The Saint Paul globe., 1904-06-05
OPERATORS IGNORE
BU[LISH REPORTS
News of Wet Weather In the
Southwest Loses Its
Effect

Operators in wheat are beginning to
disregard the bullish reports from the
Southwest caused by continued rainy
weather in that section, and wheat there
rore lost some OF its advance Holders
realized considerably on the high prices
gressive buying. The stock market re-
mained dun and without feature and a
good bank statement was ignored.
What the Brokers say
M, Doran & Co.'S Chicago grain letter
Wheat-The weather map showed a
continuation OF wet Southwestern condi-
tlons' on which extreme prices were
made Friday, but holders in general real
lied and overwhelmed the less aggres-
SlYe buying. The conservatism displayed
was, partly due to quick advance this
week 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
much Importance had been given news
business reported dull One northern
brought 10c over July here for small lot
Inc WaShburn people. after a trip
through the Northwest. reported superb
cOndltlonS. With favorable weather the
market is likely to rule lower next week.
Liverpool is Ac higher.
Corn-The corn market suffered from
house selling which was was = mostly profit
taking: Country purchases on a some
What larger scale and receipts continue
liberal. There is some doubt expressed
regarding the effect of continuous rains.
NO actual damage has probably been
cone, but the tendency is to curtail
country movement. Unsettled showery
conditions on are predicted for the entire
belt. The cash market was weak and
Ic 10 SC a bushel lower. Some further
decIlne next week is probable. particu
@ @larly II the weather is favorable. Liver
j. hi
Oats-The same general conditions af-
fecting wheat and corn were responsible
Tor lower range of oat values. July ives
weak relatively with September. reflect
ing TO greater extent the slump in
corn; Receipts light and there is nothing
Deaf1Sh regarding the cash situation
Crop reports continue on the whole ia
yOrable. The sample market was steady
for good grades. but irregular and lower
for poor ones.
O'Connor & Van Bergen's correspond
entS say of stocks:
:, Nothing has occurred this week to alter
the, character of the market, except, per-
haps. the change from enormous gold ex-
ports to comparatively insignificant
sum. the large supply of money here and
Its steady increase considered and also
the fact that although we have sent
abroad nearly $50, 600, 900 1t has not caus-
ed the least ripple in rates for either call
or time loans. This large accumulation
OF funds, however, is viewed with some
uneaslness as possible suggestion of
lack OF commence In the immediate flu
ture of the eountry's business. The sue
cessive large diminution in the loan ac-
count meets with general appreciation II
the last half Of 1904 does not show
marked improvement, and 1t is expected
to do so. the financial world viii be
greatly disappointed. The economies be-
ing fnaugurated by our railroads will soon
be reflected in more favorable net re-
turns. The political platforms and can
didates once determined, this element of
uncertainty and disturbance will be out Of
the way. Rumors abroad in usually well
informed quarters are persistent that the
end OF the far Eastern war is near
D. Z. Geraghty & Co.'S correspondents
say of stocks:
Dick Bros.-The market has been a
very nominal affair. Trading very light
and price changes as small as possible
The list showed firmness, but as a rule
changes were 1s or Il point. Bank
statement was moderately good, but not
as favorable as expected.
Walker Bros.-The market was again
very dull, although prices were steady
and some of the speciaTties higher The
traders did little and there was no com
mission house business. 1t looks as if
this inactivity was going to continue for
some. time. Money Is easy and the mar
ket is in such shape that on any good
developments 1t would have a sharp ad-
vance. The close was featureless.