The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-09-19
What the Brokers Say
[. Doran & Co.'S grain letter:

M. Doran q Co. s gram letter:
Wheat-Liquidation started at OPEN
ing. continued all day and was still
going on when market closed This has
q resulted in &c break again. The SELL
ing has come on a 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 win 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
cars. Estimated for Monday, SO cars.
Liverpool wheat closed %d lower
Paris PA higher. Australian ship
ments, 100000. Estimated worlds
shipments Monday, 100000.
Contour reports received from
practically entire corn belt continue
to show that damage by frost has been
light. We presume others have re-
ceived same reports. The result of this
has been break in corn. Prices today
have declined 5sc to 1Ac, September
breaking the most. We don't advise
selling at the present prices. There has
been a 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. Esti
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
with shipping demand so poor and the
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
were 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 a strong tone to the gen.
eral market which, however, did not
hold the advance and began to decline
very easily on small transactions. The
bank statement showed large loss in
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.-MarlSet has been irreg-
ular and heavy, although there was no
great pressure of stocks. The un-
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. The
Steel stocks were reactionary with the
rest of the market
Logan & Bryan-The market was q
little easier. The bank statement was
no worse than expected and was not
Influential With the exception Of a
few specialties, the market has not
made much Improvement this week.
We are still Of the view there has been
enough good selling Of stocks and
enough scattered buying to put the
market in position where reactions are
quite possible. The general situation
is all right and healthy and will, we
think, bring about higher prices later
on. We would continue to buy stocks
on breaks.
o'Connor & Van Bergen's stock let
: ter:
The closing OF the London exchange
was reflected in our market by ma
terially decreased volume of business.
The tendency was somewhat reaction
airy, with United States Steel stocks
the feature as to strength and actiy-
ity. and declines elsewhere were eener-
ally within fractions, with little dis
position on the part of sellers to fol-
! low the -ecessions. The publication of
the bank statement. which was even
worse than expected. led to an increase
In activity at the expense Of prices, hui
the market closed rather above the
lowest, though with declines OF per
cent in several instances, with sentf-
ment uncertain.
Chicago Produce