The Saint Paul globe., 1904-06-04
HEAVY RAINS HELP
BULL MOVEMENT
Wet Weather Keeps Wheat
Prices High-StoCks Show
improvement

The following grain and stock letters
were wired yesterday to st. Paul brokers
by their Chicago and New York CORE
spondents
NJ Doran & Co.'S Chicago grain letter
says:
Wheat-The crop news took precedence
over the cash situation as a bull influ-
ence. The market was nervous and small
until noon when Semi-official confirmation
of private advices of threatened flood dam
age in the West and Southwest gave
values decidedly bullish impetus, the
July again selling in the nineties. The
Modern Miller commented on the South
western situation, but considers the con-
ditlon OF the crop on the whole maintain
ed, although the Ohio valley indications
are for but one-half a crop. The weather
IN the spring wheat belt is too cool to
give the crop a good start. Local cash
business was very quiet with both de-
mand and offerings light. Minneapolis
reports suggest much the same condition
OF affairs More rain is forecast for Sat
urday. and as long as damage is threat
ened the market will continue strong.
Corn-Fhe local traders held bearish
views during the forenoon but the mar
ket was firm, and a little covering started
rapid advance the last hour, on which
new high records were made. The situa-
tion is little changed in respect to the
movement. Country purchases are small
while local receipts are liberal, the result
of last weeks free selling on the part of
farmers. The demand is somewhat i'm
proved. In the sample market the price
were from 1c to &c a bushel lower. The
continued wet weather is receiving consid-
cradle attention and is becoming a fea-
ture. just so long as the country refuses
TO sell corn prices viii continue TO ad-
vance.
Oats-'There was good general trade,
with evident uneaSineSS on the Dart OF
both July and September shorts based on
the wet weather. Moderate receipts i'm
proved the shipping demand, and the fact
that local stocks are rather closely held
Eastern adVlHpC SHRUhCf a hoff
cash business in the future
j. e Geraghty e Co. correspondents
say of stocks:
Walker Bros.-The market today was
dun and uninteresting and the changes
slight. Traders did very little Before
the close the market stiffened and there
was a little better.
Dick Bros.-The stock market has been
very duh but has been firm in tone, and
some advances were scored by a few
stocks in which manipulation appeared
There was no news. The close-@was at
about best prices and seemed to promise
higher figures tomorrow.
OsConnor & Van Bergen's stock letter
says:
While the market has done practically
nothing that might be construed as in the
least significant nevertheless for some
unknown reason the general tone Of the
days financial comment speak more
cheerfully of the present and more hope
fully of the future. This. taken in con-
nection with the first sunshine the street
has seen for a week or more, has irflu-
enced sentiment fayorably. Wheat re-
tains its strength and commands special
attention just at this time, as indicative
OF the general opinion as to the final
crop results on which so much now seems
to depend. The fact stocks of old crop
are nearly exhausted and owing to the
lateness Of the season. we are not likely to
get much of the new July, is having much
to do with the strong buying recently so
noticeable of the fail months options
Whilst it may be still rather premature
TO accurately predict results. there is sllf-
1cient data at hand TO say with much
degree of safety there win be a material
falling off from last years crop. 1t is
therefore well, in our opinion, to CAREFUL
ly watch the crop news from now on. not
only as a factor TO affect the general stu
alton. but as guide that should furnish
advice more than fairly safe, perhaps.
for profitable speculative ventures in the
grain departments Chances favor an
other excellent bank statement Saturday
Judging by net gains SO far in cash, which
Tor hVe days has been $8,875, 900. The
trading, though light, has been mostly at
the higher leyel prevailing at the morn
ing rally. which looks hopeful that a
movement might be in sight