposition and corn. which must depend
largely on export demand TO regulate
values. The conditions affecting the De-
cember are as bullish as ever. The coun-
try movement is small in volume and re-
ceipts will be light for thirty days. Ine
May situation is quite the reverse. crisp,
dry windy weather is rapidly putting the
crop in shape to move, While there IS no
export demand for future Shipment anu
practically no sales made to date; Inc
cash demand for the old is good. We
are bulliSh on December on breaks and
bearish on the May On the bulges. Liver
pool closed sd to I'd higher. Estimated
receipts 1871 cars.
oats were dull but firm, with but little
interest shown after the first half hour,
during which time locai elevator interests
and the Northwest were sellers.
Provisions was slow, but the
tone on the whole was firm: western
packers bought moderately Of lard ana
ribs, and local packing interest," aa Tsa
trade is all in deferred futures, with prac-
tically nothing doing in current month.
Estimated hogs tomorrow, 16,900,
J. c. Geraghty & Co.'s stock letters:
Logan & Bryan-We have another
strong and broad market. The firing upon
English vessels by the Russian feet &c
casioned little hesitation and some HI
tie scattered selling pressure at the open
ing In the main, however, everyone
seemed to take the rational view that II
was another unfortunate accident. Elec-
ton day is still more than two weeks on
It occasions no anxiety and 1t is queS-
tionable whether preceding that time we
will get any important llquldatlon OF
stocks We do not think that. business
improvement or the advance In STOCKS
have yet spent their force, and while re
actions are with the present large volume
of business possible, we think they Snouiu
be taken advantage of and stocks bought
Dick Bros.-The market showed some
hesitapcy at the opening because OF the
North sea incident but fears on that
score soon disappeared and the advance
was resumed. The market became very.
active and buoyant and in spite OF some
very heavy selling showed decldeo
strength There was no important news
during the day. The closing was very
strong.
demonstration of confidence in the stock
market which should set at rest all queS-
ton of it's stability and should result IN
the development of a more genera era D o1d
slightly lower prices characterized the
opening. but it was obvious that large
supporting orders had been placed in the
active. stocks and on the execution OF
these and of accumulated orders from
outside the market hardened and prices
rallied sharply during the first hour
Fries Ontario & Western, Union Paclhc
Southern Pacific, Rock Island and Penn
syIvania showed aggressive buying, and
under the leadership of these stocks the
market worked higher Profit taxing f;dl IN
from the high level. but the undertone
continued strong and sentiment remains
o'Conner & Van Bergen's New York
watson & co-Although the tone
of the market is considered very
tered more in a limited number of is
sues There has been good deal OF
manipulation, but buying has been IN such
large volume to make that SUFFICIENT
explanation for general strength and con-
fidence It is said the Hartman follow
ing has been buying their stocks, al
have bought more Union Pacific con-
vertible As than the common STOCK. MT
Keene seems to be lending assistance in
Southern Pacific. The market rally
oped- strong upward tendency, minor
issues being quite conspicuous. London
turned seller, but the sales have been well
taken. The market there closed with
general hardening tendency, with a fair
amount of public buying reported in the
afternoon, when it was officially learned
and full reparation would be made. We
hear the New Haven and Ontario &
Western combination will be able to help
Canadian Pacific. which will reciproeate,
The possibility of gold exports to Paris
has led to some selling by conservative
Van Emburgh & Atterbury- Foreign
market came shade lower on. incident
in North sea, and there was free SELL
ing from London. The effect was trif-
ing and demand was so large that Of
1erlnSS were QUICKLY apSOIUSu 0eHeIdi
opinion here was that incident was of a
character that would at once receive
prompt apology. Speculation was on a
very large scale, with Erie, Ontario and
Western, Rock Island and Union Pacific
leaders. Realizing sales We're heavy from
profit taking motives and tendency to
conservatism on the part of many, but
pool manipulation and public buying
more than offset, while some irregularity
was shown, the general tone held strong
to the close. The steel stocks were lag
CARDS. meeting stock on the little adj
vances and reflected sentiment that the
figures to be published tomorrow have
been discounted. The close was irregular
with strength in spots and the highest
prices.