The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-09-09
WHEAT STRONG And
HIGHER ON SESSION
Aside From Weakness at Open.
ing Bulls Had All the Bet.
ter of Argument

Wheat was up from practically the
opening yesterday, although wavering
tendency was apparent on first call. The
close was strong.
The stock market was nervous, but
fluctuations We're not very wide and the
market trend was higher.
What the Brokers Say
NJ Doran & Co.'S Chicago grain letter.:
WheatIFor just moment at the open
ing wheat acted a little weak but there
was no pressure to sell. The demand
which came chiefly from local operators,
was active. The market advanced quick
looked as though selling by Armour & Co.
prevented even further advance than we
had Sentiment on the floor is very bull
ish, the general opinion being that wheat
from the Northwest has been a most i'm
portant influence. Threshing returns show
yields as low as have been predicted by
anyone. Mesides the messages from
people who should be well posted say late
wheat has suffered material damage dur
ing the past ten days. Advices from Mis-
than was expected. Receipts of wheat in
the Northwest are light. This perhaps
should be expected, as the farmer is as
big bull this year as anyone and is able
TO keep his wheat if so inclined. Receipts
today We're unexpectedly large here, 465
cars, 3S2 of which came in over the Santa
ears. ne want to again call your atten-
ton to small difference in price between
December and May, only about 2Ac, and
to recommend your selling December and
buying May. We expect a wider differ
ence later.
Corn-Speculative purchases by the peo-
PIE VINO have been the largest buyers for
the past week continued today. Their
buying was on large scale. This buying
is undoubtedly based on advices that the
corn crop is late and it will require per-
maps thirty days to mature it in good
shape and that even with good weather
the yield will be very much smaller than
not of this character except that we
knew that in sections of this state and
Iowa and Nebraska they need two or three
weeks of good weather. The cash mar
ket is dull and easy in tone We are
above an export basis. Liverpool closed
g I'd higher. Estimated receipts to-
morrow esq cars.
Oats have been dull with prices frac-
tlonally higher than yesterday, due more
10 strength in corn and wheat than any
thing else Speculative interests in mar
IN supplies has checked buying. We don't,
however. look for much decline in prices.
Estimated receipts It's cars
Provisions have been dull For two or
three days it has looked as if some of
the packers We're selling ribs and that to-
day they changed their plan and bought
be an excellent domestic cash demand for
an kinds of meats and steady demands
tQi ldIu from ABROAD estimated receipts
OF hogs tomorrow. 10000
advices:
-. Logan &: Bryan-The market wavers a
little 1t indicates to us that the great
increase in activity has been brought
about by an increase in outside interests
and outside buying. This demand has
their stocks through the dullness and
through the advance to this point. The
market has reached a condition and a
are likely. Heretofore there have been
none. General conditions are, however
otherwise without material change The
government report on Saturday. while II
is said to show a considerable impair
ment in the Northwest wheat conditions
IS likely to show pretty fair condition
Hp i0r4 n ana To cotton The banks are also
They have plenty of money to lose and
that process is not likely to disturb conf
dence. Think we would still buy stocks
put we would wait for breaks to buy
them on.
Mcintyre & Co-The developments ir
the market today We're repetition Of
was a continuance of heavy pool liquida.
tion but this process was conducted il
such manner as not to interfere with
the STABILITY OF the general market. The
market was subjected to a further Sc.
we're test by these operations today but
1t took the stocks very we'll There is
good reason to believe that the bull move.
ment will be resumed again on an aggres
SiXe- scale.
Dick Bros.-Market today scored re-
covery from yesterdays reaction ant
further advances Were made all through
the list. few leading stocks were
rather heavy, but sharp advances were
made by Reading. Steels, Southern Rail
way, Chesapeake & Ohio and numerous
Specialties. There was aggressive buyins
by bullish operators first in one stock ane
then another. The market closed irregu.
lar, but generally strong
'O'Connor & Van Bergen's correspond.
ents says:
Reported cold weather in corn belt an6
the advance in the commodity market.
hassbeen the prineipa,1, il. influence tending. tt
days market. There has also been quite
extensive profit taking, as a result, an(
also on the idea even moderate reac
ton is about in order. The absorptive
power of the market is again one of it:
most significant features, as was the cas-,
yesterday, and forcibly calls attention tt
the fact the powers controlling this I'D
ward movement are looking further ahead
than such temporary adverse influence:
as above noted, especially when these ad
vices have not been publicly verified
There has been some very good invest
ment buying reported in such stocks a:
Jersey Central, Lackawanna and also {
quiet absorption of Pennsylvania
Yesterdays closing heaviness brought
stocks into market this morning an6
speculation for the rise was oIiclsiv S-re
sumed with the lower priced stocks til,
favorites. and later marked advances il
the anthracite stocks for General Elec-
trio and Consolidated Cas- In q numbel
of Stocks tone was sluggish and tht
pressure was fairly continuous for botf
long and short account attributed to
forthcoming report on corn said to bs
quite disappointing. The selling made
slight impression as to those immediate
~ concerned and none on the genera
list, where tone held firm to the closing
though shade below best prices.