The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-03-27
TRADING DROPS OFF
Buying Power Diminishes, but
Prices Do Not FaIl.

The market opened without feature, and
after the first ten minutes of trading the
buying power diminished, though prices
remained high on the average. Traders
We're on both sides and the volume Of
business was small, what little interest
there was being manifest only in Union
Pacific which was looked upon as the
key to the market. Traders bought it
cautiously on indications of demand at
about 80, and of very meager supply. Just
before the bank statement appeared the
market yielded a little, but closed steady
with slight rally. The wheat market
was nervous. Transactions in corn were
limited the market being controlled by
Armour & Co.
What the Brokers Say.
NJ Doran & Co.'S Chicago grain letter
The wheat market was nervous and
trade almost wholly of a professional
character 1t started very strong on nigh
er Minneapolis curb, and on the lower
temperatures throughout the Southwest,
but eased off on proft-taking. which was
quite general on Nbulges. The weather
forecast is for warmer conditions The
developments in the cash situation were
all bullish. MillerS have forSaken the Dear
side and. are buying wheat 100000 bush
els of Ne. l northern were sold here at
Nav price. Minneapolis mills will resume
Monday. The canceling of n, 900 bushels
of contract wheat here was significant. 1t
recalls our small stocks and the improb-
ability of replacing shipments, as our
in the session a vague rumor was sent
around of impending Balkan trouble, but
it was given little credit Liverpool closed
practically unchanged: Worlds ship
ments estimated 100000 900 bushels.
Corn-The pit was within the control
of Armour & Co. throughout the session;
This fact made the trade nervous and
transactions largely between the pit oper-
atoTs and not extensive at that. Reports
of poor condition. and quality of crib and
seed corn are being freely circulated. Our
own advices regarding the former are
not of the same tenor. AS for seed corn,
it is only a question of price. There is
plenty of it and even If value is doubled
it does not become burden TO farmers
This country never lost a crop from this
cause. The cash market ruled very steady
to 1c a bushel higher, with Armour a
buyer. The demand is very poor 4O,OO0
bushels of contract were made Friday and
two cars were included in arrivals. Liver
pool was unchanged
Oats were a very dull market. and fluc-
tuations were unimportant. The trade
was small and prices in small way fol-
lowed wheat and corn. There are no new
features in the situation. Receipts were
135 cars, 10 Of which were contract, and
40 900 bushels of the same quality We're
made Friday. The demand continues slow.
j. c. Geraghty & Co.'S correspondents
say of stocks:
Randolph-The stock market has been
a dull, uninteresting and professional at
fair Quotations from London came over
very much higher and the stocks opened
at an advance, but profit-taklng caused
it to gradually sag off. The merger
stocks were all weak on the curb. The
bank statement had no significance.
Paine, Weber & Co.-The bank state
ment was moderately favorable. The
market was higher on the average, but
the volume of trading was very small.
Bear operators seem to be losing courage.
They have raided the list on several re-
actions and have found plenty of buyers
every time. The market is acting we'll
enough to encourage the purchase of
good stocks on all weak spots. Outlook
for copperS is very encouraging and we
shall not be surprised to see more activ-
ity in prices.
O'Connor & Van Bergen'S correspond
ents say of stocks:
One of the most significant and favor
able features of the situation is the evil
dent optimism of foreigners toward our
securities, as shown by their purchases
this week and the strength of American
issues in the face of rather dull and sag
ging tendency in other departments.
Speculation has assumed much quieter
tone since Thursdays decline, now more
particularly noticeable, indicating a wait
ing and watching attitude on the part of
professional traders and others. the draw
back to activity being fears of the I'M
expected in the present important mat
ter under consideration. The best in
formed and the street generally are fully
satisfied that Northern Securities inter-
/ ests are working tremendously together
without the slightest friction or disagree
ment to accomplish a legal dissolution of
the company'S assets along lines now
( known. Pending the final settlement we
look forward to a continuance of the
( present speculative temper with a fresh
impetus given when the matter is finally
out of the way. Changes in the bank
statement are unimportant and have no
/ bearing on the market