The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-06-15
WHEAT PRICES ARE
AGAIN FORCED DOWN
Market Lost Ali Strength at
the Opening and Close
Was Dull

The following grain and stock letters
We're wired yesterday to st. Paul brokers
by their New York and Chicago CORE
spondents:
NJ. Doran & Co.'S Chicago grain letter
says:
Wheat-Wheat developed very weak
market before the close, losing all of
Mondays gain and more besides. 1t was
ruled by the merits of the situation being
without sympathetic bull influence. The
weather IS ideal and the cash and crop
news was bearish. The government week
" bulletin on winter wheat was favorable
ana ii describes spring wheat cOndi-
lions as very promising. Private adyices
from the Northwest were of the same
tenor. The conSumptive cash trade is
dull. On the other hand rather free pur-
chaSeS nave been made of new wheat for
July delivery. a
Corn-The universal bullish sentiment
which dominated corn Monday gave place
to the reverse conditions. At the open
lngTseliing orders were greatly in excess
OF buying orders, and a quick break of
zee followed Trade was light with. Sep
TENDER strong relative to July. going to
sc premium at one time. Bearish fea
lures were the 1000 900 bushels increase
in local stocks last week The slow ship
ping demand and warmer weather over all
the belt offset for the present at least
Inc Inc Preoa6lity OF lighter, movement
by the end of the week. The govern
ment weekly bulletin reports slow
growth in Kansas and Nebraska and much
OF the crop still weedy. In Missouri, IL
liaois and Indiana the fields are generally
the options. -.g. -, -,
Oats Oats ruled fairly steady at A@Ac
decline There was some gossip of crop
neau1ng out. The sample market was
duh with prices ruling from steady to a
shade lower. The shipping demand is
&c. -Geraghty & Co.'S correspondents
say of stocks:
Logan & Bryan-Prices generally show
an Improvement and the market has
rather more than gained the shrinkage OF
Monday. 1t is still a dull market but
with the same strong undertone that has
prevailed for some time past. The trac-
lion stocks We're more active but there
is evidently quite little investment buy
ing IN the good dividend paying rails
In our judgment a summing up of the
whole situation justifies a better market
and the incipient tendency of its action
indicates that that will be the result We
advise buying stock at current prices
Dick BroS.-The market has showed re-
newed strength. Mondays reaction was
recovered and the whole list closed strong
showing material gains which averaged a.
point or more in the leading stocks There
was no news Of importance and renew
ed bulliSh activity was largely. response
L1e Tor the advances. Local traction
SIlareS We're leaders and the market clos
ed at about its. best prices and seemed
to promise better figures for Wednesday,
- Connor Van Bergen's stock letter
The opening was quiet and without ma
ter1al change There was a disposition
te look Tor continuation of the reac-
IIonary movement of Monday, but with no
pressure to SELL The tone improved un-
der the influence of strength and ad-
Nances in local traction group under lead
OF Manhattan. Trading was in light VOL
ume, exceedingly professional, but as the
day wore on sentiment turned more free
~ to the bull side of the market, and in
the last hour. on broader Speculation
the entire market advanced easily. closing
strong at the highest of the day. Renew
ed reports of action by attorney general
against the anthracite roads We're without
effect and the news of the daV affectfnp-
speculation was not of Importance. The
feature Of the trading was scarcity of
ed demand. but sentiment was more Gen
orally inclined to look for higher prices
with shorts trying to cover