The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-07-28

wheat trading Of the country was con-
Cerned yesterday. The news was uni
formly favorable to holders and the price
advanced appreciably
General liquidation and heaviness
marked the trading in stocks and the New
York list was generally lower.
What the Brokers Say
NJ. Doran & Co.'S grain liter says:
heat-Wheat was exceptionally strong
and easily advanced as every factor in the
bull view of the situation contributed as
9IStanoe to greater or less degree.
market adY1ceS and further decline in
consols started the activity. The North
west sent scattered rust reports and a
winnipeg wire said the crop in Manitoba
was ten days late and temperatures were
too low. AdviceS Of disappointing thresh-
ing returns We're numerous. Missouri was
t Tue pLl1ctpai Gomplainant but reports also
covered southern Illinois and Michigan.
The wheat movement was not so large as
yesterday Duluth reported sales of No
r. northern at higher prices on the crop.
Inc local market compared with the cash
option was not so strong. Cash wheat
was IN good demand at Southwest points
NO. red sold at 921sc on track at ST.
LOUIS. The July options at all outside
points was strong. The trade here was
largely OF local character and the market
was rather nervous. With SO much in
the news suggesting the correctness of the
pun theories it was with little difficulty
the advance was maintained until The
close. With the strength abroad the nm
seltieu pontlcal outlook and uncertainties
IN the situation in this country the long
side Is the logical one on which to operate
I:lVerpool closed s4d to Id higher. Con-
1nental markets We're all up excepting
Pai1s, which lost nc to &c Estimated
receipts, "A cars
Corn-Com was strong with the de-
1erred futures in active demand The
tenor Of crop reports was not so uni
Iormly optimistic as has been common of
late. Snow says his preliminary advices
Tor MS August report show no improve
ment since the first of the month Some
doubt was expressed in regard to this re-
port as the period of warm weather was
supposed To have made good considerable
VI I.e,. na ..lS,. growth: Foreign markets
i iar cause assigned. Liverpool closed q
higheS. Berlin sc to &c higher. The
&ash market was steady to Nc higher.
we suggest purchases on breaks Es-
tlmated cars 242
Oats-There was no material change in
The market and little was offered in the
way or news to direct operations In
nuenceS We're largely sympathetic The
May showed the best relative strength
compared with other grains, and with the
pilGe OF cash oats the September looks
cars. 90
Provisions-The market continues in n
ffo so ait i condition, leaving nothing to
tlon does not improve. Estimated hogs
tomorrow. $4,000.
O'Connor & Van Bergen's stock letter
says:
NEW YORK July 27-Trading for
snort account was greatly stimulated this
afternoon by heavy selling for foreign
1iuencing may who had begun taking adj
vantage OF the slump to buy cheap
stocks. thinking reaction had gone far
enough, to dispose of their holdings and
join the downward procession. Iondon
statements that they considered the Red
sea incident closed did much to restore
foreign confidence later in the day Ar
bitrage houses sold probably q, 600 to
10000 shares this morning, the ONLY mr.
chaseS being in United States Steel pre-
5erfed- There seems to have been fairly
large pun account abroad in Americans
most OF which has been disposed of the
past few days. There is no use to at.
tempt to give reasons for the weakness
N any special stocks all having Jared
alike. with perhaps the greatest pressure
against the United States Steels. the
goods news. so,,caled regarding them
being of no avail
j. {. Geraghty & Co.'S correspondents
say of the stock market:
Paine. Webber & Co.-Speculative sem
timent has suddenly undergone change.
The number of bulls has been ereafiv
diminished and most of the traders are
talking bearfsh Commission houses liuui-
datea a little of stocks today and now
that the selling movement is on it is not
!4ilpIopaoIe mat prices will go off again
tomorrow The statement of the Steel
CORPORATION was taken by the street as
a l.
lion surplus for the quarter, however.
compared with a deficit of nearly two
I the quarter previous. This does
not look bad to US. Coppers were sold
ana sn, offered down at the lowest price.
There was marked scarcity of offerings.
After little further reaction we think
CoppeTs will do TO buy
w. b. Franklin & Cove continue
TO advise selling stocks. There is no in
Nestment buying and buyers for specula-
ton are loaded.
Logan & Bryan-Market is again domi-
mated by the European political situation
and is lower. The closing was. however.
at some reaction from the low point and
steady All other influences are subordi-
mated at the moment. The report of the
Steel corporation for the last: quarter
confirmed previous favorable rumors.
The market has been sold by bear traders
Very freely. and is. we think in shane
to react sharply on the disappearance of
fears of war. Our view is that the odds
are good many to one that no other
powers VIII be drawn into the contro-
Hersy at this time. We therefore think
that stocks are a purchase