The Saint Paul globe., 1904-06-06
OPERATORS IGNORE
BULLISH REPORTS
News of Wet Weather I'm the
Southwest Loses Its
Effect

Operators in wheat are beginning to
disregard the buIlish reports from the
Southwest caused by continued rainy
weather in that section. and wheat there
realized considerably on the high prices
OF Friday and overwhelmed the less ag-
greSsive buying. The STOCK market re-
NAMED dull and without feature and a
gooo bank statement was ignored.
What the Brokers Say
NJ Poran & Co.'S Chicago grain letter
Wheat-The- weather map showed a
continuation OF wet Southwestern eondi-
tlons' on which extreme prices were
ized ana overwhelmed the less aggres-
slVe buying The conservatism displayed
was partly due to quick advance this
week and in part to the fact that
Southwestern operators have not done
much buying in this market so far.
which created the idea that perhaps too
Faueh 1aueh Importance had been given news
from that quarter: Minneapolis cash
business reported dull. One northern
brought 1oc over July here for small lot.
ttle me Washburn people, after trip
conditions. With favorable weather the
market IS likely to rule lower next week.
Liverpool is lie higher.
Corn-The corn market suffered from
an avalanche Of general commission
house selling which was mostly profit
taang3 Country purchases on q some
Mnat larger scale and receipts continue
loeIaj; There is some doubt expressed
regarding the effect Of continuous rains.
No actual damage has probably been
zone. but the tendency is to cuTtail
conditions are predicted for the entire
belt. The cash market was weak and
do,, &c 20 sc a bushei lower Some further
decline next week is probable perticl1-
larly if the weather IS favorable. Liver
pool closed &c higher
Oats-The same general conditions af-
IectIng wheat and corn were responsible
Tor lower range OF oat values. July weS
weak relatively with September. reflect
ing 10 greater extent the slump in
corn: Receipts light and there is nothing
Crop reports continue on the whole ia
EorabIe- The sample market was steady
Lor good grades, but irregular and lower
Tor poor ones.
OConnor & Van Berger's corresnond-
ents say of stocks:
Nothing has occurred this week to alter
the character of the market except. per
maps, the change from enormous gold ex-
ports to comparatively insignificant
sum. the large supply of money here and
Us steady increase considered, and also
the fact that although we have sent
abroad nearly $50 000. 900 it has not caus-
ed the least ripple in rates for either cal
or time loans. This large accumulation
e, oL Iuilds, however, IS viewed with some
uneaslneSs as possible suggestion OF
iack Of confidence in the immediate fu-
ture OF the couUtrys business. The sue
CoSSIfe large ammunition in the loan ac-
count meets with general appreciation. II
the last half of 1904 does not show 3
marked Improvement, and it is expected
70 DO SO: the financial world win be
greatly disappointed. The economies be-
ing inaugurated by our railroads will soor
pe reflected in more favorable net re-
turns The political platforms and can
dIdateS once determined this element OF
uncertainty and disturbance viii be ont al
tne way. RumorS abroad in usually wei
informed quarters are persistent that the
end OF the far Eastern war is near.
j. c. Geraghty & Co.'S correspondents
say of stocks: u =
Dick Bros.-The market has been q
very nominal affair. Trading very Iighi
ana price changes as$smaH as POSSIBLE
The list showed firmness. but as a rule
changes were 1s or 4 point Bank
statement was moderately good. but moi
as favorable as expected.
Walker Bros.-The market was agair
very dull, although prices were steady
and some of the specialties higher. The
traders did little and there was no com.
mission house business It looks as il
this inactivity was going to continue fol
some time Money is easy and the mar
ket IS in such shape that ON any goo6
developments it would have a sharD ad.
vance. The close was featureless.